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Monday, March 31st, 2008Source: United Press International (Original Article)
Borders explores selling itself
ANN ARBOR, Mich., March 21 (UPI) — Book-selling chain Borders Group Inc., has hired two financial concerns to look into future strategies including possible sale of the company.
The company announced Thursday it earned $84.7 million in the fiscal quarter ending Feb. 2, compared with $87.7 million a year ago.
But, the company is up against competition from discount stores, such as Wal-Mart, and online sellers, such as Amazon.com. Nontraditional outlets have surpassed traditional bookstores in sales, The Dallas Morning News reported
“I don’t think it means the superstores are in any sort of trouble at all,” Jim Milliot of Publishers Weekly told the paper.
Borders rival Barns & Noble said it expects to expand this year, opening 35 to 40 new stores, the newspaper said. Chief Operating Officer Mitchell Klipper said Thursday Barnes & Noble was interested in acquiring Borders.
Tests on Boeing Dreamliner reveal problems
CHICAGO, March 21 (UPI) — U.S. aerospace giant Boeing announced that tests on prototype Dreamliner 787 jetliners revealed “the need for some improvements.”
The Chicago-based company released a statement Thursday saying “robust tests,” had discovered flaws in the plane and that “the fix is being installed on Airplanes 1-6,” at their factory in Everett, Wash.
“It is a normal part of the development of a new airplane to discover the need for improvements,” the Boeing statement said.
Boeing has already announced two delays in production schedules for the 787, causing some customers to look into leasing or buying planes elsewhere.
A new production schedule for the Dreamliner is expected by the end of March.
Three in discussions to buy Newsday
NEW YORK, March 21 (UPI) — Chicago’s Tribune Co. reportedly has three possible buyers for one of its most profitable papers, Newsday, and may wish House And Garden Article 13184 to unload it soon.
The New York …continue reading