October 2009 Archives

It wasn't that long ago that when you needed something, you knew you could find it at a department store. Big ones like Marshall Field's, Carson Pirie Scott, Wannamaker's, Woodward & Lothrop and Filene's worked to be one-stop shopping for everything you needed. Maybe you remember a time when Marshall Field's had a grocery in the basement, appliances and electronics on the top floor and everything else you could imagine in between.

Yes, you could find these things in other places, but Field's carried the best of everything. If you wanted the newest and greatest television set, you could go to State and Randolph with its Tiffany glass ceiling, get your new TV and maybe some great clothes. Later that week a green truck would pull up in front of your house to deliver and set up the TV.

Department stores were designed to provide everything under one roof. Certain items and departments sold better and had better returns than others - but department stores were obliged to sell everything under every category imaginable. If it was new, the department store would carry it. Otherwise, for many consumers it just wouldn't exist.

There are not a lot of clear answers for this question. What we know comes from two sources: the CNC's announcement press release and organizer James O'Shea's interview on Chicago Tonight. From my reading, here's what we're told CNC will do (in no particular order):

Despite my doomsday warning a couple months ago, it seems the Sun Times Media Group (STMG) will be granted a reprieve today, in the form of financier James Tyree's purchase and expected capital injection. But reported details of Mr. Tyree's impending purchase agreement do not provide answers for how the Sun-Times plans to stay in business.

STMG has been losing a great deal of money for some time now. Unless Mr. Tyree plans to spend his entire personal fortune on keeping a very expensive butterfly collection, it is clear the he will need to make some major changes to keep his new company in business.

Here I discuss some of the business challenges Mr. Tyree faces and challenge him to take bold action to save his new collection of newspapers.

The Writer

Dad, husband, MBA, homeowner, publisher of hyperlocal Center Square Journal, Cubs fan, media junkie and Democratic political consultant in Chicago. Drop Mike Fourcher a line at mike (at) fourcher-dot-net.

What Is Vouchification?

VOO ´ -chee — The first month of my college freshman year I got into a little trouble with the Dean of Housing. My college newspaper wrote a story about it, erroneously naming me "Mike Vouchey". The name stuck with some of my friends.

Instablog

Some Other Projects