
Reader's Digest plans to file for bankruptcy - jacquesm
http://www.reuters.com/article/ousiv/idUSTRE57G37B20090817
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inaka
if only there was a summary of this article edited for brevity and targeted at
a 7th grade reading level, for a mostly retired middle class audience.

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gorm
It's too much debt out there.

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ars
The comment is a joke on how Readers Digest edits stories.

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grellas
Off the top of my head, a few mainstay items of Americana that have fallen
victim to technological advances:

Western Union (oh, the days of the telegram) / Polaroid (miss that Instamatic)
/ TV Guide (can't wait for my weekly issue to know what's on TV) / Reader's
Digest (popularized reading fare)

These seemed like "forever" companies when I was growing up and are now either
dead or are ghosts of their old selves hanging around with just enough
presence to haunt us with their reminders of what used to be.

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maurycy
Good for all grandmas, like mine, being constantly spammed by them.

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theorique
i am jack's complete lack of surprise

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andreyf
What's a Reader's Digest?

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jacquesm
They were pretty big in their time, the fact that they're going belly up is a
good indication that the writing is really on the wall for publishers.

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bliving
Not going belly-up. They are just re-structuring debt using the bankruptcy
process.

Still, not a good-thing.

~~~
jacquesm
It looks like the lenders are going to be the new owners, that's as much as
going belly up and selling the assets to the debt holders. 'restructuring' is
just to put a pretty face on it.

They seem to be losing money hand over fist, and I wonder if they're going to
'restructure' what it is that they plan to do to stop the drain and become
profitable post-restructuring. Without a really good plan it is just a
postponement of the inevitable.

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alaskamiller
Clearly dentists and doctors offices aren't a viable market.

