Forum - View topicNEWS: Borders Reports US$300 Million Loss in Fiscal 2010
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here-and-faraway
 Posts: 1528 Location: Sunny California |
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$300 million dollars. Wow.
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Teriyaki Terrier
 Posts: 5689 |
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This is why I think they may be eventually forced (due to this crazy amount of money that they are continuing to loss) to file chapter seven, if they didn't already. But considering there is no longer a Borders anywhere I am, for better or worse, this news doesn't effect me. It really does seem that the era of bookstores is slowly coming to a close. Maybe not now, but it is possible in the next decade, maybe even much earlier. But at least Barns and Nobles is still around. For now at least. |
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firedragon54738
 Posts: 3113 Location: wisconsin |
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Dam 300 mill no wounder Tokyo Pop when belly up thank borders
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littlegreenwolf
 Posts: 4796 Location: Seattle, WA |
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Maybe it's just me because I never lived anywhere with a Borders, but I just don't understand why people are jumping to conclusions like bookstores in general are going out of business because Borders made a bunch of bad business moves. Barnes and Noble is doing fine (they never seriously branched out into multimedia like Borders) and so is Booksamillion, and in some areas independent bookstores are doing better than they have in years. Borders going down doesn't mean jack for the book industry. I spend most of my income on books, and have never set foot inside a Borders. Yeah, the industry is going to have to make some changes to make money with digital books as well as traditional format, but Barnes and Noble is doing a fine job at it. |
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NGK
Posts: 244 |
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$300 million
holy crap 
... and it's no wonder Tokyopop is closing its North American division. |
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TsukasaElkKite
 Posts: 3947 |
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300 million...holy crap.
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dlian
Posts: 8 |
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ummm. Actually, they aren't doing that great at all
Barnes and Noble has had declining sales and management problems. The company put itself up for sale last august, but no buyers have emerged. http://www.businessweek.com/news/2011-03-25/no-buyers-for-barnes-noble-at-60-cents-on-dollar-real-m-a.html The chart on the following page shows their share price dropping 70.63 percent. http://money.cnn.com/quote/quote.html?symb=BKS Booksamillion has had declining sales and profits, as well. http://biz.yahoo.com/e/110414/bamm10-k.html |
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potatochobit
 Posts: 1373 Location: TEXAS |
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barnes and nobles follows the exact same business model
true, they dont branch out as much as borders did, which was silly I even had worries about the company failing many years ago the real estate and labor costs probably were very high per city but honestly, what did them in is their high sticker prices and not realizing their customer pool was actually very small I tried to support them since they had a large manga selection and I liked how they tried to even bring in toys and other stuff instead of the buy 4 get 1 free or whatever they did, they should have just took a dollar or two off each volume and I think they would have sold a lot more. charging full retail prices is just absurd with places like amazon offering discounts and free shipping. Books are usually not a commodity people need instantly. Honestly, I did buy alot of spontaneous and new release manga from them. But I definitely kept an eye on prices and I dont think I bought a single anime disc. |
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Sunday Silence
 Posts: 2047 |
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I'm gonna call it; Chapter 7 by the end of Summer/beginning of Fall. Unless they prep for Christmas NOW, they're boned. Probably too busy with "other things."
Did DJ Milky pay you to say that, or are you just sockpuppets? TOKYOPOP was in dire straits even before Borders decided to kick the bucket, no thanks to DJ Milky's OCD problem.
It's all how you say it.... And in other news.....if your a Borders Rewards Member......they had a "security breach" after their employees posted the fact that the lookup system for Borders Rewards could be accessed from "outside" computers. |
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population_tire
 Posts: 575 |
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1. Buy Spider-Man from Sony
2. Make a movie 3. Make that much on opening weekend |
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shadow13
 Posts: 111 |
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I wonder why the publishers are not using normal business terms? Do they have something to gain by forcing borders into bankruptcy and possible out of business? |
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Covnam
 Posts: 3644 |
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No, but they have something to lose. They're simply asking to be paid first for their products instead of providing their product for credit and getting paid later. Basically they don't trust that Borders will ever pay them back if they don't pay up front. |
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asimpson2006
 Posts: 3151 Location: USA |
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Borders losing a lot of money and not paying them (TP) also was part of what did Tokyopop in. It was not all Stu Levy's fault. |
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Weiss_Yohji
Posts: 115 |
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I blame Kindle. Damn e-readers are a threat to books! We should get rid of e-readers! Burn them as witches for killing books! |
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Youkai Warrior
 Posts: 505 Location: Sarayashiki |
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This is not good news. I am now worried for Borders, as that's where I buy most my merch. However, I have nothing against Barnes and Noble, and do shop there sometimes. If worse comes to worse, there will always be B&N, but I still feel for Borders and will miss it if it goess, which, unfortunately, I think will be sometime in the future.
I don't get this either. Just because Borders is having trouble, doesn't mean that every bookstore is going to go down. There is a local bookstore here where I live that is doing quite well, and Barnes and Noble is still around and still doing fine. As long as there are people who want to get out, there will still be stores. Who wants to be a basement-dwelling, do-nothing but use the computer person?
I can't stand e-readers either. I don't care what anyone says, nothing can replace a real book in one's hands. I think the e-readers come in handy for when you're traveling, but I will not use it as a substitute for a real-life novel/book in my hands. |
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