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Non-Tech : Borders Group (BGP)
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To: LakesideTrader who wrote (338)5/13/1999 11:28:00 PM
From: Glenn Petersen  Read Replies (1) of 411
 
IMHO, AMZN will never buy BGP. Buying retail bricks and mortar would tank AMZN's stock price; look at the LCOS deal. AMZN would be much better served purchasing a distributor. BKS' acquisition of Ingram's book distribution business was a clever strategic move. However, I do not think that the acquisition will hurt either AMZN or BGP. If the acquisition is approved by the anti-trust regulators, BKS is going to be required to provide everyone with a level playing field as it relates to pricing. It may even cloud BKS' valuation as wholesale distribution is generally a low margin business and distributors are not accorded a high multiple.

I am new to this thread. I am currently long BKS as a back door play on the BNBN IPO. In the course of trying to value the BKS bricks and mortar, I have taken a close look at BGP and I like what I see. I think that the stock is oversold and could easily move back into the mid 20s. If the Internet sector tanks this summer, BGP may be viewed as the anti-AMZN. LOL. I hope to pick up some shares closer to 15. Good luck to all.

P.S. and somewhat OT: While buying books over the Internet is convenient, there are few things as enjoyable as going into a bookstore and experiencing the pleasure of a new discovery. You do not get that experience buying books over the Internet. I also find BKS stores sterile as compared to the BGP stores, though this is probably a personal preference. I don't know how long you have lived in the Chicago area, Trisha, but when BGP opened their first Chicago area site in Oakbrook, I knew that there was going to be life after the inevitable death of the Wabash Kroc's. Sorry for the ramble.
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