You've probably seen them by now--the guys standing by the roadside waving big signs that exclaim "Going Out Of Business!" and promise savings of 50-70% on electronics and appliances. That's right, Circuit City is now the latest victim of the recession of 2008-2009.
Or is it?
Do you remember back in March 2007 when Circuit City committed one of the biggest public relations blunders ever done by a major corporation? At that time, the company was feeling some financial and competitive stress, so it decided to layoff 3,400 of its highest paid sales staff and replace them with lower paid workers. Rather cynically, the company said that experienced workers could reapply for their jobs if they were interested in working at the lower salary.