Thursday, January 6, 2011

Bye, Bye Borders?

Megan McArdle, The Atlantic: "'Needless to say, I'll never shop at Borders online again.' That's Kevin Drum, discovering that Borders apparently doesn't discount its online books--at least, books that aren't bestsellers. A lot of people seem to have decided not to shop at Borders, lately. The company's been struggling for years, as eBooks and Amazon cut into its market. Unlike Barnes and Noble, the company never really successfully transitioned to digital, leaving it with a lot of physical inventory and real estate assets that are rapidly becoming albatrosses with declining sales. The company is desperately trying to renegotiate its debt, including payments to vendors. And now ugly rumors are flying that management is telling people to start looking for other jobs ... "