Quote:
Originally Posted by NOPO
Our government is full of stooges trying to increase police presence when there’s proof that doesn’t work and just puts people of color in danger of severe discrimination. Again, REI did not fail because of crime. It failed because it was an overpriced business model. This isn’t an indicator of Portland dying; it’s an indicator that big businesses suck. Hopefully, they’ll lower the rent for that space and get a good local business in there with time. The sky is NOT falling.
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I disagree with the REI business model being a significant culprit, as A) I've ventured in there many times in the past and it is always packed, B) it's other stores (Clackamas, Tualatin) are also always packed when I've been in, so the demand is not lacking given the consistent (as least how it appears to me) customer base and demand, C) "overpriced" seems subjective, as their products tend to be in line, price-wise, with other competitors (Next, Polar, Portland OS, etc.), D) they noted crime/theft (which given the documented occurrences in the recent past, doesn't seem doctored or fake) and the lack of space in its current location (which is accurate, that store is to small for its britches for an REI), both of which are viable business concerns that should factor into their model going forward, and E) their "overpriced" business model has worked (well) in that location for two decades. It might feel outpriced given the current economic situation, but that's not solely REI's fault.
I'm sad to see this, along with several other significant businesses, close in the downtown area in the past few years, and I believe there are several compounding factors that have attributed to it. Increase in crime/theft, the failed drug legalization that was poorly implemented, the lack of security/cop presence (yea yea, hate me for approving the presence of cops, but it works and believing a city without consistent cop presence and action on crime is a pipedream), a city council that is inept at making and implementing effective improvement and change, and high business tax rates that
enable businesses and individuals to move out of state, thus creating economic holes in blue city centers and less taxpayers to the city.
I agree we are run by stooges as you say, but REI did not fail because of a flawed business model. It failed because of the variety of reasons listed above, with the city, its tax rates, lack of security, weakness on crime/drugs, inflation, and slow/mismanaged recovery from the pandemic. I also agree the sky is not falling, but the city needs to do better at accommodating small and large business, because that provides much needed jobs and is the grease that allows the city's economy to run like a more effective, positive machine for everyone.