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Encyclopedia > Fire sale

A fire sale is the sale of goods at extremely discounted prices, typically when the seller faces bankruptcy or other impending distress. The term may originally have been based on the sale of goods at a heavy discount due to fire damage. Sale is the name of several places: Sale, Victoria, Australia Sale, Greater Manchester, England Sale, Italy (pronunciation: SAH-leh) - in the province of Alessandria Salè, Morocco Sale Marasino (first pronunciation: SAH-leh), an Italian commune in the province of Brescia Sale is also a type of contract for the exchange... In finance, discounting is the process of finding the current value of an amount of cash at some future date, and along with compounding cash from the basis of time value of money calculations. ... Notice of closure stuck on the door of a computer store the day after its parent company, Granville Technology Group Ltd, declared bankruptcy (strictly, put into administration—see text) in the United Kingdom. ...

A fire sale may or may not be a closeout, the final sale of goods to zero inventory. Closeout as in closeout sale is the final sale in the case of the final closure of a retailer because of a relocation, a fire (fire sale) or, especially, because of a bankruptcy. ... Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business. ...

The sports term and attack method are derived from this term.



According to Dictionary.com, the term originated in 1890-95 in New Zealand. The fire at Whitcombe and Tombs in Dunedin resulted in a "Fire Sale." Dictionary. ... Whitcombe and Tombs was a book publisher, stationery manufacturer, and retail bookseller in New Zealand. ... Dunedin (ÅŒtepoti in Maori) is the second-largest city in the South Island of New Zealand, and the principal city of the region of Otago. ...

In popular culture

Arrested Development

Tobias Funke, a character from Arrested Development (TV series), auditioned for a commercial advertising an upcoming fire sale. However, Tobias did not realize that there was no actual fire involved in said sale. His audition piece consisted of a monologue by a character trapped in a fire and trying to evacuate school children before eventually being killed by the aforementioned fire. ... Wikipedia does not yet have an article with this exact name. ...

Live Free or Die Hard

Matt Farrell (Justin Long), a character in the movie Live Free or Die Hard, used this term to describe the plot by Thomas Gabriel (Timothy Olyphant) to systematically shut down the United States infrastructure. Justin Long as Matt Farrell Matt Farrell, played by Justin Long, is the sidekick of Lt. ... Justin Jake Long (born June 2, 1978) is an American actor, known for his performances in the films Jeepers Creepers, Waiting. ... Live Free or Die Hard (released as Die Hard 4. ... Thomas Gabriel is the main villain in Live Free or Die Hard. ... Timothy David Olyphant (born May 20, 1968) is an American actor. ...

The plan consists of three steps or parts to be implemented successfully:

  • Step 1 - Disable all traffic and transportation hubs/systems
  • Step 2 - Disrupt financial sectors and telecommunications
  • Step 3 - Disable (manually) water/electric/oil utilities, nuclear systems, and anything else tied into computers

The plan would cripple and or destroy the infrastructure of the United States. It gets the name from the term "everything must go", thus it is a fire sale.

See also

The (manufacturers) suggested retail price (MSRP or SRP), list price or recommended retail price (RRP) (originally, Monroney suggested retail price) of a product is the price the manufacturer recommends that the retailer sell it for. ...

  Results from FactBites:
Fire sale - Wikipedia, the free encyclopedia (1000 words)
Similarly, the Washington Capitals had a fire sale during the 2003-04 NHL season because their team was in the midst of what would become their worst season in 26 years.
The Oakland Athletics had a fire sale following the 1976 season, in which 6 star players who were major contributors to their 3 consecutive World Series victories from 1972 through 1974 left the team to sign contracts with other teams in the first year of free agency.
Prior to the fire sale at the end of the 1976 season, on June 15, 1976, Finley sold Joe Rudi and Rollie Fingers to the Boston Red Sox for $1 million apiece, and pitcher Vida Blue to the New York Yankees for $1.5 million.
  More results at FactBites »



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