Borders: Start looking for other jobs

soondai · 01-07-2011, 10:58 AM

More ominous portents from an author with connections:

http://www.briankeene.com/?p=5330

I've also been getting emails from them like crazy since the New Year. Today I got one saying I'd "earned $3.15 in Borders Bucks" which were good until 1/31. Later in the mail it mentioned it was my balance as of 12/24 (I spent it before the New Year"

So it looks like they're doing anything they can to lure people in to the stores. Including rolling December Borders Bucks over thru January

. But also (deceptively?) telling people they have Borders Bucks they already used

I hope they pull it out somehow, but it does not seem likely.

jbcohen · 01-07-2011, 11:00 AM

Has the Wall Street Journal or CNBC said anything on this matter?

Kali Yuga · 01-07-2011, 11:34 AM

I wouldn't place much stock in the author's blog.

I've never heard of a company telling employees "things are bad, start looking for work," no matter how dire the situation. They could be prepping to lay off half the company and they'd still say "things are looking up!"

It's unlikely Borders would go straight to Chapter 7 anyway, 11 (reorg) seems much more likely, and they'll need staff to try and rebuild their business.

JP36 · 01-07-2011, 02:37 PM

From my little experience when a company or store is going down no one knows except those that absolutely need to and they almost never tell anyone especially just 'any' employee. No store/manager/etc wants their people looking for work, having a bad attitude, or not showing up because they aren't going to have a job in a month/week whatever.

screwballl · 01-07-2011, 03:10 PM

There is a decent story here too dated for Dec 31, 2010:

http://www.futureofcapitalism.com/20...ancial-trouble

Basically over the past decade all these places that got advertising dollars from Borders have been trying to use editorials to get people to buy the devalued stock. But when a stock is devalued or "beaten-down", there is a reason for it. This may be the last hurrah unless Borders steps up and really kicks it into the digital age.

Hellmark · 01-07-2011, 03:11 PM

The only time I've ever heard of a place telling employees to start looking for work is after it has been announced that they were closing. Border's hasn't done that.

01-07-2011, 10:58 AM	#1
soondai Guru Posts: 672 Karma: 1109784 Join Date: Aug 2010 Device: Paperwhite	Borders: Start looking for other jobs More ominous portents from an author with connections: http://www.briankeene.com/?p=5330 I've also been getting emails from them like crazy since the New Year. Today I got one saying I'd "earned $3.15 in Borders Bucks" which were good until 1/31. Later in the mail it mentioned it was my balance as of 12/24 (I spent it before the New Year" So it looks like they're doing anything they can to lure people in to the stores. Including rolling December Borders Bucks over thru January . But also (deceptively?) telling people they have Borders Bucks they already used I hope they pull it out somehow, but it does not seem likely.

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01-07-2011, 11:00 AM	#2
jbcohen Wizard Posts: 3,025 Karma: 11196738 Join Date: Oct 2010 Location: Piper College Device: Samsung A21	Has the Wall Street Journal or CNBC said anything on this matter?

01-07-2011, 11:34 AM	#3
Kali Yuga Professional Contrarian Posts: 2,045 Karma: 3289631 Join Date: Mar 2009 Device: Kindle 4 No Touchie	I wouldn't place much stock in the author's blog. I've never heard of a company telling employees "things are bad, start looking for work," no matter how dire the situation. They could be prepping to lay off half the company and they'd still say "things are looking up!" It's unlikely Borders would go straight to Chapter 7 anyway, 11 (reorg) seems much more likely, and they'll need staff to try and rebuild their business.

01-07-2011, 02:37 PM	#4
JP36 Enthusiast Posts: 48 Karma: 20 Join Date: Dec 2010 Location: East Coast of America Device: Ipaq 2200, Pocketbook IQ 701, Sony PRS350	From my little experience when a company or store is going down no one knows except those that absolutely need to and they almost never tell anyone especially just 'any' employee. No store/manager/etc wants their people looking for work, having a bad attitude, or not showing up because they aren't going to have a job in a month/week whatever.

01-07-2011, 03:10 PM	#5
screwballl NewKindler Posts: 504 Karma: 1865773 Join Date: Dec 2010 Location: NWFL Device: Kindle3 Wifi	There is a decent story here too dated for Dec 31, 2010: http://www.futureofcapitalism.com/20...ancial-trouble Basically over the past decade all these places that got advertising dollars from Borders have been trying to use editorials to get people to buy the devalued stock. But when a stock is devalued or "beaten-down", there is a reason for it. This may be the last hurrah unless Borders steps up and really kicks it into the digital age.

01-07-2011, 03:11 PM	#6
Hellmark Wizard Posts: 2,549 Karma: 3799999 Join Date: Jun 2009 Location: O'Fallon, Missouri, USA Device: Nokia N800, PRS-505, Nook STR Glowlight, Kindle 3	The only time I've ever heard of a place telling employees to start looking for work is after it has been announced that they were closing. Border's hasn't done that.

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