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Wednesday, February 16, 2011

Borders Files for Chapter 11 Bankruptcy Protection - WSJ.com

I like visting our local Borders and I hope its not one of the 200 that are going to be closed.  I view the reason for the bankruptcy as a combination of bad management, bad business model, and changes in technology.

Borders missed web based book sales, and Amazon's trick of no sales tax through excellent lawyers has not helped them.  Very late to the game with e-Books.  And lots of management turn over.  And traditional book sellers are still working on a 1930's model that over prints books ,with 40% of books pulped.  The exception being for the rare best sellers that are blown out by Costco, Amazon, WalMart, etc...  And this is not even getting into what Print On Demand will do in the future (and Amazon is already heavy into this).

Borders Files for Chapter 11 Bankruptcy Protection - WSJ.com

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