Borders is starting off the new year with a big management change and a sobering warning from the NYSE. George Jones is being replaced as CEO of Borders after only two years. Ron Marshall, a principal of a private equity fund, will be taking over.
Book sales were down 11.7 percent at Borders over the holiday period from last year but that the website, Borders.com, did $20 million in business. Worse is that the NYSE has informed Borders that it is in danger of being delisted because it's trading at below $1.00 for over thirty days (and its undercapatilized).
Jane Litte is the founder of Dear Author, a lawyer, and a lover of pencil skirts. She spends her downtime reading romances and writing about them. Her TBR pile is much larger than the one shown in the picture and not as pretty.
You can reach Jane by email at jane @ dearauthor dot com