A Dallas/Ft. Worth web site notes that locally-based (and expanding) Half Price Books posted on the Help Ex-Borders Employees site looking to hire–and has already filled at least a few jobs in Texas as a result. Half Price vp of training Steve Leach says, “The thing to remember about Borders is that they trained an army [of] damned good booksellers. Say what you will about their corporate decisions, but at the ground level, these are some of the best and brightest that the book industry has to offer. It would be a shame to lose so much book industry knowledge […]
Bookstores
International: Israeli Government Investigates Book Chain Steimatzky
Following a price battle with bookselling competitor Tzomet Sfarim, Israel’s Steimatzky Ltd. is said to be under investigation by the Antitrust Authority for possible violation of promises made when they merged with the Sifri bookstores. Israel’s Globes writes that “questioning under caution indicates that the Antitrust Authority believes that it has grounds for an indictment.” They report that “Steimatzky allegedly demanded exclusivity from publishers on books sold in sales campaigns, which would result in Steimatzky’s competitors being forced to sell the books at full price. An industry source said the case involves hundreds of titles.” Tzomet said it wouldn’t carry […]
August 10 Hearing Set for Approval of Auctions for Borders’ Intellectual Property and Leases
Borders has filed proposed plans for multiple auctions of their intellectual property assets and leases, and an omnibus hearing before Judge Martin Glenn has been scheduled for August 10 to rule on those motions and other objections. They want to auction their IP assets on September 14, with bids due September 8, and can sell the assets to one or more buyers. Borders proposes to sell their unexpired leases in two rounds, based on the deadlines for when those leases must be rejected or assumed. The auction for the the first round would be August 31 and the auction for […]
Vague Rumor of Interest in Barnes & Noble from Apple Stirs Market, Briefly
It was a funny (as in odd) day in publishing-related market rumors Thursday. Boy Genius Report “received a tip from an unproven source claiming to have knowledge of discussions within Apple to possibly purchase Barnes & Noble…. It also almost makes too much sense for Apple to do this, said another source of ours, mentioning that Apple doesn’t make moves that appear logical to most outside observers at the time.” Barnes & Noble’s stock jumped 3 percent immediately and then settled back during the day. Funnier (as in ha ha) was the sharp as a truck analyst Brian Marshall at […]
BAMM Picks Up Two More Waldenbooks Outlets
Books-a-Million has agreements with The Cafaro Company–whom we mentioned yesterday–to take over at least two more Waldenbooks locations that are being liquidated. One is in Monroe, MI and one is in St. Clairsville, OH. Both were on that “option” list of additional stores Books-a-Million was looking at when they initially bid for 30 Borders Group locations. So BAMM is now filling all five of the “option” stores, along with two other superstores, all managed by Cafaro. Cafaro spokesperson Joe Bell said the company has eight locations currently occupied by Borders Group and “of these, he said, most will become Books-A-Million […]
Amazon’s Meager Profit Is Still Better than Expected
Amazon’s profits are still declining even as the company post big gains in sales–but the second-quarter drop in profits was not as bad as Wall Street was expecting, so that counts as bullish news for investors (who now value the company at a more than 90 times its earnings). Sales increased 51% to $9.91 billion, about $500 million of that gain attributed to favorable foreign exchange; net income was $191 million or 41 cents a share, down from $207 million a year ago (on much smaller sales). But analysts were expecting only 34 cents a share on sales of under […]