Is The Mall Dead?

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  • Posted By: Xanaduman @ 11/13/2008 10:51:56 PM

    Meadowlands Xanadu will be the real test for the future of Malls in
    America. If it becomes a family fun destination and draws millions of visitors because of its
    unique entertainment features but is not successful for its retailers....Then the Mall Concept is dead. Time
    will be the judge. However, we should all be thankful for the 20,000 constructions jobs it created. Xanaduman-

  • Posted By: soloparentdate @ 11/13/2008 9:06:36 PM

    Omg. US hate war. Some wars made many single moms and some single dads. and US and Canada have so many single parents so we should help them to find one to be happy at
    __ soloparentdate.com __

  • Posted By: See DifferentlyNow @ 11/13/2008 7:34:43 PM

    In case no one has noticed all malls are alike. You can plop any of us, in any mall, and you will see the same stores selling the same or nearly the same merchandise, whether you are in Albuquerque NM or Albany NY.

    They bearly represent the place thay are in in any substantial way. Whats worse is when you do find a store you can like you can bet within a couple of years it will be gone. Most likely as a result of the exhorbitant rents that have to be paid. So you are left with only the large retailers and no character or sense of place.

    I miss downtown I remember as a kid

  • Posted By: alfacanguro @ 11/13/2008 6:05:02 PM

    I hate the mall. I go there about once a year to buy underwear and a few articles of clothes to replace worn-out items. Malls are crowded, noisy, and expensive. Why would I go there when I can get the exact item I need far cheaper on-line, and have it delivered to me free of charge? Let the malls die.

  • Posted By: IncredibleScott @ 11/13/2008 4:33:48 PM

    After mass layoffs at my old job (I was fortunate to find a new job before my old co-workers were suprised with the pink slips), I decided to take a good look at my life, and my spending. I've noticed my savings hasn't changed much in the past year, and going through my budget, I realized that much of my spending has gone to unnecessary things. Why get a bigger TV, better phone, a faster laptop, or more clothes when I am fine with what I already have?

    So what would be the point of going to the mall? Especially when I can find many items (and a better variety) for far less money at online stores, thrift shops, and even the Sunday flea-market. So there's very little reason for me to spend time in crowds at the mall this holiday season. Especially with the failing economy, I am more worried about keeping my own job and my savings intact than I am with spending hundreds of dollars on gifts.

  • Posted By: OnlyCure=Truth @ 11/13/2008 3:09:35 AM

    ???Only banks can loan money they don???t have and charge interest for it. Because the elite who own
    the banks made it a policy that the bank can loan 10 dollars for every 1 it actually has.
    That is what created the current financial mess or as they say problem with liquidity.
    They created the problem by loaning money they did not even have to loan.
    Dishonest usury is what it is.

    Full disclosure of banking policies would be nice lets have it all put on the table for every one to
    see just how corrupt they are taking food and housing from people who work hard while they sit
    in there penthouses reading about bank bailout's. No don???t feel sorry for them feel sorry for the
    people who are being crushed under there feet from the dishonest usury.

    Most people had to give a down payment before 2004 for a home and if you where considered
    risky you had to give a bigger down payment.
    For example
    on a loan of 180,000 with medium to low risk you would fork out 7000.00 to buy a home.

    Now what does that translate into for the bank.
    The banks can loan 10 dollars for every 1 dollar they have and charge interest for the loan.
    win - win for the bank
    1 = 10 for them right off plus interest
    7000 = 70,0000 plus interest
    then you have a payment of 750.00 or so with interest on the loan
    750.00 = 7500.00 plus interest per month as you pay in for them
    1 year of payments = 90,000 plus interest for them to loan to others.
    so if you put 7000.00 down and finance 180,000.00 they get repaid in one year with a payment of
    750.00
    Sounds strange but remember 1 dollar is as good as ten to them for every dollar they take in they
    can loan 10
    So don???t feel sorry for them and bail them out. Bail out the public who just keeps paying not
    knowing any better.

    If you paid a down payment on your house and then you paid on it for even a year you paid it off
    in the banks books. 30+ times over if you paid for 30 years.

    After the first year they use the money you pay them to pay there salaries of 22 million for 22 days on the job.
    What a Joke.

    • Posted By: WorkingClassSlob @ 11/13/2008 12:23:13 PM

      How exactly can a bank loan 10 dollars for every dollar they have? I know they can package a loan and sell it to a secondary market while retaining servicing on the loan; however at that point they no longer own it.
      Are you saying that a bank's balance sheets don't balance? Assets are 10 times liability plus net worth?
      I'm confused.

      • Posted By: momservant @ 11/13/2008 3:39:49 PM

        In Banking, loans are assets and deposits are liabilities. Money lent out is a receivable while your money in their banks is basically a debt they owe you with little to no interest. The additional cash for lending comes from what is known as "Fed Funds" and also investor capital. The interest received on these loans is income that falls under retained earnings, a component of equity (net worth). Hope that helps clear the confusion.

        • Posted By: WorkingClassSlob @ 11/13/2008 3:56:32 PM

          Fed funds are NOT additional cash for lending. They're a short term borrowing used by financial instituions to make up for temporary shortfalls in cash reserve requirements. At any rate, they're also carried on the books as a liability of the institution. The original poster seems to think that somehow a bank can lend out ten times more in loans than it has in liabilities/net worth, and I find that mystifying. Personally, I think his tinfoil hat is too tight.

  • Posted By: Tommypie @ 11/13/2008 2:29:24 PM

    If people don't have the money, they won't buy. Mega malls are nice but soon they will be nothing more than show cases with people aimlessly wandering about, looking in the bargain basement for deals, as the "uppity" stores all around are closing their doors.

    • Posted By: kshortSD @ 11/13/2008 3:54:41 PM

      Well, if people don't have the CREDIT, they won't buy. Not having money never stopped most shoppers before.

  • Posted By: kshortSD @ 11/13/2008 3:52:59 PM

    I hate malls. I go only a couple times a year when I need something, and have often wondered at the type of person who visits the mall weekly for entertainment, only to leave with items they don't need and can't afford. Hopefully, this change in consciousness will endure.

  • Posted By: veer5 @ 11/13/2008 3:46:43 PM

    I just went through my statements month by month and added up what I spent in the malls last year. Sad to say, it would have provided food for a family of four for a year! I can't do that anymore...my retirement portfolio lost a bundle. Fortunately I never ran up debt...paid my cards off in full each month, and that became my excuse..I can afford it so why not! In the future, if I want a shopping experience, I'll just visit my closet!

  • Posted By: VirginiaVoter @ 11/13/2008 3:22:19 PM

    Retail is a reflection of the American public. This article is about our shifting consciousness from a mainly consumptive ideology to a more thoughtful, reuse and reduce philosophy. The 'mall' is a symbol of the consumer mindset of the American public.

  • Posted By: rogermunoz @ 11/13/2008 3:17:38 PM

    Why is the media more worried about retailers than the american public ?

  • Posted By: MadHax @ 11/13/2008 3:12:36 PM

    Shopping is increasingly done online, and so it is no wonder that malls have to put up with reduced sales. The trend is likely to continue, given that online prices are lesser than brick and mortar store prices. There is also far greater choice and variety available online.

  • Posted By: asterea @ 11/13/2008 3:12:26 PM

    Malls are boring, too big, and all the stores have the same stuff. Finding unique items and shopping is a lot more pleasant in small stores and the help is invariably nicer. Bring back main street and ditch the malls.

  • Posted By: givemeabreaknow @ 11/13/2008 3:04:56 PM

    I have high credit card bills. How much do they want us to spend? Pay me more money and I will pay off my debt AND spend. Right now I am just paying down my debt. I can't help the malls. In addition, they keep sending jobs at my company overseas to India so pretty soon I will not have a job to pay for anything. They also bring people over on Visas and are paying them less than what they would pay an American worker.

  • Posted By: curmudgeon47 @ 11/13/2008 3:03:52 PM

    As an older male, malls are worthless to me. Besides fighting the crowds and noise and parking, there isn't there isn't anything in any of them that I want. Take a look at one of the directories - all the stores are geared toward women's clothing or teenager's clothing, with the obligatory candle and gift shops. A few very lean men's clothing areas in the department stores, and that's all. When I need to buy gifts, the newer models of strip malls are just fine.

  • Posted By: givemeabreaknow @ 11/13/2008 3:02:46 PM

    They want us to spend more, but yet our jobs are going overseas. Even where I work they are sending more jobs overseas. The credit card interest rates are too high and I owe enough already from previous spending. So I am focusing on paying off my debt. I can't buy anymore because I don't have the income to support buying more.

  • Posted By: millieb427 @ 11/13/2008 2:30:49 PM

    I gave up on the malls years ago, not just for economic reasons but because I hated the crowds and parking issues. I now frequent auctions, consignment shops and thrift stores. I found custom made Waverly drapes (new out of a model home) that were a perfect fit for my windows for a total cost of $25 at my favorite thrift store. Also, there are two salvage stores in our area and they offer huge cost-saving benefits. Why ever spend more than you have to. And it's a great feeling to know you found a really great treasure for less than the cost of a fast-food burger.

  • Posted By: bmd12345 @ 11/13/2008 2:27:26 PM

    It is more than that. Malls near the inner cities have gotten less safe with the arrival of gangs loitering in the mall. Women do not feel comfortable walking around with boys walking about with pants hanging at their legs. I have seen a swell of kids running from one end of the mall to the other with no regard to the shoppers.

    Once you feel a lack of safety, forget it.

  • Posted By: JGBHimself @ 11/13/2008 2:11:50 PM

    While you are to some extent correct, what you do not mention is the "fast food effect", namely that if there are a number of fast foods in proximity they all do better than if they stand alone. Why? Cuz human beings like variety. Large department stores were giving in one building what we now find in malls, lots of things to see and different things that we can get, without driving all over Hell. True, you do have to drive to get there, cuz most malls are transit difficult. True, pedestrian friendly streets are fun to live nearby. But, most of U.S. do not live near those kinds of placed. Maybe that is what we should have built, but we did not. Just as a big box grocery store may not be as close, or convient, but what they DO provide U.S. is variety - if you need it, they probably carry it; and if you cannot find it, they probably will order some of it. Part of the problem is when ALL of the mall stores begin to carry the same clothes from China. Grrrls, isn't that just too borring.

  • Posted By: krounded @ 11/13/2008 2:06:01 PM

    Good riddance. I've always hated malls. I could never figure out who hade the time the money or the inclination to drive 30 minutes to a mall. If you have that much time, stay home and make something for yourself.

    It's still a little too early to put the death nail in the mall though. For many communities it makes more sense to go to one place to do all the shopping. That's a big reason Walmarts are popular.

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