Alas, Borders sat back and watched. The corner office suits waited to see where the new technology would lead. Perhaps some of them were convinced an electronic reader was little more than a toy to amuse the techies and would go away shortly.
Rather than go away, e-readers have blossomed. Other firms developed their own technology to compete with the Kindle, most notably Apple with their iPad.
Yet where was Borders?
Sitting on the sideline with the rest of the wallflowers, waiting to be chosen.
With the big box book seller on the verge of bankruptcy, they're making a move. Chances are, they're too late to the party.
Introducing the Kobo, yours for only $99.00. So if you're considering an e-reader, you can have one at a lower price than anything else out there.
As for the millions who already purchased a Nook or a Kindle, well, there's no need to buy another e-reader. If a person hasn't bought their electronic device yet, it just might mean they're not interested in something other than a traditional book that they can lodge on a shelf forever.
The Kobo will not save Borders. It seems doubtful that new financing could make a significant difference over the long haul, and it isn't too likely that publishers already owed money by Borders would take up GE Capital's suggestion that they wait forever for payment so that equity shareholders won't take a hit in a corporate dissolution.
Borders jumped into the e-book swamp too late, and even if e-books don't totally destroy traditional publishing, there isn't a need for so many large bookstores in the world going forward.
The fittest survive. Borders let itself go.
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