Some Street-related dispatches from last week's entry in the Human Comedy: Kim Kardashian filed a silly sounding but well-grounded lawsuit against Old Navy's use of a lookalike; gaming magnate Steve Wynn went all FOXNews on a conference call; and Barnes and Noble surged, nonsensically, on Borders' liquidation.
Following Chapter 11 bankruptcy, Borders now plans to liquidate its remaining stores. But there's a bright side to the big box bookseller's death: Its long and tragic tale provides plenty of fodder for investors. Use these lessons to ensure that your future investments have a happier ending.
The death of bookstore chain Borders begs the question: Is there still a place in the Internet-dominated market for brick-and-mortar booksellers and the value they add? Independent bookstores thinks so, and the numbers in the American Booksellers Association, believe it or not, are growing.
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?
Just as rumors of a merger with Borders Books began to fade, the bookseller is once again in the spotlight as a major stakeholder, Aletheia Research and Management, is embroiled in legal troubles and an SEC investigation.