Borders shares dive on cashflow concern

boxcorner · 01-02-2011, 09:00 AM

"Shares in Borders have fallen 15% after the US bookselling group said it would delay payment to some publishers in a bid to preserve cash."

bbc.co.uk/news/business

abookreader · 01-02-2011, 10:35 AM

I'm just going to chime in with a recommendation now that if you have an online Library of media at Borders that you wish to insure future access to -

Download
Back-up
and if you think it important, liberate

Like most insurance policies, hopefully it is one you never need. But if you do need it, don't wait until it is too late.

Used up my Gift Cards yesterday on those $5 ebooks they are offering on sale. If you have some lying around, you might want to check it out because there were some pretty decent titles on the list.

NNolan · 01-02-2011, 11:31 AM

I've spent all but $12 of my Borders gift cards in the last 24 hours, just picking up titles recommended in an "Urban Fantasy" thread here. Now to figure out what to do with that last 12 bucks....

dallas · 01-02-2011, 09:47 PM

I stopped at my local Borders today to see if they had a book light. They were busier then I can ever remember them being this time of year. The checkout line was Christmas time long. Anyway, I heard a few people talking about them going out of business and saw a lot of gift cards out as I walked by.

On a happy note, Book light mission accomplished!

taming · 01-03-2011, 02:05 AM

At one time, Borders US owned 10% of Kobo. I am not sure if that is the case now, nor do I know what it means in terms of Kobo's well being.

PS: I just read something on Bloomberg that said Borders owned 20%. It was dated September 2010.

laughingdragons · 01-03-2011, 02:56 AM

Quote:

Originally Posted by taming

At one time, Borders US owned 10% of Kobo. I am not sure if that is the case now, nor do I know what it means in terms of Kobo's well being.

PS: I just read something on Bloomberg that said Borders owned 20%. It was dated September 2010.

Thanks for that reminder probably should backup my library there also.

frquixote · 01-03-2011, 03:04 AM

Got a very large Borders gift card for Christmas. Fortunately, I ALSO have/had a VERY big ebook wish list. Just need to buy a couple more books and it will be all used up.

Rats! Picked BETA over VHS, IBM OS/2 over MS Windows, HD-DVD over Blueray, Palm OS over all the others, and epub over Amazon. Got any technologies you'd like to see killed off??

taming · 01-03-2011, 03:05 AM

I wouldn't worry about Kobo. Borders lost money this year. B&N lost money this year, but Chapters Indigo--which owns 59% of Kobo is flush. See this article in the Globe and Mail from early December. If Borders goes out of business, the shares in Kobo would probably be the only thing of value they have to sell. The Kobo-Borders % was true at one time, but Kobo had a second big influx of money since the Bloomberg article. I have no idea what Border's share of Kobo is now.

@laughing dragon: I am assuming that since you have a Sony reader, you have downloaded from Kobo using Adobe or Calibre (for non-DRM), so you are good to go with backups. Let's not get all panicky about this.

The bigger issue for Kobo is that they may no longer have a US partner with bricks and mortar stores. Kobo readers are being sold at Best Buy, Future Shop, Chapters, and Walmart in Canada and I would expect that they could sell in similar ways in the US. The only difference would be that purchasers would connect to Kobobooks.com instead of Borders.

luqmaninbmore · 01-03-2011, 08:08 AM

Quote:

Originally Posted by taming

The only difference would be that purchasers would connect to Kobobooks.com instead of Borders.

And that would be an improvement.

carld · 01-03-2011, 01:20 PM

Some publishers stop shipping books to Borders, but new financing is on the way.

Borders To Offer New Financing Plan; Publishers Suspend Book Shipments

fjtorres · 01-04-2011, 03:04 PM

Quote:

Originally Posted by carld

Some publishers stop shipping books to Borders, but new financing is on the way.

The CIO just quit.
Also an Exec VP.

carld · 01-04-2011, 05:59 PM

Quote:

Originally Posted by fjtorres

The CIO just quit.
Also an Exec VP.

Yep, just read that. Things are suddenly a mess at Borders.

Two Borders Execs Resign

tubemonkey · 01-04-2011, 06:18 PM

Quote:

Originally Posted by frquixote

Rats! Picked BETA over VHS, IBM OS/2 over MS Windows, HD-DVD over Blueray, Palm OS over all the others, and epub over Amazon. Got any technologies you'd like to see killed off??

Apple iOS

tubemonkey · 01-04-2011, 06:28 PM

From the article:

Quote:

"We think the playing field should be even," the B&N statement says. "We expect publishers to offer same terms to all other booksellers, including Barnes & Noble and independent booksellers. We fully expect publisher’s will require Borders to pay their bills on the same basis upon which all other booksellers pay theirs. Any changes in publishers terms should be made available to all."

Why? They're not under any obligation to do so. They can play favorites if they like and offer better terms.

Don't like it? Take your business elsewhere.

fjtorres · 01-04-2011, 09:29 PM

B&N has troubles of their own and their best hope of survival is for Borders to die fast.
They fully understand that when running from a hungry lion the best strategy is to trip the guy running next to you.

01-02-2011, 09:00 AM	#1
boxcorner »(°±°)« Posts: 826 Karma: 775629 Join Date: Oct 2010 Device: divisive reader	Borders shares dive on cashflow concern "Shares in Borders have fallen 15% after the US bookselling group said it would delay payment to some publishers in a bid to preserve cash." bbc.co.uk/news/business

01-03-2011, 02:05 AM	#5
taming Trying for calm & polite Posts: 4,012 Karma: 9455193 Join Date: May 2010 Location: Mostly in Canada Device: kobo original, WiFI, Touch, Glo, and Aura	At one time, Borders US owned 10% of Kobo. I am not sure if that is the case now, nor do I know what it means in terms of Kobo's well being. PS: I just read something on Bloomberg that said Borders owned 20%. It was dated September 2010. Last edited by taming; 01-03-2011 at 02:15 AM. Reason: new material

01-03-2011, 03:05 AM	#8
taming Trying for calm & polite Posts: 4,012 Karma: 9455193 Join Date: May 2010 Location: Mostly in Canada Device: kobo original, WiFI, Touch, Glo, and Aura	I wouldn't worry about Kobo. Borders lost money this year. B&N lost money this year, but Chapters Indigo--which owns 59% of Kobo is flush. See this article in the Globe and Mail from early December. If Borders goes out of business, the shares in Kobo would probably be the only thing of value they have to sell. The Kobo-Borders % was true at one time, but Kobo had a second big influx of money since the Bloomberg article. I have no idea what Border's share of Kobo is now. @laughing dragon: I am assuming that since you have a Sony reader, you have downloaded from Kobo using Adobe or Calibre (for non-DRM), so you are good to go with backups. Let's not get all panicky about this. The bigger issue for Kobo is that they may no longer have a US partner with bricks and mortar stores. Kobo readers are being sold at Best Buy, Future Shop, Chapters, and Walmart in Canada and I would expect that they could sell in similar ways in the US. The only difference would be that purchasers would connect to Kobobooks.com instead of Borders. Last edited by taming; 01-03-2011 at 03:21 AM. Reason: link, clarity, and additional information

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01-02-2011, 10:35 AM	#2
abookreader Wizard Posts: 1,516 Karma: 2567610 Join Date: Oct 2009 Device: Kindles - Keyboard, Fire, 2-US, iPhone, iPAD	I'm just going to chime in with a recommendation now that if you have an online Library of media at Borders that you wish to insure future access to - Download Back-up and if you think it important, liberate Like most insurance policies, hopefully it is one you never need. But if you do need it, don't wait until it is too late. Used up my Gift Cards yesterday on those $5 ebooks they are offering on sale. If you have some lying around, you might want to check it out because there were some pretty decent titles on the list.

01-02-2011, 11:31 AM	#3
NNolan Compulsive Gadget Geek Posts: 395 Karma: 4219324 Join Date: Mar 2010 Location: Almost Canada Device: One of each, and two in some cases	I've spent all but $12 of my Borders gift cards in the last 24 hours, just picking up titles recommended in an "Urban Fantasy" thread here. Now to figure out what to do with that last 12 bucks....

01-02-2011, 09:47 PM	#4
dallas Member Posts: 21 Karma: 552 Join Date: Dec 2010 Device: Kindle, Nookcolor, iPod Touch	I stopped at my local Borders today to see if they had a book light. They were busier then I can ever remember them being this time of year. The checkout line was Christmas time long. Anyway, I heard a few people talking about them going out of business and saw a lot of gift cards out as I walked by. On a happy note, Book light mission accomplished!

01-03-2011, 03:04 AM	#7
frquixote Addict Posts: 230 Karma: 2448688 Join Date: Mar 2006 Location: Kapolei, Oahu, HI Device: KOBO Libra 2, Kindle PW3, Samsung 8A Tablet, Samsung S10e Phone	Got a very large Borders gift card for Christmas. Fortunately, I ALSO have/had a VERY big ebook wish list. Just need to buy a couple more books and it will be all used up. Rats! Picked BETA over VHS, IBM OS/2 over MS Windows, HD-DVD over Blueray, Palm OS over all the others, and epub over Amazon. Got any technologies you'd like to see killed off??

01-03-2011, 01:20 PM	#10
carld Wizard Posts: 2,698 Karma: 4748723 Join Date: Dec 2007 Device: Kindle Paperwhite	Some publishers stop shipping books to Borders, but new financing is on the way. Borders To Offer New Financing Plan; Publishers Suspend Book Shipments

01-04-2011, 09:29 PM	#15
fjtorres Grand Sorcerer Posts: 11,732 Karma: 128354696 Join Date: May 2009 Location: 26 kly from Sgr A* Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000	B&N has troubles of their own and their best hope of survival is for Borders to die fast. They fully understand that when running from a hungry lion the best strategy is to trip the guy running next to you.

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