Bennett LeBow

Borders: Getting Closer to the Bookseller's Final Chapter

The country's second-largest book retailer had been counting on a Christmas miracle to rescue it from deep financial doldrums. But the holiday season played Scrooge instead. Now, confronting a liquidity shortfall, a bankruptcy seems more likely than ever.

Borders' Bid for B&N Will Go Nowhere Fast

When Barnes & Noble announced it was looking for a buyer, we entertained the fanciful notion that its smaller rival, struggling book retailer Borders, might put in a bid. As absurd as the idea was, that buyout offer has been made. Here's why it has virtually no chance of succeeding.

More Bad News for Borders With 2Q Earnings

For the quarter ending July 31, overall sales dropped 11.5% from a year ago to $526 million, continuing a downward spiral that's seen revenues over this time decline year-on-year from $945 million in 2007 to $749 million in 2008 to $617 million in 2009.

Borders' New Chairman: Bad For Business?

Thanks to a $25 million stock purchase by financier Bennett LeBow, book retailer Borders has itself a brand new boss. If you're one of the company's stockholders, you might want to consider LeBow's past before planning for the future.

Borders Group Finds Its Rich Uncle

Bennett LeBow, financier and chief of tobacco company Vector Group, will become Borders' chairman and biggest shareholder with his $25 million investment in the struggling bookseller. The deal needs shareholder approval, and it's likely to get the nod.