How bad is it that Circuit City announced its filing for bankruptcy?

one less competitor. mean less product variety, pricing differences, wage earning employees and trickle down effect from consumers with money to spend, more people on welfare or unemployment insurance, one more American that may lose their house to foreclosure for lack of a steady job, one less person with medical insurance or pension benefits.

likewise, those that are still in business, while able to set the price they want, will still feel the pinch because less people will have money to shop them too. which sets up a chain reaction of layoffs, and reductions in the businesses left open.

not only circuitcity is affected, but all the suppliers, truckers, packaging, shippers, banks, money lenders, stock and mutual funds investors, and others directly and indirectly involved with circuit city sales. it's a long line