Borders employees penned the “Ode to a dead bookstore” and left it in front of one of their stores as they closed forever this weekend.

Ah, the frustration of working in retail. The customer is always right, but the newly unemployed workers get the last word.

Some times you need to get angry when your company goes broke. A better solution is to laugh. And I hope the Borders employees got at least a bittersweet smile out of this one.

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Borderless: Borders Is Gone

Top 10 Dying Industries

Recently The Wall Street Journal reported on the “Top 10 Dying Industries” in the United States.

Except for the tux rental business, most of the targeted industries were obvious, where technology has made the old industry obsolete. Photofinishing, record stores, and newspaper publishers are a few (complete list below).

What is The Life Expectancy?

There are some industries that are shutting down slower than others. A key reason is habitual buying: consumers keep buying out of habit, inertia, or ignorance. Example: wired telecom providers.

It’s redundant to have a cell phone and a land line. Still, countless times I’ve heard friends say “But I’ve put my home phone number on so many school forms/neighborhood directories/resumes, I can’t possibly get rid of it.” And consumer reluctance to make a change is one reason why the wired telecom industry will die a long, slow death.

Other industries, however, are finding themselves on death row overnight. Video production services, which used to cost a small fortune to create a 30-second ad, can now be done on a Mac with Final Cut Pro, some lights and a camera. Because of this, there are more than a few highly experienced and talented artists looking for new careers.

The Worst Industries to Bet On in 2011

The complete list of dying industries recorded in The Wall Street Journal include:

• Wired telecommunications carriers
• Mills
• Newspaper publishing
• Apparel manufacturing
• DVD, Game and Video rental
• Manufactured home dealers
• Video postproduction services
• Record stores
• Photofinishing
• Formal wear & costume rental

My Predictions for 2012 Dying Industries

Other industries that are obvious choices that haven’t made the list yet:

• Printing
• Brick & mortar book stores
• Nuclear energy
• Discount gas stations
• Mortgage banking
• Post Office

In response to the WSJ article, DanN wrote:
“Dying industries look bad, but really it just means that capital is being allocated to more efficient industries (electronic books as opposed to paper books, for example). This should increase the standard of living for all b/c it increases productivity and allows labor to allocated to other tasks. The problem is that people are reluctant to change with the times and think their jobs screwing caps on toothpaste tubes should be there forever. This is an old and stupid way of thinking. Dying industries are not a bad thing but you have to willing to adapt (including acquire new skill sets) with the times. If not, you will left behind. People need to take responsibility to plan their own futures (and acquire the skill sets of the future) and not expect someone to give them a job.”

Yes, exactly. That is what adaptability is about. That’s what people do when their companies die: just like a cat, they twist around in mid-air and land on their feet. Somewhere. Which leads to my question of the day.

If you work in a dying industry, why do you stay with it?

UHSRFU47GUTY

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Do You Work For a Dying Industry?

More than 100 tombstones later, I’m defeated. Companies continue to close, although the rate is slowing. Almost 1.5 million businesses closed in 2009 (2010 data not yet available, the statisticians must have closed shop). California, Florida, and New York were the net losers, with over 400,000 company closures.

Behind these failed companies are real stories of lives affected, some suffering far worse than others, Circuit City’s bankruptcy being one I’m close to.

But from this corporate rubble, two stories grabbed my attention. The first is Dolcis Shoes, a UK company that started in 1863. The company had been steadily losing money while expanding, right up to the financial meltdown and credit crunch. It closed in early 2008.

The Dolcis story – although quite a bit more upscale – reminded me of the movie, “Kinky Boots,” about a UK shoe company that has been hiding its losses by stashing unsold inventory in warehouse closets. When the founder’s son inherits the business, it is about to go under. However, along comes a savior of a most unexpected sort. Unfortunately, Dolcis didn’t find their good samaritan.

The other business failure is a common one, a European soccer club. HFC Haarlem was a Dutch club, started in 1889. They were declared bankrupt in 2010. I imagine a lot of sweat, muddy uniforms and curses haunt their playing fields after all those years. Many “football clubs” have filed for bankruptcy in recent years. I don’t know why – if you do, please let us know by adding a comment below.

Football – the kind with the round ball – is big business. According to Forbes’, Manchester United is the most valuable football club in the world, with an estimated value of $1.83 billion, followed by Real Madrid at $1.32 billion and Arsenal at $1.18 billion. Big expenses, big revenues. It makes sense that a world-wide recession would reduce ticket sales, advertising revenue and sportswear sales.

In the headlines, there are several notable business failures in recent months. BlockBuster and Hollywood Video, the storefront video rental companies, lasted much longer than I expected. With online services like NetFlix serving movies over the Internet to your TV or computer, and on-demand movies from the broadband carriers, I don’t know how they managed to hang around. Ironically, while BlockBuster cratered, I watched more and more Redbox kiosks appear. Redbox offers $1 overnight rentals of DVDs, with a limited selection of popular movies and recent releases.

I couldn’t ignore one final story, if only for the cheap shot taken in the reporting of the bankruptcy. In the Atlanta Bankruptcy Law News, Stephen Tanner reports:

“Anyone who has had the displeasure of dealing with debt collection firms will relish in the news that debt collector Hudson & Keyse LLC has gone bankrupt…”

I suspect that anyone who had been on Hudson & Keyse’s call list was relieved that the calls have ended. They might have felt like the company got what they deserved. But let’s face it: the people who worked for Hudson & Keyse probably didn’t enjoy being hated by the people they had to call. They worked for Hudson & Keyse because they needed a job, and that’s what they could get. Their former employees are welcome to The Dead Company Club too.

What are the latest stories about the “non-recession” from the field?

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

The Recession is Over, Right?

“Stay hungry, stay foolish.”                                           — Steve Jobs

If you’re wondering what your next job should be, or suspect/know you’ve settled for a job that’s  “good enough,” watch this video. It’s a short speech. Then tell us if you:

1. Agree and are already following this advice
2. Agree but have responsibilities that demand you put your calling on hold, so to speak
3. Are too worried/anxious/repressed/traumatized to let yourself even listen to the entire message
4. Disagree and wish to tell him where he’s wrong
5. Think he’s a fool

Laurie Phillips writes for and about businesses. She spends too much time ricocheting around the Internet.

chilly photo courtesy of flikr.com/fhisa

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Stay Hungry, Stay Foolish

“Help is on the way, Dear. Help is on the WAYYYYY!”                                                      — Mrs. Doubtfire

Here at The Dead Company Club, we mourn the passing of your former company, be it Land of Leather or Lehman Brothers. If you’ve rebounded and can be philosophical about the experience, that’s awesome. If you think I’m full of it for even suggesting such a state of mind is possible, read on.

Being out of work involuntarily isn’t fun, even if there are lots of others in your ‘hood mowing the grass mid-morning. So stop refreshing your inbox, click over to ILostMyJob.com and let them help. They are there to stabilize, restore and ready you to resume your career or start a new one.

ILostMyJob.com offers suggestions, directions, consultations and useful advice.  “Our mission is to do good for people who have lost their jobs, are involuntarily unemployed, and/or are taking steps to getting back to productive employment.”

Their content is a must-bookmark if you’re working on a full-time job search (Is there any other kind?).  For instance, if you’re timid about salary negotiations, you might want to read their article first before you follow our example of a job counteroffer.

Have you found other job-seeker sites that are worthy of mention?

Laurie Phillips writes for and about businesses. She specializes in all kinds of stuff.

Thanks to our fun foto provider, gruntzooki at flikr.com.

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Ready to Resume Your Career?

Insiders’ Interview Tips

Going for an interview? Then “True Confessions of a Recruiter,” by Connie Thanasoulis-Cerrachio is a must-read. Connie, a former Fortune 500 recruiter, confesses how she weeds out candidates starting the first second she sees them.

No Debby Downers

As a Dead Company Club member you have unique experiences that can be booby traps in an interview.  Watch out for the invitation to complain about how your company failed, how employees got screwed and how bad your life got.  Even though you may have a strong opinion about who is to blame, hold that thought. According to Connie, “anything negative will immediately shift me to the next candidate.”

Do you know your strengths?

Rolling your eyes isn’t an answer to the question, “Tell me about your strengths.” Recruiters expect a thoughtful, serious answer, and you have something unique to offer.

Remember: you’ve been through the fire. When your company died, your assumptions and plans blew up. You had to start over, maybe reeducate, possibly relocate.  You discovered you can march through dramatic changes. You’re more aware of risks and appreciate contingency planning now. Your expectations of an employer have changed. Non-members can’t offer these strengths.

Seeing the good in your hard-won experience — and not whining — might be what wins the job.

Laurie Phillips writes for and about businesses. She is a multi-time member of The Dead Company Club.

cool photo courtesy of flikr.com/emilio_labrador

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Interview Tips for Club Members

“History is merely a list of surprises.”                 –Kurt Vonnegut Jr.

This March, The Wall Street Journal Blog, “Laid Off and Looking” ended. They had followed out-of-work professionals and their struggles to move on. Their readers, a fraternity of survivors, were bummed. “Do not shut this sucker down” was one response. “Pls do not shut this blog down. I need it.” What’s the WSJ missing?

Then a couple of weeks ago, The Vault discontinued their blog, Pink Slipped, which gave job leads and tips for Pink Slippers.  They stated:

“The economic conditions that served as the founding raison d’etre … increasingly seem to be waning.”

I tentatively agreed. The headlines didn’t blare business obituaries like last year. Sure, there are substantial companies like Goldman and Ernst & Young that are facing the big bad wolf, but collapse seems unlikely.

So I was surprised when I started updating The Memorial Garden, our list of dead companies. The number of newly closed companies is mind boggling.

Have corporate failures become second page news? If you’re among the 2010 company bankruptcies, liquidations or flat out busts, what is your story?

Laurie Phillips writes for and about businesses. She is a multi-time member of The Dead Company Club.

cool and creative photo courtesy of flikr.com/bensonkua

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Surprise! Companies Are Still Closing!

Lehman Brothers Dick Fuld

Former Lehman Brothers employees keep getting a pitchfork in the butt. The latest round of abuse comes from Dick Fuld, Lehman’s former CEO, in response to a bankruptcy examiner’s report released March 11, 2010.

Ex-employees were understandably pissed by the 2,200 page report. A March 13th Wall Street Journal article titled “Lehman Report Confirms Former Employees’ Suspicions” begins:

“For Ted Larkin, a Lehman Brothers technology executive when the firm collapsed, the revelations from a bankruptcy examiner Thursday reinforced his angry hypothesis: That it only took a few executives to put thousands of people out of work.

“It confirms my feelings that the majority of the firm were honest, hard-working people that suffered from the hubris of a few individuals,” said Mr. Larkin.”

Yet four days later, the New York Post reported that Fuld – The Boss – felt vindicated by the same bankruptcy examiner’s report. The article reads:

“Fuld privately believes that the report by examiner Anton Valukas provides proof that he did nothing illegal as he steered Lehman through a financial mess that ultimately led the firm to file the largest bankruptcy in US history…”

Confused? Let’s give Dick some help.

Dear Dick:

Illegal or not, you have screwed thousands of employees. You have trashed the financial world. The ripple effect has been more like a tsunami. Vindicated? PLEASE go to dictionary.com and read the definition, Dick.

Sincerely,

The Dead Company Club

Laurie Phillips is a member of The Dead Company Club. She hasn’t yet seen a company that was destroyed by excellent leadership.

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Lehman Leadership Vindicated?

“Giving you a handout will help pay the bills, but it won’t give you dignity.”

My self-esteem was slaughtered when my company was shut down. My lifestyle flipped and my dignity – how I assessed my value to society – evaporated.

Fast forward to 2010. In the eBook, What Matters Now, Jacqueline Novogratz writes:

“Dignity is more important than wealth…It comes from creating your own destiny and from the respect you get from your family, your peers and society.”

By that definition, I was broke. I floundered, waiting for someone to restore my former career success. I expected my imaginary benefactor would offer me the best job I could imagine with an intriguing, prestigious company. But fantasy was a toothless substitute for dignity. It got me exactly nothing.

I eventually learned a very simple lesson:

Only you can create your own destiny.

If you’re sitting on your butt feeling sorry for yourself, you are creating your destiny. If you’re reading this while you take a break from writing a business plan, you are too. It’s your choice.

Do you look around and see others in the same situation? Is the problem of crushed dignity too widespread to overcome? Do you think the phrase “create your own destiny” is too cliche? If so, take heart. I was there too. Cynical, jaded, victimized. But no one could pick me up and point me in a direction to restore my career – except me. You can do it too.

Do you need to restore your dignity? What are you doing to create your own destiny?

If you want to catch up on the trends affecting the working world and society, read the eBook, What Matters Now.

Laurie Phillips writes for and about businesses. She likes to ride motorcycles because it’s life without a safety net. Follow her on Twitter at @ljp26.

photo courtesy of Darren Stone

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

How to Reclaim Your Future

“Will we know a fork in the road when we see it?”

I had to finish about 200 things on my to-do list before I sat down at my desk today.

Wait. That’s a lie.

I chose to spend my time slaving away at that list, which is hefty enough to make a pack donkey bray.

Someone once asked if I got any satisfaction from a day spent checking things off my list. If so, they continued, did that satisfaction last more than a day?

Sometimes rhetorical questions are the safest way to give advice.

In the eBook What Matters Now, Gina Trapani offers a productivity test. She writes:

Getting things done is not the same as making things happen.

You can…

…reply to email.
…pay the bills.
…cross off to-do’s.
…fulfill your obligation.
…repeat what you heard.
…go with the flow.
…anticipate roadblocks.
…aim for “good enough.”

Or you can…

…organize a community.
…take a risk.
…set ambitious goals.
…give more than you take.
…change perceptions.
…forge a new path.
…create possibility.
…demand excellence.

Don’t worry too much about getting things done.

Make things happen.

If you’re at a fork in the road, read the rest of the eBook, What Matters Now. It might be the smartest thing you can do to catch up on the trends affecting the working world and society.

Laurie Phillips writes for and about businesses. She specializes in technology and motorcycling.

cool and creative photo courtesy of flikr.com/drcornelius

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Take This Productivity Test