Radio Shack to close up to 1,100 stores

Another nail in an American company’s coffin

FORT WORTH, Texas – Radio Shack Corp. (RSH) plans to close up to 1,100 of its under-performing stores in the U.S. and reported a wider loss for its fourth quarter as traffic slowed during the critical holiday season.

The reason for the closing these stores is the lack of sales and poor performance. Between the periods ended Dec. 31 and March 1st the electronics retailer lost $191.4 million dollars.

They do not have the same capability as Uncle Sam does to print more Benny Franklins’ as they need it to bail themselves out.

After the 1100 stores are closed it will leave Radio Shack with about 1/4 of the almost 6000 locations, leaving only 4,000 stores.

The locations of the stores to be closed are being selected based on location, area demographics, lease duration and financial performance.

I am, along with millions of other American still waiting to see the gigantic turnaround that Obama promised while on the campaign trail.

Take the time to listen to these outrageous commitments Obama made to get his size 13 into the White House door. There should be a law against such outright fabrications.