Borders is kaput

Post #344,935 by jay 7/19/11 11:53:18 AM Reply	Borders is kaput http://www.ajc.com/b...l?cxtype=rss_news The nation's second largest traditional bookseller received no additional bids after a Sunday deadline passed and Monday asked a bankruptcy court for approval to liquidate. A Tuesday auction for bidders who wanted to keep Borders open for business has been canceled, according to the Wall Street Journal. All 399 stores will close soon, some as early as Friday, Borders said in a statement. Liquidation should be complete by September. The company, which employs about 11,000, had not turned a profit since 2006. No surprise really, they really missed the boat on the changing market in the past decade. The invested in the wrong directions and missed the internet entirely, then ran the company into the ground with the typical short sighted cost cutting that has killed so many other stores and chains. Jay
Post #344,937 by beepster 7/19/11 12:03:55 PM Reply	there has to be something very wrong there... as #3, Books a Million is still profitable..and apparently completely unwilling to buy bigger at pennies on the dollar. Just an opinion... Sure, understanding today's complex world of the future is a little like having bees live in your head. But...there they are.
Post #344,939 by Andrew Grygus 7/19/11 12:37:23 PM Reply	Meanwhile, Amazon is fighting fiercely to maintain . . . . . it's sales tax advantage. They will be spending plenty in California to enter and support a voter's initiative to keep them free of sales tax. Of course, a federal sales tax law would take care of the problem, but Congress has no intention whatever of creating one. It would be too useful. Congress avoids ever doing anything remotely useful.
Post #344,942 by beepster 7/19/11 1:25:40 PM Reply	Ain't that the truth! Sure, understanding today's complex world of the future is a little like having bees live in your head. But...there they are.

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