That one is easy. Eddie f'ed it all up himself.

The one I used to go to (Union NJ on 22) had a few knowledgable salesmen, with the other folk working there looking like they stepped straight out of "Jersey Shore."

Before Eddie....

Remember the guy in the hardhat on NYC TV way back? Jerry Rosenberg.

"JGE" (Jamaica Gas & Electric). Started out as a warehouse appliance dealer for union members and civil service members and their families.
At the top, he had 40 stores around the NYC/NJ area... Business collapsed and he got into Disco clubbing.
Only video I can find of the guy...looking trimmer than the wholsale days.
Jerry's Disco: 'That's the Story!!!" - YouTube

Now you're going way back. Good old Jerry, "that's the story".

He definitely was the original appliance discounter and was the first to stand up to the manufacturer's requirement for a fixed retail price. He did it by claiming he was not open to the public...........only to Union members and their families.

Sharp guy............long dead.

When the local Home Depot opened, they staffed the store with people who had been fired from the local WalMart.
Really.

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That was back in the day when Bob Nardelli took it over. The typical approach to cut costs............put in the lowest paid idiot that can transport himself on two legs.

As would be the case, he improved the sales and profits of HD in his seven year tenure, however, the place became a shadow of it's former self and, personally, I don't think it ever recovered.

Nardelli was finally booted in 2007 and he laughed all the way to the bank.

Back in NJ today, hitting up a sheriff's auction and looking at two more fark-lost properties that are going to REO auction this week. Glad that NJ was slow on the way down and is even being slower on the upswing. Suits my deliberative personality well - I can take my time deciding on good rentals.

On the plus side, bumemployment claims will be going down in the fair Garden State, thanks to Christie:
http://www.nj.com/politics/index.ssf/2013/03/christie_proposes_to_toughen_r.html

In the real estate business I would never consider a provocative personal plate like that. Your car will be keyed or you will piss someone off, either way its going to cost you money.

You want to be the gray man in this business, which is why I drive a white middle of the road truck.

Also renters are not bums unless you rent to bums. If yours are I suggest you buy higher quality properties and position your company differently. Lots of people these days have jobs that change so they want to rent instead of buy, etc.

I'm jumping into "affordable housing" now, I love CT law the ROI it creates is quite good. I'm closing on a 9 unit site in May and if it goes well I'll build it out next year, than I want to buy another one. I have my eye on a 13 unit and 23 unit sites next...Eventually I want around 50 units, that's a nice comfortable number.

What are you paying for commercial paper? My bank will do mine around 5% and it adjusts every 5.

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Not the tenants. The stupid goats who bought at 2x current value are bums.