Today Apple sold its 10,000,000,000th (that’s billionth) song at the iTunes Store—all in less than 7 years. The music industry can gripe all it wants, but Apple has made them a lot of money they would otherwise have lost to file sharing!
Today’s Business Insider has this headline: Blockbuster Collapses: Shutting Down 500 Stores In Desperate Bid To Save $200 Million. I’m actually shocked they survived as long as they did. They ended last year almost $1,000,000,000 in debt.
By closing 500 of their weakest stores, they hope to reduce operating expenses by $200 million. They are also exploring other ways to increase liquidity and find new emerging distribution channels.
Let me offer them a touch of advice. Liquidate now and save everyone the misery to come.