Another One Bites the Dust - MyerEmco Goes Out of Business
Soon, there will be none left. MyerEmco, a mainstay of the east coast HiFi and then audio video market, will be permentantly shutting it's doors after 55 years in business. According to company president Jon Meyer, they just could not stand up to the recession any longer and would have to close their 7 remaining stores.
The other problem was the eroding profit margins in consumer electronics. It is no secret that profit margins, especially on video products, have been squeezed to the point where many businesses no longer make enough profit selling them to justify doing so.
What will end up happening is that, in seeking ever lower prices, American consumers will be forced to shop for complex products in the places that are the least equipped to ensure said products are properly selected and set up. It is a shame, but there is a price to be paid for always seeking the absolute lowest price. In reality it isn't always the lowest. There is a cost to be paid. The experience you end up getting may well be commensurate with the price.
