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...stores," says company spokeswoman Anne Roman. "Our new leadership recognizes our challenges, admits that we have made mistakes, and is focused on getting our financial house in order as an immediate priority." Borders stock has flirted with a New York Stock Exchange delisting; it closed at 52 cents per share on Jan. 27, a 95% drop over last year. "They're in survival mode," says Davidowitz. But how can the company stay afloat when the economy has turned against the whole industry (even Barnes & Noble is struggling), and when big boxes like Walmart and Target are moving into the book...
...company has reported just one profitable quarter over the past two years. The third quarter of 2008 was devastating: Pier 1 lost $36.9 million, or 41 cents per share, on $300.9 million in revenue. That loss far exceeded analysts' expectation of 26 cents per share. Chukumba says Pier 1 CEO Alex Smith has made some smart moves, like stocking shelves with small items, which consumers are more likely to buy on impulse. "Unfortunately, the macro economic environment more than overshadows that," he says...
...scaling back their event spending, the pinch isn't being felt by NBC, this year's broadcaster. While veterans like FedEx and General Motors are sitting out this year, the network says it has sold 90% of its advertising inventory, at a record average price of $2.9 million per 30-second spot. Which means that, in the end, the game will probably continue to be eclipsed by the commerce, if not the parties, built around it. (See pictures of the Giants' stunning Super Bowl victory last year...
...beginning to put ourselves on track for worst-case scenarios. He noted a sobering new paper published Jan. 27 in the Proceedings of the National Academy of Sciences, which indicated that even if we managed to stabilize carbon concentration levels in the atmosphere between 450 and 600 parts per million, up from 385 p.p.m. today - a target that would be politically challenging - we would still suffer rising sea levels, worsened droughts and more, for centuries to come. "The scientists are practically screaming from the rooftops," said Gore. (See the top 10 green ideas...
...square foot earlier this month beat out those of three other prospective owners, including Unofficial Tours LLC, which was founded by Harvard students; Canada-based Gateway Newsstands; and Kallol Barua, the current general manager of the building. Unofficial Tours had the runner-up offer at $136 per square foot...