{"id":261036,"date":"2008-03-20T13:25:12","date_gmt":"2008-03-20T13:25:12","guid":{"rendered":"http:\/\/www.wdev.rochester.edu\/College\/translation\/threepercent-dev\/2008\/03\/20\/borders-for-sale\/"},"modified":"2018-04-16T17:32:21","modified_gmt":"2018-04-16T17:32:21","slug":"borders-for-sale","status":"publish","type":"post","link":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/2008\/03\/20\/borders-for-sale\/","title":{"rendered":"Borders for Sale"},"content":{"rendered":"<p>Not necessarily international lit related, but this is pretty big news (from <a href=\"http:\/\/news.shelf-awareness.com\/nlist.jsp?appid=411\">Shelf Awareness<\/a>:<\/p>\n<blockquote>\n<p>Borders is putting itself up for sale or may sell divisions. It has suspended its dividend. It is borrowing some $42.5 million from the hedge fund that is its largest shareholder. [. . .]<\/p>\n<\/blockquote>\n<blockquote>\n<p>[<span class=\"caps\">CEO<\/span> George] Jones added that Borders believes that its 2009 financial targets &#8220;remain attainable, yet within the current economic environment, we will be slowed in our progress and expect that we&#8217;ll reach them later than originally planned. Still, we believe our strategic plan remains the right path toward achieving these goals.&#8221; This plan includes the imminent launching of the company&#8217;s website on its own, the spread of &#8220;new concept&#8221; stores that emphasize digital offerings, the display of more titles face out and a related reduction in inventory of 5%-10%, among other initiatives.<\/p>\n<\/blockquote>\n<p>Anything involving a &#8220;reduction in inventory&#8221; makes me shudder, especially since I can make an educated guess as to what type of books will fall into that 5-10% . . . Depending on how this plays out, Borders could look entirely different in five years, as could the retail industry for books as a whole. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not necessarily international lit related, but this is pretty big news (from Shelf Awareness: Borders is putting itself up for sale or may sell divisions. It has suspended its dividend. It is borrowing some $42.5 million from the hedge fund that is its largest shareholder. [. . .] [CEO George] Jones added that Borders believes [&hellip;]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[67486],"tags":[806,1836],"class_list":["post-261036","post","type-post","status-publish","format-standard","hentry","category-articles","tag-business-of-books","tag-cwp"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts\/261036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/users\/292"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/comments?post=261036"}],"version-history":[{"count":1,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts\/261036\/revisions"}],"predecessor-version":[{"id":358896,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/posts\/261036\/revisions\/358896"}],"wp:attachment":[{"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/media?parent=261036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/categories?post=261036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rochester.edu\/College\/translation\/threepercent\/wp-json\/wp\/v2\/tags?post=261036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}