Plenty of thriving companies treat their employees or customers like shit. This isn't what killed Gamestop. They're dying because they didn't keep up with the times. Basically, they're going the way of Blockbuster, rather than evolving to stay relevant like Netflix did.
can you imagine being an executive at GS and everything said in the meeting is relayed to some random dude on the internet for thousands of people to see...they must hate their life lol
15, 16, 20.. it doesn't matter. It's crazy to me that they can pay those level of positions shit and still complain about them being overpaid. Sounds like a shit company that cares nothing for the people actually putting the work in...
People making hundreds of thousands of dollars complaining about people on minimum wage being overpaid is goddamn ridiculous. That's the problem with the world today. Everything is fucking backwards.
I'd be down with that. But good luck affording purchasing and sales rights to AAA titles. They are aboit as greedy as any other corp entity. (Looking at you EA)
Mom and pop stores bring mom and pop prices and selection. To make a profit used game prices would be high. Third party accessories would be expensive. If they did a trade service the prices given would be low. You would have some people out there supporting them but the majority are going to just hit the internet.
Mom and pop stores were plentiful under real capitalism. Under corporatism like now very slim they can't survive. After pandemic with all the businesses going under it will be a corporatocracy.
I mean honestly I think game stores are pretty much obsolete. Everything is online now. Why would I wait in a line that’s stretching around the block for 4 hours when I can literally just download it to my console from home while having a beer and I’m playing it in an hour. All the controllers and accessories can be bought on amazon for a fraction of the price and it’s at your front door the next day, sometimes even a few hours after you hit the order button. Hell, you can even order from a retailer and have an Uber deliver it to you in 30 mins. Game stores just seem like a thing of the past now
I am under the impression that gamestop leadership no longer believes in the gamestop business model and are just trying to bleed gamestop financially for as long as possible. None of their decisions will induce morale moving up for their employees. They maneuver like they're on a sinking ship and they know it and just want to ride it out. Smh
Of course not, this is a company run by people who don't give a shit about games and only want the money they offer. If the people in charge actually gave a shit it wouldn't be this bad.
It looks like their strategy is to set goals so astronomically high that they can fire or force out employees so they can close stores and have an excuse.
@@roflBeck They get more money milking it. Taking pre-order money and any little revenue from the remaining loyal customers. From a business standpoint I get it. Aint saying its right cause its cut throat but I understand it. Leadership doesnt believe in the gamestop brand anymore.
in my last month of employment there before the pandemic got bad I did tell people to shop other places as long as I was in the store alone and my SL wasn’t around
You're missing the point. That's what they're promoting, but what the ACTUAL remit is is the same old trick. They KNOW which stores are going to go kaput, as they have the figures NOW. They're simply pitting stores against each other to compete, so that they can get as much revenue as poss. Consider this - if they instead said this honestly, what do you think would happen? If they told the stores that are going to be closed or were on the line, what do you think would happen? Staff wouldn't be motivated and would likely leave ASAP. So it's a lie.
Yeah they're doing it on purpose to set people up. Then when stores dont meet the new "goals" they will close them and use that as an excuse to kill the store and fire everyone and "save money".
@@crunchyfrog555 Yep. They're going to squeeze every last ounce of blood and effort they can out of their employees before giving them the boot. They have nothing to lose by doing so, and will face no consequences. They are demoralizing those hard working people all in the name of scraping a few more dollars out of them. Get out while you can folks, preferably before those final paychecks start to bounce. I've been there with a former employer, and believe me, those final checks will bounce, or they won't be written at all. And once they declare bankruptcy and there is no money, you will become just another creditor on their long list of creditors, who will receive either zip, or pennies on the dollar. Then, you can sue them all you want, but if the money isn't there, who is going to pay you when you win in court? That's the whole purpose of bankruptcy; all their debt (including what they owe you) gets written off.
Plot twist: his corporate contact is the CEO and they are just making all these absolutely horrible decisions so it can eventually be a movie, and the CEO is contacting Cam so it can all be documented for the movie
I was a manager at Game Stop years ago, I was getting paid $26,000 a year at a $1.5 million store , I worked anywhere from 50 to 70 hrs a week. It was the worst job I ever had.
I've been following your videos for a Lil while and now I just subscribed. Its bc of your info after ghost of tsushima came out. I completely canceled all of my pre-orders. The rep looked hurt when I asked for my money back.
Brilliant idea take your best sales people and fire them so only the bad sales people will be working at the stores. Trying to increase sales with most of the people that would buy games are still unemployed.
The problem is they have no money. Even if you could convince a judge or a federal entity to issue damages or fine them for their conduct, they would go full Chapter 7. Liquidate everything, and leave the employees with nothing. The executives? Oh they keep their golden parachutes as well as absolving all liability because of the American Corporate Shield. But in this situation, the investors are fucked, and remember the investors are the owners of the company. Basically what the executives are doing is trying to survive for the investors (read, their bosses) till the next console cycle. Said cycle will involve a 'boom' they hope of pre-orders for new consoles and associated games, ect. Said boom will provide a cash infusion to the business that is their ONLY hope right now to keep things going. This cash infusion will allow them to file Chapter 11 and restructure as a smaller company but now hopefully profitable. Now.. basically pre-orders are a form of unsecured debt to a company, effectively you pay now to get it later, but there is no collateral attached. Because its unsecured debt, it goes LAST in Chapter 11. Moreover, unsecured debt goes in order of who they owe the the most debt to, individually. So all those console orders (and any other pre-order) will be basically moot. Most likely they will be able to write off all said debt and start over. There might be a class action from the customers as part of the Chapter 11 process but even if the judge allows that extraordinary event to go through, it will still be a very long, very complicated process that will end up with the class of customers still not getting the console they ordered. WHAT THIS MEANS: If you order little Timmy's console from Gamestop and and they file for Chapter 11 before delivery there is a HIGH likelihood he will never get it. At best you would get back a few cents on the dollar of the money you pre-ordered with. FYI, this would also apply to any of the 'cancelled' pre-orders from the already closed stores as well, soon as Chapter 11 is over, all those unsecured debts are wiped off the slate clean as if they never happened. This is what they are trying to do and really the only way I see them raising the capital they need. After this they will probably close the vast majority of their stores. Restructure internally again to a MUCH smaller company and then spend a lot of money trying to rebuild their image both internally and externally. Entirely possible they go for an completely new business model here as well, just they wont have the cash to do that if they don't go through with this scheme. As Camelot said, CANCEL YOUR PRE-ORDERS.
@@Bassotronics What money he owes? The C-suite, CEO, or board of directors has no personal liability to the company's debts. They are, for all intents and purposes, separate from the company that is its own legal entity. I do not see any rational self interest in just giving money back to the company. After all the company pays them, just like every employee, for their labor. Just they get paid a lot more. The board of directors (who are appointed by the shareholders... read: the owners of the company) are his boss, and they haven't fired him so apparently they think he is doing a good job given the circumstances. The corporation, for all intents and purposes, is a separate legal entity with its own wealth and resources outside that of the people that run it. So while it may feel good to point the finger at the CEO, reality is... he has done nothing civilly or criminally wrong. We could argue it maybe should be, or that we should be able to pierce the corporate veil easier... but think of it this way. The same protections that protect the C-suite a Gamestop corporate are the exact same protections that protect every single small business owner under a LLC. Basically, preventing personal liability for liabilities of the business itself. Publicly traded companies are just a lot bigger than your small business, but the effect is the same.
@ *Mike Hoon* I understand everything you said but let’s say for example I make a company. I shoot a whole bunch of people and kill them and then say that I am not liable personally for it but the company is? That is true Horse shit.
@@Bassotronics Great thoughts! But fortunately for all of us that isn't the case. Specifically I was referring to debts (as in money owed) not criminal liability. In my example I was more referring to money not criminal conduct ex... The idea that if the business goes bust... Then debtors can't come after your personal assets. In criminal cases though... Think of it this way. Who is doing the acting? In your example you would be killing someone regardless who or what you did that for, its still criminally illegal and murder. So you personally will be prosecuted, if it can be proven the company ordered you to do it then that could bring both criminal and personal prosecution of people in the company and the company themselves. The point being, in order to peirce the corporate shield, you personally have to do something very illegal. Not the company doing something, usually if the company does something illegal... Depending on the severity... They may be able to go after someone individually for it, but it's a hard bar to pass. Usually only upper executives can easily be charged with crimes but there are exceptions. Regardless though. In the game stop example. The CEO personally has done nothing illegal that I can see. Completely and morally wrong... But nothing illegal.
@@toastymuffin4153 If Gamestop broke into my house with that goal there would be nothing too steal because i haven't purchased a physical copy of a game for years.
Wow. I'm glad i left back in 2019. My experience back then... let's just say it was a very dark period for me. Yes, it had some positives, but mostly negative. I still have like 30,000 points to use...
What's the value on that, like, $3.00? Pardon the levity in my ignorance, I'm new around here and I haven't liked GameStop since the days of the Wii when I got offered a few dollars for a stack of games. I still shop there occasionally because I live in a small city where competition doesn't exist, but anyway I'm rambling now. Forgive me.
That combined with the fact that he's shocked about the reaction of upper management to poor sales makes me not ever want to watch another one of his videos. Can I get my 5 minutes back?
I was curious about the cost of a private island myself, so I looked it up. Obviously the price varies depending on the size and location, but it seems the cheapest would be a relatively small one around Nova Scotia for just under $30,000.
Dude for HR to be coming out to your store, especially in the midst of a pandemic...just clean out your desk at that point (figuratively), the writing is on the wall.
This is the main reason why shop at my local Mom & Pops game store because they don’t rub garbage down your face. You basically walk in, pay 60 bucks for your new game take your game & leave.
Gamestop is falling down right now, They even terminated 50-70% of their agents which are answering phone calls from different sites and the only main reason they had provided to us, is that GameStop's call rates drop by 50% or should I say GameStop received lesser calls right now which is we all know that they are just hiding the fact about getting bankrupt.
Plot twist...the one leaking this info to Camelot is actually the owner; laughing that he can get away with everything while everyone watches. - JK/Doubt it. But it's sad because what even would be the difference if it was true? =\
My old store prestiged about six months after I resigned last year (I was an SGA). My SL and I are still friends on social media, and what do I here from the grapevine in May of this year? "This location is closing permanently at the end of June."
@@jimthar17 He briefly mentioned it in the video. Prestige is a title awarded to GameStop stores with "premiere customer service". They're also held to a generally higher standard than other stores in regards to sales goals and customer complaints.
“I’m dead inside”... ah, remember the exact moment when I had this epiphany. It was right after cleaning up after an angry guest threw their roach infested XB on the floor and knocked over the massive and unneeded gift card spinner. My store closed in Jan and looking back, I miss nothing. I loved gaming when I started, a month or so in, that had been beaten out of me with customer comments on an employee with tits being behind the counter.
My gamestop legit said I had no preorders, So I went to a different gamestop where I preordered the genesis classic and asked to cancel it, The person behind the counter was on the up and up and printed a receipt of all of my preorders, I had hundreds in preorders, mainly from the store that said that I had no preorders, they still have my black ops 4 collectors edition preorder money, they somehow wiped that completely out of their system. That woman that was on the up and up no longer works at gamestop. Chances are your preorders have "never existed"
@@garystinten9339well with preorders they normally don't charge your credit card until you receive the merchandise. If you see a game stop entry on your credit card you have 30 days to dispute the charge.
@Jacob Drake There is no way a store can just make your preorders disappear, the app shows every preorder you’ve ever had/have. If one store shows them in their system, all stores show them.
I am enjoying watching this company go up in flames. Keep there good footage rolling. Everything said in this video is what I said in 2010 when I figured out how "the circle of life" really worked. Meaning your longevity working for the company
Coronavirus happens Gamestop higher ups think: We are going to have a lot of people come to the store during this and buy games. Parents think: Let's buy the kids some games online to keep the kids busy.
If they had let people come into the store to browse, they might have had some success, but it was a few weeks that I had to wait to go into my local gs when I wanted to walk around.
Wow 13$ as a store leader. Thats slave wages in the usa. Im an emergency department TECHNICIAN and make up $24.76 an hour. I feel bad for people not making a living wage. Poor people
I know what you mean. I was an inventory supervisor at Walmart for like 12 years and when I left I was only making $15 an hour. I'm a contractor now with my own handyman business and I have days where I can easily make over $500 profit doing simple repairs and/or small renovations.
It's a purposeful move. They set the goals too high, employees "fail the test," and get fired for that made up reason. Being able to blame the employee is always on the priority list with terminations on the horizon. Did they fail as a company? Noooooo, employees X-Y-Z just couldn't make the numbers!
The goals are a smokescreen. The execs will have already decided which stores are being kept based on past performance metrics. This is just a way to keep employees from quitting en mass
What do you mean "when"? This is already how it is. They expect every store in an area to do the same numbers. This isnt even logical. But pretty much every corp entity operates this way, and yet, the first thing they cut are the very people that are supposed to be the face of the company or are treated so poorly, their turnover rate is out of control.
So glad someone like you takes on these corporations that treat employees like crap and only care about profits. Plus customer service always ends up killing businesses in the end. I have stopped shopping at gamestop years ago. Used to go there at least once a week. Much like shitmart where I havent shopped at for long time now when they decided to make you become the cashier.
I work at Sodexo and I can tell you they refuse to give anyone a raise. Only corporate and managers will get a raise. They don't care about the associates, it's all about money.
Sell what to who? All the predatory market practices have turned the brand toxic, the used inventory isn't in high demand, merchants can get new stock straight from a distributor, the stores are rented, and their business model is 10+ years out of date.
"Only stores that meet the goals will stay open": false. I have been on the other side of this situation several times, in the call center sector. This isn't a movie, and execs don't make decisions by coin toss or competitions. They know which stores are profitable and which are not. The stores to be closed will have already been decided way in advance of telling the general workforce. This "competition" is the execs attempting to burn out the emoloyees before they are terminated to squeeze the last blood from the stone. My suggestion? The stores that are being kept will have already been told they are being kept. Everyone else is going bye bye. In the meantime, take care of yourself first. Avoid burn out, do the bare minimum if that is what it takes. And job hunt while on any down time, on or off the clock. And *start now*. Good luck.
@@charles616 the policies their employees are expected to follow are absolutely harassment. I used to feel bad for them because they know what they are doing alienates the customer and they're only doing it out of fear of losing their jobs -- which is disgraceful. So, I don't go in anymore because I can't buy a game without a full court press of things I have zero interest in (have sometimes even gotten an attitude when I politely decline). Willing to bet I'm not the only person who feels this way.
@@jamescarey2912 There job is to sell things. I fail to see how that is "harassment", especially when the buyer can just say no. One "no" is all it takes.
@@charles616 well...some people dont want that level of help. So, to them it is harassment. I kinda understand...but at the same time, being mad about them doing their job is a bit unfair.
I have it on good authority that the CEO of Gamestop fucking loves Camelot331. He likes to point and laugh at all the stuff he gets wrong. This allows him to play down the stuff he got right.
HR is Human Resources and they don’t investigate stores- they handle processing employees info, payroll etc. That would be top management that would do the investigation.
This reminds me of when Blockbuster Video was dying and started thrashing around , gasping for life...pull the plug already...they are just delaying the inevitable. Digital gaming and downloads are the future.
Im so happy this was going down before Corona was anything but a beer. Proof they're just corporate trash and you were only giving everyone a heads up. Thank God I haven't given them my $$ in years. Stay up brother!
Business 101. Pressure the customers to where they don't return and demand increased performance of the stores. This is like a grocery store raising prices by 60% and expecting higher income as a result.
i worked at guitar center for 2.8 years. i believe they will be the next store that goes out of business. alot of what you say about game stop, reminds me of guitar center. big time.
well one way to help Gamestop out is that things you buy online at other various retailers that are huge, see if Gamestop has the same item. Buy it there at the store where you are.
There are 4 Gamestops near me all within a ten minute drive of each other. Why and how all 4 have stayed open, I have no idea. There are 2 in a very busy mall, and 2 in outlets. One of them I used to work at as a store leader until I took them to court after wrongful termination from the company.
Honestly I work at a grocery store and alot of stuff around my job doesn't work properly or is broken and our managers don't care only care about their bonuses
You're corporate contact is a real champion. I remember working in lower management and getting tons of paperwork signed as "confidential" that I can imagine the potential legal consequences of someone on a corporate level. They get caught they could risk getting sued something bad. So more power to them that they're willing to take those chances.
I went in game stop today looking for action figures. They were still trying to hire people because only 1 person works there that I've ever seen. I told her what action figures I wanted. She said they weren't out yet but I could preorder them. Told her no thanks. Then proceeds to nearly beg me to preorder them to the point she said that if I DIDN'T that they will all be sold out and can't get them anywhere else. Even though they sell them everywhere online.
I've been getting a bunch of promo emails from GameStop. I haven't received emails from them for months and lately I've been receiving 3-4 emails a week. They're probably doing damage control by letting old customers know they have "sales"
This is what happened to me where I worked the project went over budget so they fired all of the new people for not meeting quotas they claimed did not exist and after saying they would help anyone falling behind I was still new and had not received proper training on top of my equipment being non functional the majority of the time
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
Who would have thought treating your employees and customers like 💩 isn't a good business strategy?
i've always hated how I was treated as a customer so I never went in. Getting harrassed doesn't feel fun.
seems great for attention though
Well it always worked for Block Buster, oh wait no it didnt.
@@starchild1314 best comment ever
Plenty of thriving companies treat their employees or customers like shit. This isn't what killed Gamestop. They're dying because they didn't keep up with the times. Basically, they're going the way of Blockbuster, rather than evolving to stay relevant like Netflix did.
can you imagine being an executive at GS and everything said in the meeting is relayed to some random dude on the internet for thousands of people to see...they must hate their life lol
CEO fires everybody, can't trust no one, stupid info leakers XD
Stuff like this happens when a company treats their employees like garbage.
Yeah, that's what happens when your employees literally hate you.
I fucking love all this leaked shit! More please!
Thanos: “I used the stores to destroy the stores.”
🤣
We had to destroy the village to save it...Vietnam
Wehr Wolf 😂😂😂
@@nickmoreno3885 👍
WTF😆😂🤣😁
Imagine being a Store Leader who makes $15/hour... then getting fired for being “overpaid.” LOL.
Minimum for SL is 16. He hasn’t work for the company in over 2 years his info is irrelevant.
@@thecourts1902 Is that company wide or across geographical locations ?
15, 16, 20.. it doesn't matter. It's crazy to me that they can pay those level of positions shit and still complain about them being overpaid. Sounds like a shit company that cares nothing for the people actually putting the work in...
People making hundreds of thousands of dollars complaining about people on minimum wage being overpaid is goddamn ridiculous. That's the problem with the world today. Everything is fucking backwards.
@@thecourts1902 Shut up, Egg
Gamestop lived long enough to see itself become the villain. We need more mom & pop stores that sell games and appreciate the game world.
I'd be down with that. But good luck affording purchasing and sales rights to AAA titles. They are aboit as greedy as any other corp entity. (Looking at you EA)
Mom and pop stores bring mom and pop prices and selection. To make a profit used game prices would be high. Third party accessories would be expensive. If they did a trade service the prices given would be low. You would have some people out there supporting them but the majority are going to just hit the internet.
Mom and pop stores were plentiful under real capitalism. Under corporatism like now very slim they can't survive. After pandemic with all the businesses going under it will be a corporatocracy.
We need more Hudson video games too ngl
I mean honestly I think game stores are pretty much obsolete. Everything is online now. Why would I wait in a line that’s stretching around the block for 4 hours when I can literally just download it to my console from home while having a beer and I’m playing it in an hour. All the controllers and accessories can be bought on amazon for a fraction of the price and it’s at your front door the next day, sometimes even a few hours after you hit the order button. Hell, you can even order from a retailer and have an Uber deliver it to you in 30 mins. Game stores just seem like a thing of the past now
The GameStop call is like Animal House. They're on double secret probation
Well, there's only one thing left to do. Have a toga party! TOGA! TOGA!
Brian Ashton TOGA! TOGA!
ZERO POINT ZERO....
Due to pc culture there will be no toga party. The lefties would call it a kkk rally and send antifa.
@@mikeries8549 Why do you hurt us with the truth?
Who would want to work at GameStop? It sounds awful there. Seems extremely stressful
Trash Humans
Yeah you’re better off working at Walmart or target at that point. At least they’re there’s space!
This all day
I am under the impression that gamestop leadership no longer believes in the gamestop business model and are just trying to bleed gamestop financially for as long as possible. None of their decisions will induce morale moving up for their employees. They maneuver like they're on a sinking ship and they know it and just want to ride it out. Smh
Of course not, this is a company run by people who don't give a shit about games and only want the money they offer. If the people in charge actually gave a shit it wouldn't be this bad.
It looks like their strategy is to set goals so astronomically high that they can fire or force out employees so they can close stores and have an excuse.
@@originalscreenname44 correct and it is a discreet liquidation without announcing it. Getting rid of costs while pocketing the excess.
They should just close all the stores.
@@roflBeck They get more money milking it. Taking pre-order money and any little revenue from the remaining loyal customers. From a business standpoint I get it. Aint saying its right cause its cut throat but I understand it. Leadership doesnt believe in the gamestop brand anymore.
This is crazy, they are going down. I know GameStop hates you, but hey thanks for all the updates. The famelot is herr for ya no matter what
So we're going to end up with one remaining gamestop in the same town that has the one remaining Blockbuster store.
interesting to see.
Trip out to Bend, Or
🎯
If I was a GS employee I would just tell everyone to go somewhere else.
Nah I would tell them not to care at all and take that paycheck
They pretty much do. Some employees are great with customer service but others are well you know...
in my last month of employment there before the pandemic got bad I did tell people to shop other places as long as I was in the store alone and my SL wasn’t around
That's what I did when I worked there. I would always warn customers and suggest better stores to go to.
CEO : "We aren't hitting goals... what can we do to save this fiasco?"
Genius : "Increase the goals!"
CEO : "BRILLIANT!"
You're missing the point. That's what they're promoting, but what the ACTUAL remit is is the same old trick. They KNOW which stores are going to go kaput, as they have the figures NOW. They're simply pitting stores against each other to compete, so that they can get as much revenue as poss.
Consider this - if they instead said this honestly, what do you think would happen? If they told the stores that are going to be closed or were on the line, what do you think would happen? Staff wouldn't be motivated and would likely leave ASAP.
So it's a lie.
Yeah they're doing it on purpose to set people up. Then when stores dont meet the new "goals" they will close them and use that as an excuse to kill the store and fire everyone and "save money".
@@crunchyfrog555 Yep. They're going to squeeze every last ounce of blood and effort they can out of their employees before giving them the boot. They have nothing to lose by doing so, and will face no consequences. They are demoralizing those hard working people all in the name of scraping a few more dollars out of them. Get out while you can folks, preferably before those final paychecks start to bounce. I've been there with a former employer, and believe me, those final checks will bounce, or they won't be written at all. And once they declare bankruptcy and there is no money, you will become just another creditor on their long list of creditors, who will receive either zip, or pennies on the dollar. Then, you can sue them all you want, but if the money isn't there, who is going to pay you when you win in court? That's the whole purpose of bankruptcy; all their debt (including what they owe you) gets written off.
Don’t forget to cancel those preorders
Pre-ordering OMEGALUL
They just shipped one of mine today. 👍
0:16 what got me into your channel. That tone. That voice as the audio. You sir, should be on the radio podcast
Plot twist: his corporate contact is the CEO and they are just making all these absolutely horrible decisions so it can eventually be a movie, and the CEO is contacting Cam so it can all be documented for the movie
I was a manager at Game Stop years ago, I was getting paid $26,000 a year at a $1.5 million store , I worked anywhere from 50 to 70 hrs a week. It was the worst job I ever had.
I think an in n out burger flipper makes more than that.
@@j.dviant I made more than that as a Family Dollar associate 12 years ago
Sounds like you were an idiot to work 70 hours for 26k a year 🤷♂️
Damn why the heck did you stay their? I would have been left
You did not get overtime?
Take a shot every time Camelot says "shocking".
Love it lol
I’m now dead
Take 2 with a lemon if he says it intensely. 🤣
or exaggerates his accent
Do you have a stake in the liver transplant industry or something?
I've been following your videos for a Lil while and now I just subscribed. Its bc of your info after ghost of tsushima came out. I completely canceled all of my pre-orders. The rep looked hurt when I asked for my money back.
If you really want "Legacy Delete" to have any impact, you have to start at the top.
Brilliant idea take your best sales people and fire them so only the bad sales people will be working at the stores. Trying to increase sales with most of the people that would buy games are still unemployed.
well duh
@@drmayeda1930 I meant starting with the Executive team. Take someone making 10 mil a year down to like 450k.
*Timecard fraud intensifies*
GameStop should be fined all the millions they got to pay all the people back for stealing.
The problem is they have no money. Even if you could convince a judge or a federal entity to issue damages or fine them for their conduct, they would go full Chapter 7. Liquidate everything, and leave the employees with nothing. The executives? Oh they keep their golden parachutes as well as absolving all liability because of the American Corporate Shield. But in this situation, the investors are fucked, and remember the investors are the owners of the company.
Basically what the executives are doing is trying to survive for the investors (read, their bosses) till the next console cycle. Said cycle will involve a 'boom' they hope of pre-orders for new consoles and associated games, ect. Said boom will provide a cash infusion to the business that is their ONLY hope right now to keep things going. This cash infusion will allow them to file Chapter 11 and restructure as a smaller company but now hopefully profitable. Now.. basically pre-orders are a form of unsecured debt to a company, effectively you pay now to get it later, but there is no collateral attached.
Because its unsecured debt, it goes LAST in Chapter 11. Moreover, unsecured debt goes in order of who they owe the the most debt to, individually. So all those console orders (and any other pre-order) will be basically moot. Most likely they will be able to write off all said debt and start over. There might be a class action from the customers as part of the Chapter 11 process but even if the judge allows that extraordinary event to go through, it will still be a very long, very complicated process that will end up with the class of customers still not getting the console they ordered.
WHAT THIS MEANS: If you order little Timmy's console from Gamestop and and they file for Chapter 11 before delivery there is a HIGH likelihood he will never get it. At best you would get back a few cents on the dollar of the money you pre-ordered with. FYI, this would also apply to any of the 'cancelled' pre-orders from the already closed stores as well, soon as Chapter 11 is over, all those unsecured debts are wiped off the slate clean as if they never happened.
This is what they are trying to do and really the only way I see them raising the capital they need. After this they will probably close the vast majority of their stores. Restructure internally again to a MUCH smaller company and then spend a lot of money trying to rebuild their image both internally and externally. Entirely possible they go for an completely new business model here as well, just they wont have the cash to do that if they don't go through with this scheme.
As Camelot said, CANCEL YOUR PRE-ORDERS.
@ *Mike Hoon*
Of course they have money. The CEO has a few billions. He can just sell all his Lamborghinis and pay back all the money he owes.
@@Bassotronics What money he owes?
The C-suite, CEO, or board of directors has no personal liability to the company's debts. They are, for all intents and purposes, separate from the company that is its own legal entity.
I do not see any rational self interest in just giving money back to the company. After all the company pays them, just like every employee, for their labor. Just they get paid a lot more. The board of directors (who are appointed by the shareholders... read: the owners of the company) are his boss, and they haven't fired him so apparently they think he is doing a good job given the circumstances.
The corporation, for all intents and purposes, is a separate legal entity with its own wealth and resources outside that of the people that run it. So while it may feel good to point the finger at the CEO, reality is... he has done nothing civilly or criminally wrong.
We could argue it maybe should be, or that we should be able to pierce the corporate veil easier... but think of it this way.
The same protections that protect the C-suite a Gamestop corporate are the exact same protections that protect every single small business owner under a LLC. Basically, preventing personal liability for liabilities of the business itself.
Publicly traded companies are just a lot bigger than your small business, but the effect is the same.
@ *Mike Hoon*
I understand everything you said but let’s say for example I make a company. I shoot a whole bunch of people and kill them and then say that I am not liable personally for it but the company is? That is true Horse shit.
@@Bassotronics
Great thoughts! But fortunately for all of us that isn't the case. Specifically I was referring to debts (as in money owed) not criminal liability.
In my example I was more referring to money not criminal conduct ex... The idea that if the business goes bust... Then debtors can't come after your personal assets.
In criminal cases though... Think of it this way. Who is doing the acting? In your example you would be killing someone regardless who or what you did that for, its still criminally illegal and murder. So you personally will be prosecuted, if it can be proven the company ordered you to do it then that could bring both criminal and personal prosecution of people in the company and the company themselves.
The point being, in order to peirce the corporate shield, you personally have to do something very illegal. Not the company doing something, usually if the company does something illegal... Depending on the severity... They may be able to go after someone individually for it, but it's a hard bar to pass. Usually only upper executives can easily be charged with crimes but there are exceptions.
Regardless though. In the game stop example. The CEO personally has done nothing illegal that I can see. Completely and morally wrong... But nothing illegal.
Dude. You're an EFFIN' LEGEND! Keep up the crusade, brother. You're doing really good things here on the YT.
CAMELOT331 OMG you guys, Gamestop is going to kill me
Also CAMELOT331: OMG you guys listen to all these secrets
Keep on it XD
Future C331: GAMESTOP THROWS HORSE HEAD THROUGH MY WINDOW!! (Not clickbait!)
@@viscountrainbows6452 CAMELOT331: Gamestop broke into my house, stole all my games and left me $5.36 in trade in value!
@@toastymuffin4153 If Gamestop broke into my house with that goal there would be nothing too steal because i haven't purchased a physical copy of a game for years.
@@Mrnoob951 they will just steal your console then
It's literal Gamestop Hunger Games
Sounds like that store count is dropping like RadioShack’s store count did before they filed for bankruptcy.
I wonder how much money Gamestop got from PPP loans in one last cash grab.
Watching this while parked in front of a GameStop 😂
Take it inside and play it for the hourly associates.
@@Indy721 that was my thought
Fishing for likes and totally lying.
charles616 yeah fishing for likes. Get a life bub.
@@That0neZombie Keep fishing, bub. Commenting while parked in front of a Gamestop...
So basically everyone in NYC will lose their jobs since minimum wage is $15 an hour!
Wow. I'm glad i left back in 2019. My experience back then... let's just say it was a very dark period for me. Yes, it had some positives, but mostly negative. I still have like 30,000 points to use...
Better use 'em before they trash 'em.
What's the value on that, like, $3.00? Pardon the levity in my ignorance, I'm new around here and I haven't liked GameStop since the days of the Wii when I got offered a few dollars for a stack of games.
I still shop there occasionally because I live in a small city where competition doesn't exist, but anyway I'm rambling now. Forgive me.
GameStop should have become the location for gaming tournaments. I bet it would be doing MUCH better.
At this point, I'm surprised Gamestop isn't just trying to harvest it's employee's and customer's organs to sell on the black market.
Your comment needs so many more, likes. I laughed so hard.
Don't give them any ideas!
Lmao I know right! It’s the only way for them to stay afloat at this point.
Yes, because they are going to commit murder. Get some fresh air.
@@charles616 dude, it's a joke. Relax man.
I heard a mention of 1500 stores. There’s only about 50 states in United States. So that means they have some stores also on planet Jupiter?
Uh...is this a serious question? We have 6 Gamestops in our city. What makes you think there is only one per state?
@ *Mr E Meat*
I never implied that there was only one per state but the fact that there’s so many Game Stops is astonishing.
@@Bassotronics oh. Ok. Sorry for the misunderstanding
On the bright side, maybe “Egg” will finally get fired.
🤣
Doubt it
They'll probably make him the next CEO
he was fired. hes at tj max now
Although Gamestop is a part of my childhood, I'd like to see them come to an end sooner than later for being such POS's.
Someone needs start a "shocking" counter on his videos lol he says it like crazy
If you did a shot every time he says "shocking" -- First three minutes is enough to get drunk! 😂🍻.
💥SHOCKING💥
He needs to make a t-shirt. 👀
Literally as I read this, he said it again
or the laugh. the laugh gets me.
That combined with the fact that he's shocked about the reaction of upper management to poor sales makes me not ever want to watch another one of his videos. Can I get my 5 minutes back?
Yeah....as a former employee, pretty much ANYTIME HR comes to a store, someone is getting fired.
I was curious about the cost of a private island myself, so I looked it up. Obviously the price varies depending on the size and location, but it seems the cheapest would be a relatively small one around Nova Scotia for just under $30,000.
Nice, just gotta get that solar array and a cistern for water storage to get off the grid if needed.
Thanks for the video. 300-600 stores. I hate gamestop, but you've earned my sub with your solid reporting.
Dude for HR to be coming out to your store, especially in the midst of a pandemic...just clean out your desk at that point (figuratively), the writing is on the wall.
Working for corporate is the worst decision you can ever make! I worked for a corporate company years ago, I haven’t since, nor will I ever again!
No offense, but from your profile picture you don't look like the corporate type lol
Demolition Dude my hair has only been long for six years. I’m 44 and am a completely different person than I was 15-20 years ago.
If every store employee went sick for a week at the exact time that would hurt gamester so bad. And they just can't sack them all
They have line ups of people wanting to work there.
@@WillyWooly the fact people still wanna work there, is the real twist in this shitty movie.
@@WillyWooly
Who's going to train them?
drmayeda1 No one is trained. When you are hired, instead of training, you get your targets you need to achieve.
This is the main reason why shop at my local Mom & Pops game store because they don’t rub garbage down your face. You basically walk in, pay 60 bucks for your new game take your game & leave.
I'm sure Gamestop's CEO would be happy to take you on a boat ride! Out into international waters! One way!
But you get a new custom fit shoes from the trip.
@@Mac_Omegaly They're bit heavy and wet, but they sure do turn out pretty solid.
Gamestop is falling down right now, They even terminated 50-70% of their agents which are answering phone calls from different sites and the only main reason they had provided to us, is that GameStop's call rates drop by 50% or should I say GameStop received lesser calls right now which is we all know that they are just hiding the fact about getting bankrupt.
Plot twist...the one leaking this info to Camelot is actually the owner; laughing that he can get away with everything while everyone watches.
- JK/Doubt it. But it's sad because what even would be the difference if it was true? =\
It's Reggie Fils-Aimé.
If the CEO is the leaker, does that mean he’s going to take Camelot out for a ride on one of his yachts when all this is over?
It’s a she
DJTEKTORO it’s reggie fils-aimé
@12:30
This GENIUS is telling people to quit their jobs during a pandemic, which has moved unemployment rates to historic levels.
My old store prestiged about six months after I resigned last year (I was an SGA). My SL and I are still friends on social media, and what do I here from the grapevine in May of this year? "This location is closing permanently at the end of June."
What does that mean? Prestiged?
@@jimthar17 He briefly mentioned it in the video. Prestige is a title awarded to GameStop stores with "premiere customer service". They're also held to a generally higher standard than other stores in regards to sales goals and customer complaints.
“I’m dead inside”... ah, remember the exact moment when I had this epiphany. It was right after cleaning up after an angry guest threw their roach infested XB on the floor and knocked over the massive and unneeded gift card spinner. My store closed in Jan and looking back, I miss nothing. I loved gaming when I started, a month or so in, that had been beaten out of me with customer comments on an employee with tits being behind the counter.
most likely Gamestop will be filling for Ch. 11. If anyone has stock or preorders sell stock and get refund on pre-orders
My gamestop legit said I had no preorders, So I went to a different gamestop where I preordered the genesis classic and asked to cancel it, The person behind the counter was on the up and up and printed a receipt of all of my preorders, I had hundreds in preorders, mainly from the store that said that I had no preorders, they still have my black ops 4 collectors edition preorder money, they somehow wiped that completely out of their system. That woman that was on the up and up no longer works at gamestop. Chances are your preorders have "never existed"
@@dankhill6851 that's called robbing you blind.. did you pay by credit card/debit card? Or cash?
@@garystinten9339well with preorders they normally don't charge your credit card until you receive the merchandise. If you see a game stop entry on your credit card you have 30 days to dispute the charge.
@Jacob Drake There is no way a store can just make your preorders disappear, the app shows every preorder you’ve ever had/have. If one store shows them in their system, all stores show them.
I am enjoying watching this company go up in flames. Keep there good footage rolling. Everything said in this video is what I said in 2010 when I figured out how "the circle of life" really worked. Meaning your longevity working for the company
Coronavirus happens
Gamestop higher ups think:
We are going to have a lot of people come to the store during this and buy games.
Parents think:
Let's buy the kids some games online to keep the kids busy.
If they had let people come into the store to browse, they might have had some success, but it was a few weeks that I had to wait to go into my local gs when I wanted to walk around.
Wow 13$ as a store leader. Thats slave wages in the usa. Im an emergency department TECHNICIAN and make up $24.76 an hour. I feel bad for people not making a living wage. Poor people
I know what you mean. I was an inventory supervisor at Walmart for like 12 years and when I left I was only making $15 an hour. I'm a contractor now with my own handyman business and I have days where I can easily make over $500 profit doing simple repairs and/or small renovations.
“I’m dead inside”, same as hell 💜
If I were a store manager at Gamestop, many consoles will just seem to disappear before they fire me.
What happens when they set the goals higher than what the foot traffic makes even possible?
Everyone is fired. You get a pink slip! They get a pink slip! Everyone gets a pink slip!
It's a purposeful move. They set the goals too high, employees "fail the test," and get fired for that made up reason. Being able to blame the employee is always on the priority list with terminations on the horizon. Did they fail as a company? Noooooo, employees X-Y-Z just couldn't make the numbers!
The goals are a smokescreen. The execs will have already decided which stores are being kept based on past performance metrics.
This is just a way to keep employees from quitting en mass
@@karenpojar2514 In addition to "work them as hard as possible before firing to consolidate losses" as a mentality.
What do you mean "when"? This is already how it is. They expect every store in an area to do the same numbers. This isnt even logical. But pretty much every corp entity operates this way, and yet, the first thing they cut are the very people that are supposed to be the face of the company or are treated so poorly, their turnover rate is out of control.
So glad someone like you takes on these corporations that treat employees like crap and only care about profits. Plus customer service always ends up killing businesses in the end. I have stopped shopping at gamestop years ago. Used to go there at least once a week. Much like shitmart where I havent shopped at for long time now when they decided to make you become the cashier.
next time: gamestop plans to save money by having high-performing employees eat the low-performing employees to save on food costs
how bout this one: gamestop asks employees for their personal games to sell to save their paycheck
They're going to tell them to spend their entire paycheck at the store or else they'll be forced to get paid in store credit
If the police ever ask you for a list of enemies it would be 10 days before they finish reading it
Why would the police do that?
This was coming to GameStop
EXPECTED
2Coop 4U wdym
I work at Sodexo and I can tell you they refuse to give anyone a raise. Only corporate and managers will get a raise. They don't care about the associates, it's all about money.
Why dont they just sell all their items and close out rich?? Does it have something to do with investors?
Lol
Sell what to who? All the predatory market practices have turned the brand toxic, the used inventory isn't in high demand, merchants can get new stock straight from a distributor, the stores are rented, and their business model is 10+ years out of date.
Open a. eBay store and sell off there.
Yeah... no matter where you go if a company isn't family owned, that company will not care about their employees.
"Only stores that meet the goals will stay open": false.
I have been on the other side of this situation several times, in the call center sector. This isn't a movie, and execs don't make decisions by coin toss or competitions. They know which stores are profitable and which are not. The stores to be closed will have already been decided way in advance of telling the general workforce. This "competition" is the execs attempting to burn out the emoloyees before they are terminated to squeeze the last blood from the stone.
My suggestion? The stores that are being kept will have already been told they are being kept. Everyone else is going bye bye. In the meantime, take care of yourself first. Avoid burn out, do the bare minimum if that is what it takes. And job hunt while on any down time, on or off the clock. And *start now*.
Good luck.
With all the harassment you get when you walk into a store, I'm surprised anyone still shops there. Too many other options.
Employees are fear driven to do this or lose their job.
Employees trying to do their job is harassment?
@@charles616 the policies their employees are expected to follow are absolutely harassment. I used to feel bad for them because they know what they are doing alienates the customer and they're only doing it out of fear of losing their jobs -- which is disgraceful. So, I don't go in anymore because I can't buy a game without a full court press of things I have zero interest in (have sometimes even gotten an attitude when I politely decline). Willing to bet I'm not the only person who feels this way.
@@jamescarey2912 There job is to sell things. I fail to see how that is "harassment", especially when the buyer can just say no. One "no" is all it takes.
@@charles616 well...some people dont want that level of help. So, to them it is harassment. I kinda understand...but at the same time, being mad about them doing their job is a bit unfair.
So many leaks flex tape gave them the finger
"now that's a lot of damage."
I have it on good authority that the CEO of Gamestop fucking loves Camelot331. He likes to point and laugh at all the stuff he gets wrong. This allows him to play down the stuff he got right.
I know that there is one island for sale right now for $500. But for some reason they can’t sell it
Instant click when I get a notification from my boy Camelot
the store that was near me is now a tobacco shop
Tobacco and video games? What a wonderful combination.
first!
Oh yeah! You drove a frickin Cup Car around your nieghborhood. 100 more Badass points.
I heard a manager at gamestop talk about this she didn't seem happy since its video call instead of traveling in person to a nice hotel.
HR is Human Resources and they don’t investigate stores- they handle processing employees info, payroll etc. That would be top management that would do the investigation.
This reminds me of when Blockbuster Video was dying and started thrashing around , gasping for life...pull the plug already...they are just delaying the inevitable. Digital gaming and downloads are the future.
Im so happy this was going down before Corona was anything but a beer. Proof they're just corporate trash and you were only giving everyone a heads up. Thank God I haven't given them my $$ in years. Stay up brother!
Business 101. Pressure the customers to where they don't return and demand increased performance of the stores. This is like a grocery store raising prices by 60% and expecting higher income as a result.
Corporate contact is the real MVP. Thanks for risking your biscuit boi
Love your vids man!! Keep it up
i worked at guitar center for 2.8 years. i believe they will be the next store that goes out of business. alot of what you say about game stop, reminds me of guitar center. big time.
Cam doing the Lord's work!
well one way to help Gamestop out is that things you buy online at other various retailers that are huge, see if Gamestop has the same item. Buy it there at the store where you are.
About time haven’t seen your videos in months 👍🏻
You speak the truth man of the reality of big business shocking.
If they want to save money fire the CEO that would save MILLIONS
Solution to financial crisis - 75% pay cuts for executives.
That's a great idea.
It looked like they was packing up a store in Oklahoma at 4am this morning. Out the backdoor into a 53 foot trailer.
*Flashes back to Blockbuster*
*PTSD Intensifies*
There are 4 Gamestops near me all within a ten minute drive of each other. Why and how all 4 have stayed open, I have no idea. There are 2 in a very busy mall, and 2 in outlets. One of them I used to work at as a store leader until I took them to court after wrongful termination from the company.
The store closest to me is having a closing sale. It’s definitely happening.
Honestly I work at a grocery store and alot of stuff around my job doesn't work properly or is broken and our managers don't care only care about their bonuses
I love watching corporations fail, but I always feel bad for the employees!
You're corporate contact is a real champion. I remember working in lower management and getting tons of paperwork signed as "confidential" that I can imagine the potential legal consequences of someone on a corporate level. They get caught they could risk getting sued something bad. So more power to them that they're willing to take those chances.
I went in game stop today looking for action figures. They were still trying to hire people because only 1 person works there that I've ever seen. I told her what action figures I wanted. She said they weren't out yet but I could preorder them. Told her no thanks. Then proceeds to nearly beg me to preorder them to the point she said that if I DIDN'T that they will all be sold out and can't get them anywhere else. Even though they sell them everywhere online.
I've been getting a bunch of promo emails from GameStop. I haven't received emails from them for months and lately I've been receiving 3-4 emails a week. They're probably doing damage control by letting old customers know they have "sales"
Woah you've never been out of your own state? Wild my man you need to go travel sometime you heavily deserve it!👌
Sick camera bud!
This is what happened to me where I worked the project went over budget so they fired all of the new people for not meeting quotas they claimed did not exist and after saying they would help anyone falling behind I was still new and had not received proper training on top of my equipment being non functional the majority of the time
It not a surprise that they would close down stores if they are losing businesses. You wouldn't run a business if you are losing business.
You're not even gonna have a mind after this 😂😂😂
They should all file a class action lawsuit against the company for conspiracy.
Wife loved the kitty you brought out at the end. Keep on it doggone it!!