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Borders Changes Around Management, Wants an Aggressive Turnaround

I think the book business isn't a good business. The internet is just too interesting. Used book velocity has increased as used book companies have moved on-line as have used book swap sites. The music business is gone and on-demand video has crimped DVD sales.

The problem wasn't Jones and the answer isn't Marshall. If the board is happy with the change so far, what are they reacting to? Could it be the low stock price? This is a change that has been underway for 30-60 days, since the stock dropped below $5 a share.

This is trading like a bankruptcy, although they are generating positive cash flow and should recover. Big risk, big return.