save the economy! buy more books!
Nov. 7th, 2008 08:26 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
lagilmanIn case you were wondering how the banking and consumer credit crunch played out in 'real life':
GalleyCat has received a copy of a "special alert" sent from a major book distributor specializing in independent publishers to its clients, warning them that Borders, whose financial difficulties are widely recognized, "now tell us that they will not be paying us for two months due to anticipated excessive returns," a situation the company views with understandable concern. This distributor "typically carries receivables of approximately two million dollars with Borders," the memo continues. "A default of that amount would by no means put [us] out of business, but it would be painful, weaken the short-term health of the company, and would mean we would have to defer some of our plans for future growth."....
The memo emphasizes, however, that this distributor does not actually recommend that any of its clients start denying Borders their titles:
"Borders has been paying [us], they are reported to have cash on hand and access to credit in the future, and the last thing anyone wants is to have only one giant chain in the retail book market. Borders may prosper, and even in the worst case, given [our] uniquely flexible policy, the value of your inventory would be preserved."
more at: http://www.mediabistro.com/galleycat/bookselling/major_distributor_raises_concerns_over_borders_99936.asp?c=rss
GalleyCat has received a copy of a "special alert" sent from a major book distributor specializing in independent publishers to its clients, warning them that Borders, whose financial difficulties are widely recognized, "now tell us that they will not be paying us for two months due to anticipated excessive returns," a situation the company views with understandable concern. This distributor "typically carries receivables of approximately two million dollars with Borders," the memo continues. "A default of that amount would by no means put [us] out of business, but it would be painful, weaken the short-term health of the company, and would mean we would have to defer some of our plans for future growth."....
The memo emphasizes, however, that this distributor does not actually recommend that any of its clients start denying Borders their titles:
"Borders has been paying [us], they are reported to have cash on hand and access to credit in the future, and the last thing anyone wants is to have only one giant chain in the retail book market. Borders may prosper, and even in the worst case, given [our] uniquely flexible policy, the value of your inventory would be preserved."
more at: http://www.mediabistro.com/galleycat/bookselling/major_distributor_raises_concerns_over_borders_99936.asp?c=rss
