If you have a gift card for Circuit City, you’d better RUN and not just walk to the local store and buy something–now. Last Friday, officials with the electronics chain said they have no choice but to close all 567 stores they still own and operate. That includes the 37,000 square foot store located at the Parkway Plaza in Vestal.

Already it seems inventory is growing lighter–you have fewer choices today than yesterday if you’re buying. So now is the time to cash in your gift cards or lose them.

I do have an observation with regard to Circuit City. Last March the company fired 3,400 of it’s highest paid hourly workers. That is, it fired it’s best salespeople, and hired salespeople that would work for less money. That right there was the harbinger of things to come. I recall being surprised and angered that they would simply get rid of their best employees to save a buck. Rubs me the wrong way–I don’t care if the shareholders loved it.

The only way you make money in this world is with other people. I believe firing those workers may have led to the place they are now: bankrupt and liquidating. They can’t even find anyone to buy the company! When you replace your best people with people not as experienced, you sell less products. It’s a pretty simple equation. If you sell less often enough, your competition eats your lunch. Best Buy and Walmart have not only eaten Circuit City’s lunch, they’re enjoying dessert right now.

Locally about 80 people will lose their jobs at the Vestal Circuit City store. I feel for them and wish them all the best. Of course Best Buy is coming soon to the Parkway, but not soon enough. If you’re working hourly you likely need a replacement job asap. Prayers and best wishes to the folks out there looking for work. It’s not a fun environment to be job hunting.

No doubt Circuit City’s corporate officers will be vacationing in the Bahamas as soon as the dust settles from liquidating assets. And so life goes on.

UPDATE: This post was actually composed and scheduled on Sunday, Jan. 18 (although I released it this morning at 8am). It’s nice to see the Press & Sun-Bulletin comes to the same conclusion I have in an article appearing in today’s paper: Circuit City’s death traced back to layoffs.

Technorati Tags: Vestal, Circuit City, bankruptcy