Circuit City Closes Stores to Escape Bankruptcy Amidst Financial Crisis

Electronics retailer Circuit City is suffering as a result of the ongoing financial crisis, and taking a serious hit. As a result, in an attempt to escape bankruptcy, Circuit City will shut 155 stores in the US. Some will be happy as the closing stores will be holding sales starting Wednesday; however as a result the company is leaving more than 12 media markets!

According to Tech Trader: The struggling electronics retailer seems to be pushing hard to stay out of bankruptcy, but it is clearly going to be a difficult road. The company this morning announced that it will close 155 U.S. stores, all of which will close tomorrow and then re-open on Wednesday to start store-closing sales.

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Circuit City said that the stores that are closing generated FY 2008 sales of $1.4 billion; the store closings will result in the company exiting from a dozen media markets. The closings will reduce the company’s headcount by about 17%.

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Encouraged by the company’s cost-cutting moves, investors have bid up CC today by 9 cents, or 34.6%, to 35 cents.

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REX 84 sparks fears

A sudden surge in research of the term “Rex 84″ today sparked quite some fears and anxiety. After looking at this mysterious term on Google Trends, I did some research, which I learned that Rex 84 is a plan of the US government to be used in the case when it is necessary to “detain” large numbers of Americans in the case of civil unrest or emergency.

With just this basic info I wanted to know more. I then stumbled upon an article on Newpost Online: FEMA And REX 84: sounds too scary to be true!   And quoting this very interesting article, we come to the essence of my fear and insecurity about this mere search engine phenomenon: 

The scenarios established to trigger FEMA into action are generally found in the society today: economic collapse, civil unrest, drug problems, terrorist attacks, and protests against American intervention in a foreign country. All these premises exist, it could only be a matter of time in which one of these triggers the entire emergency necessary to bring FEMA into action, and then it may be too late, because under the FEMA plan, there is no contingency by which Constitutional power is restored.

According to Wikipedia: Rex 84, short for Readiness Exercise 1984, is a plan by the United States federal government to test their ability to detain large numbers of American citizens in case of civil unrest or national emergency.

Wikipedia continues at the end to mention that:  In 2008, for the first time an active military unit has been given a dedicated assignment stateside for civil unrest containment. It is assigned to Northcom, a joint command established in 2002 to provide command and control for federal homeland defense efforts and coordinate defense support of civil authorities.^[7]

Another interesting yet rather opinionated post about Rex 84 is here: U.S. CONCENTRATION CAMPS – FEMA AND THE REX 84 PROGRAM

Former Knicks Coach ODs on sleeping pills…

Former Knicks coach Isiah Thomas, was fired in April from the Knicks after the Knicks had to make an $11million settlement after Thomas was accused of sexual harassment. As if he didn’t have enough problems, Thomas seems to have OD’d on sleeping pills, but is now fine…

NBC Chicago

Embattled former Knicks head coach Isiah Thomas was rushed from his home in Purchase, NY, early Friday morning to a nearby hospital after overdosing on sleeping pills, NBC News reports.

Harrison Police Chief David Hall refuse to identify the man, only that he had consumed approximately 10 Lunesta pills, a prescription sleep aid, according to the New York Daily News.

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