Wayne,
A tidbit today stated that this CEO was hired to lead them onto the internet. Given the recent strategy switch, which I feel is positive, maybe this CEO just wasn't the right fit anymore.
Re: Waldenbooks, I like the way Borders looks now from a fundamental analysis/numbers standpoint. Qualitatively I hate Waldenbooks. But if a business that is turning in great numbers and has ugly parts to it still, well, all the better. If this was as good as Borders could get, I might not be so interested.
BTW, Robert Half had a 2 million share dump at the open that dumped it eleven points. Then it trended lower, then rallied at the end pretty significantly to close above its open. I was lucky to buy near the low today, and my cost basis is now 26 and change (my initial buy was 29 15/16). My first blow-up of the year, and it doesn't hurt so bad.
Mike |
