Former President Bill Clinton offered up some wide-ranging prescriptions for curing the nation's ailing economy in a speech at the National Retail Federation's annual convention Monday, from investing in new sectors for job growth to cutting taxes on business.
Should the deeply troubled Borders chain close, publishers will survive just fine. But for authors who don't have instant name recognition with book buyers, the loss of an outlet with scads of shelf and floor space is a serious blow. Plus, it's one less place where authors and readers can connect.
24/7 Wall St. recently looked at a number of large American companies, some of which are owned by foreign companies, to see which will disappear in 2011. It didn't take long to come up with a list of familiar names such as Sara Lee, Office Depot, Borders, E*Trade and five others.
The country's second-largest bookstore widened its third-quarter loss to nearly double that of a year ago. Even worse, the estimated value of its inventory has declined, making it harder for Borders to borrow money. Will the company find a way to transform itself?
Online sales during the holiday season are likely to exceed their 2009 levels as shoppers shift away from shopping at some brick-and-mortar operations such as electronics and warehouse stores, said market research firm The NPD Group in a report Wednesday.
An unspecified number of the 650 employees working at the company's Ann Arbor headquarters have been cut. The stock price has already dipped on the news.
Think struggling book retailer Borders finished with layoffs in 2010? With four rounds of layoffs so far this year and no new ideas for a turnaround, don't be surprised if co-CEO Bennett Lebow pulls out his old 1980s playbook and makes a bid for, say, Barnes & Noble.
Investors clearly aren't convinced new CEO Bennett LeBow's arrival is good news for Borders. Could it be his checkered history of failed hostile takeovers of larger companies, funneling company money for personal use and many rounds of litigation?
Ailing books retailer Borders hopes to ring in the new year with good news on the electronic front. The company announced on Tuesday it will launch an e-book store on its Web site, with the help of Canadian digital book company Kobo -- and that a dedicated e-reader is in the works.
