Kids Running the Store

From time to time bookstore owners are forced to turn to their kids for help, especially during the holidays, when there never seem to be enough booksellers. But last fall a group of teens and tweens contributed their time and expertise without being asked.

Borders Faces Delisting and Other Signs of Distress

Borders said late Friday that it has been notified by the New York Stock Exchange that it is not in compliance with the requirement that a company's stock trade for a minimum of $1 per share over a consecutive 30 day trading period. The chain's stock closed at 39 cents on Friday. The company has six months to return to compliance or face delisting from the NYSE. During that period, Borders' shares can be still be traded on the exchange, provided it meets all other requirements.

ABA Partners with Monsoon

The American Booksellers Association continues to expand its strategic partnerships. Wednesday it announced a new relationship with Monsoon Commerce Solutions that will enable independent booksellers to list their used inventory in more than a dozen MCS online marketplaces at a reduced fee. Among the Web sites MCS supports are: Amazon, Barnes & Noble, and eBay.

Borders Lumbers Toward Bankruptcy

With Bloomberg and The Wall Street Journal both reporting that Borders could file for bankruptcy next week, publishers have started speculating about why the process will take that long. There has been little movement in publishers’ negative perception of Borders’s financial proposal, and although Borders is believed to be in a final round of negotiations, one large publisher said the communication with Borders "is terrible."

One publisher speculated that they delay is due to Borders getting its debtor-in-possession financing in place. The so-called DIP provides companies with the necessary cash to operate under Chapter 11. Borders must also make sure publishers will give them credit after the Chapter 11 filing, something that a publisher said “is no given.”

Mystery Bookstore Leaves L.A. With Long Goodbye

A motley overflow crowd of celebrity mystery writers and loyal customers gathered at the Mystery Bookstore in Los Angeles last night to mourn the closing of the beloved indie that served the community for over 20 years. Bestselling author Robert Crais stood amidst hundreds of well-wishers and commented on the loss of the last independent bookstore in the center of the city.

Leahy Reintroduces Bill to Restore Reader Privacy Protections

One month before controversial portions of the USA Patriot Act are set to expire, Sen. Patrick Leahy (D-VT) last week reintroduced a reauthorization bill that would restore protections for reader privacy that were eliminated by the Act in 2001.

BAM Moves Into Used Books

Last September, Books-a-Million quietly made a big move into the used books business with 2nd & Charles, a 40,000-square-foot test store located just outside the company's hometown of Birmingham, Ala., stocked almost exclusively with used merchandise (including CDs, DVDs, video games, and vinyl, as well as books).

E-books and More at Winter Institute 6

Despite pressure coming from a number of different areas on bricks-and-mortar bookstores, the American Booksellers Association's sixth annual Winter Institute, which took place January 18–21 at the Crystal Gateway Marriott in Arlington, Va., was surprisingly upbeat.

Borders Delays January Payments

Borders announced Sunday evening that it was delaying January payments to vendors and landlords in a move to conserve cash. The action will almost certainly end any hope Borders has of winning approval from publishers of its proposal to exchange missed December payments for notes.

Borders Gets Tentative Financing Commitment, But Has Lots of Hurdles

Borders announced Thursday evening that GE Capital has agreed to provide the company with $550 million in new financing, but the deal is subject to a number of conditions, including receiving $125 million in financing from publishers and other vendors.

Records Fall at Amazon as Kindles, E-books Rise

Amazon released more mind-numbing results for 2010, announcing a number of records and new milestones along with difficult-to-understand statistics. The top line was stellar with total sales for the year up 40%, to $34.2 billion, while net income rose 28%, to $1.15 billion.

Publishers Remain Cool to Borders Deal

Unless publishers undergo a change of heart, it appears likely that many will reject Borders’ proposal to exchange missed payments for notes. According to several sources, Borders wanted another meeting with publishers this week, but was turned down.

Winter Institute: Ideas That Work

At a presentation called Ideas That Work at last week's sixth annual Winter Institute for booksellers, which took place from Jan. 18-21 at the Crystal Gateway Marriott in Arlington, Va., former Association of Booksellers for Children executive director Kristen McLean, founder and CEO of tech venture Bookigee.com, and Cynthia Compton, owner of 4 Kids Books and Toys in Indianapolis, offered lots of suggestions for getting creative when it comes to displays and events.

Winter Institute: Leveraging Relationships

At last week’s ABA Winter Institute in Arlington, Va., maximizing relationships was a key theme, whether it was Chuck Robinson, co-owner of Village Books in Bellingham, Wa., speaking about a kiosk a local Apple dealer is building in his store to sell iPads—for which Village Books would provide e-reading—or Cynthia Compton, owner of 4 Kids Books in Indianapolis, describing how she partners with a local nonprofit on every store event. "What we’re doing on the frontline is extremely valuable. You should be able to leverage it," said Mitchell Kaplan, owner of several Books & Books stores in Southern Florida and the Cayman Islands.

Indie Presses Brace for Less Shelf Space

With publishers large and small fixated on what will happen to Borders, the news last week that Barnes & Noble had reorganized its buying group and in the process laid off a number of veteran booksellers, including v-p of merchandising Bob Wietrak and Marcella Smith, director of small press and vendor relations, came as a surprise.

Amazon Ups Its Edge

Apple caused a stir last week when it announced that it sold 7.3 million iPads in the quarter ended December 25, bringing the number of devices it has sold since it released the iPad last April to nearly 15 million.

Target Keeps Book Buyers in Its Sights

While all the big box stores carry books and all offer discounted bestsellers, Target competes most directly for those consumers who might otherwise make their purchases at bookstores.

Winter Institute: Children’s Books in a Digital Age

Children's books are a secure category in the marketplace and bookstores will continue to play a key role as a driver of sales were among the chief findings of a joint study undertaken by Bowker/PubTrack and the Association of Booksellers for Children, which was unveiled yesterday at Winter Institute. Sponsored by Random House, Little, Brown, Macmillan, Penguin, and Scholastic, the survey examined consumer attitudes toward purchasing children’s books in three categories: adults buying for children ages 0-6, adults buying for children ages 7-12, and teen consumers ages 13-17.

Borders Offer Worth Considering, Pubs Told

After a meeting between publishers and their financial advisor earlier this week, publishers were told that the Borders offer was at least worth considering.

ABA Winter Institute Kicks Off

If there was one thread woven through yesterday’s Legislative Day at the American Bookseller Association's Winter Institute, it was "the resurgent vitality in independent bookselling," which ABA president Michael Tucker, co-owner and CEO of San Francisco’s Books Inc., referred to at the opening session.