107Sid

Borders: CEO Jones Not Responsible for Sins of the Previous Management

Borders had an e-commerce initiative back something like seven or eight years ago, but unlike BKS which stayed the course, thru in the towel prematurely because its management couldn't stand the heat. Given the huge head start of AMZN and BKS the current initiative should prove to be a "nice try, but no cigar". Within most specialty retail segments there is room for only two longer term viable factors, and within the online book sector they have already been established--just as WMT and BKS have established preemptive leadership in the bricks and mortor retail book business. The BGP leases are of fairly long duration, thereby limiting its options with repect tot he closing of more marginal stores.