Blockbuster Inc. once dominated the movie rental business, building more than 6,000 retail locations over 22 years. As it was fending off Netflix, the flat-fee Internet-based DVD provider, Blockbuster probably never expected McDonald’s would also be handing it its lunch.
Redbox Automated Retail LLC, the movie kiosk provider funded by the fast-food giant, has surpassed Blockbuster in rental locations in just over five years — at a fraction of the overhead and cost. Redbox started with a dozen prototype video vending machines in 2002. The red, touch-screen boxes started showing up big in Colorado in 2005. Redbox now has more than 6,000 machines in 46 states, including 400 added in the past month. The kiosks charge less than $1 per night, and each machine carries more than 500 DVDs. Blockbuster, by contrast, said this summer that it would close 282 stores. Its share price has fallen from nearly $30 to under $4 during the years Redbox has come out of nowhere.
Most businesses plan to throw holiday parties, give gifts.
However memorable, or unmemorable, company holiday parties may be, they are becoming increasingly popular. A survey by American Express Co. found that 86 percent of businesses are planning an event this year.
A majority of companies — 92 percent — said they would also be giving year-end gifts, while only 64 percent of employees said they expect one.
Staff and wire reports
