Borders Group (BGP) Message Board

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Non-Tech : Borders Group (BGP)

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To: stokaholic who wrote (96)	1/10/1999 9:59:00 AM
From: Catcher	of 411

i just looked at my borders gift cert (it is the best present i get EVERY year)...a "trend"? IT carries NO EXPIRATION date. Agree with former acct who said best to book cert revenue when they are cashed in. the question this keeps raising in my mind is "Don't all booksellers (eg barnes /noble) handle the same way. If no one else is whining about it are we expected to believe that the trend toward certs was a conspiracy unique to borders...in the same way that "harsh winters" seem to fall on borders stores...unseasonably warm everywhere else--hey guys, get a new Investor Relations spokesperson. as to how to account for certs that get lost (and never cashed). you simply look at historical records to see, out of 100,000 certs, how many get cashed 2 yrs out, 3 yrs out...then make a decision that past "x" yrs, take outstanding certs as revenue. still wondering what REAL story is with this stock. downgrades like we've seen would NOT be due to increased cert trend--heck, that simply builds for an ultra-stellar next quarter. oh yeah, as an analyst, do i downgrade a premier book seller cause they are investing in internet distribution??? when amzn is skyrocketing? more likely i downgrade for LACK of entry.

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