> > Pep Boys Closing 38 Stores: The auto-parts retail
> > chain Pep Boys will cut
> > about 1,500 jobs and close 38 unprofitable stores and
> > two distribution
> > centers. The cuts affect 5.4% of the company's
> > 28,000-member work force and
> > 5.8% of its 655 stores. The company said in a
> > statement that it expects the
> > cuts to save about $70 million a year on a pretax
> > basis. Analyst James M.
> > Meyer of Janney Montgomery Scott, who's been following
> > Pep Boys for 25
> > years, said "Clearly the selling of spark plugs,
> > mufflers and brakes is
> > becoming a dinosaur because of lifestyle changes and
> > because cars are too
> > complex to fix without an $80,000 computer." (AP, New
> > York Times; Wall
> > Street Journal; Los Angeles Times; The Columbian,
> > 10/31/00)
I don't know who this James M. Meyer guy is or where he came up
with that conclusion, but when I go to the local Autozone, oftentimes
there will be about 4 employees behind the counter, with a line in
front of each person about 3 or 4 deep! The days of working on
your own vehicle are FAR from over...
-Jon-
.---- Jon Steiger ----- jon@dakota-truck.net or jon@twistedbits.net ------.
| Affiliations: AOPA, DoD, EAA, NMA, NRA, SPA, USUA; Rec & UL Pilot - SEL |
| '92 Ram 150 4x4 V8, '96 Dakota V8, '96 Intruder 1400, '96 FireFly 447 |
`------------------------------ http://www.cs.fredonia.edu/~stei0302/ ----'
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