It’s obvious we are in a recession so the question you may want to ask yourself is what to do about it so that your family comes up smelling like roses.  I have been able to sit back and watch this economic disaster without loosing sleep or wondering if the company/business I’m working for will be going down the tubes along with some of the biggest namebrands in history. 

If it’s the 9-5 job you believe is still your security, then don’t finish reading this.  It’s not important to you and you must feel confident in your financial future.  Good for you.  On the other hand, if you aren’t holding a guarantee of anything, read on.

The only security that I believe is really “secure”, is the one we each create ourselves by being our own boss where we call our own shots, own pay, own marketing, own everything. 

Having a home based business in Global Resorts Network provides your family with all the joys, entertainment, benefits and security one could ask for, in my opinion.  And, since this is my blog, I’m freely sharing my opinion.  Here’s why:

1)  The Global Resorts travel club membership will allow your family to travel the world for pennies on the dollar with your resort bookings.  I can’t even begin to put a savings on travel for your family, it’s intangible.  When you can book a 7 night stay at a 5 star resort and pay as little as $99 and the most $799, with many hot weeks, even booked months in advance for just $298 and $398, the savings is rediculous.  You can’t possibly get hurt with the product.

2)  Your membership is transferable for a measly $75, so will it or gift it to someone you love when you’re done with it.

3)  Refer others to this remarkable travel club membership and receive $1,000 every time you do.  And it doesn’t stop there.  When that person refers someone, you make another $1,000 and this continues over and over and over.  It’s not uncommon for a new business owner to create $50K - $300K first year.

4)  Take advantage of all the tax write offs, including the price of your membership.  You now pay taxes after you live, instead of living, paying taxes and then live on what’s left.

5)  Anyone who says $2,995 is a big investment is living in la la land.  It’s nothing.  How much is a big screen TV?  A car repair?  One vacation?  Try buying a pizza joint or renting an empty office building for one stinking month to put a business in? 

There’s zero risk with Global Resorts Network.  The worst, the absolute worst that can happen, is you don’t decide to work the business or tell anyone about the  membership.  What do you have?  You have a lifetime of travel for your family.  In my opinion, I think this is a great Christmas gift to the family. 

Ok, if you like the 9-5 and want to play that game, here ya go.  Best to ya.

Origins:   During prolonged economic downturns (or when signs indicate such a phenomenon is looming on the horizon), retail chains often retrench by scaling back expansion plans, delaying the openings of planned new stores, and closing underperforming or redundant outlets. The long list of chain stores referenced below includes businesses currently in a variety of different financial states; the listed stores are not (as some versions of this item claim) all closing down for good: Some have gone bankrupt and closed for good, some have sought bankruptcy protection but remained open, some have already been through bankruptcy proceedings and have emerged in a reorganized state, some have closed a significant portion of their outlets, and some have closed a relatively small percentage of under performing stores while continuing to open new locations.

A couple of important points to consider are:

* Filing for bankruptcy protection does not necessarily mean a company is going out of business: Chapter 11 provisions allow businesses to propose reorganization plans that will enable them to continue functioning as they pay their creditors over time. Companies who file for Chapter 11 may still go bankrupt anyway (Chapter 7), or their reorganization plans may not be approved by bankruptcy courts, or they may emerge from Chapter 11 protection too weak to remain viable for long, or they may be bought up by liquidation firms, but none of those outcomes is inevitable — many businesses have thrived (or least regained a stable level of performance) after emerging from Chapter 11 protection.

* Although federal law allows companies to stop honoring gift cards when they file for Chapter 11 bankruptcy protection, not all businesses do so. Some companies may continue to redeem store gift cards while they reorganize, while others may temporarily suspend redemption of gift cards for some period of time and resume it later. That any particular retail business has recently filed for Chapter 11 protection does not automatically mean that any gift cards or gift certificates it has previously issued will “not be valid for much longer.”

* It is normal, even in the best of economic times, for large chains to periodically prune their operations by closing older and underperforming outlets. That a chain has closed some of its locations is not necessarily an indicator that the business is experiencing financial difficulty — important factors to consider are what percentage of the chain’s total locations those closings represent, and whether the chain is continuing to open new outlets while it closes others.

Business information of this nature tends to be volatile, especially in times of economic upheaval. As best we could determine according to various news accounts published so far in 2008, the chains named above are planning, or have made, the following cutbacks:

* The Ann Taylor chain of women’s clothing stores (which includes Ann Taylor, LOFT, Ann Taylor Factory and LOFT Outlet stores) said in Novermber 2008 they would expand the scope of a restructuring announced in January 2008 that included the closing of 117 stores (out of approximately 966 locations).

* The Bombay Company chain of imported home furnishings stores filed for Chapter 11 bankruptcy protection in September 2007. All 384 of its U.S.-based stores were closed and liquidated in January 2008 (but new ownership still operates approximately 48 Bombay & Co. stores in Canada).

* The Caché chain of women’s specialty apparel stores closed 14 underperforming outlets (out of 295 stores) but is still opening new locations.

* The Charming Shoppes chain of plus-size women’s apparel
stores has closed 150 of its approximately 2,360 outlets.

* The Circuit City chain of retail electronics stores filed for Chapter 11 bankruptcy protection in November 2008 and is closing 155 stores across the U.S. (More information about Circuit City’s business operations under Chapter 11 protection can be found here.)

* The CompUSA chain of consumer electronics stores was sold to the Gordon Brothers Group restructuring firm in December 2007, and most of its 103 outlets were subsequently closed. In January 2008 many of the remaining assets and the CompUSA brand were sold to Systemax, Inc. which currently operates 23 CompUSA stores in Florida, Illinois, North Carolina and Puerto Rico, as well as an online store, CompUSA.com. (CompUSA continues to accept gift cards.)

* The Dillard’s department store chain announced the closure of 21 outlets in 2008 and said it expects more store closures in 2009.

* The Disney Store chain was reacquired by the Walt Disney Co. from Children’s Place Retail Stores in March 2008, and about 98 (out of approximately 335) of the chain’s North American locations were closed as part of the transition to new ownership.

* The Eddie Bauer chain of casual apparel stores closed 29 outlets (out of about 376 locations) and opened 10 new outlets during the first nine months of 2008.

* The Ethan Allen chain of home furnishings stores closed 12 retail design centers and two service centers in 2008.

* The Foot Locker chain of shoe stores chain closed 274 outlets (out of more than 3,700) in 2007 and another 60 in the first quarter of 2008, with more such closures likely.

* Whitehall Jewelers acquired the remnants of the Friedman’s and Crescent chains in early 2008 after that combined company entered bankruptcy, then Whitehall itself filed for Chapter 11 bankruptcy protection in June 2008 and began liquidating and closing all 373 of its remaining stores.

* The Gap chain of clothiers (whose brands include Old Navy and Banana Republic) closed 17 stores while opening 37 more during the third quarter of 2008, ending with a total of 3,190 outlets. The company expects to close 115 stores while opening 100 more locations during the 2008 fiscal year.

* The Movie Gallery/Hollywood Video video rental chain filed for Chapter 11 bankruptcy protection in October 2007, just after announcing plans to close 520 stores. In February 2008 the chain announced closings of 400 more outlets, and in April 2008 Movie Gallery said they were shutting down another 160 underperforming stores. The chain emerged from bankruptcy reorganization in May 2008 and currently operates about 3,500 outlets.

* The Home Depot chain of home improvements stores announced in May 2008 that it would be closing 15 underperforming outlets.

* The KB Toys chain of retail toy stores entered Chapter 11 bankruptcy protection in January 2004 and at that time announced plans to close 375 of its outlets. It emerged from Chapter 11 reorganization in August 2005.

* The Kirkland’s chain of home decor stores is expecting to close 130 (of its approximately 335) outlets by the middle of 2009.

* The Levitz Furniture chain filed for Chapter 11 bankruptcy protection (for the third time in ten years) in November 2007 and shortly afterwards began the process of closing its stores and liquidating its remaining inventory.

* The Lowe’s chain of home improvement stores might open fewer new outlets in 2008 and 2009 than originally planned, but the company still expects to complete the opening of between 115 to 120 new stores in 2008, with more new stores (and no closures) to follow in 2009.

* The Macy’s chain of department stores (which also includes Bloomingdale’s) closed 11 (of its approximately 850) outlets in 2008.

* Pacific Sunwear closed 74 underperforming stores in its d.e.m.o. line in 2007 and closed all 154 of its remaining d.e.m.o. stores in 2008. (The company has not so far announced plans to close any of its core Pacific Sunware outlets.)

* The Pep Boys chain of auto supply and repair stores closed 31 low-return outlets (out of approximately 600 stores) at the end of 2007.

* The Sharper Image chain of electronics and specialty gifts stores filed for Chapter 11 bankruptcy protection in February 2008, then began closing and liquidating all 184 of its outlets in June 2008.

* Sprint, a global provider of voice, data and Internet services, announced in January 2008 that it would be closing about 125 of its 1,400 retail outlets.

* Talbots Inc. announced in November 2008 that it was seeking to sell off its chain of J. Jill casual clothier stores. (Talbots has already shed its Talbots Kids, Talbots Mens and U.K. businesses and has closed an additional 28 Talbots stores out of about 1,400 total outlets.) However, we have found no announcement that Talbots is planning to close any J. Jill outlets in the near future: The chain still operates 283 locations, is still opening new stores, and is still selling and redeeming gift cards.

* The Wickes Furniture chain began liquidating merchandise and fixtures at locations nationwide in February 2008 as part of bankruptcy proceedings.

* Wilsons Leather (the Leather Experts) shut down its mall-based locations in Fall 2008, but the Wilsons Leather Outlet stores and e-commerce business was acquired by AM Retail (a subsidiary of G-III Apparel Group), which currently operates 119 Wilsons outlets in the U.S. (Gift cards purchased from now-closed Wilsons Leather mall stores can still be redeemed at Wilsons Leather Outlet locations as well as through the Wilsons Leather web site.)

* Zales Corp,, which operates Zales Jewelers, Zales Outlet, Gordon’s Jewelers, Peoples Jewellers, Mappins Jewellers, and Piercing Pagoda, closed approximately 105 retail outlets (out of 2,130) in 2008, half of them kiosks and half of them stores. However, the company also opened approximately 100 new outlets in 2008, so the net change in the number of Zales-operated stores was relatively small.

Last updated:   24 November 2008

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Sources: Snopes.com

Abelson, Jenn.   “Talbots Is Seeking a Buyer for J. Jill.”
The Boston Globe.   7 November 2008.

Ackerman, Ruthie.   “Sharper Image Files for Bankruptcy.”
Forbes.   20 February 2008.

Barbaro, Michael.   “Retailing Chains Caught in a Wave of Bankruptcies.”
The New York Times.   15 April 2008.

Barbaro, Michael.   “Big Retailers Scaling Back Expansion Plans and Shutting Stores.”
The New York Times.   2 May 2008.

D’innocenzio, Anne.   “Toy Stocks Enjoy Strong Gains As Official Start of Holiday Season Nears.”
Associated Press.   3 November 2006.

Finney, Michael.   “Levitz Furniture Files for Bankruptcy.”
KGO-TV [San Francisco].   27 November 2007.

Hirsh, Lou.   “Wickes Furniture Begins Going-out-of-Business Sale.”
The Press-Enterprise.   29 February 2008.

Kingsbury, Kevin.   “Restructuring Charges, Economic Environment Hurt AnnTaylor’s Net.”
The Wall Street Journal.   22 May 2008.

Kirk, Bill.   “Bogus E-Mail Claims Store Closings.”
The [North Andover] Eagle-Tribune.   19 November 2008.

Kosdrosky, Terry.   “Pep Boys Posts Wider Loss, Outlines Strategic Changes.”
The Wall Street Journal.   28 November 2007.

Lloyd, Mary Ellen.   “Lowe’s Net Falls 24% as Consumers Retreat.”
The Wall Street Journal.   18 November 2008   (p. B3).

McCarty, Dawn and Michael Bathon.   “Whitehall Jewelers Files for Bankruptcy Protection.”
Bloomberg News.   23 June 2008.

Niedt, Bob.   “Erroneous Closings Now an Urban Legend.”
The [Syracuse] Post-Standard.   21 November 2008.

O’Donnell, Jayne.   “Disney to Shutter 98 Stores; Home Depot Closing 15.”
USA Today.   1 May 2008.

Rovella, David E. and Dawn McCarty.   “Movie Gallery Files Plan to Exit Bankruptcy in 2008.”
Bloomberg News.   23 December 2007.

Saranow, Jennifer.   “AnnTaylor, Talbots Plan Further Cuts.”
The Wall Street Journal.   7 November 2008.

Soenarie, Angelique.   “Whitehall Jewelers Going Out of Business.”
The Arizona Republic.   29 October 2008.

Associated Press.   “KB Toys Hopes to Exit Chapter 11 Before Holidays.”
FOXNews.com.   16 May 2005.

Associated Press.   “Consumer Electronics Store CompUSA Is Sold; Will Close All Stores.”
International Herald Tribune.   8 December 2007.

Associated Press.   “Wilsons Leather Closing Stores.”
Green Bay Press-Gazette.   16 February 2008.

Associated Press.   “Children’s Place to Exit Disney Stores.”
Forbes.   20 March 2008.

Associated Press.   “Home Depot to Close 15 Underperforming US Stores.”
International Herald Tribune.   1 May 2008.

Birmingham News.   “Movie Gallery to Shutter Another 160 Stores.”
3 April 2008.

CBS News.   “Macy’s to Slash 2,300 Jobs.”
6 February 2008.

Computerworld.   “Systemax to Buy CompUSA Brand, 16 Retail Outlets.”
9 January 2008.

Dow Jones Newswires.   “Foot Locker 1Q Net Falls 82%; Backs Year Forecast.”
CNNMoney.com.   22 May 2008.

Inside Tucson Business.   “Retail Down-Sizing.”
12 November 2008.

Reuters.   “Dillard’s Cuts Spending, to Open Fewer Stores.”
31 October 2008.

Reuters.   “AnnTaylor Sees Weak Holiday Season.”
21 November 2008.

The Wall Street Journal.   “Gap Net Rises; Chain Affirms Its Guidance.”
21 November 2008   (p. B2).

WHAS-TV [Louisville].   “Many Stores Closing Due to Retail Slump.”
22 May 2008.

WISC-TV [Madison].   “E-Mail Warning About Gift Cards Threatens to Be Holiday Grinch.”  24 November 2008.

If this is enough to get your attention and you fully have grasped that
security is not in the 9-5, I encourage you to fully engage in learning about
the Global Resorts Network home based business opportunity and how
Debbie Turner can teach you how to market.  Global Resorts is just one
Home Based Business Idea.  Visit www.DebbieTurner.com for others.
For a list of resources to build your business, visit www.MentoringWithHeart.com