tag:blogger.com,1999:blog-529575095156315075.post3970997176485510824..comments2024-02-09T12:12:37.636-08:00Comments on best minimum wage job a middle aged guy ever had: More books for the rest of us...Duncan McGearyhttp://www.blogger.com/profile/02857388833850939721noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-529575095156315075.post-84663873998143987652011-02-10T13:58:01.300-08:002011-02-10T13:58:01.300-08:00I don't know that I've changed my mind tha...I don't know that I've changed my mind that much.<br /><br />It doesn't take much to add to the flood of books.<br /><br />I know that when you first open as a used bookstore, people seem to want to know that you'll be there awhile.<br /><br />I think as long as you give everyone plenty of time -- months, they feel they've been treated fairly.<br /><br />Much credit isn't used -- nor do I think the holders expect to use it...Duncan McGearyhttps://www.blogger.com/profile/02857388833850939721noreply@blogger.comtag:blogger.com,1999:blog-529575095156315075.post-13740079527263380232011-02-10T13:12:08.034-08:002011-02-10T13:12:08.034-08:00So you appear to have gone from a view that ebook ...So you appear to have gone from a view that ebook readers will not have a sizeable impact for many years, to one of dramatic impact upon not only the new book market but the used book market as well.<br /><br />The interesting thing about the trade in for half credit model is that if you had to use the same accounting rules that a public compant had to, instead of a cash flow model, you would probably never show a profit, because of the build up in the liability of credits on the books. It is really the secret of that business model. A lot of the credits will never be used. I suspect if you total the dollar value of unused but outstanding credits it will show an increasing value that can grow to be rather substantial. Makes for an interesting question of what happens if/when the business is ever shutdown. Do the people that have credits, but have never exercised them have a potential claim? Hopefully businesses that use that model have some kind of a written policy for just that situation.RDChttps://www.blogger.com/profile/13033979029490801023noreply@blogger.com