Borders Group, Inc., national bookseller, filed for bankruptcy protection last Tuesday and is planning to close more than 200 stores nationwide “in the next few weeks.” Borders President Mile Edwards wrote in a written statement, the company “does not have the capital resources it needs to be a viable competitor.” Borders’ economic problems stem from not adapting to Web book popularity and hiring CEO’s with little book selling experience, said the Providence Journal.
Governor Chafee set March 8 as the day he will address the General Assembly with his first state budget.The budget’s focus will be on Rhode Island’s $295 million projected deficit.
Yippee! Fair weather expected for this weekend, beginning tomorrow. The Projo predicts 43 today, 51 on Thursday and it only improves on Friday. Unfortunately, the Projo offered no assurance that this was here to stay.