Notes: Borders Directors Shuffled; Books Inc. Changes
As had been announced earlier this year (Shelf Awareness, April 16, 2009), Borders is replacing more of its board of directors, which will be effective at the September 17 board meeting. The moves solidify the control of Pershing Square Capital Management, the hedge fund that is Borders's single-largest shareholder. The outgoing directors are Don Campbell, Joel Cohen, Amy Lane, Brian Light and Larry Pollock. The new directors are:
- Paul J. Brown, president, global brands and commercial services, Hilton Hotels Corp.
- Ronald J. Floto, president, FLT International.
- Michael Grossman, CEO, Tempo Payments.
- Dan Rose, v-p, business development and monetization, Facebook.
- Timothy V. Wolf, chief integration officer, MillerCoors.
The new directors join board chairman Mick McGuire, Borders CEO Ron Marshall and lead independent director Mike Archbold.
Because of "the harsh realities" of the current economy, Books Inc., which has 11 stores in California, has restructured its main office and let go Barry Rossnick, senior trade buyer.
Books Inc. co-owner and CEO Michael Tucker called it "the hardest thing I've ever had to do running the company." He noted that since the beginning of the year wages were frozen and executives have taken weekly furloughs each quarter to avoid store-level layoffs. Books Inc. announced last week it is opening a 4,000-sq.-ft. store in Berkeley. Tucker said, "The last thing I thought I'd do this year is open another store, but the developer really wanted a bookstore and gave us what we needed to make it happen."
Rossnick may be reached at email@example.com.
Attention, shoppers. Supermarket chain Tesco "has unveiled its
'real readers' panel for its relaunched book club run with Random House
plus their book of the month choices," according to the Bookseller.com.
"The panel comprises five Tesco customers who won a competition to be
part of the initiative by suggesting a title for the book club. Their
review of their chosen book will be printed on the back cover of the
titles--a combined total of 20,000 copies--being made available across
Tainted by Brooke Morgan is the August choice. Upcoming picks are I See You Everywhere by Julia Glass for September, Some Other Eden by Natasha Farrant for October, The Jewel Box by Anna Davis for November and A Redbird Christmas by Fannie Flagg for December.
"As our research shows, many people are unsure of what to look out for when buying a new book," said Tesco commercial manager Hazel Powell. "The aim of the Tesco Book Club Real Readers Panel is to offer advice from customer to customer and encourage everyone to pick up a new type of book."
Book trailer of the day: Whiskey Gulf by Clyde Ford.
Headline of the week: "Is Google Books an Explorer, or a Conquistador?"--PC Magazine.