Borders ceo Mike Edwards provides a “rare interview” to the Ann Arbor News, trying to obtain through the press the financing from publishers that he isn’t getting through direct negotiations. Big publishers remain unconvinced that there is a sound business reason for them to carry all the risk and finance Borders’ attempt to re-emerge from bankruptcy (so that Edwards and his team can collect bonuses). Edwards pedals it as a “shared risk scenario” but it’s not clear who else besides the creditors would be taking any risk. (The implication is that he’s still using the prospect of Borders liquidating as […]
