LJNDawson.com, Consulting to the Book Publishing Industry
Book Publishing Industry Consultant

Borders Borders Borders Borders Borders

After having staffed up in the IT department and launched downloadable ebooks and audiobooks with Overdrive, Borders is on the brink of...something horrible involving having its various divisions bought up by Pershing Square Capital Management, the hedge fund that is Borders's largest shareholder. According to Shelf Awareness this morning:

[CEO George] Jones added that Borders believes that its 2009 financial targets "remain attainable, yet within the current economic environment, we will be slowed in our progress and expect that we'll reach them later than originally planned. Still, we believe our strategic plan remains the right path toward achieving these goals." This plan includes the imminent launching of the company's website on its own, the spread of "new concept" stores that emphasize digital offerings, the display of more titles face out and a related reduction in inventory of 5%-10%, among other initiatives.
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