Don't Worry Honey - I Shrunk the Stores (Updated)

UPDATE --

Today it became official.

The parent company of Bennigan’s, an Irish-themed bar and grill with about 200 sites across the country, filed for bankruptcy, a move that will put hundreds of employees out of work and leave many landlords with empty retail space during a painful time in the real estate market.

A sister brand, Steak & Ale, will also close. Franchise units of Bennigan’s will remain open for now, a spokeswoman, Leah Templeton, wrote in an e-mail message.

We told you - this is not the all clear signal for the economy.

From yesterday's post:

In the midst of today's bear market bounce because an already known consumer survey taken at the top of last month's bear market rally, came up with a minor and insignificant increase, my favorite financial bubble heads on Bloomberg and CNBC have failed to mention that Mervyn's department stores filed for bankruptcy and Bennigans is quickly (like in the middle of the night) closing restaurants.

(A quick Google news search reports locations from Chicago, New Jersey, Florida and Colorado are among those that have not opened for business.)

Don't worry, though, because based on rumors that our band of fools in Washington are going to somehow step in and and remove speculators from the oil and commodities markets has caused oil to drop $3+/barrel, and Wall Street is celebrating.
All of this might just be good news for GM since it still has a few million unsold monster Tahoe SUVs, and it is due to report its non-earnings (meaning another multi-billion dollar loss) Thursday.
So, it seems that corporate America's strategy is to shrink the package sizes, shrink the portion sizes, raise prices as much as possible, keep wages flat, reduce the number of store locations open for business thereby forcing us to drive further, and sell as much of itself to foreign governments as possible.

This way we all get happy in our shrinking of America situation.

Don't Worry, Be Happy

The Best Money Guy.

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