Ann Arbor Weather:
Monday September 25, 2017
Follow us: facebook twitter RSS feed
Print Comment E-mail

Bad Times at Borders

 

continued

Analysts who follow Borders Group are divided on its prospects. In recent conference calls with Jones and other Borders executives, they've asked how sales are holding up, how much revenue is being lost in music sales, and how long it will take the new borders.com website to become profitable (it is projected to break even this year and make money in 2009). But some investors remain enthusiastic.

"I wholeheartedly believe they have a future as an independent company," says Todd Sullivan, a value investor who owns Borders shares and is a cofounder of wallstnewsletters.com. Jones is "doing all the right things" by investing in a website and in the stores, Sullivan says.

Of course, Sullivan bought his Borders shares near their low of $4 in late March-so his investment has already gained value. Few others can say the same. According to Securities and Exchange Commission filings, Pershing paid $9 to $13 a share for its Borders stake. For that reason alone, Sullivan does not expect the company will be sold anytime soon: at current prices, a sale might cost Pershing half of its investment.

Bookmark and Share
previous  ·  1 ... 19 l 20 l 21  ·  next page
all on one page
read more stories here -> Marketplace  l  Culture  l  Community  l  News

You might also like:

Nightspots: Earle
Sprint for Flint
Mark Braun is racing to Mackinac Island by land and lake.
Sandor Slomovits
Ollie Food + Spirits
Ypsi innovators
Lee Lawrence
Restaurants with Alcohol Served
A clickable zoomable map
Feeding the Vegan Horde
The Lunch Room spins off a Filling Station.
Sabine Bickford
Films
Artisan Knitworks Moves to Chelsea
Hand-spun yarns from a husband-and-wife team
Shelley Daily
Flowers in Saline
Nightspots: Rush Street
Today's Events
Regent Hotel
only cycling studio on the University of Michigan's Campus
spark ann arbor