Jun 7, 2010
My own worst enemy.
I went ahead and did it. Even after all my big talk about the sanctity of the written word on paper. I bought an e-reader. I'm a sucker for a bargain and woot.com had refurbished Sony E-Readers at a price I couldn't resist. I have to say, I actually kind of like it. I bought two ebooks and am about a quarter of the way through the first book. I like that the other book is sitting in my reader's memory patiently waiting for me to get to it. My written books on the other hand sit on the shelf looking at me accusingly, wondering when I will get to them. Wait til they see me with the new ereader. I'm never going to hear the end of it.
I've come to find out that my purchase has sounded the death knell for book stores the world over. Including the behemoth Border's Books. This is not a good thing. Besides the fact that I love Borders, I have a personal interest in its survival. Albeit a small interest.
I convinced my husband a few months ago to let me play around a little bit with the stock market. He agreed, while making it clear he thought it was more like gambling than investing. I said that's OK. I'm a gambler. I bought a miniscule number of two stocks.
The first is Activision, game company responsible for Guitar Hero, Modern Warfare and World of Warcraft. How could this go wrong? Not long after my investment the developers of one of their most popular games walked out and they are now embroiled in a nasty court battle over royalties. Strike one.
The second stock I bought is Borders. The price dropped to record lows so I figured it was one of those opportunities to buy low and sell high. The stock initally increased but has since plummeted to even lower record lows. Not much room left until rock bottom. Lots of reasons why, financing, getting too big too fast, etc. I also read that the rapid increase in the number of ebooks is doing quite a bit of damage to book sellers. Damn, I'm at cross purposes again. I have to rethink my idea about selling stacks and stacks of my books on half.com. I don't think Borders can take anymore pressure.