NCIX declares "Supreme Bankruptcy"

[Trik'Stari]

12 hours ago, A_Mediocre_Kangaroo_Farmer said:

That was suggested by linus because of the current state of NCIX at the time. He lays it out quite clearly. As he is control of LMG and TBH doing really well managing it is not a comparable situation. If you didn't think he was planning to sell LMG before there is no more reason to think so now.

 

The only thing I've been wondering is his plan for Floatplane.

Oh I agree. I think he's far too proud (and he has every right to be) of what he has created to sell it off just so he can retire.

 

I was just curious as to how he might respond lol

[LinusTech]

19 hours ago, Trik'Stari said:

@LinusTech, in the recent episode of The WAN Show, you commented that you had a plan for NCIX when you were there, that basically summed up to working towards having the company bought out by another company.

 

I'm curious as to whether or not this is your plan for LMG. Although part of me thinks "No way. He's put too much blood, sweat, and tears into it to ever sell it". Care to comment?

 

I could already flip it and retire if I really wanted to, realistically. LTT is one of the biggest brands in tech media. 

 

Working hard every day and kicking ass is in my blood though. I love running this company and going to work with a world class team every day. 

 

So I have no intention of selling at this time. One cannot know what the future holds - maybe I'll get cancer and I'll need a way to ensure my family is supported once I'm dead - so I'll never say "never". But selling LMG is absolutely not in the best interest of me, my staff or my community right now. 

 

15 hours ago, A_Mediocre_Kangaroo_Farmer said:

That was suggested by linus because of the current state of NCIX at the time. He lays it out quite clearly. As he is control of LMG and TBH doing really well managing it is not a comparable situation. If you didn't think he was planning to sell LMG before there is no more reason to think so now.

 

The only thing I've been wondering is his plan for Floatplane.

Floatplane is also built for long term profit and stability. Typically the value of a company is a function of its revenue and profit projections over a relatively short period into the future + any intellectual property. 

 

I suspect that unless here was some kind of reason for absolute desperation it would make far more sense to hold it than to sell it. 

 

That's how we build business around here. 

[SansVarnic]

32 minutes ago, LinusTech said:

I could already flip it and retire if I really wanted to, realistically. LTT is one of the biggest brands in tech media. 

<snip>

Something to pass on to the kiddos if they so choose to follow your footsteps? That would be an awesome move.

[Terryv]

37 minutes ago, LinusTech said:

 

I could already flip it and retire if I really wanted to, realistically. LTT is one of the biggest brands in tech media. 

I had no idea you did so well. Congrats on your success.

 

I also don't think your brand would do so well without you. You're literally the name and face of the company.

[3 Lions]

1 hour ago, LinusTech said:

One cannot know what the future holds

Exactly. The company my dad works for (an engineering company) has the type of boss that will micromanage everything and won't trust anyone else to run it, yet he can't run the company properly himself. He doesn't care for the working conditions that his staff work in (bad lighting in the shop-floor where there are dangerous machines running and things left on the floor), he doesn't look after the machines that make him the money (the only 2 machines of their kind in the UK), doesn't upgrade the ancient technology (they still use the clock-in card system and not a card and scanner system) and the wages he pays his staff are just diabolical. 

 

What are your thoughts @LinusTech? 

Edited December 3, 2017 by LinusTechTipsFanFromDarlo

[A_Mediocre_Kangaroo_Farmer]

25 minutes ago, LinusTechTipsFanFromDarlo said:

Exactly. The company my dad works for (an engineering company) has the type of boss that will micromanage everything and won't trust anyone else to run it, yet he can't run the company properly himself. He doesn't care for the working conditions that his staff work in (bad lighting in the shop-floor where there are dangerous machines running and things left on the floor), he doesn't look after the machines that make him the money (the only 2 machines of their kind in the UK), doesn't upgrade the ancient technology (they still use the clock-in card system and not a card and scanner system) and the wages he pays his staff are just diabolical. 

 

What are your thoughts @LinusTech? 

There is no way to make a decision based on the information you have given. For example the decisions made here could be easily excused just based on the economy of the company.

[AshleyAshes]

1 hour ago, SansVarnic said:

Something to pass on to the kiddos if they so choose to follow your footsteps? That would be an awesome move.

I for one look forward to 'ScrewYouDadIWantedToBeAMarineBiologistTechTips'.

[MaxBunny]

7 hours ago, LinusTech said:

maybe I'll get cancer and I'll need a way to ensure my family is supported once I'm dead

Not if you eat right, have some activity in your life, get enough sunshine, and stay away from components with iffy materials (like how motherboards used to contain lead).

[Jman87]

TLDR at bottom. Man that got long.

 

     I remember circuit city was my personal go-to store back in the day... Then, they went bankrupt, competition from Best buy... Whom has pretty much turned into a showroom, and carries limited stock, especially on PC components.

 

     RadioShack... That company had it coming. They did not adapt well.. I loved shopping there, even if it was way overpriced. Being able to pick up components, etc.. was a plus. Enter The internet... All brick and mortar stores in the US that are planning for the future, are offering some form of buy online, pick up in store. 

 

     HomeDepot, a traditional building goods store, sells TVs online. Free shipping to your local store, and free shipping most orders over a set dollar amount. Sears, once the go-to for anything, and a super old company is down for the count, hasn't turned a profit in a decade.. it's a matter of time for them. 

 

     Wal Mart deployed an interesting strategy, that forced the closures of multiple local business across the nation, and once they had the location, they had the business and the demand. Which enabled them to dictate prices to suppliers. They figured it out early on. 

   

     JC-Penny started selling major household Appliances to try and snag any business it can.... Macy's is struggling after buying up lots of other chains and trying to expand it's operations... They have closed thousands of stores in the past several years...

 

   TLDR; anyone that has worked in the retail industry in the last 15 years, has seen a huge shift in the way things are done and handled.

 

My point is, you either adapt and overcome, or you don't. We all know what happens then... Oh I member.....

 

PS. As someone who has previously worked in retail, I know exactly where Linus's is coming from. I'm roughly the same age and I've seen the changes happen first hand. I'm so glad I'm not in retail anymore.. I do I.T. work now ???

Edited December 4, 2017 by Jman87
Multiple fixes

[Cal920c]

Has anyone actually purchased the "Supreme File" from the BC justice for the $6.00?

[Sfekke]

This happened to MyCom in the Netherlands & Belgium.

I bought all my IT related parts there, the store was always pretty jam packed (some hours where a bit lighter obviously)

They eventually out of the blue filed bankruptcy and tried to keep stores open by doing a relaunch and finding another company to take them over.

They did manage to get that done, but closed all Belgian stores.

Those guys delivered amazing costumer service, unlike any of the 6 stores we tried before. Actually obeying warranty & trying to find solutions.

That happened in 2014 if I'm not mistaken.

 

At this point I buy everything online through CoolBlue, while you are not face-to-face with them they offer pretty much the same level of customer service. Although if you buy some parts there expect to pay a little premium (€5-€10). But you can get items open box (second chance is what they call it) for quite the steep discount. Even when it is returned for no reason and only the box is damaged + manuals & DVD's are missing.

 

Physical stores are becoming extinct, the ones offering repair are getting closed due to products being glued together and everything being soldered on the main PCB.

 

The end of an era.

 

Good or bad is up to you to decide.

[Tcrumpen]

On 12/2/2017 at 5:00 AM, D13H4RD2L1V3 said:

Well, it's a sad day today.

 

NCIX, of which you will probably remember, has filed for supreme bankruptcy earlier. This was shown on the most recent episode of The WAN Show earlier.

 

However, NCIX has not really publicly stated on why this is so, but Greg has posted this on the NCIX forums.

Source: https://forums.ncix.com/forums/?mode=showthread&forum=192&threadid=2760733&pagenumber=126&msgcount=1&subpage=1

 

Is NCIX dead? Seems like until we get word that it will live on somewhat, seems like it is.

 

F

That's got to be awkward for Linus to talk about

[michaelocarroll007]

On 12/2/2017 at 12:02 AM, Crunchy Dragon said:

I hope it can live on. Maybe make a good turnaround. I've never shopped there, but from what I can tell, it's basically Canadian Micro Center, yes? I can't imagine Micro Center filing for bankruptcy, I get 99% of all my tech stuff there

Tiger Direct had stores and online like micro center and went goodbye.

 

I Don't personally see microcenter going away and they have done okay/well over the last two years so what there doing has worked well currently. They seem to be sort of open to changing and Working on improving there buisness models if need'd Which is the #1 reason why stores go out they focus on cost cutting 100% only and just think thats the answer instead of figuring it out to fit todays world.  Best buy also has gotten them selves from going bankrupt to doing okay. With the ways the fill online orders to renting out mini stores to Apple Microsoft Samsung ect. 

[slavikcc]

It seems like NCIX was on its way down for a long while.  Their entire exit from Ontario, which I mentioned back around July 28th  (https://linustechtips.com/main/topic/814134-ncix-retail-stores-in-ontario-closed-for-good/?do=findComment&comment=10215000) and was featured on @Slick's WAN show document (https://linustechtips.com/main/topic/814240-july-28-2017-the-wan-show-document/?tab=comments#comment-10216016) was especially acute.

 

I really feel for the ex-NCIX employees who lost their jobs, especially the guys at the Ottawa shop who helped me with my massive AIO leakage problem.  May they find greener pastures beyond NCIX and find a stable and good job.

[Trik'Stari]

On 12/3/2017 at 12:50 PM, LinusTech said:

 

I could already flip it and retire if I really wanted to, realistically. LTT is one of the biggest brands in tech media. 

 

Working hard every day and kicking ass is in my blood though. I love running this company and going to work with a world class team every day. 

 

So I have no intention of selling at this time. One cannot know what the future holds - maybe I'll get cancer and I'll need a way to ensure my family is supported once I'm dead - so I'll never say "never". But selling LMG is absolutely not in the best interest of me, my staff or my community right now. 

 

Floatplane is also built for long term profit and stability. Typically the value of a company is a function of its revenue and profit projections over a relatively short period into the future + any intellectual property. 

 

I suspect that unless here was some kind of reason for absolute desperation it would make far more sense to hold it than to sell it. 

 

That's how we build business around here. 

I pretty much assumed all of that. As I said earlier, you've poured too much into LTT and have too much (well deserved) pride in it to sell it out. Even barring all the other stuff about the community and your employees. As someone who is creative in a hands-on, hard to put to paper kind of way, I can really see the appeal of running your own business.

 

I can create something purely out of what I see in my head. It may not always be perfect due to constraints (money, time, materials, etc), but when I have the time and budget to devote to something, I find myself having laser-like focus on that creation. It's something I can't really put into words, I simply see it and let my hands and my imagination take over. I found this most when I did metal and wood work. Computer building is a bit harder but still I can see how that could translate to what you do. You know when something is the way you want it and when it isn't exactly right.

 

I have to say I really, really enjoyed that segment of The Wan Show more than any other segment in the past, at least that I can remember. Something about it felt raw and candid. You should consider doing more content in regards to.... the best way I can think to describe it is "philosophy in business". I don't know why but that whole segment just stuck with me. Maybe it was because it seemed personal and from the heart rather than just "something I thought about good and hard".

 

Thank you for responding.

[Trik'Stari]

On 12/2/2017 at 10:48 PM, Yoinkerman said:

The only thing ncix had modernized since 1999 has been their YouTube video team.  The rest of the store stayed in the past.  There have been 99999 ways in which the ncix community has told ncix how and where they needed to change but it fell on deaf ears.

 

It's been a long time coming 

I did feel like their website was a giant bag of donkey dicks.

 

Then again I still feel the same for Amazon. They really need an entire warehouse of people devoted simply to filters and whatnot.

[Majinhoju]

I'm one of those lucky ones who made a nearly $2000 purchase a few weeks ago not realizing the sinking ship that NCIX had become.  It's a real shame.  NCIX used to be so good.  I would place an order, even a full system build, and I could pick it up in a few days time (sometimes the next day).

 

But on my last order it took a week before I was notified that I could pick anything up and it was just 1 item of  $1800 order.  So I wait another week, get a bit impatient and decide to show up at the Surrey location to see what's going on with my order.  I'm greeted with a "Permanently Closed" sign on the door.  I go home to check their forums and find out about all these closures.  I submit a help ticket online, no answer of course.  I call the head office multiple times the next day during business hours, can't get through.  I somehow managed to get a hold of their Facebook admin by directly messaging their Facebook page.  He lets me cancel my order and tells me the refund will be put into the refund queue.

 

My order still shows "processing" on their website and no refund yet.

 

I called my bank the day NCIX filed for bankruptcy to initiate a charge back on my credit card.  Hopefully I get it soon.  

 

I'm not pleased.  I hope Mr Wu is hanging his head in shame right now and not fleeing the country with my money.

Does Mr Wu live local by any chance?

 

[PocketNerd]

Thankfully I saw the writing on the wall quickly enough to make a shift to Memory Express, which prevented major hiccups in acquiring equipment for the office.

Netlinked going down was the Canary In the Coalmine.

That all said, sad to see a business die off due to poor management. Competition in all markets is needed really badly right now.

[Cannon Fodder]

On 12/4/2017 at 4:14 PM, Trik'Stari said:

I have to say I really, really enjoyed that segment of The Wan Show more than any other segment in the past, at least that I can remember. Something about it felt raw and candid.   [snip]

 

I don't know why but that whole segment just stuck with me. Maybe it was because it seemed personal and from the heart rather than just "something I thought about good and hard".

Gotta agree with that..... I watch a lot of the LTT videos, but RARELY do I watch an entire episode of the WAN show, but this one I did, partially because I've been a long time customer of NCIX, and a long time NCIX forum dweller, but also because I wanted to hear Linus & Luke's take on the whole thing, and as you mentioned, it was "personal and from the heart", instead of the usual WAN show fare. That's not to say there's anything wrong with the WAN show, since it's clearly popular with many, but it's just not my "cup o' tea".

[Majinhoju]

it looks like posting no longer works on their forums now.  

[Guest]

On 12/2/2017 at 11:02 AM, dalekphalm said:

Hmm interesting. The story gets more juicy over time, doesn't it?

 

It's a shame, for around a decade, I used NCIX exclusively for all PC Parts purchases. That's changed for a number of reasons:

1. Their website is frankly garbage, and hasn't fundamentally changed much since I started using them in the early 2000's. LOOK AT NEWEGG'S SORTING/FILTERING AND RIP THAT OFF QUICK! (edit: Canada Computers should take this advice too lol)

2. Their prices are no longer guaranteed to be the lowest

3. There's a convenient Canada Computers ( ) location nearby where I can do in-store pickup

4. There's more competition now, with NewEgg.ca and CC, and even Amazon (though Amazon is still a mixed bag in Canada for PC Parts)

 

They never expanded into the Tri-City area in Ontario, so their Ontario retail expansions never benefited me directly.

As a high school science teacher, I wonder what it`ll be like for my graduates who want (or have to) work in the technology-retail field. Can they make a profit...  When students graduate, I sincerely want them to remain in Ontario to develop their careers.

The last time I built a computer, I went to mom-and-pop shops for the PC parts.  That must be outdated, for 2017.  Now, I end up buying used enterprise-level equipment for home use (I get a deal with my employer).

[Guest]

On 12/5/2017 at 10:40 PM, Cannon Fodder said:

Gotta agree with that..... I watch a lot of the LTT videos, but RARELY do I watch an entire episode of the WAN show, but this one I did, partially because I've been a long time customer of NCIX, and a long time NCIX forum dweller, but also because I wanted to hear Linus & Luke's take on the whole thing, and as you mentioned, it was "personal and from the heart", instead of the usual WAN show fare. That's not to say there's anything wrong with the WAN show, since it's clearly popular with many, but it's just not my "cup o' tea".

Can I hear a hell-yeah!  It was an evocative episode.  Raw.  I appreciate their courage to share their feelings to the YT masses (brave).

[GoodBytes]

14 minutes ago, PrometheanCat2 said:

As a high school science teacher, I wonder what it`ll be like for my graduates who want (or have to) work in the technology-retail field. Can they make a profit...  When students graduate, I sincerely want them to remain in Ontario to develop their careers.

The last time I built a computer, I went to mom-and-pop shops for the PC parts.  That must be outdated, for 2017.  Now, I end up buying used enterprise-level equipment for home use (I get a deal with my employer).

Retail is a fine to get starting experience in the field if you have nothing, summer job, job while doing studies (assuming you can manage the hours), and things like that, but not a full time career. They are very few that does a life career in retail stores in general, and wage is low. If anything, they quickly become manager after several years, and minimizes "on the floor" retailing (basically, they only manage or assist in managing a store, and go where problem occurs to solve them, but not direct selling). Or open and operate their own store (physical or not), but that comes down to manager and entrepreneurial role over retail.

 

You should push your students to go in IT field (technician, software developer/engineer, hardware engineer working in many fields such as Communication, IoT, AI, gaming, and so on).

 

[AshleyAshes]

6 minutes ago, GoodBytes said:

Retail is a fine to get starting experience in the field if you have nothing, summer job, job while doing studies (assuming you can manage the hours), and things like that, but not a full time career. They are very few that does a life career in retail stores in general, and wage is low. If anything, they quickly become manager after several years, and minimizes "on the floor" retailing (basically, they only manage or assist in managing a store, and go where problem occurs to solve them, but not direct selling). Or open and operate their own store (physical or not), but that comes down to manager and entrepreneurial role over retail.

 

You should push your students to go in IT field (technician, software developer/engineer, hardware engineer working in many fields such as Communication, IoT, AI, gaming, and so on).

 

I'd say that the biggest issue is that retail does nothing for your resume but get you more of the same retail. There's no where to 'climb'.  In contrast, as a visual effects artist, every year of experience in my resume gets me into more and more companies at higher and higher wages and even into new departments where the experience is useful.  In short, I got no where to go up but retail experience is a plateau.

[Guest]

7 hours ago, AshleyAshes said:

I'd say that the biggest issue is that retail does nothing for your resume but get you more of the same retail. There's no where to 'climb'.  In contrast, as a visual effects artist, every year of experience in my resume gets me into more and more companies at higher and higher wages and even into new departments where the experience is useful.  In short, I got no where to go up but retail experience is a plateau.

If I was Emperor of Canada, I’d make Co-Op mandatory. Yeesh.