The recent bankruptcy of the Borders Books chain is a clear example of how corporate interests are destroying the US economy. The convoluted history of how Borders books ended up acquired by Kmart, which had already acquired Waldenbooks, and how Borders/Waldenbooks were "spun-off" on their own, resulted in the new management closing down many of Waldenbooks stores. Now Borders itself is in trouble with questions being raised about it's survival.
The problem here isn't the stupidity of the Borders management. Remember how Barnes & Noble destroyed the B. Dalton book stores. In both cases allowing corporate interests to do as they will, resulted in failed stores, unemployed workers, and less choice for consumers.
Thursday, February 17, 2011
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