tag:blogger.com,1999:blog-35428618.post6524752362112908728..comments2024-01-20T00:59:08.689+00:00Comments on Brave New World: Borders, Bookchains and Hard TimesMartyn Danielshttp://www.blogger.com/profile/02134633193540004531noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-35428618.post-22413573345461902222010-08-12T09:23:49.295+00:002010-08-12T09:23:49.295+00:00just to add fuel to the debate - a view of Austral...just to add fuel to the debate - a view of Australia's biggest chain http://www.crikey.com.au/2010/08/11/closing-the-book-on-retailing-publishers-nervous-at-giants-health/Martyn Danielshttps://www.blogger.com/profile/02134633193540004531noreply@blogger.comtag:blogger.com,1999:blog-35428618.post-60780155611786749242010-08-11T22:39:57.185+00:002010-08-11T22:39:57.185+00:00When I was at Borders, the most destructive change...When I was at Borders, the most destructive change was when they went public. When they had to start answering to stockholders, quarterly earnings became the benchmark for everything. Adding the executives of Waldenbooks to their staff didn't seem to help, either, since soon afterwards they adopted more of a mall bookstore mentality.<br /><br />Being tied to quarterly returns stifled innovation and the ability to move quickly on new ideas. I have seen that happen with other companies, in many industries. Going public may put a lot of money in the owner's pockets in the short term, but it is often the kiss of death (or mediocrity) for the business itself. I have never actually seen a business improve once it added stockholders to the mix.Jessenoreply@blogger.comtag:blogger.com,1999:blog-35428618.post-27297923544855324642010-08-11T22:03:10.431+00:002010-08-11T22:03:10.431+00:00again no one has the right to trade on forever the...again no one has the right to trade on forever they must react to the market and consumer demands. The problem that bookchains have is that they like all market leaders can become cumbersome, heavy and slow to change. Yes they also can believe their dine right to trade. Sadly they often forget how to run.<br />I had the good fortune to work as an executive in a major UK retailer and our strength then was to constantly change and challenge. Even when we were top of tree we still knew we had to develop, change ,reinvent. sadly today's chains lack this spark, drive and 'can do' nature.<br />MartynMartyn Danielshttps://www.blogger.com/profile/02134633193540004531noreply@blogger.comtag:blogger.com,1999:blog-35428618.post-19256952516954168662010-08-11T18:57:09.474+00:002010-08-11T18:57:09.474+00:00When a company first becomes successful it’s due t...When a company first becomes successful it’s due to the reaction in the marketplace to their products. But what happens when the market shifts and they don’t? The Chicago Tribune and Barnes & Noble are prime examples of what happens when you try to stick to your Success Formula.<br />http://bit.ly/bSvPl3Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35428618.post-65949243296335534342010-08-11T18:47:20.013+00:002010-08-11T18:47:20.013+00:00thank you for this insightful perspective and I wo...thank you for this insightful perspective and I would suggest you got it spot on re the initial internet position which is replaying today. Amazon was the goose that laid the golden egg but accountants only saw a goose and couldn't see a golden egg<br />MartynMartyn Danielshttps://www.blogger.com/profile/02134633193540004531noreply@blogger.comtag:blogger.com,1999:blog-35428618.post-74841193935833631852010-08-11T18:21:04.590+00:002010-08-11T18:21:04.590+00:00Borders has been in trouble since the 90s.
I work...Borders has been in trouble since the 90s.<br /><br />I worked there in the early 90s, and put them on Internet, back during the days of GOPHER pages. When the WWW portion of Internet came out, I moved them to that. <br /><br />As the WWW grew in popularity, I told them (almost verbatim) "If we don't get our catalog online and get more serious about this, a little company called Amazon will become the main seller of books online. We could be number 1, if we move now. If we don't, we will never catch up to Amazon, and even Barnes and Noble will beat us to the punch."<br /><br />They told me that they didn't think the WWW would be a big thing for a long time, and declined to expand things. I quit and got a job as a programmer/web developer.<br /><br />The company had already made a number of big mistakes, though, most of which started when they went public. After they bought Waldenbooks, things really went to Hell in a handbasket. The work environment suffered a lot, but they also ended up cutting the depth of their holdings and made changes that affected the quality of new employees. <br /><br />The two things that made them stand out from Barnes and Noble - superior stock and service - went away, and they became a second-rate bookstore chain. They brought it all on themselves.<br /><br />These days, I buy all my books at used bookstores or on the Internet. I won't give Barnes and Nobles my business, because they got rid of their horror section and blended it into regular fiction, which makes it very difficult to browse for new titles in that genre. I just don't have any sympathy or loyalty to either of those chains anymore.Anonymousnoreply@blogger.com