Joel West

Mervyn's: Death of California's Retail Chain

Dear Einstein,

My point is that Mervyn’s had did have something special, for at least some people. I would agree that looking at the merchandise mix and pricing on paper, it looked like just any other store in a very competitive segment. But it had some sort of niche with a loyal following -- just not a big enough loyal following.

Is America overstored? I dunno; I suppose with all those Wal-Marts and Targets and Kohl's opening, there's a day of reckoning that's been put off, or from all the sales going online.

What I do know is that you will get your thinning of the herd with this recession. For investors and employees, the interesting question is which chains will be bought whole, be bought in pieces (typically out of bankruptcy), and which will disappear entirely with the space to be taken over by yet another Kohl's or Best Buy.

JW

PS: Notsosmart, I certainly agree that too much taxpayer money is bailing out private mistakes. Look for the Madoff bailouts coming soon.