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(The Federated Guy)   Fingerhut closing, cheap crap becomes harder to find   (corporate-ir.net) divider line 37
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4848 clicks; posted to Main » on 16 Jan 2002 at 8:10 PM (12 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2002-01-16 08:11:48 PM
cool
 
2002-01-16 08:15:09 PM
Sheesh, then that catalog I got yesterday that said "This may be your last chance" was literal. I get them all the time from Fingerhut though.

It's no wonder they are going out of business though. I often wonder how companies that send catalogs out to anyone and everyone make any money.
 
2002-01-16 08:18:36 PM
QVC - 1
Fingerhut - 0
 
2002-01-16 08:18:52 PM
Fingerhut - what a bunch of bottom-feeders. Their business model was setup to make money from "selling" credit - not selling product - and they fed on those who couldn't get credit elsewhere. Great - sell worthless shiat to people who can't afford the interest payment. The world is better off without them (Fingerhut). Federated execs still have to live with their part in the scheme....er, racket...., er, I mean business proposition......e.w.
 
2002-01-16 08:21:46 PM
I have been receiving their “LAST CHANCE” notice for years, I had no idea they were serious.
 
2002-01-16 08:30:15 PM
Pick those f.ucking scabs and toss them aside. Everything will heal.... No wait... something else will fester. It always does.
 
2002-01-16 08:32:24 PM

Being Canadian, I have no idea what a fingerhut is.
 
2002-01-16 08:36:04 PM
Fluffy_Pancake

Have you ever been in one of those 'everything's a dollar' stores? Fingerhut is a catalog of that crap.
 
2002-01-16 08:36:31 PM
Finger this hut you f.ucks. Aloha to thieves....
 
2002-01-16 08:37:07 PM
Now if Damark would just go out of business, this world would be a much better place...

Seriously, these companies (Fingerhut, Damark, Crutchfield, JC Whitney, etc) make their money from 1) poor white trash who can't buy nice things on regular financing because their credit sucks so they charge them 20%...and 2) ripoff membership scams to "buyer's clubs" or "travel clubs" or "protection plans" where you get 30, 60, 90 days of a trial and if you DON'T call, your credit card automatically gets charged for the membership...

That's basically it in a nutshell...
 
2002-01-16 08:49:53 PM
Thank God there are still dollar stores. I meant everything in there is over priced, but it isnt over priced by more then 99 cents.
 
2002-01-16 08:52:48 PM
Play4n6 buyer's clubs ahhh yes, Sam's Club, BJs whole sale, Costco. You spend $25+ to save .03 on four rolls of toilet paper. What a bargan! Only $24.97 to break even. And usually, if you look around, you can get it cheaper at a regular store without having to spend the $25 in the first place.
 
2002-01-16 08:53:07 PM
I have bought things from them.. you can outright buy without using their credit... a few hard to find Xmas items last year.... thought they were a little strange when I started getting their catalog in spanish..(I don't a speak that)...

either way... see ya later chuckles....
 
2002-01-16 08:59:37 PM
Damn!! That's where I buy all my fingers! Now what?

 
2002-01-16 09:03:44 PM
Well, at least we still have Mall*Wart as a source of cheap, plastic crap.
 
2002-01-16 09:05:40 PM
ok well...(tearing up my current $500+ fingerhut bill). Hello free pioneer stereo! Actually its not quite dollar store stuff, its last years models of normal stuff. so, like I did, I got last years stuff this year and got ripped off on the price...until today.
 
2002-01-16 09:23:17 PM
Fingethut was sabotaged! It's a plot by Lillian Vernon and her grey haired stormtroopers to corner the market on over-priced crap!
 
2002-01-16 09:26:50 PM
make that "fingerhut"

oh btw-Play4n6 if i didnt have a buyers club where would I get my 25 gallon tub of miracle whip? :-)
 
2002-01-16 09:37:13 PM
I wasn't talking about those types of buyer's clubs...Sam's Club and Costco are awesome... I'm talking about the Preferred Buyer's Club or other memberships with Fingerhut and Damark type companies that give you like 10% off any purchase or some other discount.....it costs you like $129 a year, so you do the math...
 
2002-01-16 09:38:38 PM
The catalog that arrived at the monkie household today says "Welcome! Here's your free introductory catalog." They are offering to extend Easy Credit to Mrs Monkie, now the question is, should Mrs Monkie apply for the credit? No wonder they are going out of business, they are soliciting a pocket monkie for business.
 
2002-01-16 09:53:23 PM
Geez, man! Now I gotta find a new source for cheap Christmas presents; I live near an Anal-Wart*Mart, but I used to work there so I know too much. They try to kill me every time I go near there.
 
2002-01-16 09:55:51 PM
What the hell is Fingerhut?
 
2002-01-16 09:56:25 PM
(And, more importantly, why the hell is it called 'Fingerhut'.)
 
2002-01-16 09:58:04 PM
Fingerhut is a euphemism. Like "packing fudge". Same place.
 
2002-01-16 10:02:05 PM
What do you know that could get them in trouble? :) tell all!
 
2002-01-16 10:04:05 PM
Yay! Crap! Wait, crap is a bad thing, isn't it? Well then: Yay! No more crap from Fingerhut!
 
2002-01-16 10:16:23 PM
Argh_Dammit, if you're serious, the article said they are organizing collection of receivables.. so I wouldn't write it off yet :).
 
2002-01-16 10:25:32 PM
Isn't Fingerhut the catalog that shows the woman using the "muscle massager" on her face?

Of course it's really just a big vibrator, but my mother would never admit that...

benjamin
 
2002-01-16 10:58:12 PM
Nah, Fingerhut is a euphemism for fisting.
 
2002-01-16 11:36:27 PM
Is it related to Pizza Hut? I hope not.
 
2002-01-16 11:57:47 PM
This oughta save me several hundred a year...

I don't think Crutchfield should be classed with Fingerhut and Damark. Crutchfield doesn't call me every farking week with "special" deals!!!

Die, Fingerhut, DIE DIE DIE!!!

Sorry about that...

And as for JC Whitney, we all know it's crap! But that's part of their charm!
 
2002-01-17 12:57:51 AM
K-Mart is also going belly up.

Big K-Mart stock sell-off the other day - did any of you sell short? From something like $20 down to $2 a share.

There will be many more companies falling like dominos this year.

Look for JPM to crash like Enron. They've been downgraded by Standard and Poor, and they are more heavily leveraged in derivative trading than Enron was.

German owned Chryler may shut down all of it's U.S. auto plants and move all their operations to Mexico or China.
If Chrysler leaves, Ford and GM will have to do the same.

GM is already building cars - Buick - in China and Oldsmobile is history.

Meanwhile the U.S. dollar - Federal Reserve notes - which is not backed by gold is having to compete with the Euro which is 30% backed by gold.

China has announced it is going to dump it's 200 $Billion in Federal Reserve notes in favor of the gold backed Euro.

Even the privately owned Federal Reserve Bank has invested $50 Billion in Euros. Russia and Eastern Europe are investing in the Euro and Japan is thinking about doing the same.

Argentina's economic troubles began when their government gave huge tax give-aways to the rich during a recession.
They also issued national ID cards to everyone about the same time. Now you can't buy anything in Argentina without an ID card.

Now we learn that all 50 states are going to standardize drivers licenses. This is the precursor to national ID's.
Get the infrastructure in place first so they can implement national ID's when the time is right - like right after the next government sponsored terrorist attack.

They're also planning to institute annual driver license renewals. They are enlarging driver license stations with cells so they arrest and detain people when they come in for their renewal. Owe some taxes - you get locked up.

OnStar? They plan on making these GPS tracking devices mandatory on all new cars by 2003. They want to monitor what roads you drive on so they can levy the appropriate city, county, state, and federal road taxes on all drivers. Or if you don't pay your taxes they can remotely disable your vehicle.

OnStar has the capabilty of remotely locking your doors, windows, and shutting off your engine. They're saying this is so they can catch car thieves. But they're not telling us about their real intended uses for this technology.

Oh, BTW this is all Clinton's fault!
 
2002-01-17 01:07:28 AM
For those curious about the name, it's actually a family name. Unbelievable enough there was (or is) a family with the last name of 'Fingerhut' (correctly pronounced fen-geh-hoot, emphasis on the 'geh'). Of course, irregardless of how you pronounce it ,you'll be laughed at when introducing yourself as Mr/Mrs Fingerhut.

Check the corporate history section at Fingerhut and you'll see that the founders were Manny & William Fingerhut and that they began the company selling car seat covers from a garage.

Sure, I need a life but I have a personal stake in the closing of Fingerhut. :)
 
2002-01-17 06:00:43 AM
Federated really screwed the pooch here. Fingerhut's business wasn't so much about the catalogs (in the sense that Victoria's Secret or J Crew are). It was about offering quasi-credit at astronomical effective interest rates to deadbeats living in trailer parks and crack houses. That's why Federated has to deal with such big numbers of Fingerhut "receivables"--installment payments from burger-flippers for their full-length leather Shaft coats.

Something's really rotten when you can't make a buck offering usurious credit to malt liquor drinkers. Those deals have been sending idiots to Dartmouth and Brown for generations.

Thank god I won't have to get those catalogs in the mail anymore. They sell more worthless crap than QVC, HSC, and Tom Bosley combined.

Maybe they could have saved some cash by buying the "single middle aged women with 10 or more cats" mailing list. That's the first rule of business -know your customer
 
2002-01-17 08:34:09 AM
"with an additional 1,300 at telemarketing and distribution centers in eastern Tennessee. "


Why is it that everytime I get a call from a telemarketer or have to dial in to customer service at a large company, I always seem to speak to to person of subnormal intelligence who sounds like Roscoe P. Coltrane?

"This here's AT&T - whatch'all want?"
 
2002-01-17 10:00:37 AM
Its great to see cross-postings between here and F*ckedcompany.com !
 
2002-01-17 03:53:07 PM
You're absolutely right. I posted there as well.
 
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