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There are a lot of ways to look at B&N.
I won't try to detail them all. Just one.
"Decisions are made for the benefit of the decision makers."
B&N is going out of business. It can't compete online with just books and support those all those Brick and Mortar stores. It can't sell those stores or spin them off profitably. Too many obligations.
The biggest players (the President, the VPs, the top managers) in the company know that and are going to organize the ledgers and the reports for as long as possible so that their paychecks and pensions are as large as possible these last few years before bankruptcy. No matter what else happens that is paramount in the secret, unspoken business plan.
As an aside, the small book sellers are now Walmart, Target, my local CVS, my local Inglis grocery store. There is no way that B&N can downsize quickly enough with all their obligations to compete with those stores.
I will give you a case of my favorite store.
COMPUSA. I loved that store. It died.
Then I took my computer business to Circuit City. It died.
Then I took my business to Best Buy. It's computer section, both hardware and software is slowly dying, but it sells enough TVs, games, etc., to get by, so far.
So now I have moved everything to Amazon, and instead of talking to salesmen, I read professional reviews and customer reviews. It is probably working out better than before, but it does take a lot more of my time.
It is a lot safer buying a book on line than a router, or a computer or a external hard drive. It is not such a large investment, and a book review or blurb is a lot easier to understand than a computer review.
It is fun for a lot of us to go into a book store, but obviously us fun lovers didn't support the stores enough.
One last question. What does the last big predator fish in the fish tank eat?
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