As expected, financially challenged Borders Group Inc. Feb. 16 filed for bankruptcy protection, securing $505 million in debtor-in-possession financing commitments to continue operations. Ann Arbor, Mich.-based Borders filed the Chapter 11 motion with the U.S. Bankruptcy Court in New York, citing $100 million to $500 million in liabilities. It said it would begin shuttering upwards of 30% of its underperforming stores in the coming weeks, among other cost reductions.
Ann Arbor, Mich.
Home entertainment heavyweights Netflix and Blockbuster both ranked among the top 40 e-commerce websites through the winter holidays, according to a recent study. Netflix, which was one of the dominant news makers in 2010, rated on par with Amazon among consumers as the best e-commerce sites, according to Ann Arbor, Mich.-based research firm ForeSee Results.
No one with a kid in the house these days gets away with being anything less than environmentally aware. Mark Bishar, vice president of marketing at Big George's Home Appliance Mart, Ann Arbor, Mich., has two kids at home and is already feeling eco-pressure.
The custom-built speaker manufacturer Leon Speakers said this week that it has moved into a new facility in Ann Arbor, Mich. The move, which both consolidates the company’s operations and brings them into a bigger space, took place this week. “We are poised to ramp up our operations to meet the growing demand for custom home audio,” the company’s president and co-founder, Noah Kaplan, said as part of the announcement. He added that Leon Speakers plans to add multiple new designers in the 18 months, with an eye towards further expanding products. The facility, according to the company, features newly remodeled offices,
Hueberger Leaves PRO, Workman Moves in PRO Group President/COO/Executive Director Roger Hueberger announces that he will be leaving the buying group after serving for 11 years. According to the PRO Group and Hueberger, a failure to come to agreeable terms on a new contract was cited as the reason for his departure. “I loved my 11 years at PRO, but both parties couldn’t agree on terms,” says Hueberger, noting that talks over his contract have been rocky for several months. “This wasn’t a big surprise; this started last summer.” Hueberger was made director of PRO Group in 1994, and in 1996 was promoted to chief operating officer.
Ovation Audio/Video's Active Role in High Definition Programming By David Dritsas High definition won't sell itself. While many a consumer has stood gazing longingly at an HDTV set on a retail sales floor, many know that it's not worth it until there is abundant programming. But Indianapolis-based Ovation Audio/Video Specialists took an active role in creating its HD market rather than waiting for it to come to them. "We try to stay in the forefront of high definition television, and I think it's paid off," said Gary McCormick, founder and president of Ovation Audio/Video Specialists. "We definitely are known as a place to get