[According to this article Borders Books & Music will be closing all its stores. Presumably that will [include this Coeur [d’Alene [store at 450 West Wilbur.
July 18, 2011
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Yes, that store is on the map for closure. Sad, too.
I recall when Borders opened back in the 1990s. It was a big deal. I attended the opening of their San Francisco store, met some of the Borders big wigs. Their original plan was quite ambitious, but they never pulled it off. They did raise the bar for the entire industry.
Recently I needed a book and could have waited to have it sent from Amazon or picked it up that day at Borders. I opted for that day and was glad that the store was in town. Maybe we’ll get a B&N in the future.
Comment by Dan — July 18, 2011 @ 7:47 pm
What distinguishes Borders from Hastings? If Borders, or even Barnes & Noble, is superior to Hastings, why?
Comment by Bill — July 19, 2011 @ 7:02 am
Hastings is regional, but apparently they have their financial act better together than Borders did.
Comment by Dan — July 19, 2011 @ 8:30 am
And Cisco is laying off today. The old – bookstores – and the new – hi-tech. This “Recovery Summer” doesn’t look so good.
Comment by Pariah — July 19, 2011 @ 9:05 am
The only thing that has saved Hastings is their used products program. A huge chunk of their revenue comes from used products. As for their ability to survive long term, I don’t see a lot of hope there. John Marmaduke, the CEO, has run the company to the edge several times. He has chased off most of the talented corporate staff, and under his reign the company has been reactive, not proactive. As Netflix and the eReader market continue to grow Hastings will eventually die to. B&N is probably in the best position with their strong web presence and nook product line.
Comment by patrickh — July 19, 2011 @ 9:38 am
And Goldman Sachs announced it will lay off 1,000 people.
We watched the movie “Inside Job” last night. It’s a documentary about the economic collapse of 2008 and what caused it. Has anyone else seen it and, if so, what do you think?
Comment by mary — July 19, 2011 @ 9:39 am
Bill,
Borders had at one time prided itself on being a serious bookstore, and hired for book knowledge/passion, as does BN. Both went into mainly larger markets. Hastings, and Dan’s comment that they are regional is a bit of the mark most of the studios and publishers consider them national, goes into primarily small markets, Spokane and Boise are their two largest markets that they are in. They also distinguish themselves by focusing on Rental video and music.
Comment by patrickh — July 19, 2011 @ 9:46 am
patrickh,
Great comments and explanations. Thank you!
Comment by Bill — July 19, 2011 @ 11:00 am
Mary,
RE: “Inside Job”
Take a look at the book All the Devils Are Here – The Hidden History of the Financial Crisis by Bethany McLean and Joe Nocera, (c) 2010, published by Portfolio/Penguin.
Comment by Bill — July 19, 2011 @ 12:29 pm