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10 brands like Volvo, JCP, Nook will disappear in 2014

Magazines, cars, and even retailers are in danger of not surviving past 2014, a new report indicates, as many brands are still in hot water, even as the economy slowly improves.

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10 brands that look to be in trouble

Each year, 247WallSt.com identifies 10 important brands sold in America that they predict will disappear before 2014. This year’s list is filled with companies being torn down by innovation, competition, and financing. The take an in depth look at the state of 10 brands in trouble by analyzing sales, losses, market share, public disclosures that may indicate a parent brand will sell the company, sold companies, bankruptcies, loss of customers, and so forth.

The 24/7 analysts claim the following ten brands will disappear in 2014 based on their research:

Rank: Brand: Top Reason it Will Disappear:
1 JCPenney As Macy’s, Target, and Amazon.com are seeing healthy growth, JCPenney has had a lot of drama in recent years, seeing dramatic sales losses that many speculate are insurmountable.
2 Nook Despite a lifeline from Microsoft’s massive investment, the Nook just doesn’t appear to be able to withstand competition from Amazon’s Kindle or the iPad, not to mention e-reader sales are declining overall in favor of tablet computers.
3 Martha Stewart Living Martha Stewart Living Omnimedia Inc. has three divisions: publishing, broadcasting and merchandising. Broadcasting and merchandising look great, but publishing is in the tank and is seeing massive losses and abysmal ad sales. Having already shuttered Everyday Food and Whole Living magazines, Living could be next or at least taken out of print and put online only.
4 Living Social The coupon phase is dying, and competition is tight. Amazon.com wrote down their $175M investment in Living Social by $169M last year and the company lost $50M in the first quarter of this year alone versus a $156M profit in the first quarter of 2012.
5 Volvo As of April, Volvo’s market share has plummeted to 0.3 percent and sold only 19,571 vehicles in the U.S. last year, down 8 percent in a market where sales are trending up overall. In addition to that, several Chinese Volvo dealers committed fraud and the brand is generally thought to be in trouble.
6 Olympus Having dwindled to only 7 percent of the market and three straight years of losses, pledging to stop issuing dividends to investors until they are back in the black, which they and others don’t project will be soon.
7 WNBA With attendance and tv viewership in the dump, the brand will not likely survive current WNBA advocate and NBA commissioner David Stern’s retirement in 2014, and as profitability diminishes and teams disappear, the writing is on the wall.
8 Leap Wireless T-Mobile and Sprint have snatched up all of the small wireless companies, but no one seems to want Leap Wireless whose shares are down 90 percent in the last five years. They won’t be able to build a comparable 4G network or pay debts, and is likely headed for bankruptcy.
9 Mitsubishi Motors With the biggest decline in sales of any brand in America last year, selling only 60,000 units, mostly lower-priced, this company could exit the U.S., particularly after being ranked third from last in the new J.D. Power vehicle dependability survey.
10 Road & Track Hearst bought this famous auto magazine in 2011 and also owns Car & Driver, both of which have seen a dip in ad sales, but Road & Track has been hardest hit. Both headquartered in the same city, consolidation of the brands is a possibility.

Which of these brands will have what it takes to turn things around, or will 2014 see the death of some very old brands alongside a few startups that may not hold up to the test of time?

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

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5 Comments

5 Comments

  1. Greg Fleischaker

    June 5, 2013 at 5:22 pm

    That’s amazing that they make a list every year of companies that they think will disappear before 2014. I bet that was a really difficult list to make 20 or 30 years ago, but will probably be pretty easy in 2015 when they get to look at the past year or two.

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Business News

Plastic bags are making a comeback, thanks to COVID-19

(BUSINESS NEWS) Plastic bags are back, whether you like it or not – at least for now.

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Single use plastic bags are rising like a phoenix from the ashes of illegality all over the country, from California to New York. Reusable bags are falling out of favor in an effort to curtail the spread of COVID-19. It’s a logical step: the less something is handled, generally, the safer it is going to be. And porous paper bags are thought to have a higher potential to spread the virus through contact.

It’s worth mentioning that single use plastic bags are considerably more
environmentally efficient to manufacture compared to paper, cloth, and reusable plastic bags. Per unit, they require very little material to make and are easily mass produced. It also goes without saying that they have a very short lifespan, after which they end up sitting in landfills, littering streets, or drifting through oceans.

In the grand scheme of things, it’s hard to deny that single use plastics have the potential to be as dangerous to humans as COVID-19. Coronavirus is a very immediate existential threat to us in the United States, but the scale of the global crises that stem from the irresponsible consumption of cheap disposable goods, also cannot be overstated. The Great Pacific Garbage Patch isn’t going anywhere. (And did you know that it’s just one of many huge garbage patches around the world?)

So… what exactly are we going to do about the comeback of plastic bags? Because to be honest, I used to work in grocery retail, and it is difficult and often unrewarding. So, I wouldn’t exactly love handling potentially contaminated tote bags all day in the midst of a pandemic if I were still a supermarket employee. You couldn’t pay me enough to feel comfortable with that – forget minimum wage!

I used to have a plastic bag stuffed full of other plastic bags sitting in my kitchen, like American nesting dolls, before disposable plastics fell from grace. (I’m sure some of y’all know exactly what I’m talking about.) This bag of bags was never a point of pride. It got really annoying because it just kept growing. There are only so many practical home uses for the standard throw-away plastic shopping bag. Very small trash can liners; holding snarls of unused cables, another thing I accumulate for no reason; extremely low-budget packing material; one could get crafty and somehow weave them into a horrible sweater, I guess.

I don’t miss my bag of bags. I don’t want to have to deal with another. Hey, Silicon Valley? Got any disruptive ideas for this one?

Even if we concede that disposable plastics are a necessary evil in the fight against COVID-19, the fact remains that they stick around long after you’re done with them. That’s true whether you throw them out or not.

I’m not trying to direct blame anywhere. Of course businesses should do their best to keep their customers and staff safe, and if that means using plastic bags, so be it. Without clear guidance from our federal government, every part of society has been fumbling and figuring out how to keep one another healthy with the tools they’ve got at hand. (…Well, almost every part.)

The changes to the state bag bans have been cautious and temporary so far, which is a small relief. But nobody really knows how much longer the pandemic will rage on and necessitate the relaxations.

I won’t pretend that I have a sure solution. All I can really ask is that we all be extra mindful of our usage of these disposable plastic products. Let’s think creatively about what we might otherwise throw away. We must not trade one apocalypse for another.

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Scammers are taking advantage of the unemployed

(BUSINESS NEWS) In a country that’s been stricken by higher-than-ever levels of unemployment, scammers have found a unique way to target this vulnerable demographic.

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With unemployment rates reaching unprecedented levels in recent months, it’s a fairly safe bet to say that there’s something that many of us currently have in common: we need a job. While these levels are slowly starting to decline, already down to 11.1 percent in June from an all-time high of 14.7 percent in April, the need for steady gainful employment is still great for many Americans. That’s what makes the newest scam making its rounds particularly vile.

There’s a common misconception that people who get scammed largely deserved their misfortune. Whether it’s presumed that they got greedy, they fell for something that was too good to be true, or they were looking for an easy way out, it’s both unfair and unkind to make these snap judgements of victims of scammers. When it comes to scammers, there’s only one party to blame for these wrongful actions — the scammers themselves.

And with literally millions of people looking for a job right now, these scammers have found a new round of susceptible people to target. It’s a fairly well documented fact that scammers have a knack for knowing who will be easy prey, and this latest scam is no different. According to a report from the Better Business Bureau (BBB), scammers have ramped up their efforts to separate desperate job seekers from what’s left of their meager funds.

This scam is nothing new, but it has surged in popularity with the sheer number of people looking for jobs in today’s economy. Dubbed the “employment scam,” it can take on many forms, but the end result remains the same. At the end of the day, if a person is bilked out of their money, then the scammer has won.

What does this scam look like, and how can you safeguard yourself from falling prey to it? Please note that anyone — from all walks of life, no matter your age, your sex, your race, or any other factor — can become a victim of a scam. The only way to protect yourself is to be aware of the scam and recognize the signs of it. If a potential employer asks any of the following of you, then there’s a good chance they’re a scammer:

  • You are required to pay the so-called employer for your own training up front.
  • You are expected to give up your banking/personal info for a credit check.
  • You are overpaid by a fraudulent check and told to wire back the difference.
  • You are told that you need to pay for expensive equipment to work from home.

Please note that these scammers can spoof legitimate companies. They may try to pass themselves off as real-deal businesses; they’ve even tried to emulate the BBB itself. And when you refuse to follow through with their demands, they will double down and might even become hostile and aggressive, resorting to threats and cajoling. It’s important to not cave in; once they start bullying you, they know the gig is up.

The BBB also notes that coronavirus has created a “perfect storm” for scammers, but there are a few things you can do to protect yourself. They advise that you avoid social isolation, as that can make you more vulnerable to scammers. When in doubt, seek out a friend’s feedback. Sometimes a reality check can make all the difference in whether or not you become a mark. Do a little bit of digging online before you accept an “offer” or share personal information. And finally, be prudent. No matter how many warnings the BBB puts out each year about scams, the only person who can really protect you from getting scammed is just one person…yourself.

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American Express’ cash back program helps members support small businesses

(BUSINESS NEWS) Between now and September 20th, AMEX is providing $50 in credits to their cardholders to support local businesses.

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cashback program

It’s no secret that coronavirus has been nothing short of devastating for small businesses. Even with the Small Business Administration (SBA) offering financial relief in the form of the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL), many small businesses are still struggling to keep their doors open. So far, the numbers have been astronomical — to the tune of some 100,000 small businesses closing down permanently, according to a report from the National Bureau of Economic Research — and they’re expected to continue to rise as the pandemic drags on.

With that in mind, American Express has come forward with their own disaster relief program of sorts. Between now and the 20th of September, the credit card company will be offering a cash back rewards incentive for their cardholders. The program is fairly simple and straightforward: for every $10 (or more) that you spend at a small business, Amex will give you a $5 statement credit on your account. This can be repeated up to ten times, for a total of $50 in rewards. Not bad, huh? But the question remains: what’s a mere $50 in the grand scheme of things, and will it actually help out small businesses in the long run?

Well, first and foremost, $50 is no small chunk of change. For most of us, it’s a fairly decent perk, especially since it requires us to do what we would have done anyway (shop at local businesses). Whether you feel like getting takeout from your local mom-and-pop restaurant, you’re going to pick up a few groceries for dinner tonight at your corner market, or you need to take Fido in for a checkup at your neighborhood veterinary clinic, these activities all count toward the reward program. You’re literally getting paid for shopping locally. Easy peasy.

And secondly, historic data does prove that these incentives do work. Amex rolled out their first small business reward program back in 2010, called Small Business Saturday®, as a response to the mass consumerism of Black Friday. In 2015, the SBA decided to get in on the fun and joined forces with Amex, sponsoring the program. Even better, a study from 2019 revealed that a whopping $19.6 billion was funneled back into local economies thanks to the initiative. So while “just” $50 may not seem like much, it adds up to impressive numbers when seen from a more macroscopic perspective.

This isn’t the only program that has Amex’s name standing behind it, either. The company is also the driving force behind the Stand for Small program, which unifies larger businesses who are offering their own helping hand to smaller businesses. Whether you’re looking for assistance in managing your expenses, or you’re in need of help in growing your online presence, the Stand for Small program was designed to help make this possible. Large names like Amazon and eBay are included in the ranks that have rallied behind Stand for Small, lending clout to this program.

So what’s a little extra $50? Is it worth it to you? Sure, the intentions of some of these companies may be somewhat less than magnanimous — there’s no arguing that there’s something in it for them, as well — it doesn’t change the fact that in an economy that’s been crippled by COVID-19, they’re actually doing something instead of just sitting there idly and waiting for someone else to take action.

That, at least, has to be worth something. And if you’re wanting to get your hands on a share of the cool fifty bucks courtesy of Amex, they’d like to remind you that you do need to enroll in the rewards program no later than July 26. If you don’t, you may miss out on your opportunity to help keep small businesses afloat (while also enjoying an extra $5 in your pocket here or there), courtesy of American Express.

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