I would highly recommend, though, that you keep the most current information printed out. We are a lot more dependent on electricity than we'd like to think. We recently went through a week of constant power outages so they could fix and replace a transformer a few streets over. If you are in an extended power outage and you have bills due, you will need to have some way to access things. At the very least, the company's phone numbers. You might think you have it, but when it comes crunch time and you have no options to go online, you may find differently and it will be painful. That said, I do do paperless for most things, and think it can be a very helpful thing if you stay on top of it.
Why do we have such a sense of entitlement that "if they're not going to use it, I should get it"! It is not our merchandise to dispose of or even have any say over whatsoever.
Do I like getting name brand things at a discount store with the tags still on? Yes, but as H&M said in a statement, they do give away what they deem safe and what is in accordance with their guidelines. We shouldn't be criticizing companies who feel that they have to destroy merchandise because there are those who would use a system like that to cheat and exploit it for their own profit and gain. You know that is true. There are some people who get excited when the bank gives them too much money back and they don't return it. Do you really think that someone won't try to return these new discarded things for cash? A lot of someones? Less headaches for these companies to do as they've been doing.
I think you just did everyones homework for them. Great Job on putting this together. I must admit I have never thought of making an oatmeal sandwich and I eat it at least 4 or 5 times a week. I may try that.
Ohh yeah... you're number one city for foreclosures is my back yard. Queen Creek is full of great opportunities for investors... short sales, nope. I found this resource for foreclosure lists at phoenix trustee sale auctions.
You can make your small business paperless as well. I use Google Apps, Freshbooks, Right Signature, and Outright.com to file documents, create invoices, keep books, store contracts, and get contracts signed electronically.
I'd secure the investment in a diversified portfolio, with a million in cash accounts.
I'd patch up all my old stuff, and move into a nicer modest home. I'd buy houses to resell or rent. Folks wanting help, would get a nice job to suit them.
I'd devise a stiff gauntlet for those who wanted more than a job, starting with community service and a few other qualifiers. By the time the deadbeats finished the gauntlet, their character would be strong enough they could loan me money!
I'd write a book about how to manifest luck!
I'd buy something for a dollar that I could sell for a dollar and a dime. Then I'd repeat that process in progressive increments of 10%, document it, and teach others how to make two million dollars in 153 deals or so.
I think people who don't work retail don't "get" this. It's just something I've been amused about for the last couple of days, really. Most of the clothing is being destroyed to cut down on employee theft. Period. Fullstop. Internal theft is HUGE, and there's quite a sense of entitlement among lower paid retail employees.
The "no returns without a receipt" suggestion also amuses me since other writers on this website would probably be the first to bitch about a store saying no to their return after they lost their proof of purchase. Marking stuff that goes to places like Marshalls' and Ross doesn't guarantee crap, sorry. I get, at least once a week, someone trying to return damaged returned merchandise they've picked up at discounters and throwing a fit because, no sorry, black/no tags. Also, if people know they can get something for free, don't think they won't do it, wait it out, etc.
Grocery and restraunts toss food thats ok. If these places made these items readily avaliable who would buy it? Its more profitable to toss items and get a credit, than to attempt to sell it or give it away. They also believe it could lead to employees or consumers "damaging"stuff so they can get it free or at a discount.(I've witnessed this)
I had an actually-cheap bike I used to ride in the winter (saving my decent bike for decent weather). Salt + snow did a real number on the chain, and one day when I was heading out to the movies it seized and I had to carry it the last two blocks to the movie theatre. Locked it up out front, and by the time I got out, it was stolen. They stole a bike that you couldn't even pedal, on a snowy day!
Same with my car -- it's 13 years old, and the bumper is all scratched up. Yet it was stolen out of my apartment's parking lot (the cops say the thieves specifically go for the older cars because they're easier to steal).
IKEA throws away alot of perfectly good stuff into their wood and metal bins behind the stores. They try to put some stuff together and sell it, but alot that is too much trouble it tossed.
Such an inspiring article! I am so moved that I wish to tell my own little story...
3 years ago, the scenario was as such: I stood before my mother who yelled at me when she found out numerous printouts of graphic designing courses and design colleges. She thought I was being impractical and naive for choosing a 'useless' career option.
Maybe the fact that my father owned a small advertising design company fueled my mother disapproval as my father was bringing in a humble but sufficient amount of cash from his business. I was always proud of my dad because he pursued his lifelong dream of advertising. When he came home from work he would be tired and fatigued, but he always had a sense of accomplishment which glowed from his face every night. True, he wasn't earning multiple figured salary amounts...but he always managed to keep my younger brother and I happy. He often bought items such as expensive phones or invested in pricey cars just because he 'liked the colours on them'. Earlier on, I thought thought this was slightly immature on his side, since he had a family to support too. But then it hit me...he often pampered me as a child too and gave me things just to see me smile. When I was young, I loved to paint and do origami, but my mother often broke my paintbrushes and tore my paper when she caught me. Dad would buy me more supplies and sat down for hours to watch me paint. He told me once, 'Live your dreams, no matter how big or small they are. Because when you are on your deathbed, the biggest regret will not be about how much money you've made, but that you never even tried that something you dreamed about because of someone or something'
These thoughts flooded my mind when I looked at my mother and those printouts. I finally took those printouts and told her that I may not make that 5 figure salary, I may not have a big house but I will be happy and be proud of my designated career option before I go to bed every night.
Today, I'm in my second year of my design degree. My professors have proudly showcased my work to others students to inspire them. AND I go to bed every night with a tired but happy smile on my face...
This is true. Any magazines that are unsold by the time the next issue comes out are recycled with the big blue box store. They know nobody is going to buy last month's issue and, while they lose money on the unsold ones, they at least get some money back for them and then the old mags are recycled.
They are not, as some might say, just thrown in the dumpster!
Why would anyone buy anything if they could get it for free? It seems none of the businesses are run efficiently. Prices and inventory are too high to begin with. It's like with income tax. Ideally you should not owe taxes, nor get a big refund.
I can understand why some retailers destroy clothing as its supposed to keep the items from being returned -- especially ones with tags on it.
When I worked for Disney and we would routinely cut off tags as well as cut the size tags off so we would know not to return them for cash. Then they would be happily donated.
I also worked for awhile at Barnes and Noble at they too don't recycle books or magazines and its so wasteful. (some may, but the one I worked at didn't)
I agree its a huge waste and if its such a big deal to retailors and their bottom line they should consider donating their overstock to charities that can ship them out of the country to those REALLY in need.
I agree that I wouldn't want to go into a real estate transaction either (a) with the sellers agent acting under "dual agency; or (b) without advice from someone experienced with real estate transactions.
That said - if I know the market, the comps, etc. why wouldn't I just use an attorney experienced in real estate transactions and pay him either hourly or with a flat fee -- one that would be considerably less than the 3% commission rate.
In my case, I'm looking at a much more expensive property ($900K) -- so there's potentially real savings there. The house is in an area I know well, I have very good comp information, I have full information about the house's sale history as well as when it was put on the market and the price reductions (three) that have already happened, and I've bought several houses.
I know I need legal representation from someone with experience - but it seems to me that $1,000 (or even $2,000) would take care of it - and I'd still potentially save $8,000 to $18,000.
I'm not sure why shareholders would care how Walmart got rid of the clothing. If they donate it, it reduces their tax liability. If they destroy it, it is written off as worthless inventory and if they sell it for nothing its just the same thing. All reduce their tax liability. I'm not sure of all the tax laws relevant for Walmart but if they have useless inventory that won't sell, it just gets written off.
The big difference is keeping their normal customers from getting free merchandise that precludes them from spending in the future at Walmart. That's what shareholders would care about. Whether we like it or not, any new clothes given away will inevitably reduce future demand. Much of Walmart's customer base probably does some shopping at a charity thrift store (a really good idea for those who want to save some serious bucks). If it became a widespread practice, people like us would all start writing about how to get Walmart clothes at 90% off.
Maybe what Walmart should do is donate all the leftover clothes to charity in geographic locations where they don't have a presence and their competitors do. Nothing like flooding a competing market with new, super low cost, perfectly good clothing. They could do this while getting some great PR and secretly work on weakening their competition.
With regard to the leftover inventory buyers like Marshall's or Ross, etc. The problem is that they aren't going to buy Walmart quality clothes. They like to buy higher end stuff and then sell it cheaper to a customer group that isn't willing to pay $195 for a dress or $85 for a pair of Jeans. The fact that Walmart is throwing them in the trash tells you that there aren't any buyers for this level and type of merchandise.
I would highly recommend, though, that you keep the most current information printed out. We are a lot more dependent on electricity than we'd like to think. We recently went through a week of constant power outages so they could fix and replace a transformer a few streets over. If you are in an extended power outage and you have bills due, you will need to have some way to access things. At the very least, the company's phone numbers. You might think you have it, but when it comes crunch time and you have no options to go online, you may find differently and it will be painful. That said, I do do paperless for most things, and think it can be a very helpful thing if you stay on top of it.
I have a white sweater that has hair dye on the sleeves. Do you have any suggestions for getting it out?
i have never gotten a link back from this site :( i guess that i should work on increasing the content quality on my site :(
Why do we have such a sense of entitlement that "if they're not going to use it, I should get it"! It is not our merchandise to dispose of or even have any say over whatsoever.
Do I like getting name brand things at a discount store with the tags still on? Yes, but as H&M said in a statement, they do give away what they deem safe and what is in accordance with their guidelines. We shouldn't be criticizing companies who feel that they have to destroy merchandise because there are those who would use a system like that to cheat and exploit it for their own profit and gain. You know that is true. There are some people who get excited when the bank gives them too much money back and they don't return it. Do you really think that someone won't try to return these new discarded things for cash? A lot of someones? Less headaches for these companies to do as they've been doing.
I think you just did everyones homework for them. Great Job on putting this together. I must admit I have never thought of making an oatmeal sandwich and I eat it at least 4 or 5 times a week. I may try that.
Ohh yeah... you're number one city for foreclosures is my back yard. Queen Creek is full of great opportunities for investors... short sales, nope. I found this resource for foreclosure lists at phoenix trustee sale auctions.
it might just be the kind of cd player you have and how long you have had it...
if its new then... that is a really crappy cd player!
Thanks for the mention!
You can make your small business paperless as well. I use Google Apps, Freshbooks, Right Signature, and Outright.com to file documents, create invoices, keep books, store contracts, and get contracts signed electronically.
I'd secure the investment in a diversified portfolio, with a million in cash accounts.
I'd patch up all my old stuff, and move into a nicer modest home. I'd buy houses to resell or rent. Folks wanting help, would get a nice job to suit them.
I'd devise a stiff gauntlet for those who wanted more than a job, starting with community service and a few other qualifiers. By the time the deadbeats finished the gauntlet, their character would be strong enough they could loan me money!
I'd write a book about how to manifest luck!
I'd buy something for a dollar that I could sell for a dollar and a dime. Then I'd repeat that process in progressive increments of 10%, document it, and teach others how to make two million dollars in 153 deals or so.
I think people who don't work retail don't "get" this. It's just something I've been amused about for the last couple of days, really. Most of the clothing is being destroyed to cut down on employee theft. Period. Fullstop. Internal theft is HUGE, and there's quite a sense of entitlement among lower paid retail employees.
The "no returns without a receipt" suggestion also amuses me since other writers on this website would probably be the first to bitch about a store saying no to their return after they lost their proof of purchase. Marking stuff that goes to places like Marshalls' and Ross doesn't guarantee crap, sorry. I get, at least once a week, someone trying to return damaged returned merchandise they've picked up at discounters and throwing a fit because, no sorry, black/no tags. Also, if people know they can get something for free, don't think they won't do it, wait it out, etc.
There's a surplus of goods, and the only way to maintain profits is to create scarcity.
Grocery and restraunts toss food thats ok. If these places made these items readily avaliable who would buy it? Its more profitable to toss items and get a credit, than to attempt to sell it or give it away. They also believe it could lead to employees or consumers "damaging"stuff so they can get it free or at a discount.(I've witnessed this)
netspend is safe!
I had an actually-cheap bike I used to ride in the winter (saving my decent bike for decent weather). Salt + snow did a real number on the chain, and one day when I was heading out to the movies it seized and I had to carry it the last two blocks to the movie theatre. Locked it up out front, and by the time I got out, it was stolen. They stole a bike that you couldn't even pedal, on a snowy day!
Same with my car -- it's 13 years old, and the bumper is all scratched up. Yet it was stolen out of my apartment's parking lot (the cops say the thieves specifically go for the older cars because they're easier to steal).
IKEA throws away alot of perfectly good stuff into their wood and metal bins behind the stores. They try to put some stuff together and sell it, but alot that is too much trouble it tossed.
Such an inspiring article! I am so moved that I wish to tell my own little story...
3 years ago, the scenario was as such: I stood before my mother who yelled at me when she found out numerous printouts of graphic designing courses and design colleges. She thought I was being impractical and naive for choosing a 'useless' career option.
Maybe the fact that my father owned a small advertising design company fueled my mother disapproval as my father was bringing in a humble but sufficient amount of cash from his business. I was always proud of my dad because he pursued his lifelong dream of advertising. When he came home from work he would be tired and fatigued, but he always had a sense of accomplishment which glowed from his face every night. True, he wasn't earning multiple figured salary amounts...but he always managed to keep my younger brother and I happy. He often bought items such as expensive phones or invested in pricey cars just because he 'liked the colours on them'. Earlier on, I thought thought this was slightly immature on his side, since he had a family to support too. But then it hit me...he often pampered me as a child too and gave me things just to see me smile. When I was young, I loved to paint and do origami, but my mother often broke my paintbrushes and tore my paper when she caught me. Dad would buy me more supplies and sat down for hours to watch me paint. He told me once, 'Live your dreams, no matter how big or small they are. Because when you are on your deathbed, the biggest regret will not be about how much money you've made, but that you never even tried that something you dreamed about because of someone or something'
These thoughts flooded my mind when I looked at my mother and those printouts. I finally took those printouts and told her that I may not make that 5 figure salary, I may not have a big house but I will be happy and be proud of my designated career option before I go to bed every night.
Today, I'm in my second year of my design degree. My professors have proudly showcased my work to others students to inspire them. AND I go to bed every night with a tired but happy smile on my face...
This is true. Any magazines that are unsold by the time the next issue comes out are recycled with the big blue box store. They know nobody is going to buy last month's issue and, while they lose money on the unsold ones, they at least get some money back for them and then the old mags are recycled.
They are not, as some might say, just thrown in the dumpster!
i made my child give it up to that was a mess lols
Why would anyone buy anything if they could get it for free? It seems none of the businesses are run efficiently. Prices and inventory are too high to begin with. It's like with income tax. Ideally you should not owe taxes, nor get a big refund.
You always give so much material. it's better spending hours looking everywhere for answers.
John DeFlumeri Jr
Wow, thanks for all the awesome links. I love posts like this.
Cheers.
I can understand why some retailers destroy clothing as its supposed to keep the items from being returned -- especially ones with tags on it.
When I worked for Disney and we would routinely cut off tags as well as cut the size tags off so we would know not to return them for cash. Then they would be happily donated.
I also worked for awhile at Barnes and Noble at they too don't recycle books or magazines and its so wasteful. (some may, but the one I worked at didn't)
I agree its a huge waste and if its such a big deal to retailors and their bottom line they should consider donating their overstock to charities that can ship them out of the country to those REALLY in need.
I agree that I wouldn't want to go into a real estate transaction either (a) with the sellers agent acting under "dual agency; or (b) without advice from someone experienced with real estate transactions.
That said - if I know the market, the comps, etc. why wouldn't I just use an attorney experienced in real estate transactions and pay him either hourly or with a flat fee -- one that would be considerably less than the 3% commission rate.
In my case, I'm looking at a much more expensive property ($900K) -- so there's potentially real savings there. The house is in an area I know well, I have very good comp information, I have full information about the house's sale history as well as when it was put on the market and the price reductions (three) that have already happened, and I've bought several houses.
I know I need legal representation from someone with experience - but it seems to me that $1,000 (or even $2,000) would take care of it - and I'd still potentially save $8,000 to $18,000.
I'm not required by law to use a realtor, am I?
I'm not sure why shareholders would care how Walmart got rid of the clothing. If they donate it, it reduces their tax liability. If they destroy it, it is written off as worthless inventory and if they sell it for nothing its just the same thing. All reduce their tax liability. I'm not sure of all the tax laws relevant for Walmart but if they have useless inventory that won't sell, it just gets written off.
The big difference is keeping their normal customers from getting free merchandise that precludes them from spending in the future at Walmart. That's what shareholders would care about. Whether we like it or not, any new clothes given away will inevitably reduce future demand. Much of Walmart's customer base probably does some shopping at a charity thrift store (a really good idea for those who want to save some serious bucks). If it became a widespread practice, people like us would all start writing about how to get Walmart clothes at 90% off.
Maybe what Walmart should do is donate all the leftover clothes to charity in geographic locations where they don't have a presence and their competitors do. Nothing like flooding a competing market with new, super low cost, perfectly good clothing. They could do this while getting some great PR and secretly work on weakening their competition.
With regard to the leftover inventory buyers like Marshall's or Ross, etc. The problem is that they aren't going to buy Walmart quality clothes. They like to buy higher end stuff and then sell it cheaper to a customer group that isn't willing to pay $195 for a dress or $85 for a pair of Jeans. The fact that Walmart is throwing them in the trash tells you that there aren't any buyers for this level and type of merchandise.