tag:blogger.com,1999:blog-721929307371594777.post3926869869823426573..comments2023-10-28T02:47:29.569-05:00Comments on Rogers Park in 1,000 words: Hollywood Video of Rogers Park closesBill Mortonhttp://www.blogger.com/profile/08958945888866140487noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-721929307371594777.post-33473187700421800812010-04-09T21:24:34.709-05:002010-04-09T21:24:34.709-05:00Bill, I believe Hollywood Video is just simply OVE...Bill, I believe Hollywood Video is just simply OVER, and so is every other video store, including Blockbuster. Their stores are closing everywhere and they're going the way of music stores because downloads and rental services like Netflex have rendered them obsolete. <br /><br />I looked up their stock and see that they are now a part of Movie Gallery, which is trading on the Pink Sheets for .002 a share. That is two tenths of a cent a share. <br /><br />It's sad that we can't get the prime retail here in Rogers Park that we'd like to see, but it is not really the fault of the neighborhood, or at least not mostly. It's just that there was way too much retail built all over the country in the boom years 1990-2007, and now these chains are contracting pretty drastically. <br /><br />And we are going to lose a number of them. <br /><br />Look at Border's- the Broadway/Lawrence TIF subsidized that store, and Uptown will lose it anyway because it will close the minute Border's gets it sublet- IF Border's is still even in business by the time that happens. Their stock is under three dollars, and the only reason it's not in the pennies is because it "reverse" split 10 for 1 to get a larger share price. <br /><br />At some point, the large chain stores will start to fail and small local businesses will then have more opportunity. It would help if we'd stop tossing subsidies at them. But many types of retail just don't make it as bricks-and-mortar stores anymore, like books, videos, and music. I wouldn't want to compete with Amazon or Netflex or E-Music or any of the other online vendors.The North Coasthttps://www.blogger.com/profile/14292115710427172625noreply@blogger.com