Bookseller Borders helped pioneer superstores that put countless mom-and-pop bookshops out of business, Now they have filed for bankruptcy protection.
My wife and I spent a good deal of money in Borders and Barnes and Normal. But last year we bough an IPAD, a Kindle, and a Nook. We quit buying conventional books and started buying most of our books and magazines electronically. It was clear to me that both stores would face major problems.
Amazing how quickly our dynamic economy changes. This was a great company. Now it is not clear that they can survive, caused primarily from technological innovation.
This trend has negative impacts on our cities. Borders and Barnes and Noble pay local sales tax and provide a meeting place and vitality for our cities. That revenue and vitality will go elsewher.