Borders books - DEAD!

Hate & Discontent

Yo, homie. Is that my briefcase?
Aug 22, 2005
15,799
1,350
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#1
Another company down the tubes...

Borders Group Inc. said it would liquidate after the second-largest U.S. bookstore chain failed to receive any offers to save it.

Borders, which employs about 10,700 people, scrapped a bankruptcy-court auction scheduled for Tuesday amid the dearth of bids. It said it would ask a judge Thursday to approve a sale to liquidators led by Hilco Merchant Resources and Gordon Brothers Group.

The company said liquidation of its remaining 399 stores could start as soon as Friday, and it is expected to go out of business for good by the end of September.

Borders filed for bankruptcy-court protection in February. It has since continued to bleed cash and has had trouble persuading publishers to ship merchandise to it on normal terms that allowed the chain to pay bills later, instead of right away.

"Following the best efforts of all parties, we are saddened by this development," said Borders President Mike Edwards. "We were all working hard toward a different outcome, but the head winds we have been facing for quite some time, including the rapidly changing book industry, [electronic reader] revolution and turbulent economy, have brought us to where we are now."

Borders's best chance for survival fell apart last week when talks with private-equity investor Jahm Najafi to buy the company collapsed. Borders scrambled unsuccessfully over the weekend to find other potential buyers who would keep the chain alive.

The chain's demise could speed the decline in sales of hardcover and paperback books as consumers increasingly turn to downloading electronic books or having physical books mailed to their doorsteps.

"When you lose literally miles of bookshelves, it's going to have an impact," said David Young, chief executive of Lagardère SCA's Hachette Book Group, which Borders owed $36.9 million at the time of its bankruptcy filing. "I hope other retailers will now step up and make offers for what they consider to be the prime sites," Mr. Young said. "It's a tragedy Borders didn't make it through."

The loss of Borders may also make it more difficult for new writers to be discovered. "The liquidation of Borders is an irreplaceable loss of a big part of the book-discovery ecosystem," said Michael Norris, a senior analyst at Simba Information, a unit of MarketResearch.com "Thousands of people whose job consisted of talking up and selling books will eventually being doing something else, and that's bad for authors, agents, and everyone associated with the value chain in books."

Mr. Norris said other booksellers, including Barnes & Noble Inc. and Amazon.com Inc., will go after the shoppers who formerly considered themselves Borders customers. "They won't be able to pick up everyone," he added. "If shopping at your local Borders is part of your weekly routine, and then Borders is gone, you may end up doing something other than buying books."

Write to Mike Spector at mike.spector@wsj.com and Jeffrey A. Trachtenberg at jeffrey.trachtenberg@wsj.com
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NuttyJim

Registered User
Feb 18, 2006
14,154
6,428
638
#3
it was only a matter of time. I don't go into book stores anymore now that I have an Ipad. I just get everything on there.
 

ShooterMcGavin

Go back to your shanties.
May 25, 2005
18,029
1,380
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#4
it was only a matter of time. I don't go into book stores anymore now that I have an Ipad. I just get everything on there.
This.

Digital media is killing the economy. Everything is free now anyway.
 

BIV

I'm Biv Dick Black, the Over Poster.
Apr 22, 2002
79,627
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Seattle
#5
I hate this. Nothing compares to a real book in your hands.
 

jimmyslostchin

Malarkey is slang for bullshit isn't it?
Jun 8, 2005
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NJ
#7
I hate this. Nothing compares to a real book in your hands.
I agree, but at the same time I can't remember the last time I went to a Borders. It's either a small local book store, Barnes and Noble, or ordering online. I think most of that had to do with all the Borders nearby being in malls. Fuck that noise.
 
Jun 2, 2005
15,516
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Dallas
#11
Yep, this is what happens when a company refuses to adapt to the market. Barnes and Noble creates the Nook, increases their online presence, Border's does cute shit like this:

 

CousinDave

Registered User
Dec 11, 2007
25,297
198
393
Ohio
#13
Yep, this is what happens when a company refuses to adapt to the market. Barnes and Noble creates the Nook, increases their online presence, Border's does cute shit like this:


Every time I order from Amazon there is a bath room only a few feet away
 

Hog's Big Ben

Getting ass-***** in The Octagon, brother.
Donator
Jul 28, 2005
28,439
18,543
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New York
#14
How do you read a book on a backlit iPad without your eyes bleeding?
The same way I watch TV on a backlit LCD without my eyes bleeding or sit in front of a backlit LCD at work for 8 hours a day without my eyes bleeding. It's as if I have indestructible retinas or something.
 
Jun 2, 2005
15,516
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Dallas
#15
How do you read a book on a backlit iPad without your eyes bleeding?
The same way I watch TV on a backlit LCD without my eyes bleeding or sit in front of a backlit LCD at work for 8 hours a day without my eyes bleeding. It's as if I have indestructible retinas or something.
+1

I read a computer screen or watch TV all day every day anyway. I mean, my grandmother had a hard time with them blasted TV screens and their cancer causing ways, but I think we like, evolved or sumpin.
 

Don the Radio Guy

G-Bb-A-D
Donator
Mar 30, 2006
69,623
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Wyoming
#16
Anyone who says they can't deal with an e-reader hasn't used a Kindle or Nook for more than 5 minutes. Once you start, it's over Johnny. The only thing they don't do better than a real book is color pictures.
 

Guilty Spark

It's freeing and refreshing
May 4, 2005
6,403
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Long Island NY
#17
I dunno, I look at a computer all day too, but reading a novel on an iPad just plain sucks balls.

E Ink for the vision saving win.
 
Jun 2, 2005
15,516
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Dallas
#18
I honestly don't read books much any more (it's how I killed time in the Navy... It's like a not eating the same food you had to eat it prison so to speak), but my chick does constantly. I figure I can read all these CE threads all day, I'm constantly researching and reading long articles and news stories, can't be too much different, right?

I've never understood the whole "backlit display fucks with your eyes" argument. It's never affected me at all.
 

Guilty Spark

It's freeing and refreshing
May 4, 2005
6,403
2,212
608
Long Island NY
#19
I think it fucks with your eyes a lot more if you're trying to read a 1,000 page book at 10 point type.

You can go the senior citizen 72 pt type route, I guess. I saw a lady on the train reading a book on her iPad and there were literally 10 words on each page.
 

Don the Radio Guy

G-Bb-A-D
Donator
Mar 30, 2006
69,623
5,081
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Wyoming
#20
I've never understood the whole "backlit display fucks with your eyes" argument. It's never affected me at all.
My problem with backlit displays is they're too hard to read in the sun. I can sit on the beach with my Kindle and read all day.
 
Jun 2, 2005
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Dallas
#22
My problem with backlit displays is they're too hard to read in the sun. I can sit on the beach with my Kindle and read all day.
I will agree with that, but chances are if I'm in the sun I'm drinking a beer, wearing polarized sunglasses, and doing something. I haven't graduated to that point in life where I can read a book by the pool and find that relaxing.
 

VMS

Victim of high standards and low personal skills.
Apr 26, 2006
10,309
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#23
I think it fucks with your eyes a lot more if you're trying to read a 1,000 page book at 10 point type.

You can go the senior citizen 72 pt type route, I guess. I saw a lady on the train reading a book on her iPad and there were literally 10 words on each page.
Yup. Go with larger type. Which is something you have to buy a whole new book for, with dead tree books.

And for most eReader apps for iPad/iPhone/Android, you can change the font, color combination, etc. to match the environment. Reading in the sun may still be less than ideal, but no more than using your smartphone outside in the sun, and that doesn't seem to bother people all that much.
 
Jun 2, 2005
15,516
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Dallas
#24
I know for awhile my wife reversed the color scheme on her reader. (black background, white type) I haven't seen it in awhile so I don't know if it stuck, but there's definitely options.
 

lockjaaaaww

All out of Bubble Gum.
Apr 26, 2008
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bohemia, ny
#25
good Barnes and Noble is soooooooo much better than Borders. I drive 2o mins to B&N when it would take 5 mins to get to Borders. They rarely have discounts, have a crappy selection and always sell full price. I've been monitoring my store like a vulture just waiting for a going out of business sale.