The CNN take. Chapter 11 is not nearly as bad as Chapter 7, but there's no way I'd spend money there now. CC never impressed me much, and I don't think I ever bought big-ticket items there. I've bought games and small things like SD memory cards. I read on some news page recently that the company was headed for the crapper. (Don't recall where.) It didn't take long.
I'm not surprised. They seemed like a relic from the 80's every time I went there. I will say their online-purchase-in-store-pickup process was excellent, but the rest of their business model was just way out of date.
And not to start another thread, DHL is eliminating over 9,000 jobs right here in Ohio. They're closing down all operations in the US. Fun times. [Edit: The story is not that simple. Read for details.]
I saw this coming light-years away. I worked as a DHL courier for a brief stint. It was an old Airborne Express station and they even still referred to themselves as Airborne Express. There were many reasons ABX struggled in competition with UPS and FedEx and DHL buying them didn't change anything.
They closed their Cincinnati airport hub, relying instead on Wilmington (which then became DHL's main hub in the U.S.). Well Wilmington I guess wasn't prepared properly and packages met severe delays for about a month. I still remember one night when one of the transport guys came into the station for us to load him up with outgoing packages and he said there are hundreds of trailers that have been sitting in Wilmington for two weeks untouched.
Also, not too long ago they ceased internal transport operations in the U.S. Hub-to-hub and hub-to-station transportation was done courtesy of UPS. Not good building up a competitor in an effort to cut costs.
Then they announced the closure of the main Wilmington hub.
Also, Jennie's sister "works" for DHL's U.S. headquarters in Miami, FL, and her boss asked her like six months ago if she was looking for another job. The writing was on the wall. I put quotes around "works" because as of last week she's being laid off, with her job officially terminated not later than March 2009 when the Miami office is going to close.
She was going to try to look for a remaining DHL job here in Ohio, but I don't think she's going to have any luck, obviously.