The Washington Post has a front page article this morning about the financial difficulties faced by the megabookstore chain Borders. They have evidently been unable to keep up with Kindles and Amazon.
The one tear to be shed is for the fact that Borders' impending doom will further constrict the market. Of course, this invites the old adage, what goes around, comes around. Borders and Barnes & Noble put hundreds of small, independent bookstores out of business in the past 20 years. In the process, they also radically distorted the publishing industry. The practice of highlighting certain books and leaving the rest as window dressing has resulted in the fact that publishers must hoard their cash to give the likes of Sarah Palin and Bill Clinton, Snooki and Donald Trump huge advances while people who write serious books are reduced to coolie wages.