Thursday, September 2, 2010

The Fight for Barnes & Noble: Who Actually Wins?

baltimoresun.com: "Execs announced in August that they were exploring options that include putting the company up for sale. Meanwhile Burkle has been trying to increase his stake in the company, as the AP has reported. The battle is being fought on several fronts: the courts, Wall Street and press releases. And it ain't pretty. Burkle accuses B&N founder Leonard Riggio of poor management and self-dealing; Riggio raises the specter of a Gekko-like hostile takeover. ... The real winner[s] in all this? Amazon, Apple, Walmart and other companies trying to eat B&N's lunch. With B&N execs consumed by the takeover battle, how can they focus on the huge structural changes in the business, including the shift from paper to digital, and the rise of mass merchandisers? It's a very, very dangerous time to get distracted -- no matter who has control of the company."