National Bankruptcy DayPosted: February 10, 2009
The heavens haven’t opened and rained fire today; the stay mitigated some effects which is in some ways, unfortunate, putting off for tomorrow that which will surely pass. The day will be all but seamless to consumers. However, over the coming months, I have little doubt consumers will increasingly complain there is little choice and selection in children’s products. They can’t buy things they took for granted such as replacement parts for bicycles. Prices will increase and product choices will decrease; even among used items. Unfortunately, consumers will look at the “evidence” on store shelves and blame manufacturers for being cheap and greedy. Consumers won’t know to blame the special interest groups behind this law, and since they certainly can’t blame all the manufacturers who went out of business, they’ll just blame what few remain standing. It all started with this law folks. If you’re a manufacturer, you can’t win. You just won’t.
No one expects this matter of the stay to rest unchallenged so we may be up and at it sooner rather than later. And that my friends, could be a very good thing.