Survival instinct
There is much to experience in the end of a business like Mervyns.
Right now they are in the midst of a bankruptcy liquidation that will necessitate them to sell of all their inventory and pay off their creditors.
At first glance all I saw was a company going through Chapter 7 in the usual "Going out of business" sale - free market Darwinism at its finest.
Of late there have been many of those. Unheard of furniture stores, mom-and-pop mini marts, even Circuit City putting up big banners shouting their imminent demise. Mervyns was one of the newer additions to the list.
I don't know why I started trying to find out more about all this bankruptcy wave. I suppose it was just a passing curiosity about what everyone is calling the worst economic crisis since the Great Depression of 1929. You see, out here in Silicon Valley, not much seems to have changed in my blinkered view of the economy.
Sure, I have noticed that my gas bill has reduced to less than half of what it was in summer. But that's also because I drive a Prius and of late have started driving my bike when I can.
Sure, I have noticed lesser traffic jams of late - but that's because I almost never get out during peak hours, and besides, its winter - no one wants to drive anyway.
Sure, I've noticed how the median housing prices for a 3/2 SFR in the Bay Area have dropped over $300K over the last year.
Sure, I've noticed an increase in signs shouting about some sale or some company going out of business. But thats just because of the holiday timing.
I'm not really affected am I?
Its easy to believe that your city or community or company is immune to whats affecting the rest of the world. After all, it is _yours_, isn't it?
I used to read the daily newspapers about some company or the other that was going bankrupt... or about Wall Street crashes... or about foreclosures in so many parts of the country.
All I said was: California is immune!
Then I saw how so many homes in California were also affected, and I said: But Silicon Valley is immune!
Then I saw the condition of houses in East San Jose - and I said, East San Jose was never a part of Silicon Valley!
Then I saw Santa Clara and Sunnyvale homes collapsing - and all I could think of was that at least I was safe.
Then I got laid off.
Welcome to denial!
But... I did get a new job. That makes it all right doesn't it?
It does. It must!
Every wave of trouble must wash over you and pass on, leaving you either dead or stronger.
If you're dead, there's nothing to worry about.
If you're alive, you're wiser for having survived, and stronger than those who didn't.
Welcome to survival!
Right now they are in the midst of a bankruptcy liquidation that will necessitate them to sell of all their inventory and pay off their creditors.
At first glance all I saw was a company going through Chapter 7 in the usual "Going out of business" sale - free market Darwinism at its finest.
Of late there have been many of those. Unheard of furniture stores, mom-and-pop mini marts, even Circuit City putting up big banners shouting their imminent demise. Mervyns was one of the newer additions to the list.
I don't know why I started trying to find out more about all this bankruptcy wave. I suppose it was just a passing curiosity about what everyone is calling the worst economic crisis since the Great Depression of 1929. You see, out here in Silicon Valley, not much seems to have changed in my blinkered view of the economy.
Sure, I have noticed that my gas bill has reduced to less than half of what it was in summer. But that's also because I drive a Prius and of late have started driving my bike when I can.
Sure, I have noticed lesser traffic jams of late - but that's because I almost never get out during peak hours, and besides, its winter - no one wants to drive anyway.
Sure, I've noticed how the median housing prices for a 3/2 SFR in the Bay Area have dropped over $300K over the last year.
Sure, I've noticed an increase in signs shouting about some sale or some company going out of business. But thats just because of the holiday timing.
I'm not really affected am I?
Its easy to believe that your city or community or company is immune to whats affecting the rest of the world. After all, it is _yours_, isn't it?
I used to read the daily newspapers about some company or the other that was going bankrupt... or about Wall Street crashes... or about foreclosures in so many parts of the country.
All I said was: California is immune!
Then I saw how so many homes in California were also affected, and I said: But Silicon Valley is immune!
Then I saw the condition of houses in East San Jose - and I said, East San Jose was never a part of Silicon Valley!
Then I saw Santa Clara and Sunnyvale homes collapsing - and all I could think of was that at least I was safe.
Then I got laid off.
Welcome to denial!
But... I did get a new job. That makes it all right doesn't it?
It does. It must!
Every wave of trouble must wash over you and pass on, leaving you either dead or stronger.
If you're dead, there's nothing to worry about.
If you're alive, you're wiser for having survived, and stronger than those who didn't.
Welcome to survival!
posted by Uv | 12:08 PM
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