Borders and Barnes and Noble are having severe problems, according to an article in the Wall Street Journal.
"Never in all of the years I've been in business have I seen a worse outlook for the economy. And never in all my years as a bookseller have I seen a retail climate as poor as the one we are in. Nothing even close. The latest bubble in our system has burst, this time taking with it the hopes and dreams of tens of millions of Americans, and leaving many more in fear of their now uncertain futures. Worse, the full extent of the potential damage is still not known as this confluence of financial disasters has no precedent in our nation's history. Moreover, uncertainty itself can lead to more damage in the system, and thereby help accelerate the downward slide. Alas, we live in a consumer-driven economy: the paradox being that if we don't spend, we go broke."
The article ends on an upbeat note:
Finally, customer service becomes ever more important in times like these. And, as Mitchell might say, "Put the book in our customers' hands and don't keep them waiting in line!"
Let's make the best of the season!
I intend to do some shopping at my local B&N, how about you?