SYNDICATED COLUMN: Pirate This Book
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Borders Goes Bankrupt. Will Books Survive? Borders Books and Music, which once employed 30,000 workers at more than 600 stores, is bankrupt. Those numbers have been halved. And even after these massive cuts, analysts say, Borders is probably doomed. The next time you walk past the empty ghost store where your local Borders used to be, you may ask yourself: Are we becoming a post-literate society? Everywhere you look the printed word is under economic siege. Despite a 20 percent increase in demand in recent years, libraries are laying off, closing branches and reducing hours. Newsweek, one of the most venerable titles in magazine history, was recently sold for a buck (plus a promise to assume tens of millions in debt). Twitter is priced at $3.7 billion, nearly twice the public enterprise value of The New York Times ($2.03 billion). The key word, of course, is the one in front of the word “word”: “printed.” We are reading more than…
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