Tagged: Ann Arbor

Update March 14th, 10:14 a.m.

Tony Dearing is AnnArbor.com's chief content officer. He posted a comment over the weekend on AnnArbor.com about the layoffs. Here's what he wrote:

While personnel issues are an internal matter and we don't discuss them publicly, I can confirm that we reorganized our newsroom this week to put our focus more squarely on local news coverage. As a new organization, we have tried a lot of things. Now that we are well into our second year, the community has told us very resoundingly that what it wants most from us is hard news coverage, particularly in the areas of government, education, police, courts, health, the environment, University of Michigan sports, and business. These areas of coverage account for all but a tiny percentage of our readership and revenue. Meanwhile, we also have put a lot of effort toward other things -- including lifestyle topics like Passions and Pursuits, The Deuce, Homes and some areas of Entertainment coverage -- that our community has shown much less interest in, and we are scaling back in those areas.

We have made tremendous progress since we launched, and we continue to be very happy with the growth we're seeing in audience and revenue. But from the beginning, we said that we would be shaped by what the community wants, and the community wants us to focus more sharply on local news reporting. We have repositioned ourselves to throw our energy and resources into our local news coverage and that is how we will operate moving forward as we continue to grow.

On the public radio program Here & Now, host Robin Young was interviewing Gabrielle Hamilton, the chef and owner of the New York City restaurant “Prune.” She wrote a memoir called “Blood, Bones & Butter: The Inadvertent Education of a Reluctant Chef,” (which chef Anthony Bourdain called “simply the best memoir by a chef - ever.”).

During the interview Young asked Hamilton about her time in Ann Arbor, Michigan.

Young says, "like a lot of Americans, you thought, 'Ann Arbor, Michigan… cheese cubes.'"

You can hear Young's comment in the audio here. It's at the 6 minute mark.

That comment sparked one listener to write in. Phillip wrote:

I do hope that someone from your Michigan network of stations will  contact the host of Here and Now about her  comment yesterday  regarding Ann Arbor; specifically, in an interview with the chef/ author of Prune, the host
remarked something to the effect that "When  most of us think of Ann Arbor, we think of cheese cubes..."  Give me a  break!

Well, we did share that comment with the producers at Here & Now and host Robin Young wrote back:

Dear Phillip

OY YI YI!!!!

The cheese cube kerfuffle!!

We're going to address on a letters segment on air, but I've been writing the (many!) people who've written.

Just to clarify.. what I said was, "YOU" (meaning the author) thought Michigan meant cheese cubes. This is what she writes in the book! Then I went on to say, but you found otherwise.

I buy from Zingermans!! I don't think Ann Arbor means cheese cubes!

SO sorry for leaving that impression,

Best
Robin Young
Here and Now

Borders Books started in Ann Arbor as a small independent book store.

Tom and Louis Borders opened it in Ann Arbor, Michigan in 1971.

The first Borders bookstore was located at 209 State Street, north of the State Theater.

Eve Silberman was a graduate student in Ann Arbor when she got a job at the very first Borders Bookstore owned by the Borders brothers.

The company recently declared bankruptcy.

Silberman sat down to talk with public radio host Dick Gordon of The Story.

Silberman talked with Gordon about her memories of working at the first Borders bookstore (she described herself as "not a very good worker").

She recalled several things about the first Borders Bookstore:

• Joe Gable was the "shaper and caretaker" of the store (many thought Gable was a Borders).
• Gable saw the store as a "cathedral of books" and the workers were the "worshippers."
• Classical music played in the store.
• Potential employees had to take a test to get a job at the store.
• The store carried unique titles.
• The store's cash register was complex at the time.

Host Dick Gordon asked Silberman about the sense in Ann Arbor about the misfortunes of Borders.

The company handling the liquidation sales at some 200 Borders Books stores announced today the sales will begin Saturday.   Hilco Merchant Resources of Chicago issued a press release saying the liquidation will begin with 20 to 40% on all merchandize with some exceptions. Over $350 million of inventory including books, magazines, music and movie media, calendars, posters and more will be liquidated.  

Borders Books’ successful trip through bankruptcy is contingent on deals with publishers.    Borders filed for bankruptcy protection Wednesday. 

Court documents show the Ann Arbor-based bookseller owes more than $150 million to 7 publishers, including Simon & Shuster, Random House and Penguin.    Borders has also been delaying payments to publishers since December. 

Independent bookstore owners are not sure whether Borders Books expected bankruptcy filing this week will be good news for their businesses. 

Analysts expect Borders will close 200 or more stores as part of any bankruptcy plan.  

When Borders Books and other mega-bookstore chains started opening 40 years ago, it seemed like the end for many small local bookstores.   They found it difficult to compete with the big stores with their wider selections, coffee bars and other amenities. But the obituary for the corner bookstore was a bit premature.  

Now that online book sales and e-book readers are shrinking the market for big-box bookstores,  the smaller footprint booksellers suddenly have a brighter future. Deb Leonard is the executive director of the Great Lakes Independent Bookseller Association. 

“Those independent stores in those neighborhoods will benefit because people need a place to go.”

Leonard says, in some cases, local bookstores might consider taking over former Borders locations.

Borders Books is expected to begin its next chapter this week. The Ann Arbor based bookseller is expected to file for bankruptcy protection Monday or Tuesday. 

On Friday, the Wall Street Journal reported Borders will likely file for bankruptcy protection this week. Borders stock fell by a third on the news.

It’s not like the news was unexpected. Borders has been struggling financially for years. Less than a year ago,  investors were paying more than $3 for a share of Borders stock. When the market closed Friday, you could have bought a share of Borders Books for 25 cents.

Borders is still the nation’s number 2 traditional bookstore with more than 600 stores. But as book buyers have spent more online, Borders’ share of the total book market has shrunk.

It’s been delaying payments to publishers and others since December, as the company has tried to hang on to some cash. Borders’ bankruptcy plan reportedly includes closing more than 200 stores. 

No word on what the plan is to convince book buyers to return to Borders.

The Rise and Fall (and Re-Rise?) of Borders Group.

The Wall Street Journal is reporting that Borders Group may file for bankruptcy protection on Monday or Tuesday next week. The Ann Arbor-based bookseller has struggled in recent years as book buyers have migrated from big box stores to the web.

This could be a pivotal week for the future of Borders Books with some sources saying the company could seek bankruptcy protection.    

The Ann Arbor-based bookseller delayed payments to publishers and others the past two months.   The company has been trying to negotiate with its vendors and come up with a plan to move forward.    Borders has a half billion dollar financing deal in place, if it can come to terms with its vendors. 

Jeff Manning is a managing director with BDO Capitol Advisors.   Manning’s company closely follows the retail market. 

"The challenge,  if you look at the statistics,  majority of companies that enter bankruptcy do not emerge.  If you look at recent statistics with retailers, an awful lot of retailers have gone straight into liquidation." 

Manning expects Borders’ vendors will decide it’s more in their interest to keep Borders viable. He says, if Borders does file for bankruptcy, the company will probably exit bankruptcy before Christmas.   But Manning says Borders execs must be careful, since the bookseller is in a precarious position:

"One foot in the grave and one foot on a banana peel," says Manning.

The Rise and Fall (and Re-Rise?) of Borders Group.