More Victims of the 2010 Economy

Posted on January 10, 2011 by Harry K. Jones

While major changes in Washington, D.C. are leading most to focus on a hopeful recovery of our economy, we can’t ignore the fact that 2010 presented us with some moments of loss. Some were predicted while others caught us off guard. Some of our losses included people, brands, and products that have been a part of our lives for decades.

Here are a few departures we’ll someday be explaining to our grandchildren.

Mr. Goodwrench

GM has decided on early retirement for Mr. Goodwrench who has represented quality service for all of the brands under the GM mantle since 1974. The figure came to represent the best of American know-how, grease-monkey style. Now, GM plans to promote service tied to each specific brand. You’ll soon see ads for individual service under each of the GM brands.

The Sony Walkman

Remember when the Walkman was the cutting edge of technology, allowing an entire generation of music lovers to listen to their favorite tunes wherever they wanted? Of course, that was before iPods, smartphones and MP3 players. The Walkman started the headphone revolution.

However Sony has manufactured its last Walkman. While you may be able to find them for sale for a while in less-developed countries, the Walkman will walk no more in the U.S.

B. Dalton Bookstores

Obviously, digital readers and the growth of online vendors has taken its toll on bookstores from coast to coast. B. Dalton, one of the nation’s largest bookstore chains has closed 798 stores located in shopping malls and other locations across the country. The chain was owned by Barnes & Noble when the ax fell.

Air America

Many believed that talk radio was once dominated by conservatives. Then Air America arrived as a breath of fresh, liberal air. Its content was decidedly progressive, starring such notables as Arianna Huffington, Robert F. Kennedy, Al Franken, Jerry Springer, Ron Reagan and Rachel Maddow. Apparently, however, liberal-speak didn’t pay the bills, and the network went dark in January of 2010.

Liz Claiborne Outlets

Liz Claiborne is closing all of its 87 outlet stores as it plans on marketing its products exclusively through JCPenney. Other properties owned by the company, including Juicy Couture, Lucky Brands and Kate Spade, will continue business as usual.

Pontiac, Mercury, Saturn and Hummer

As the American auto industry strives to weather the storm, we have lost a number of treasured car brands. GM’s Pontiac nameplate dates back to 1926 and was treasured for its high performance models like the legendary GTO. Mercury simply wasn’t that different from the Ford. The Hummer brand was originally applied to military vehicles produced by AM General, particularly the famous Hum-Vee. GM bought the rights to the name in 1998 and put out a line of street-legal vehicles mimicking the design of the military vehicles. In the wake of its reorganization, GM attempted (without success, obviously) to sell the brand, and so it joined those being retired.

U.S. News and World Report

U.S. News and World Report this year decided to become an online-only journal which means it’s simply no longer a magazine. From time to time, it will produce a few special editions. Beginning in 1933, it moved from a weekly publication to a monthly. It now becomes a none-thly

Windows XP

Many companies decided to stick with Microsoft’s Windows XP operating system after Vista was launched, complaining that the new version was bloated and buggy. Microsoft continued to provide support for Windows XP and continued to sell the product for use in very low price-point computers until late in 2010. While Microsoft will continue to support XP for several more years, the best-loved version of Windows is history.

Movie Gallery

Netflix, Redbox and streaming video have claimed yet another victim. Movie Gallery filed for bankruptcy for the second time, and subsequently announced it was closing all of its locations. At one time this rental chain had more than 4,500 outlets, second only to industry leader Blockbuster. It also owned Hollywood Video, which also shut its doors in 2010.

AirTran

AirTran entered the industry in 1992 under the name ValuJet. After a devastating crash in the Florida Everglades in 1996, it was found to have significant quality problems due to its extreme cost-cutting. After merging with Airways Corp. in 1997, it changed its name to AirTran. Southwest Airlines chose to buy AirTran in order to reduce competition and expand its services. While AirTran will continue to operate as an independent airline while the $1.4 billion transaction passes muster, it’s only a matter of time before the AirTran brand is retired.

About Harry K. Jones

Harry K. Jones is a motivational speaker and consultant for AchieveMax®, Inc., a company of professional speakers who provide custom-designed seminars, keynote presentations, and consulting services. Harry's top requested topics include change management, customer service, creativity, employee retention, goal setting, leadership, stress management, teamwork, and time management. For more information on Harry's presentations, please call 800-886-2629 or fill out our contact form.

Like Dominoes on a Windy Day

Posted on June 21, 2010 by Harry K. Jones

Yes, it’s true. Brand names and organizations continue to fall in this ever-growing chaotic economy, like a child’s dominoes on a windy day on the porch!

“24/7 Wall Street,” a Delaware corporation set up to run a financial news and opinion operation over the Internet, has created a new list of brands that will soon disappear in the near term. This most current list includes Readers Digest, Kia Motors, Dollar Thrifty, Zale, Blockbuster, T-Mobile, BP plc, and RadioShack. To qualify, it expects that brand to be gone by the end of 2011, or for its parent to be sold or go into Chapter 11.

Let’s take a look at some of those brands on the current list.

Reader’s Digest was once the most widely read magazine in the world. It still may be when its overseas editions are taken into account. Last August, the company took its U.S. operations into Chapter 11 to decrease debt. Widely circulated magazines like Newsweek, US News, and TV Guide have no future in America in their current form. Reader’s Digest may live on outside the U.S. and its parent company may survive. However, Reader’s Digest as it is known in the U.S. will be gone.

Dollar Thrifty Automotive Group, the car rental company, is for sale. Hertz is a potential buyer as is Avis Budget. Each of the larger car rental firms would use the Dollar Thrifty business to expand its market share. That does not mean that they would keep the brand. The number of vehicles that Dollar Thrifty operates at any one time is only 95,000 compared to 420,000 for Hertz. Dollar Thrifty will be the next casualty of the industry’s consolidation.

Blockbuster, Inc. was the national leader in the video rental business for nearly two decades. Now it is contemplating Chapter 11 to eliminate debt. Its revenue continues to fall rapidly as firms such as Redbox and NetFlix siphon off its revenue. Blockbuster has more than 6,000 stores, so it is hard to imagine that the company could disappear. Blockbuster rival Movie Gallery said in February that it would close all of its 2,400 U.S. stores. Blockbuster’s model of renting movies through physical locations has been destroyed by cable and satellite video on demand, DVDs via mail, and dispensing machines. Blockbuster may still be around as a company that has movie kiosks and a small mail and Internet-delivered content business. But its brick and-mortar business is dead.

T-Mobile, the U.S. wireless provider, is owned by telecom giant Deutsche Telekom. It is the #4 cellular company in an American market that only supports two really successful firms—AT&T Wireless and Verizon Wireless. Even the third largest company in the market—Sprint—has 50 million customers. T-Mobile had 34 million customers at the end of last year. As it now stands, T-Mobile has no future in the U.S.

The case against the BP p.l.c. brand is not so much that the company will enter bankruptcy. It is that BP may end up breaking into pieces for its own sake. This may be to put the liabilities for the Deepwater Horizon spill into a company that also holds escrow capital to cover the huge costs of clean-up and suits. BP may also want to separate its successful refining operations from its exploration business, or recreate an American-based company similar to BP America, which existed for two decades. A restructuring of BP would also allow the firm to take a badly crippled brand and give the oil operation a new name—much as it did when it changed its name from British Petroleum. The second time may be the charm.

RadioShack is one of the oldest retailers in the U.S. It was founded in 1921 and in the early 1960s was purchased by Tandy Corp. The Tandy name was used for some of Radio Shack’s retail stores. RadioShack is currently a takeover target. There have been rumors that the company may be taken private via a leveraged buyout or purchased by Best Buy, probably for its locations. Best Buy would certainly not keep the RadioShack brand because it is considered downscale and does not have the reputation for quality products and service that Best Buy enjoys.

Zale Corporation was founded in 1924 by the Zale brothers. It was one of the earliest retailers to offer the ability to buy items on credit. By 1980, Zale had revenue of more than $1 billion. In 1992, Zale filed for bankruptcy. Zale has been at death’s door for some time. The company is trying to turn itself around, but most experts are not convinced. Zale is also in a very crowded market that includes retailers as large as Wal-Mart.

Kia Motors Corporation is one of the two car brands of Hyundai of South Korea. It has always been a marginal brand. Its stable mate, Hyundai USA, has a reputation for high quality cars like the Sonata and Genesis. The parent company will take a page from several other global car companies and dump its weakest brand.

About Harry K. Jones

Inevitable Retail Hits

Posted on January 28, 2010 by Harry K. Jones

We knew it was going to happen. Just glance out your car window as you pass your local strip malls. Try to walk 25 yards through your local mall without seeing boarded up stores. The 2009 holiday sales period was one of the worst on record. That, coupled with very little change in the nation’s economic situation and the growth of e-commerce revenues, made it quite obvious that our retail industry would have to adjust to consistently poor performance. The looming question at this point is “who’s next?”

“24/7 Wall Street,” a Delaware corporation set up to run a financial news and opinion operation over the Internet, looked at a number of large retail companies to see which had the largest fall-offs in same-store sales in 2009.

The list below includes the eight store chains most likely to close a significant number of locations this year and an estimate of the number of outlets they will have to shutter.

Zale fired its CEO and the two senior retail executives who work for him. Zale has 1,930 outlets operating under the names Zales Jewelers, Zales Outlet, Gordon’s Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Zale will have to close its 200 worst-performing stores before the year is over.

Abercrombie & Fitch posted the worst same-store sales results of any large retailer in America during 2009. Caris & Co, the research firm, recently expressed strong doubt about how it might recover. The firm operates a number of brands including Abercrombie & Fitch, abercrombie, Hollister, and RUEHL. The company has 1,129 outlets and will have to retreat to its early 2007 store count of 950.

GameStop, the massive video-game retailer, said its holiday 2009 results were a disappointment.The entire video game industry is in trouble. GameStop has 6,200 stores worldwide and 24/7 Wall Street expects that at least 400 of those will be closed.

Barnes & Noble, the largest book store company in the U.S., is up against a rapid increase in book sales over the internet which is dominated by Amazon and includes large retailers such as Wal-Mart. The rise of the e-reader and e-books is also in the process of undermining “bricks-and-mortar” book buying traffic. Its peer Borders recently closed 200 of its Waldenbooks outlets and fired 1,500 people. Barnes & Noble has 775 outlets and 636 college bookstore. Barnes & Noble will have to push online sales, marketing of its Nook e-reader, and close at least 100 stores.

Hot Topic shares were recently downgraded as the firm posted awful results last year. The company operated 681 Hot Topic stores in all 50 states and Puerto Rico and 156 Torrid stores. Hot Topic says the” idea behind the Hot Topic concept essentially began in the 1960s with bootleggers selling tee shirts at concert venues.” It had better go back to the original model. The company is in such bad shape it will have to close 200 stores this year.

Dillard’s has 315 stores in 29 states. It will end up closing at least 25 to stay in good shape.

JCPenney is still profitable, and its only real problem is that it is spread too thin. The firm has just over 1,100 stores and needs to “right size” itself to the economy by cutting 75.

Retail experts are predicting things will get worse before they get better. Only the strong will survive and even those retailers will have to make drastic changes to do so. Those who sit and wait for things to get better will soon disappear from the scene. This reality is sad but true and has already proven to be true.

About Harry K. Jones

Mass Media Takes a Hit

Posted on August 13, 2009 by Harry K. Jones

I’m sure you’re aware of the large number of U.S. newspapers which have greatly diminished their page numbers, reduced the number of publishing days, and in some cases ceased publishing print copy altogether as they moved to the Internet. This appears to be a growing trend which will not be reversed any time soon.

Experts predict this unfortunate down-sizing, or right-sizing as some say, will soon spread to all aspects of the media market. In fact, it’s already happening. Across the country, advertising and profits at TV stations are rapidly shrinking and therefore many longtime news anchors are being squeezed out. Major markets such as Boston, Chicago, New York, Denver and Phoenix have lost news anchors who have been there for decades. These seasoned veterans are being replaced by cheaper, younger talent.

According to the Radio Television News Directors Association, about 1,200 people in TV news lost their jobs last year. This figure, approximately 4.3 percent of the total workforce, has led to staffs that are increasingly stretched thin. Even as more layoffs loom, stations are turning to low-cost news programs to fill in holes in their schedule that used to be filled by syndicated shows.

The situation in cable is slightly different, as channel revenue comes from affiliate fees in addition to advertising. However, there have been layoffs there too. Earlier this month, it was reported that TruTV was planning to axe half of its staff in New York City, and even CNBC has had job cuts.

It’s not just newspapers and TV feeling the crunch … several major magazines are also concerned about their future. One of the “Big Three” U.S. business magazines is apparently up for sale. Eighty-year-old BusinessWeek was founded in 1929, has an editorial staff of approximately 190 and has about 4.8 million readers in 140 countries. The weekly magazine suffered a 30% decline in second-quarter ad sales, compared with a 22% drop industry wide.

Some predict that the classic “Big Three” may be reduced to the “Big One” if the economy doesn’t improve soon. BusinessWeek‘s two major competitors, Fortune and Forbes, are currently evaluating options as well. All three currently have an Internet presence as do other competitors such as Fast Company, Inc., Harvard Business Review, Business 2.0 and others.

These are the best of times and the worst of times to be a business magazine. That same thought can be shared by a large variety of industries today. The coming year is going to be very challenging for U.S. media.

About Harry K. Jones

The Changes Just Don’t Stop

Posted on July 15, 2009 by Harry K. Jones

If you’ve been following this series, you know we’ve focused on products, organizations and trends which, for one reason or another, have disappeared from the environment they were once so much a part of. Today, we add another category combining technology and gadgets as we predict some things which will more than likely disappear in the very near future.

Wristwatches

Why in the world would you want to pay a hundred dollars or more for something that just tells you the time, makes your wrist sweaty, and may not match what you’re wearing? More and more people are realizing just that and are simply relying on the built-in clock on their cell phone or iPod. And one thing that will probably never change … they’ll still be late!

Zip Drives

A zip drive was once the computer storage rock star, but it’s as good as dead now with the proliferation of flash drives capable of holding gigabytes of data. However, if you’re in the market for cheap paperweights, hang on to that zip drive.

DVDs

Now the DVDs know how the VCR tapes felt not that long ago. Yes, they are in fact going away, no matter what anyone says. Blu-Ray sales are growing and GE’s new holographic storage technology, capable of holding up to 500 GB of data, is in the works.

LCD TVs

Ouch! That means the TV you just bought is already obsolete, no matter what your electronics salesperson told you. The price for OLED TVs, which boast exponentially better contrast ratios of over 1,000,000:1 is already tumbling down. Look for much larger, paper-thin screens in the very near future.

Radios

The medium has reinvented itself amidst the car crisis, slowly weening itself off of the AM/FM standard and opting for either high-quality satellite (Sirius XM) or Web radio.

Manned Military Aircraft

One reason why we’re not incurring World War II-type losses in recent military operations is new unmanned aerial vehicles (UAVs) like Predator drones that are used for both intelligence gathering and “bringing the pain” (attacking the enemy).

About Harry K. Jones

Far From Over

Posted on June 8, 2009 by Harry K. Jones

This is our eighth installment of our focus on the constant change of the landscape of America. It’s very obviously far from the last installment as culture shifts, new technologies, and products/services are introduced daily. If you’d like to review previous installments at any time, simply click on “Going, Going Gone” in the Categories column on the right or at the top of the post above the title.

Now let’s take a look at a few of the latest additions to this ever-growing list.

The Rainbow Room

The famed Rainbow Room, New York’s legendary dinner and dancing venue—known across the world for its majestic eagle’s-nest view of the city, and once synonymous with glitz and gastronomy, closed its restaurant in January because of the weak economy. The ritzy special-occasion spot opened in 1934 in New York overlooking midtown Manhattan from high above the tourist-attracting Rockefeller Center skating rink and was known world-wide.

Polaroid Traditional Instant Film

Polaroid introduced its first instant camera in 1948. Its revenue peaked in 1991 at nearly $3 billion. However, by 2001, the company had gone into bankruptcy. The increased popularity of digital cameras led Polaroid to plan for the exit of traditional film in all formats and sizes as of December of 2008.

The Kinko’s Name

Kinko’s is the world’s leading provider of document solutions and business services. It was founded in 1970 by Paul Orfalea whose college nickname was “Kinko” because of his kinky (curly) hair. He later sold out to FedEx in 2003 for $1.3 billion, and the name became FedEx Kinko’s. FedEx recently announced that it will drop the name Kinko’s and will be known as FedEx Office.

DHL in the U.S.

DHL, a German global shipping giant originally founded in the U.S., is one of the world’s most famous courier services that, at one time, was a strong competitor to UPS and FedEx. As of January of this year, DHL stopped shipping within the U.S., closing all of its 18 hubs.

Arena Football League (AFL)

Founded in 1987 as an American Football indoor league, this unique venture grew in popularity through the years. However, that same growth was accompanied by greatly increased expenses and debt which led to the league announcing that it was suspending operations for 2009. Insiders predict that the AFL will not return.

Diet Cherry Chocolate Dr Pepper

Now here’s a combination that sounds as though it simply can’t miss. Think about it—everyone loves chocolate, cherry has always been a favorite, Dr Pepper is a national classic and the word “diet” erases any concern that the chocolate and/or the cherry may be a threat to your weight concerns. Put them all together and what do you get? Apparently a limited edition flavor introduced in 2007 and discontinued in 2008.

Stay tuned for our next installment of culture shifts, new technologies, and products/services which are destined to be going, going, gone.

About Harry K. Jones

What You May Not Know About Kmart

Posted on May 29, 2009 by Harry K. Jones

Most everyone today is familiar with Kmart—or what they think is Kmart. It has been around since 1899 (110 years) and began as S.S. Kresge stores in the form of what was then called “five-and-dimes.” In 1962, it emerged with a new image of the giant box stores and changed its name to Kmart.

Once the #1 discount retailer in North America and many other countries, Kmart is now ranked 3rd behind Wal-Mart and Target … both of which opened their doors in 1962 (47 years ago). Kmart is ranked 29th in the top-250 global retailers where Wal-Mart is first and Target is 7th.

Since purchasing Sears in 2004 for $11 billion, Kmart has done little to regain prominence in a very competitive retail environment. Many experts predict the demise of the retail icon if major changes aren’t initiated in the very near future.

While most people are aware of the continual decline of this one-time retail giant, very few are familiar with its colorful history. The average shopper obviously knows Kmart and many baby boomers will remember the friendly atmosphere of the Kresge store. However, very few remember the many other divisions of this colorful organization. Do you?

S. S. Kresge Co. (five-and-dime chain) 1899-1962
Jupiter Stores (dime store chain) 1960-1987
K-mart Chef (fast food) 1967-1974
Holly Stores (clothing) mid-60s
Dunham’s Sports Corp. – mid-60s
Designer Depot – early 1980s
Furr’s Cafeterias, Inc. – 1980-1986
Builder’s Square (home improvement) 1984-1997
S.S. Kresge Waldenbooks – 1984-1995
Detroit Pay-Less Drugs – 1985-1997
Sports Giant – late 80s
American Fare (hypermarkets) – late 1980s
Office Square (office supply) 1989-1992
Pace Club (warehouse club) 1989-1993
Intelligent Electronic’s Biznet – early 90s
Sports Authority – 1990-1994
Office Max (office supply) – 1990-1994
Border’s Books – 1992-1995
Sears Roebuck – 2004

Someday, maybe in the near future, someone will undoubtedly pen a best-seller with a title similar to “The Rise and Fall of the Big Red K.”

About Harry K. Jones

See It to Believe It!

Posted on May 14, 2009 by Harry K. Jones

In this series, we’ve focused on people, products, organizations and trends which, for one reason or another, have disappeared from the environment they were once so much a part of. We have also predicted those which will more than likely disappear in the very near future.

This time we’re going to provide you with a few resources that can accomplish a couple of things for you:

Provide you with some fond memories you may have forgotten altogether.
Enhance communication skills between generations.
Reveal just how much things have really changed.
Prove the point that while visuals are key to communication, they can also actually make explanations even more difficult to explain.

For the first time in American history, we are faced with the challenge of having four generations working together in the work place. This, of course, presents a major communication challenge which few seem to want to acknowledge. That challenge arises due to opposing environments, traditions, societies, etc. This exercise will demonstrate, in no uncertain terms, how difficult it can be to communicate with a generation other than your own.

Sit with a child or grandchild and attempt to explain each of the following graphics. Keep a close eye on facial expressions and questions which may be asked as a result of your explanation. Let’s get started.

With this first graphic, note that you’ll have to explain not only the spindle itself but the 45 in which it was inserted.

45 rpm spindles

To explain the next graphic, you may want to start by explaining why you need a key for a roller skate as you’ll be talking to someone who has only known rollerblades.

Roller-skate keys

Here you’ll want to explain how much gum had to be chewed to create this necklace, how you folded and connected the pieces and why you couldn’t find anything better to do with your time!

Gum-wrapper chains

You’re going to struggle with this one as you’ll have to explain why, how, and when it was used, which may also lead to explaining how we only had three networks, a few channels, an antenna on top of our house, and the fact that we actually had to walk over to our TV set in order to change channels and turn it on and off.

TV Test patterns

You’ll soon realize how difficult it is to explain that these signs lined our highways from coast to coast with 7,000 different sayings. Click on this link for more history and examples of sayings. And don’t forget to explain what Burma Shave was.

Burma Shave signs

Try to keep a straight face as you explain how we used to dry our clothes by feeding them through this contraption. Explain that it was also a method of enhancing our biceps which was one of our first ways of multitasking.

Washtub wringers

You may not want to admit that anyone in your family practiced this favorite tradition. However, if you do, explain how and where we got the stamps, how we licked them for hour after hour in order to place them in books, what we traded them in for, and how many boxes of books it took to get the simplest of prizes. Don’t forget to mention Blue Chip Stamps, Gold Bell Stamps, Top Value Stamps, Gold Bond Stamps and Plaid Stamps.

S & H Green Stamps

Try to explain how you attached these to your camera, how they blinded everyone in the room where the picture was being taken, and how easily they burned your hands when you ejected them from the camera.

Flash bulbs

Realizing that you’re talking to someone who takes pictures with a cell and downloads them onto a computer, try to explain what this box is and why we called it Brownie. Be sure to point out that we could get our pictures developed within ten days of snapping them. Point out that you had to wait until the entire roll of film was used and then explain what a roll of film was.

Brownie camera

Don’t even attempt to explain this one. They’ll never believe it.

Penny candy

This one might be even more difficult for them to believe.

15-cent McDonald’s hamburgers

Last, but not least, when explaining how this contraption works and how you stored the cubes after their release, remember that you’re talking to a generation that gets their ice cubes by pushing the button on the doors—and they can get them crushed or cubed.

Metal ice-cube trays with levers

Hopefully, this exercise has illustrated why it’s so difficult to communicate between just two generations. Now consider the fact that we’re dealing with four generations in today’s workplace. Strive for empathy and understanding in dealing with this very real challenge. By the way, it was probably kind of fun attempting this experience, wasn’t it? … regardless of the quizzical looks you had to deal with.

About Harry K. Jones

Things That Should Be Eliminated

Posted on April 20, 2009 by Harry K. Jones

Thus far, this particular category has been devoted to focusing on people, products, organizations, and trends which:

have undergone major changes,
are currently in the midst of transformation,
are destined for future change, and
the inevitable results that will evolve.

I thought maybe we’d change our focus a bit this week and focus on things that SHOULD be going, gone or eliminated as soon as possible because they simply don’t make sense. For instance:

Let’s start with those maddening little labels glued on every piece of fruit in the supermarket. There’s got to be a better way. As it is now, you either end up eating the labels or destroying the piece of fruit by trying to surgically remove them before feasting. After every battle with a sticker, I feel like returning the piece of fruit to the supermarket—through the plate glass front window of the store.
Now let’s visit the airport where there are several maddening classics which need to be targeted.
- Let’s get rid of that ridiculous sign near security which reminds us that no guns, knives, or bombs are permitted past this point! Duh! Have you ever seen a passenger dump their weapons in a growing pile at this point?
- How about the E-ticket machine near the counter that actually has the gaul and audacity to ask you if you packed your own bag. If you didn’t, would you tell this machine? And if you told them you didn’t pack your own bag, what are they going to do? Is there someone in the back room monitoring responses from all of these E-ticket machines?
- Here’s another dumb airport tradition: crowding up against the luggage conveyor while we wait for bags at the airport. If we all stood back six feet, we could see the bags coming and step forward and wrestle them off the belt without shoving.
How about the Electoral College? No one understands what it is, how it works, or the fact that it undermines the concept of “every vote counts.” Rather than directly voting for the President and Vice President, United States citizens vote for electors. Electors are technically free to vote for anyone eligible to be President but in practice pledge to vote for specific candidates and voters cast ballots for favored Presidential and Vice Presidential candidates by voting for correspondingly pledged electors. You knew that, right?
And finally … lotteries need to go. A lottery is a tax on people who are bad at math. It’s a huge tax—people sink about $40 billion a year into state lotteries and $345 billion into all forms of legal gambling. A good number of those who buy lottery tickets and travel to Vegas, Atlantic City, etc. are for the most part those who don’t have the money to waste. Only a very small fraction of what they lose comes back to them in funds for schools as promised. A direct tax would hit all income levels more fairly, would actually channel more to the schools at less expense to the taxpayers, and might even help educate people to understand their chances of winning a lottery are actually about a trillion to 1!

About Harry K. Jones

Statue of Liberty Sold at Auction

Posted on March 27, 2009 by Harry K. Jones

While the above headline is obviously false, for the moment, I’ll bet you didn’t have a hard time believing it, did you? That pretty well sums up the current state of financial chaos in our country today.

Now let’s take a look at a true example. While it too is easy to believe, it’s still a little shocking to accept—but it’s true.

The tallest building in the U.S. is now owned by a London-based insurance broker and will soon be getting a new name. Chicago’s Sears Tower will be renamed the Willis Tower after the Willis Group Holdings Co.

Willis is moving five local offices and nearly 500 employees into the 110-story building. The move is expected to be completed by late summer. Willis will occupy more than 140,000 square feet at $14.50 a square foot, and the company will not be paying anything extra for the naming rights.

In 1969, Sears, Roebuck & Co. was the largest retailer in the world, with about 350,000 employees. Sears executives decided to consolidate the thousands of employees in offices distributed throughout the Chicago area into one building on the western edge of Chicago’s Loop.

The Sears Tower is a 110-story, 1,450.58-feet skyscraper in Chicago, Illinois. At the time of its completion in 1973, it was the tallest building in the world, surpassing the World Trade Center towers in New York. Currently, the Sears Tower is the tallest skyscraper in the United States and the fourth-tallest freestanding structure in the world.

The Sears Tower Skydeck observation deck opened on June 22, 1974, and is located on the 103rd floor of the tower. It is 1,353 feet above ground and is one of the most famous tourist attractions in Chicago.

I, like millions of other tourists, have taken my children to this famous landmark to experience a breathtaking view of Chicago, to experience how the building actually sways on a windy day, and to see far past the city to see Lake Michigan, and the states of Indiana, Michigan and Wisconsin on a clear day. 1.3 million tourists visit the Skydeck annually.

In January 2009, the Skydeck began a major renovation, including the installation of window space which will extend approximately four feet out over Wacker Drive. The new installations will be boxes made entirely of glass, allowing visitors to look through the glass floor to the street 1,353 feet below. The idea is based on similar glass bottom attractions at the Grand Canyon and in Australia. The renovation is expected to be complete in April 2009.

In February of this year, the owners announced they are considering a plan to paint the structure silver. The paint would “rebrand” the building and highlight its advances in energy efficiency. The estimated cost is $50 million. Many will always remember the towering black structure regardless of the paint job.

The top of the Sears Tower is the highest point in Illinois. The tip of its highest antenna is 1,730 feet above street level or 2,325 feet above sea level. The antennas atop the Sears Tower are struck by lightning an average of 650-675 times per year.

Money can do a lot—both good and bad. We’re all seeing that today more than ever before. It’s changing the name of the tallest building in the U.S., but only on paper and maybe a few signs here and there. In the hearts of billions of locals and tourists around the world, it will always be the Sears Tower in our hearts, minds and memories.

By the way, this is just one of the many American landmarks that are disappearing on a regular basis. It’s been happening for quite some time, and we simply don’t seem to recognize it. Watch this column for additional examples in the near future.

AchieveMax® Blog

Business articles on change, creativity, customer service, leadership, motivation, teamwork, and time management, written by AchieveMax® professional speakers.

Category Archives: Going, Going, Gone

More Victims of the 2010 Economy

Mr. Goodwrench

The Sony Walkman

B. Dalton Bookstores

Air America

Liz Claiborne Outlets

Pontiac, Mercury, Saturn and Hummer

U.S. News and World Report

Windows XP

Movie Gallery

AirTran

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Like Dominoes on a Windy Day

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Inevitable Retail Hits

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Mass Media Takes a Hit

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The Changes Just Don’t Stop

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Far From Over

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What You May Not Know About Kmart

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See It to Believe It!

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Things That Should Be Eliminated

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Statue of Liberty Sold at Auction

About Harry K. Jones