The Next Five Days: Rust Belt Renaissance

However, I'm much more intrigued by the steady demise of Best Buy's competition. CompUSA is already out of business, and Circuit City (CC - commentary - Cramer's Take) appears to be falling into a vicious spiral.

Just last Sunday, I went to buy a DVD player at a nearby Circuit City on 14th St. in Manhattan -- and it was closed! No explanation. Just a bunch of frustrated customers milling about, peering into the dark store. Presumably, they took their business to a nearby Best Buy.

Paradoxically, a lousy economy in 2008 would be great for Best Buy because it would likely force Circuit City to accelerate its pace of store closings. When the economy rebounds, the oligopolistic consumer electronics retail sector might just have become a monopoly.

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David Sterman has been an equity analyst and financial journalist for 15 years, most recently serving as Director of Research at Jesup & Lamont Securities.