July 18, 2011

If You Are Not Careful, You Can Eventually Hit Your Head on a Debt Ceiling

Carroll Andrew Morse

There are about a half-a-dozen things I could comment on, in reaction to the announcement by Borders Books today that it is going all-the-way out of business. For now, following on from Justin's post earlier today, I will simply note this passage from the Wall Street Journal story on the subject...

Borders filed for bankruptcy-court protection in February. It has since continued to bleed cash and has had trouble persuading publishers to ship merchandise to it on normal terms that allowed the chain to pay bills later, instead of right away.
...and ask why Borders' current ownership didn't simply show the publishers that they had raised their debt ceiling, so that everything could continue as before. After all, that's a solution good enough for the finances of the Federal government (in the minds of some), right?

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I think I did this. Borders had ordered 1000 copies of Rescue One Responding, the sequel to Rescuing Providence.

Coming to a Job Lot near you!

Oh well.

Posted by: michael at July 18, 2011 9:02 PM

Did they pay up front?

Posted by: Andrew at July 18, 2011 9:45 PM

no such luck!

Posted by: michael at July 18, 2011 10:53 PM

I am not much of a reader of popular fiction. My greatest fear is being trapped on a desert island with 15 Danielle Steel novels.

I am a fan of John Sanford. the few times I went there, they had no idea what I was looking for. Every time I requested something,I was told they would have to order it. So,why not Amazon?

In general, I favor used book stores. Won't miss Borders, except for the magazine section. Now, I will have to subscribe to Practical Machinist and actually pay for the reads.

Posted by: Warrington Faust at July 19, 2011 1:46 PM
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