Forbes announced a new list of companies in dire financial struggles and while reading through it my heart sank. Eastman Kodak, Applebees, and US Airways were just a few of the companies named. While the appearance of US Airways name on the list was of little surprise to me (I still recall the horrible service we received back in 2007), I was very sad to see the other two there.
The digital photography craze has been difficult on a lot of companies close to my heart, but the camera industry probably most of all. It has been costly for them to make the transition from film to digital. And while I too have switched completely to digital photography, the past five digital cameras I've purchased have all been Kodak. What can I say, I'm sentimental that way.
As for Applebees financial struggles, I was a little more shocked. Their restaurants (at least in my area) always seem to be pretty busy. They say the financial shortfall is due in part to their slashed prices to draw customers in (it has worked on me). I can completely sympathize with that, but their idea to turn things around has me baffled. They now say they are looking at remodeling their restaurants in hopes of boosting patronage. How is that going to make me want to eat there? ...Enjoy their food more? ...Make dining out fit into my budget more often? The logic is completely lost on me. I do not decide where I want to eat by asking myself or my friends, "Who has the nicest looking restaurant?" That seems so absurd. I get the old adage, It takes money to make money, but in a time of financial struggle, heading to Pottery Barn to redecorate my office doesn't seem like the solution to getting more work!
But hey, that's just my opinion!
Other restaurants seem to be trying more creative solutions during these hard economic times. USA Today reported Burger King will try to increase sales in South Beach...by adding BEER to their menu at their Whopper Bars! They will make the addition in mid-February and may expand into other areas such as Vegas after that. Now the catch phrase is likely to become, "Would you like beer with that?"
enjoy the companies you love, and support them; don't assume they will always be there.