Bill-- I think you don't see a lot of posting on Borders because it's doing so well. It's my guess that it's going to continue to do well. The most recent analyst recommendation I saw had a projection of 48, I think, so I wouldn't be taking profits anytime too soon. I'm also ready to unload half of a double, and am beyond the 1-1/2 year holding period for the best tax break.
The area where Borders has to improve still is on the internet, and I think it's fair to allow them some time to do that yet, given that they haven't made their real launch yet. I think they probably saved a good deal of money by letting Amazon and B&N go without chasing them right away. What they don't have now, as a result of that, is the brand name that Amazon has. And, frankly, they don't have the product that Amazon has . . . yet. I expect they will eventually, and they can't do worse financially on the internet than Amazon has, anyway. And re: brand name, I think they'll get enough mileage on the internet out of their store brand name to make up for a lot of what they've lost by waiting. |
