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"internet Killed The Radio Store" - Mall Vacancies Hit All Time Record

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http://www.zerohedge.com/news/internet-killed-radio-store-mall-vacancies-hit-all-time-record

Two years ago, when discussing the long-term prospects for Bill Ackman's aggressive pursuit of General Growth, we noted that while the short-term post-reorg oversold bounce is warranted, the secular shift away from big-box stores and disappearance of retailers means that many more bankruptcies are sure to follow, and will be punctuated by all time highs in mall vacancies courtesy of an ever-growing shift to internet shopping. So while the incremental bankruptcies in commercial REITs have been slow in coming primarily due to record low interest rates, the mall vacancy number just hit a new all time high. According to Bloomberg Brief: "In 1979 the one-hit wonder Buggles sang “Video killed the Radio Star.” Several economic indicators suggest it’s time for a Buggles revival: “Internet Killed the Radio Store.” The popularity of Internet shopping is having a considerable impact on the retail landscape; mall vacancies are at the highest level in measured history, big box stores are looking to reduce their footprints, and those selling book, electronics, and sporting goods are closing. During the third quarter, vacancies at regional and super-regional malls rose to 9.4 percent from 8.8 percent a year earlier and 9.3 percent in the second quarter, according to the New York-based property research company Reis. This was the highest since data was compiled in 2000." In other words, in addition to the Fed, REITs are the next entity class to have gone all in on interest rates never going up: because without organic upside growth, the only marginal benefit is from continues interest benefits. Once those end, it is game over, first on the margin, and then literally.

So America first off-shored it's manufacturing base to concentrate on hedonistic shopping now those shoppers can't be bothered to leave the house and prefer to do it at home. Plus of course those consumers with spare cash are looking for the best possible deals which are online as local stores with larger overheads are struggling to compete...

Still thank god for the recovery.

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What are all you bastards going to do once me and trickster automate 90% of jobs out there?

There are very few jobs available on a widespread scale which need conventional intelligence. Even surgeons will eventually be replaced by point precision machines which don't make mistakes.

I'm struggling to think of jobs which won't be replaced by automation outside of the jobs which will be created BY the automation industry which can count as basically everything involved with IT. Psychologists and teachers will always need to be human, you need the 'human touch' ie these jobs are very necessary to be people driven as it's based on communication through what can be emotive subjects.

Obviously managerial roles need the human touch too, so any jobs involving managing people in a company will be hard to replace. But doesn't leave much does it?

I bet there is a large swathe of the public sector I can replace with a code.

The internet was and is and always will be the biggest step in automation we made in terms of usefulness and number of jobs it replaced. I don't think anyone has calculated how many jobs have been lost because of the internet. And most of the internet market is dominated by big business, just like the real world as big money buys the necessary high level internet marketing services.

Edited by Saberu

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There are very few jobs available on a widespread scale which need conventional intelligence. Even surgeons will eventually be replaced by point precision machines which don't make mistakes.

Famous last words, what are you going to do once machines can invent and improve themselves? Lets face it your intelligence is pretty limited. :P:ph34r:

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What are all you bastards going to do once me and trickster automate 90% of jobs out there?

You're very confident in your abilities. I can only assume you're already very wealthy from previous projects you've done that have given you this level of confidence in your ability? Though that does raise the strange question as to why someone so wealthy and clever would waste so much of their time posting on an Internet forum when they could be with some hotties in Monte Carlo, trekking in the Himalaya's or Scuba diving at the Great Barrier Reef.

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"What are all you bastards going to do once me and trickster automate 90% of jobs out there?"

Go into BTL.

Even that can be automated!

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What are all you bastards going to do once me and trickster automate 90% of jobs out there?

Not noticed you manage to automate my Sainsburys Local yet. Still needs a driver for a lorry. someone to help unload it, more people to stack the shelves, price things up. Look forward to seeing the robots you build to do that.

Edited by John Steed

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Even that can be automated!

I thought it already was.

Call Assetz.

send money

relax with cocktail

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What else killed it...

1. travel costs

2. parking costs

3. overcrowding and traffic jams making it a deeply unpleasant experience

4. begging, chugging, anti-social behaviour ...making it a deeply unpleasant experience

and, they are all the same.

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What else killed it...

1. travel costs

2. parking costs

3. overcrowding and traffic jams making it a deeply unpleasant experience

4. begging, chugging, anti-social behaviour ...making it a deeply unpleasant experience

The smoking ban, I'd say has made it a deeply unpleasant experience as all the outdoor spaces are occupied by smokers getting their fix. I feel as though I've smoked 20 Rothmans when I've walked from one end of town to the other. Also lack of any real choice or competition.

Edited by John Steed

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Not noticed you manage to automate my Sainsburys Local yet. Still needs a driver for a lorry. someone to help unload it, more people to stack the shelves, price things up. Look forward to seeing the robots you build to do that.

A piece of software doing all the organising and managing for that isn't beyond the realms of possibility, though.

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Obviously managerial roles need the human touch too, so any jobs involving managing people in a company will be hard to replace. But doesn't leave much does it?

Do machines require the human touch? Bloke with hammer would be much more useful.

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So the Super Malls, who were fine with killing off trade in the surrounding local high streets, are now whinging because they are being killed off by the internet.

Shopping malls killed themselves. Once upon a time a trip to one might have been an experience, but as every one is now exactly the same with all the same shops, when you have been to one you have been to them all. When they die something more interesting may emerge from the ashes, a place where small shops can exist with lower rents, or maybe old idea of the indoor market where traders can start new in the business.

I was interested listening to the food programme the other week, where in LA the cost of opening a new restaurant is hundreds of thousands,so they just don't open. So instead people have setup with food trucks selling absolutely everything and a totally different market emerges.

Stores will adapt, but the old way of doing things need to die first.

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Shopping malls killed themselves. Once upon a time a trip to one might have been an experience, but as every one is now exactly the same with all the same shops, when you have been to one you have been to them all. When they die something more interesting may emerge from the ashes, a place where small shops can exist with lower rents, or maybe old idea of the indoor market where traders can start new in the business.

I was interested listening to the food programme the other week, where in LA the cost of opening a new restaurant is hundreds of thousands,so they just don't open. So instead people have setup with food trucks selling absolutely everything and a totally different market emerges.

Stores will adapt, but the old way of doing things need to die first.

The malls are soulless places large warehouses filled with racks of hanging stuff, in your face advertising, air conditioning, bright artificial lights, greasy food smells, slippery floors, milling ant like people with bags.

How about popup shops....no one is committed, low rent, new and different products, original products,local crafts and foods.....each visit would be a new experience, the popular will stay as long as they had the goods to display.......free parking a must. ;)

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What are all you bastards going to do once me and trickster automate 90% of jobs out there?

There are very few jobs available on a widespread scale which need conventional intelligence. Even surgeons will eventually be replaced by point precision machines which don't make mistakes.

I'm struggling to think of jobs which won't be replaced by automation outside of the jobs which will be created BY the automation industry which can count as basically everything involved with IT. Psychologists and teachers will always need to be human, you need the 'human touch' ie these jobs are very necessary to be people driven as it's based on communication through what can be emotive subjects.

What you need to realise is that you are not replacing humans with machines. You are replacing them with fossil-fuel derived energy. The machines are merely the tools that the energy uses.

And the sources of that fossil fuel energy are subject to depletion. Scarily so.

An old favourite: http://thearchdruidreport.blogspot.com/2010/04/twilight-of-machine.html

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What you need to realise is that you are not replacing humans with machines. You are replacing them with fossil-fuel derived energy. The machines are merely the tools that the energy uses.

And the sources of that fossil fuel energy are subject to depletion. Scarily so.

An old favourite: http://thearchdruidreport.blogspot.com/2010/04/twilight-of-machine.html

That's a great blog post. The problem is that humans also derive much of their energy from fossil fuels via agricultural fertilizer and transportation of the food. And the humans still need fossil-fuel derived tools to replace the machines. When the machines break down we can scrap or repair them. If the humans break down or otherwise lose productivity - we still need to feed them.

Put like this - I don't know which the most efficient or reliable anymore (especially when a human isn't 'useful' for at least 16 years).

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What are all you bastards going to do once me and trickster automate 90% of jobs out there?

How many times do you reckon you automate a job tho?

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A piece of software doing all the organising and managing for that isn't beyond the realms of possibility, though.

Incredibly easy actually, it was a pretty bad example if used as an argument against automation. We already have the Google car, shelves can be automatically stacked from having an automated conveyer belt that operates inside the aisles and underneath the supermarket. Problem is they can only do this on new supermarkets as it wouldn't be cost effective to change existing ones. And I assume it's still not cost effective yet, but I can tell you the reason Tesco and Sainsbury's are getting crazy for part-time staff is they are looking 20-30 years into the future when they won't need as much staff and part-time is easy to lay off.

By the way sorry if my initial post seemed arrogant I was trying to guage a reaction from people by putting my point accross in an emotive way, even though I think I have the programming skills to know how to logically code such things, I far from have the technical knowledge of the programming languages required- I stick to web programming as it's easy and useful. But I can tell you as a fact there are thousands of people around the world right now better than me at coding who also know which technical language to use for applications such as robots etc.

When I said me and trickster I was more talking about people in the IT field who can do programming. And unlike some posters in this thread naively assumed, I am not rich and successful although hope to be in future. I'm just a normal guy with a comfortable job but I'm confident as I believe in my abilities, and that confidence is something most guys lack including a lot of people technically smarter than me. I don't think I'm supremely intelligent, I'm confident and I never give up and I think that's what will make me successful.

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When I said me and trickster I was more talking about people in the IT field who can do programming. And unlike some posters in this thread naively assumed, I am not rich and successful although hope to be in future. I'm just a normal guy with a comfortable job but I'm confident as I believe in my abilities, and that confidence is something most guys lack including a lot of people technically smarter than me. I don't think I'm supremely intelligent, I'm confident and I never give up and I think that's what will make me successful.

The classic example of the delusional programming nerd who thinks that their skills will make them master of an IT world, sigh. One on the forum was enough.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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