Quote:
Originally Posted by QuantumIguana
The ship may have sailed, but it isn't quite sunk yet. If someone wants to invest, it follows that they think it is salvageable. But if it is going to survive, a house cleaning is going to be needed. If the Nook's problem is that B&N is doing things wrong, the new investors will need to clean house and bring in new people and processes that will work.
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Nook is not a lost cause but it needs clean sheet management that can come in and credibly repudiate any and all past decisions. And they need to come in within a month or so to have meaningful impact on the upcoming holiday hardware buying season.
BTW, B&N has just under 60m shares outstanding so valuing Nook at $5 a share values the entire operation at $300M. Buying 51% at that price is a pretty low buy-in into ebook retailing.
I doubt this goes anywhere.