Update on the Boscov’s Bailout
“I’ve been to malls where the anchor stores are closed, and it’s like a ghost town,” said Cornelius, who argued that vacant malls were an indicator of a community in economic decline.
In general I would agree, though newer malls, Wal-Mart and other “big-box retailers”, and online sellers like Amazon.com have also undermined the 1950s-model shopping mall.
But Cornelius doesn’t consider that vacant malls are a result of a community in decline, not the cause of it. Does he really believe that government/taxpayers propping up a department store in a mall will save a community? Does he think opening up a bunch of government-owned departments stores (maybe with a liquor store, a post-office, and a few video poker machines) in these vacant malls revitalize the local economy?
Note to Mr. Cornelius: government can’t cure our economic woes, six years of Rendell’s “stimulus” is enough, and the Boscov’s bailout is bad for business.