Borders looking for a buyer

[DaleDe]

After posting so so results for last year Borders seems to be looking for a buyer. The results were:
The company today also reported results for the fourth fiscal quarter and full year 2007, ended Feb. 2, 2008. As detailed below, on an operating basis, fourth quarter income from continuing operations was $84.7 million or $1.44 per share compared to $87.7 million or $1.45 per share a year ago.

See the post at: Borders web site

[Ervserver]

maybe we should buy it

[tsgreer]

Yeah, here is another link: http://news.yahoo.com/s/ap/20080320/...skM8wfW.pxFb8C

I'm wondering how that will affect the Sony Reader. My local Border's store has the reader on display, but I wonder if the new owners (if they get sold) will be as friendly to an e-reader.

They may even think that e-formats are their direct competition and do away with that. If happens, it seems that it may be a minor blow to the Sony Reader situation.

[MerLock]

Does anyone know how their new website is doing? Is it out of beta and any new word about the planned distribution of books for the sony reader?

[TallMomof2]

When I purchased pbooks I rarely bought from Borders because they were almost always more expensive than Books a Million or Amazon. Since I started buying ebooks the only time I've been in Borders was to see the Sony Reader.

[Taylor514ce]

I like Borders <shrug>. At least my local store employs reasonably erudite people perfectly willing to stop what they're doing and chat with me about what books I might like based on shared interests. I like pulling three or four titles from the shelves, sitting down with them in the coffee shop and browsing them until I decide on a purchase. And though it's manipulative, their Rewards program usually ensures I have a 20-30% off coupon in my wallet. I like their location, too. Close to a Cold Stone Creamery, a Panera, etc. This goes back to a discussion elsewhere about Bookstores vs. eBookstores, or something like that. Buying an ebook directly online is great if I know what I want. I haven't seen the experience I describe above duplicated yet online.

[tsgreer]

Originally Posted by Taylor514ce

I like Borders <shrug>. At least my local store employs reasonably erudite people perfectly willing to stop what they're doing and chat with me about what books I might like based on shared interests. I like pulling three or four titles from the shelves, sitting down with them in the coffee shop and browsing them until I decide on a purchase. And though it's manipulative, their Rewards program usually ensures I have a 20-30% off coupon in my wallet. I like their location, too. Close to a Cold Stone Creamery, a Panera, etc. This goes back to a discussion elsewhere about Bookstores vs. eBookstores, or something like that. Buing an ebook directly online is great if I know what I want. I haven't seen the experience I describe above duplicated yet online.

I agree. I really like Borders too. In fact, in my area, I like Borders better than Barnes and Noble. I'm an e-book fanatic, but I do enjoy going into my Borders and browsing around, looking through the book and relaxing. It was always pretty busy at this one too, so it's a shame if they go away.

But the times are changing. We are having a "perfect storm of events" that causes this in the U.S.: less people reading, people worrying about finances, companies worrying about finances, convenience of buying books online and a tiny bit (but growing) audience preferring e-books.

I think there will be more and more stories like this. Barnes and Noble is still making a pretty good profit, and considering that they may be "the last one standing," they will be around for a while because no other place to visit.

I'm torn though; I do prefer e-books, but I like the atmosphere of bookstores. Sad to say, I even sometimes go there to read on my Kindle while waiting for my girlfriend to finish shopping in the mall.

[Taylor514ce]

E-book readers need a barcode scanner. Browse in a bookstore, find a book you like, scan it with your Kindle, and it's in your shopping cart for the brick-and-mortar's online partner/counterpart.

[DaleDe]

Originally Posted by Taylor514ce

E-book readers need a barcode scanner. Browse in a bookstore, find a book you like, scan it with your Kindle, and it's in your shopping cart for the brick-and-mortar's online partner/counterpart.

Interesting idea but why not just use the hardware that is there. The USB connection could be used to establish a connection to a computer program that would grab the id and then the purchase could be accomplished. It could all be done at the cash register of a properly designed brick and mortar / eBook store. The eBook would then be downloaded directly. This could be made to work with all of the eBook Readers with no additional hardware cost for the reader device. Of course a Kindle can use whisper net but then the store gets no credit.

Dale

[VillageReader]

I've never been a big fan of Borders. Their decisions on where to put books has always been, mmm, whimsical at best.

For example, the last time I was there I was looking for books for a trip to South America to read (there aren't a lot of international authors in e-book format yet, at least with things I haven't already read). I looked for Vargas Llosa, a favorite. In 'books in translation' there was one of his books filed under 'v'. In fiction there was one filed under 'l' (also translated to English). Perez Reverte had one in fiction, one in mystery. Both were, I think, from the same series (the 1st being Purity of the Blood, but I can't recall the main character's name). They are definitely NOT mysteries and are more similar to Three Musketeers/swashbuckler tales.

Since I have such trouble figuring out how to find what I want in their stores if I'm browsing in a physical store it is much more likely to be Barnes & Noble or a local independent.

[rhadin]

Originally Posted by VillageReader

I've never been a big fan of Borders.

I'm not a fan of Borders either. They finally built a store in my area and I went to it twice. it was depressing. Very poorly designed -- like entering a catacomb. Dark, dreary.

Borders (also the owner of Waldenbooks) always had very poor marketing. I worked for several years at Waldenbooks and it was frustrating. Store setup was dictated by a central office. Perhaps it was a good setup for Chicago, but it wasn't a good setup for Poughkeepsie -- different folks and different interests. And they required booksellers to sell the discount cards (and had required numbers) or lose their job. Didn't matter how knowledgable about books they were or how helpful to customers -- sell or be gone!

I've never worked for B&N so I don't know if that is different but it is a much more pleasant experience walking into the local B&N. It is brightly lit, employees are generally helpful, and rather than telling me that the book I want is found in a far corner, they actually take me to it -- and experience I did not have at Borders.

FWIW, Borders is not trying to sell its US operations. it is trying to sell several of its overseas operations so it can continue its restructuring in the US. In the meantime, if they can't sell anything off, several shareholders have arranged to loan several hundred million dollars to Borders.

[RobbieClarken]

I love my local Borders because I am on an email list [link for Aussies] that gives weekly vouchers. I always get at least 20% off books at Borders and sometimes up to 40% off. Plus Borders is the only bookshop I've found with a decent selection of maths and physics books. I hope any sale of the business doesn't change things.

[Ervserver]

Amazon would be a likely buyer, Amazon outlet stores where they can sell the Kindle

[curtw]

Originally Posted by VillageReader

I've never been a big fan of Borders. Their decisions on where to put books has always been, mmm, whimsical at best.

For example, the last time I was there I was looking for books for a trip to South America to read (there aren't a lot of international authors in e-book format yet, at least with things I haven't already read). I looked for Vargas Llosa, a favorite. In 'books in translation' there was one of his books filed under 'v'. In fiction there was one filed under 'l' (also translated to English). Perez Reverte had one in fiction, one in mystery. Both were, I think, from the same series (the 1st being Purity of the Blood, but I can't recall the main character's name). They are definitely NOT mysteries and are more similar to Three Musketeers/swashbuckler tales.

Since I have such trouble figuring out how to find what I want in their stores if I'm browsing in a physical store it is much more likely to be Barnes & Noble or a local independent.

But in a Borders, at least the computer kiosks are self-serve, and you can find out for yourself where something is shelved. At B&N, you need to stand in line for their dubious "assistance."

Last year (before Borders opened locally), I wanted to get my father-in-law a copy of "Maus." I searched the stacks in "History, WWII," "History, General," and "Graphic Novels" (where the rest of Art Spiegelman's work was shelved) before asking for help. After waiting in line 10 minutes, the B&N employee was able to tell me to look in "Biography."