February 8, 2010
Catherine Deshayes The Move Channel Banks could hold the key to what will happen with Bulgaria’s depressed real estate sector in 2010, it is claimed. There are concerns that if they decide to start selling foreclosed properties this will lead to prices
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January 26, 2010
By Mark Clothier Jan. 26 (Bloomberg) — Borders Group Inc. , the money-losing U.S. bookstore chain, said Ron Marshall resigned as president, chief executive officer and a director of the company, after a little more than a year on the job. Marshall, who joined Borders in January 2009, is leaving to run another publicly held retailer, Borders said, without identifying the company. Michael J. Edwards , the chief merchandising officer who joined the company in September, will act as interim CEO, Borders said in a statement today. The board hired Korn/Ferry International to help find a permanent CEO. The retailer, which last reported an annual profit in 2006, has seen revenue drop for the past three years as consumers spent less on books and non-essential items amid declining home values and rising unemployment . Marshall, seeking to stem those declines, said last month the Ann Arbor, Michigan-based retailer will start selling digital books this year. Borders fell 1 cent to $1.09 yesterday in New York Stock Exchange composite trading. The shares , which almost tripled in 2009, have dropped 7.6 percent this year. To contact the reporter on this story: Mark Clothier in Atlanta at mclothier@bloomberg.net
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