I’m surprised it took so long for this to occur, as Blockbuster is simply a victim of an industry that has changed so dramatically that its core business is obsolete.
>>I’m surprised it took so long for this to occur...<<
I’m with you. It shows how the “doomsayers” can be right but just off target on the “execution date”.
And you will notice I am not attempting to veil my perspective that this is a lesson in why we have doomsayers regarding the world economy that seem to be “wrong” but we just need to wait a little bit. It is easy to predict (to anyone paying attention) as the Blockbuster bankruptcy.
The timing is the trick. Peter Schiff famously got it right with the housing bubble. I wonder if any of the doomsayers will get it right with their 2010 and 2011 predictions.