The Transom, Ben Domenech, April 26, 2017

The effect of retail’s collapse on the American imagination. http://vlt.tc/2tib  “Brick-and-mortar retail may soon become an endangered species. Last August, Macy’s announced the closure of 100 stores in America, including a flagship presence in San Francisco. J.C. Penney followed suit. Between 130 and 140 of its stores will close this year. The thousands of employees who work at one of the 154 Wal-Marts closing this year will soon have to find new work. Over 500 Radio Shack locations will soon liquidate their holdings. American Apparel, Wet Seal, Bebe, Office Depot, Aeropostale, American Eagle, Game Stop, Men’s Wearhouse, Payless, The Limited, Abercrombie & Fitch, and many more–all are either going out of business permanently or substantially reducing their physical footprints. The collapse of the physical retail sector in America is accelerating and, in many ways, mirrors the implosion of its more mythologized cousins like the steel industry.”
 
Coke to cut 20% of corporate workers as it battles soda slump. http://vlt.tc/2tih  “Coca-Cola Co. executives said Tuesday they plan to eliminate roughly 20% of corporate staff, as the beverage giant battles a slump in soda sales and expands a long-running cost-cutting program… The reductions will come from a global pool of about 5,500 employees who work in or report to headquarters in Atlanta, a Coke spokesman said.”