The Economy of Business

By Kegan Penovich, Layout Editor
    The economic downturn has forced many businesses to file bankruptcy and close their doors. It seems many simply cannot keep revenues high enough to stay afloat in these turbulent times. Even the name-brand stores have taken a hit: Anchor Blue at the Provo Town Mall and Hollywood Video are closing or are already closed.

    Hollywood Video is the easiest one to explain. People use rental systems like Net Flicks or Red Box now because it is cheaper, easier, and often times more reliable. Junior Rachel Park says "It's cheap, it's fast, it's a dollar per day". The idea of getting movies and paying for them without racking up a late fee is appealing. Basically, competition is beating some businesses down and raising others up.

    This is not to say that this is why all businesses take a dive. The Buckle at River Woods also went under. Yes the clothing is expensive, but that does not dissuade most people. Senior Tyler Anderson said "To look cool, you have to pay a price". Walk down the halls and you will see them, Big Star, True Religion, Rock Revival, BKE, Tyler, Mek, these jeans are everywhere. The Buckle at River Woods went under due to bad location. It was tucked away in a small corner next to stores that usually service an older crowd.
    Lots of stores go under due to the bad economy or a bad location, but many go with fads. They stick around for awhile, but inevitably they fade and the businesses that supprted them either change or go under.