Capsule

What We're Reading Today

January 10, 2012 BY CAPSULESNEWS

"TG170 Officially Closes After Nearly 2 Decades"

"TG170, the pioneering Lower East Side boutique that first arrived in 1992, recently succumbed to the beast it helped create. Skyrocketing property values and the influx of lux essentially forced out the longtime neighborhood anchor. First signs of the demise arrived in the fall of 2010, when the threads shop vacated its namesake Ludlow address for the pastures of 77 Ludlow (aka 243 Broome). As neighbors know, this sleepy corridor doesn’t receive much foot traffic (part of the allure), which is why retail turnover is so high. TG170 couldn’t make it work here, either. Last month, owner Terri Gillam announced the end of the run..." (via: Bowery Boogie)

 

"Inside Supreme: Anatomy of a Global Streetwear Cult"

When the controversial young rapper Tyler, The Creator won the award for Best New Artist at the 2011 MTV Video Music Awards in August, he offered an enthusiastic, yet expletive-laden acceptance speech. “Yo, I’m excited as fuck right now, yo,” he said. “I wanted this shit since I was nine. I’m about to cry.” But with MTV’s censors on high alert, the speech was broadcast more like this: “Yo, I’m excited as ______, yo. I wanted ________. ______." (via: BOF)

 

"Top Brands on Twitter"

"As longtime Twitter addicts know, there’s little that people love to tweet about more than Twitter itself. HootSuite, maker of its eponymous social media aggregation tool, offered some evidence of that when it compiled a list of top 15 brands on Twitter. The result: Twitter itself topped the list. HootSuite’s index isn’t based on followers, but on the amount of time the brand spent in the top 10 trending topics and its rank on that list." (via: Mashable)

 

"Why Best Buy is Going out of Business...Gradually"

"Electronics retailer Best Buy is headed for the exits. I can’t say when exactly, but my guess is that it’s only a matter of time, maybe a few more years. Consider a few key metrics. Despite the disappearance of competitors including Circuit City, the company is losing market share. Its last earnings announcement disappointed investors. In 2011, the company’s stock has lost 40% of its value. Forward P/E is a mere 6.23 (industry average is 10.20). Its market cap down to less than $9 billion. Its average analyst rating, according to The Street.com, is a B-." (via: Forbes)

"Mass Suicide Threats at XBOX 360 Plant"

"On Jan. 2, over 300 employees at a Foxconn plan in Wuhan, China threatened to throw themselves off a building in a mass suicide. Foxconn makes Microsoft, Nintendo, Sony products. These workers manufacture Xbox 360s. According to Chinese anti-government website China Jasmine Revolution (via Watch China Times), the workers were protesting denied compensation they were promised. On Jan. 2, the workers asked for a raise. Foxconn told them they could either keep their jobs with no pay increase or quit and get compensation. Most decided to quit with compensation. However, the agreement was supposedly terminated, and the workers never received their payments..." (via: Gizmodo)

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