Borders Deathwatch: Tick Tick Tick
The hits just keep on coming for poor Borders. I've been waiting to see the bookseller go under for ages, not with anticipation, but with dread. We all know they are closing a zillion Waldenbooks , and while at first they intended to pulp the unsold books, apparently they are now donating them , so bravo there. But now CEO Ron Marshall is leaving (to head up the A&P? really?) after only one year on the job. His chief merchandising officer is the interim CEO. Meanwhile, Borders' holiday sales were dismal , even extending the definition of "holiday" from Nov. 1 to Jan. 16. Sales were nearly 15 percent below last year. Worse, they have been accused of delaying payments to small publishers , because small press has more shallow pockets and doesn't have the wherewithal to sue the hell out of them like Random House or Harper Collins. I might point out they still owe me a check for a signing I did in 2008, so clearly something is wrong here. This attitude toward sma...