Department Store's Future?

I see from Greg Reynolds and Lileks that other towns have seen what we've seen here.  Greg's Knoxville area has their Proffitt's stores turned into Belk's.  Lileks' Minneapolis had their Gimbels turned into Macy's.  We in Louisville have had our Bacon's turned into Dillard's.  All with the same results.

Looks like this trend towards consolidation has had it's economic downside.  Sure, decisions like this are always sold on the idea that the "economic efficiencies" of a larger corporation will bring more profits.  Those gains get soooo offset by the lack of the bigger chains true understanding of local markets.  The local guys, without those big efficiencies, made more of an economic impact in their area because they understood their local market.

I think we've seen that in the local area in another industry.  As much as I liked to complain about the Bingham family's liberalness with their media conglomerate, the broken up pieces (WHAS radio/TV and Courier-Journal) have definitely seen their better days under the Bingham's guidance.  Still speaks wonders about local control.

-Colonel Steve