4 ms·
Hard to sympathize with businesses that have been around forever and could have, but haven't seen fit to, own their stores.
by 8bitsrule 6y ago
Hard to sympathize with businesses that have been around forever and could have, but haven't seen fit to, own their stores.
- mschuster91 6y agoProbably got gutted by "financial engineers" in some lease-buyback scheme.
- newsclues 6y agoThey owned a lot of land for a long time... https://en.m.wikipedia.org/wiki/Rupert%27s_Land https://en.m.wikipedia.org/wiki/Rupert%27s_Land
- bregma 6y agoThey "owned" the unceded territory for a long time. Sort of the same way gangs "own" territory in the big cities. They also fought with rival gangs like the Nor'westers over expanding that territory.
- bregma 6y agoMost large retailers spin their real estate into a REIT to convert the asset into cash. There is no advantage to the shareholders to lock their capital up in a non-revenue-generating asset.