Connect with us

Business News

Wet Seal is no more – are malls becoming ghost towns?

(BUSINESS NEWS) For everyone who forgot about Wet Seal, you’re not alone. A lot of former mall favorites are closing their doors. The death of retail has been sharp and swift. Can anything save it?

Published

on

wet seal

Now you’ll never get to relive your teens

For those of you still holding on to teen dreams and Wet Seal gift cards, the time has come to cash them in. Actually, the time has passed. The clothing company filed for the second bankruptcy after closing their remaining 171 stores. Wet Seal is no more.

bar

It’s not them, it’s the mall

This is not shocking news for the teen apparel store. Two years ago, Wet Seal filed for bankruptcy after experiencing low sales and a decline in customers overall. However, it is not about competition with other markets.

The truth is that less people are visiting malls in general.

At the beginning of this year, Wet Seal closed the rest of their stores and laid-off all of ther employees after they were unable to find an investor. They listed their assets at an estimated $10-50 million and liabilities of $50-100 million.

Latching onto a trend

This is not an uncommon fate for teen clothing stores these days. Other major brands, including The Limited and American Apparel LLC, have also closed up shop.

Many blame the decrease in mall attendance, especially among teens.Click To Tweet

People are simply not going into these shops, perhaps opting for the convenience of online shopping. In addition, the spending habits of teens are changing. Clothing is something available in second hand shops and teens may not even be shopping for these things in the first place.

bar
However, one store did get a second chance, even though it was not in the stars for Wet Seal. Aeropostale reopened this year after being financially rescued. Unfortunately, Wet Seal could not find the right partner to provide the same monetary assistance. For everyone who forgot about Wet Seal, you’re not alone.

As more and more people continue shopping online, or simply disregarding their once-often field trips to the mall, the future of most stores becomes less secure.

#RIPWetSeal

Natalie is a Staff Writer at The American Genius and co-founded an Austin creative magazine called Almost Real Things. When she is not writing, she spends her time making art, teaching painting classes and confusing people. In addition to pursuing a writing career, Natalie plans on getting her MFA to become a Professor of Fine Art.

Business News

Beware: The biohacking obsession is attracting scammers

(NEWS) Biohacking is finding ways to gain a competitive advantage, while excluding the medical world. It’s great to increase your output, but be cautious when picking your poison…

Published

on

biohacking tea

Wanna live better or longer? [Insert biohack here] will solve all those pesky problems. In all fairness, it’s human nature to seek improvement, especially in our jobs or academics — you know, the things that demand a constant, high performance.

Of course our ears will prick up at the slightest mention of attaining that elusive edge. Remember Aderall in college?

Biohacking isn’t a new topic. The term refers to a wide range of activities to affect the body’s biological systems.

The objective is to optimize health, well-being, and focus. If we are able to effectively manage what we put into our body, our output can increase. It’s not inherently evil.

But social media influencers are key in promoting the latest products/diets/supplements/oils, often doing so for money, not to improve others’ lives. And, there’s a darker side of drug use, both prescription and illegal, leading to potentially dangerous and abusive situations.

The misleading aspect of biohacking is that every body is different.

Regardless of social media promises, people should be wary of ingesting additional products.

Despite the fancy names one can give it, biohacking has the same objective of medicine, but product development typically excludes medical practitioners.

Legitimate medical practices take huge amounts of funding and research to figure out and insure safety, and they’re heavily regulated by the federal government.

A random word of mouth promise about some obscure herbal supplement is not the same thing.

There are no shortcuts to improving one’s health.

And biohacking doesn’t necessarily mean making life more complex. It’s important to start with the basics before jumping to elaborate diet regimens, powders, pills, etc. Simple steps like routine exercise, 7-8 hours of sleep, and healthier meal choices may help get you on track.

It’s amazing to realize what you can change about yourself before joining some random Thought Cult you found on Instagram. And in the case that your health needs a modern, helping hand, do the proper research before falling into the dark internet hole.

Or better yet, consult your doctor.

Continue Reading

Business News

Did Ohio *really* just accidentally legalize marijuana?

(BUSINESS NEWS) Should cannabusiness investors rush to Ohio, or are the headlines about legalized marijuana in the state misleading? The situation is pretty complex.

Published

on

hemp marijuana

Hemp growers and pot smokers alike may benefit from a recently passed Ohio law intended to legalize hemp, but which has also made prosecuting marijuana charges significantly more difficult, if not impossible.

Although many news sources are blasting the headline that Ohio has “accidentally legalized weed,” the truth is slightly more complicated.

On July 30, Ohio legislators signed into law a bill that legalizes the growth and sale of hemp, but not marijuana. Hemp and marijuana are the same species of plant, but while hemp is mostly used for its super strong fibers, marijuana is cultivated to contain high levels of the psychoactive compound THC.

It’s not easy to detect the difference between hemp and marijuana with the naked eye. Connoisseurs might argue that if the bud looks dry, green, and hairless, it’s probably hemp.

But there’s no way to prove it definitively during a police stop or search. Sure, an officer could take a toke and see if it makes him feel funny, but that would hardly be appropriate; the typical protocol is to test the plant material in a lab to determine the percentage of THC.

Green with less than 0.3 percent THC is considered hemp; more than that is considered marijuana.

The problem is that none of Ohio’s city or state level crime labs have the technology to make this determination. The current lab equipment available can detect the presence of THC but can’t tell the amount.

Louis Tobin, the executive director for Ohio’s Prosecuting Attorney Association, calls this recent law “the de facto legalization of marijuana,” not because the bill explicitly make marijuana legal, but because “there’s no way for law enforcement to tell what’s legal and what’s not legal.”

Apparently Tobin and other prosecutors had raised this concern while the bill was being debated, to no avail.

Now police officers and prosecutors are getting mixed signals about how to proceed.

Says Tobin, “There are statues on the books that say you should enforce marijuana possession but another law takes away your tools to do it.”

Ohio’s Attorney General, Dave Yost, sent a letter to prosecutors encouraging them to postpone marijuana indictments. The Office of the Attorney General in Ohio’s capitol city of Columbus announced that they will temporarily cease prosecuting marijuana misdemeanors and will drop all pending cases.

Meanwhile, in Hamilton County, prosecutor Joe Deter is encouraging police officers to go ahead and investigate marijuana-related crimes, and to confiscate anything that looks like it could be either hemp or marijuana. The state Bureau of Criminal Investigation has already been allotted funds to purchase and set up the testing equipment needed to measure percentages of THC. Prosecutors who wish to follow up on marijuana crime cases will just have to cross their fingers and hope that the equipment becomes available before the statute of limitations kicks in.

Even when the right testing equipment gets set up, some suspect that the recent legal change could have a long-lasting effect on how the city prosecutes marijuana misdemeanors. It may prove to be inefficient and costly to prosecute small-time dealers and individuals possessing small amounts of the drug.

Nonetheless, it’s probably too soon for cannabusiness to start investing heavily in Ohio – but it’s a state worth keeping an eye on.

Continue Reading

Business News

The easiest ways to keep remote workers engaged & connected

(BUSINESS NEWS) Do you manage remote employees or an entirely mixed team? These tips will keep you on the right track to avoid communication breakdown.

Published

on

remote workers

Not every workplace has all its employees in the same place. Different office locations, business trips, and freelancers mean your workforce may be geographically scattered. So how do you effectively communicate from home base if your team is remote and widespread?

First things first – invest in the best virtual meeting platform technology you can work into your budget. If you can’t all be in one place, the next best thing is regularly scheduled virtual meetings. Everyone should have a camera so employees get a chance to know who they’re talking to and put names to faces.

Sure, you may not want to see yourself on camera, but your coworkers will appreciate seeing who they’ve been collaborating with and emailing.

If video conferences aren’t relevant to your business, make sure employees at least have some way to get in touch with each other, like Slack, Skype, or even a private Facebook group. Have at least one platform where employees can engage, communicate, and share information with each other.

Foster connection among employees, allowing them to engage and build work relationships. Provide opportunities for non-work related connections to show your employees you know they’re people, not just workers.

If possible, organize small group outings for those in the same city. Even if that’s not feasible, you can still be the connector that brings people together remotely.

Create “water cooler” moments by calling out important events, like birthdays, marriages, or someone completing an important goal. Get to know your employees, and engage in small talk whenever possible to get to know them. This shows your employees you value them and care about their lives.

Sending care packages can go a long way to show your employees you want them to feel included. Is your next meeting being catered at the main office? Order something for your remote employees too. Everyone deserves bagels.

Make sure you also set clear communication expectations about when you can and can’t be reached. Virtual employees need to know when they can expect a response from you and their colleagues since informal interactions are hard to come by remotely.

When managing remote employees, strive for inclusiveness. Be a connector who promotes engagement by knowing your employees, giving them an avenue to communicate with you and each other.

Take time to get to know your employees on at least a semi- personal level, and ensure everyone feels welcomed even if they’re working remotely. This will lead to better coworker relationships, employee retention, and performance.

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!