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Lowe's Store Closings With 1,950 Job Losses Not Worthy
NewsBusters ^ | 17 Oct 2011 | Tom Blumer

Posted on 10/17/2011 12:13:01 PM PDT by mandaladon

It's a good thing I heard this on the radio at about 11:00 a.m., because I might otherwise have missed it. With yours truly's opinion along for the ride, I'll let readers judge whether the news of the Lowe's home improvement chain announcing that it will close 20 stores and cut its new store opening plans by one-half to two-thirds deserved to be in the top ten business stories at the Associated Press as of 12:52 p.m.

Lowe's to close 20 stores

Home-improvement retailer Lowe's Cos. says it will close 20 underperforming stores in 15 states and cut 1,950 jobs in a move that it says will allow it to focus on more profitable locations.

Ten locations were closed Sunday; the other 10 will close in a month.

Before the closures Lowe's operated 1,725 stores.

Lowe's, based in Mooresville, N.C., also says it will only open 10 to 15 stores in North America annually beginning in 2012. Previously the company expected to open 30 stores per year. It will open 25 stores this year.

The front-page placement issue is important and becoming moreso, as news consumers get more of their news from computers, tablets and smartphones. If the headline doesn't show up on the electronic device (and it probably won't if it's not on the Business front page), users won't know to look for it.

Beyond that, the AP "somehow" decided not to include this pull quote which the Wall Street Journal found obviously newsworthy (the Journal also included the "severely cutting" opening slowdown in its headline):

(Excerpt) Read more at newsbusters.org ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: cain; economy; housingbubble; lowes; obama
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""Today we have a clearer view of the long-term economic recovery and decided to close these 20 stores,".......The economy won't get better until Zero is removed from office.
1 posted on 10/17/2011 12:13:07 PM PDT by mandaladon
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To: mandaladon

If ever there were a child of the housing bubble, Lowes is it.


2 posted on 10/17/2011 12:14:55 PM PDT by the invisib1e hand (...then they came for the guitars, and we kicked their sorry faggot asses into the dust)
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To: mandaladon

How is Home Depot doing? Home Depot’s ad campaign always makes me want to go buy a can a paint or a shovel or SOMETHING. Lowe’s on the other hand, seems to push it’s big ticket items like appliances. Advertising does matter.


3 posted on 10/17/2011 12:16:32 PM PDT by nagdt ("None of my EX's live in Texas")
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To: mandaladon

Where I live, Lowes is the only game in town. I’d have to drive 50 miles to another Lowes or home depot. But I suspect they are doing ok since there is still construction going on around here as many folks from the city (like me)seem to be creating their own Galt’s Gulch’s around here.

I’ve given them about three grand in the last two months.


4 posted on 10/17/2011 12:17:43 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: mandaladon
I'm getting to the point where I just cannot take anymore bad news concerning the willful destruction of our nation.

After listening to Rush today, I'm beginning to wonder if our doom is certain? Sorry to be a wet blanket here. I think I need to take a break from the news, FreeRepublic, and anything politics.

I'm beginning to wonder if Rush has been looking for that land in New Zealand yet?

5 posted on 10/17/2011 12:19:41 PM PDT by Artcore
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To: mandaladon
The stores affected by today's announcement are located in:
Los Banos, CA Biddeford, ME Old Bridge, NJ
Westminster, CA Ellsworth, ME Batavia, NY
Denver, CO Ionia, MI N. Kingstown, RI
Aurora, IL Rogers, MN Emporia, VA
Oswego, IL Claremont, NH S. Tacoma, WA
Chalmette, LA Hooksett, NH Brown Deer, WI
Haverhill, MA Manchester, NH

6 posted on 10/17/2011 12:20:23 PM PDT by deport
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To: nagdt

You are absolutely correct. The latest Lowe’s TV ads are PATHETIC. Dancing foolishness.


7 posted on 10/17/2011 12:21:40 PM PDT by bigfootbob
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To: mandaladon

Primarily because they chose terrible store locations!

I’m in a large growing suburb and the 2 closest to me are each 12 miles away!
I have 2 Home Depot within 5 miles.....


8 posted on 10/17/2011 12:22:03 PM PDT by G Larry (I dream of a day when a man is judged by the content of his character)
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To: nagdt

I prefer Lowes because they give me a 10% military/veteran discount on every purchase. I don’t go to Home Depot because of their overt support of gay and lesbian events.


9 posted on 10/17/2011 12:22:16 PM PDT by SailormanCGA72
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To: mandaladon

1st I’ve heard about Lowes.


10 posted on 10/17/2011 12:23:37 PM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: mandaladon

This in an increasing home improvement period as home resales are in a ditch.

How does the CEO explain that?


11 posted on 10/17/2011 12:24:12 PM PDT by G Larry (I dream of a day when a man is judged by the content of his character)
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To: nagdt
HD is doing well for illegal invaders... they work in their stores and they also gather in front of their stores to find illegal employment.

LLS

12 posted on 10/17/2011 12:26:45 PM PDT by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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To: SailormanCGA72

Well, its nickname IS Homo Depot.

I prefer Lowes myself. But I’ll do anything to avoid the nasty guy who owns my tiny local hardware store.


13 posted on 10/17/2011 12:27:17 PM PDT by miss marmelstein (Let's have a Cain Mutiny!)
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To: mandaladon; Allegra; big'ol_freeper; Lil'freeper; TrueKnightGalahad; blackie; Cincinatus' Wife; ...
Hummmmmmmmmmmmm??? Funny... none of the articles/links list the location of the closed stores--

Then, the game... must be afoot!

No, Shylock! The game's... being buried!

14 posted on 10/17/2011 12:27:22 PM PDT by Bender2 ("I've got a twisted sense of humor, and everything amuses me." RAH Beyond this Horizon)
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To: deport

Mostly BLUE STATES...........


15 posted on 10/17/2011 12:27:52 PM PDT by Red Badger (Furthermore, I think Obama must be impeached....................)
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To: deport

The stores affected by today’s announcement are located in:
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
I thought in ‘obamaland’ that all business would have to remain open and double the employees so the jobless # would go down.
That way, the greedy owners and stockholders will become welfare distributors and we would be in the Utopia we dream of.
The ‘real energetic’ amongst us will have a regular non(high pay)job and a part time no(high pay) job.

So HOW DARE Lowes shut down because it is worried about their bottom line.

Maybe BO will just buy them out and them they can become ‘peoples stores’.

WE ARE DOOMED if this administration isn’t retired immediately.


16 posted on 10/17/2011 12:27:52 PM PDT by xrmusn ((6/98) If govt involved, the more outlandish a scheme appears, the truer it probably is.)
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To: LibLieSlayer

We call ‘em “muster zones” in my area.


17 posted on 10/17/2011 12:28:00 PM PDT by miss marmelstein (Let's have a Cain Mutiny!)
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To: deport

Gee, virtually all Dem strongholds . .


18 posted on 10/17/2011 12:29:29 PM PDT by A_Former_Democrat
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To: Artcore

http://www.LivingInThePhilippines.com


19 posted on 10/17/2011 12:30:07 PM PDT by 2ndDivisionVet (Better to ask forgiveness than permission.)
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To: mandaladon

You may recall when the bubble burst three years ago, we had so-called economists predicting good times for the home improvement business, as many homeowners (that is, the ones not going through foreclosure proceedings) would be stuck where they were and would be more likely to add a room, remodel the kitchen, etc., instead of moving to a new and larger home.

So much for economic prognosticators.


20 posted on 10/17/2011 12:30:54 PM PDT by logician2u
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