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Huh.
Ralphs evicting Delanos
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storewanderer
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Alpha8472
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Re: Ralphs evicting Delanos
A supermarket chain that can't even pay its rent? This is a sign of a completely disorganized and unstable company. It is a wonder how they can even survive.
What is going on at Delano's? Is someone in upper management secretly skimming money from the company?
What is going on at Delano's? Is someone in upper management secretly skimming money from the company?
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storewanderer
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Re: Ralphs evicting Delanos
It might be an issue of whatever was loaning money to Delanos. I have seen cases where small businesses had a loan from a bank seized by the FDIC. So the loan is deemed a bad loan and sold off when the failed institution is liquidated. Whoever buys the loan studies it and figures out what to do. In some cases these loans may have current payments but if the sales do not meet the requirements of the loan then the debtor would be in violation of the loan terms and subject to losing it.
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Alpha8472
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Re: Ralphs evicting Delanos
I don't think that a bank failure is to blame. Delano's is simply horribly run. If they can't even pay their rent or healthcare for employees something is seriously wrong. How much are the executives getting paid?
The people behind the scenes who run the company had to have known that their money was running out.
There is simply no excuse to do business with a bank that is going to fail.
You can check http://www.bauerfinancial.com
That website shows star ratings for banks. You should never do business with a bank with the lowest star rating.
Zero stars means that the bank is in danger of failing at any time. Bauer Financial has a very good reputation and so far every single bank that has failed has been rated zero stars by Bauer Financial. The stars do not go down to zero over night. In my opinion, people should move their money out of their bank if the stars go down to even 2 stars. Two stars means the bank is problematic.
Bank failures do not simply happen without warning. People had to have known that the bank was doing poorly. The FDIC watches banks that are in trouble and follows them for months or even years. The FDIC gives ample warnings to banks to stop what they are doing wrong and take corrective action.
Most people don't realize that they could earn hundreds to thousands more dollars each year just by moving to a bank or credit union with better savings rates. Give up the big banks and their rip off rates.
Big corporate banks prey on people's ignorance of financial matters. That is how they make their money. Bank of America, Wells Fargo, Chase, etc. They are places where you hand over your savings and they make money off of it. They give practically nothing back. It's like being robbed blind.
The people behind the scenes who run the company had to have known that their money was running out.
There is simply no excuse to do business with a bank that is going to fail.
You can check http://www.bauerfinancial.com
That website shows star ratings for banks. You should never do business with a bank with the lowest star rating.
Zero stars means that the bank is in danger of failing at any time. Bauer Financial has a very good reputation and so far every single bank that has failed has been rated zero stars by Bauer Financial. The stars do not go down to zero over night. In my opinion, people should move their money out of their bank if the stars go down to even 2 stars. Two stars means the bank is problematic.
Bank failures do not simply happen without warning. People had to have known that the bank was doing poorly. The FDIC watches banks that are in trouble and follows them for months or even years. The FDIC gives ample warnings to banks to stop what they are doing wrong and take corrective action.
Most people don't realize that they could earn hundreds to thousands more dollars each year just by moving to a bank or credit union with better savings rates. Give up the big banks and their rip off rates.
Big corporate banks prey on people's ignorance of financial matters. That is how they make their money. Bank of America, Wells Fargo, Chase, etc. They are places where you hand over your savings and they make money off of it. They give practically nothing back. It's like being robbed blind.
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storewanderer
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Re: Ralphs evicting Delanos
I agree from the point of view of a depositing bank customer to check these things, but small businesses that are already having trouble getting loans will get that money from whatever bank they can. A lot of smaller banks (which have failed) were the ones opting to loan money to such small businesses. I'm not so sure this operation was even part of this situation, but it wouldn't surprise me if they were.
I was in one of the San Francisco Stores today. It will close for good Saturday. I was also in the Fairfax Store... fully stocked perimeter and real lightly stocked center store. Employee was in plainclothes. Bags were blank with no name. Nothing inside says Delanos other than the shopping carts. It looks like they have been cutting the Delanos IGA print off of some price signs.
I was in one of the San Francisco Stores today. It will close for good Saturday. I was also in the Fairfax Store... fully stocked perimeter and real lightly stocked center store. Employee was in plainclothes. Bags were blank with no name. Nothing inside says Delanos other than the shopping carts. It looks like they have been cutting the Delanos IGA print off of some price signs.