The Christian Science Monitor and other news sources say that Borders Group may declare bankruptcy soon.
Readers of The Investment Edge know that I am partial to Borders. I worry that the bookseller, which has been in death throes for several years, is only the tip of the iceberg and that competitors — like Barnes and Noble — will soon follow. Frankly, while no one understands the march of technical progress (books by download) better than me, I love the tactile feel of a book and even the smell of printer’s ink and paper. For me, there’s not much better than sitting in a cafe, surrounded by books, drinking a decaf iced coffee, and researching and writing, or reading Barron’s and making notes.
Sometimes the march of progress leaves unhappiness in its wake. Ah, well. Hopefully it will take at least 10 years to kill off all the bookstores. Or, better, maybe someone will come along with a better idea — a smaller footprint, maybe, but with print books and digital, and, of course, the all-important cafe.