Borders explores sale, suspends dividend
Borders explores sale, suspends dividend
(via biz.yahoo.com)
NEW YORK/ATLANTA (Reuters) - Book retailer Borders Group Inc (NYSE:BGP - News) on Thursday suspended its quarterly dividend and said it may sell itself, sending its shares down as much as 44 percent to a new low.
Turnaround situations seldom turn around
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Borders = No moat
I never understood the interest in Borders by Pershing Square and other value investors. This is a classic example of what happens when you invest in companies with no moat.