Borders needs $50 million more

Fbone · 04-23-2011, 01:51 AM

Sources say the additional money is needed to prevent liquidation. Publishers are demanding cash in advance. Retail sales lower than expected.

http://www.freep.com/article/2011042...ditional-money

GA Russell · 04-23-2011, 06:59 PM

Thanks for the link!

This kind of reminds me of the Phoenix Coyotes, another operation that nobody wants to put good money after bad in.

Ken Maltby · 04-24-2011, 10:57 AM

Ssh...Nobody tell Obama.

Luck;
Ken

Musette · 04-24-2011, 11:57 AM

So why don' t we all gather a few million of our closest friends and "donate" a dollar.

Edited to add the smiley, wasn't being at all serious.

elcreative · 04-24-2011, 12:31 PM

Why support a business whose executives have proven incapable of doing it... probably couldn't organise a ******* in a brewery... not a good way to attract even a dollar's investment...

Quote:

Originally Posted by Musette

So why don' t we all gather a few million of our closest friends and "donate" a dollar.

soondai · 04-24-2011, 12:56 PM

they did remember to go to court to grant themselves 8 or 9 million in bonuses, still.

Quote:

Originally Posted by elcreative

Why support a business whose executives have proven incapable of doing it... probably couldn't organise a ******* in a brewery... not a good way to attract even a dollar's investment...

AlbertaCowboy · 04-24-2011, 03:04 PM

Quote:

Originally Posted by GA Russell

Thanks for the link!

This kind of reminds me of the Phoenix Coyotes, another operation that nobody wants to put good money after bad in.

Borders should just hire Gary Bettman to revitalize and expand their operations. He sure knows what's economically viable!

SensualPoet · 04-24-2011, 03:25 PM

I hope they find the additional financing and sort out a way to survive and thrive .. keeping good folks in their jobs and supporting the book reading / book publishing / book distribution industry.

It is all well and good to stomp on Border's grave ... but when it is gone, it is gone. I don't notice a flurry of NEW independent bookshops popping up anywhere. It's a biter landscape without any bookshops at all.

Kali Yuga · 04-25-2011, 01:43 PM

Yeah, Borders is pretty much toast.

Anyone employed by them has had ample warning of the impending doom.

I don't regret their passing much; after all, it's not like Borders held back when it was putting indies out of business. Nor can a flood of tears or the gnashing of teeth hold back social and economic changes....

RainingLemur · 04-25-2011, 03:36 PM

I feel bad when I hear about big companies dropping and putting tons of people out of work. But, they also put some smaller bookstores out of commission that were privately owned and operated (saw one small shop put out of business when a Borders opened up in town) which can have a bigger impact than just losing a job.

Hope that the small people come out ok in this.

Lemurion · 04-25-2011, 05:19 PM

Quote:

Originally Posted by GA Russell

Thanks for the link!

This kind of reminds me of the Phoenix Coyotes, another operation that nobody wants to put good money after bad in.

Lots of people want to put money into the Phoenix Coyotes - They're just all in Winnipeg!

04-23-2011, 01:51 AM	#1
Fbone Is that a sandwich? Posts: 8,288 Karma: 101697116 Join Date: Jun 2010 Device: Nook Glowlight Plus	Borders needs $50 million more Sources say the additional money is needed to prevent liquidation. Publishers are demanding cash in advance. Retail sales lower than expected. http://www.freep.com/article/2011042...ditional-money

04-24-2011, 11:57 AM	#4
Musette Enthusiast Posts: 25 Karma: 15000 Join Date: Jul 2010 Location: Midwest USA Device: Kobo Libra 2	So why don' t we all gather a few million of our closest friends and "donate" a dollar. Edited to add the smiley, wasn't being at all serious. Last edited by Musette; 04-24-2011 at 02:12 PM.

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04-23-2011, 06:59 PM	#2
GA Russell Stampeders are hot! Posts: 7,692 Karma: 31487351 Join Date: Aug 2009 Location: Raleigh, NC Device: Paperwhite, Kindles 10 & 4 and jetBook Lite	Thanks for the link! This kind of reminds me of the Phoenix Coyotes, another operation that nobody wants to put good money after bad in.

04-24-2011, 10:57 AM	#3
Ken Maltby Wizard Posts: 4,466 Karma: 6900052 Join Date: Dec 2009 Location: The Heart of Texas Device: Boox Note2, AuraHD, PDA,	Ssh...Nobody tell Obama. Luck; Ken

04-24-2011, 03:25 PM	#8
SensualPoet Wizard Posts: 2,302 Karma: 2607151 Join Date: Nov 2009 Location: Toronto Device: Kobo Aura HD, Kindle Paperwhite, Asus ZenPad 3, Kobo Glo	I hope they find the additional financing and sort out a way to survive and thrive .. keeping good folks in their jobs and supporting the book reading / book publishing / book distribution industry. It is all well and good to stomp on Border's grave ... but when it is gone, it is gone. I don't notice a flurry of NEW independent bookshops popping up anywhere. It's a biter landscape without any bookshops at all.

04-25-2011, 01:43 PM	#9
Kali Yuga Professional Contrarian Posts: 2,045 Karma: 3289631 Join Date: Mar 2009 Device: Kindle 4 No Touchie	Yeah, Borders is pretty much toast. Anyone employed by them has had ample warning of the impending doom. I don't regret their passing much; after all, it's not like Borders held back when it was putting indies out of business. Nor can a flood of tears or the gnashing of teeth hold back social and economic changes....

04-25-2011, 03:36 PM	#10
RainingLemur Spork Connoisseur Posts: 2,355 Karma: 16780603 Join Date: Mar 2011 Device: Nook Color	I feel bad when I hear about big companies dropping and putting tons of people out of work. But, they also put some smaller bookstores out of commission that were privately owned and operated (saw one small shop put out of business when a Borders opened up in town) which can have a bigger impact than just losing a job. Hope that the small people come out ok in this.

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