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Borders Group

Borders Group, Inc. was an international book and music retailer based in Ann Arbor, Michigan. In its final year, the company employed about 19,500 people throughout the U. S. in its Borders and Waldenbooks stores. At the beginning of 2010, the company operated 511 Borders superstores in the US; the company operated 175 stores in the Waldenbooks Specialty Retail segment, including Waldenbooks, Borders Express, Borders airport stores, Borders Outlet stores. In February 2011, Borders applied for Chapter 11 bankruptcy protection and began liquidating 226 of its stores in the United States. Despite a purchase offer from the private equity firm Najafi Companies, Borders was not able to find a buyer acceptable to its creditors before its July bidding deadline, so it began liquidating its remaining 399 retail outlets, with the last remaining stores closing their doors in September; the Chapter 11 case was converted to Chapter 7. Rival bookseller Barnes & Noble acquired Borders' trademarks and customer list.

By the end of December 2010, Borders employed an estimated 1,150 across its U. K. stores, which went into bankruptcy administration before the end of 2010. All stores were closed by December 31, 2010. Borders Group formerly operated stores in Australia, New Zealand, Singapore. However, these were sold off to Pacific Equity Partners in 2008 were sold again to REDgroup Retail; the stores continued to operate under the Borders brand as the unaffiliated "Borders Asia Pacific" until RedGroup was placed into voluntary administration in February 2011. The original Borders bookstore was located in Ann Arbor, where it was founded in 1971 by brothers Tom and Louis Borders during their undergraduate and graduate years at the University of Michigan; the first Borders bookshop opened at 209 South State Street, Ann Arbor in 1971. Wahr's had been a textbook and school-supplies vendor, but the brothers did not deal in textbooks, they moved the retail bookshop to much larger quarters that had become available across the street at 303 South State, in the former location of the Wagner and Son men's clothing store.

The old shop was renamed Charing Cross Bookshop and Tom Frick was sent over from the new bookshop to help. The downtown Ann Arbor store moved across the street again in 1994 to 612 East Liberty, at the southwest corner of Liberty and State Streets, in the building once occupied by the defunct Jacobson's Department Store. Although not the original location, it was identified as "Borders #1" because it was the flagship store. Former Hickory Farms president Robert F. DiRomualdo was hired in 1989 to expand the company; the Borders brothers' inventory system tailored each store's offerings to its community. A sister company, Book Inventory Systems, was founded to serve as a wholesaler for and provide the brothers' custom inventory system to regional independent bookstores such as John Rollins, Thackeray's, Schuler Books, Joseph-Beth Booksellers. Borders was acquired in 1992 by Kmart, which had acquired mall-based book chain Waldenbooks eight years earlier. Kmart had struggled with the book division, having first tinkered with the assortment and with discounting.

In the Borders acquisition, Kmart merged the two companies in hopes that the experienced Borders senior management could bail out floundering Waldenbooks. Instead, many of the Borders senior management team left the company, leaving behind an larger and more unwieldy division for Kmart executives to handle on the heels of aggressive expansions by rivals Barnes & Noble and Crown Books. Facing its own fiscal problems and intense pressure from stockholders, Kmart spun off Borders in a structured stock-purchase plan; the newly formed company was called Borders-Walden Group and, by the end of the same year, renamed Borders Group. In 1994, Borders operated a mall-based toy store called All Wound Up, which sold toys and novelty items. Most All Wound Up stores were seasonal kiosks in shopping malls. Borders was slated to open stores in Canada, starting with a 50,000-square-foot retail store in Toronto. However, this was rejected for failing to meet Canadian ownership regulations for book retailers. In 1997, the company established its first international store in Singapore, occupying 32,000 square feet in Wheelock Place, Orchard Road, the largest bookstore there.

It subsequently opened another 41 stores in Australia, New Zealand, the United Kingdom and bought 35 Books etc. stores throughout Britain from Philip and Richard Joseph. In 1998, Borders Ltd. was established as a Borders Group subsidiary and with its Borders and Books etc. After becoming one of the country's leading booksellers, due to the fierce competition in the UK marketplace, a number of the Books etc. stores closed, Borders Ltd. was sold in 2007 to a private-equity investor. In the third quarter of 2006, the Singapore store emerged as the best performing among the group's 559 outlets, with the highest revenue generated per square meter. At one point, the highest-grossing location in US territory was a remodeled and expanded store in Puerto Rico, generating $17 million in sales annually. On November 26, 2009, Borders Ltd was placed into administration, the equivalent to Chapter 11 bankruptcy protection in the US. At that time, the Borders bookshop chain in the UK started a closing down sale in all of its 45 stores.

On December 14, Borders UK announced it was going out of business. All UK stores

Sardis, Ohio

Sardis is a census-designated place in southeastern Lee Township, Monroe County, United States. It is unincorporated, but has a post office with the ZIP code of 43946; as of the 2010 census, it had a population of 559. Sardis is at the intersection of Ohio State Routes 255, lying between Duffy and Fly. Among the early settlers in this area was Major Earl Sproat, one of the 48 members of the Ohio Company; the Ohio Company founded Marietta, the first permanent settlement in the Northwest Territory in 1788. The village of Sardis was laid out by James Patton in 1843. Sardis shares a high school, River High Local School, in the Switzerland of Ohio school district, with other nearby and riverfront communities including: Antioch, Fly, Laings, Powhatan Point, Clarington. Sardis is located at 39°37′22″N 80°54′44″W. According to the United States Census Bureau, the CDP has a total area of 1.2 square miles, all of it land

Annual percentage rate

The term annual percentage rate of charge, corresponding sometimes to a nominal APR and sometimes to an effective APR, is the interest rate for a whole year, rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate; those terms have formal, legal definitions in some countries or legal jurisdictions, but in general: The nominal APR is the simple-interest rate. The effective APR is the fee+compound interest rate. In some areas, the annual percentage rate is the simplified counterpart to the effective interest rate that the borrower will pay on a loan. In many countries and jurisdictions, lenders are required to disclose the "cost" of borrowing in some standardized way as a form of consumer protection; the APR has been intended to make it easier to compare lenders and loan options. The nominal APR is calculated as: the rate, for a payment period, multiplied by the number of payment periods in a year. However, the exact legal definition of "effective APR", or EAR, can vary in each jurisdiction, depending on the type of fees included, such as participation fees, loan origination fees, monthly service charges, or late fees.

The effective APR has been called the "mathematically-true" interest rate for each year. The computation for the effective APR, as the fee + compound interest rate, can vary depending on whether the up-front fees, such as origination or participation fees, are added to the entire amount, or treated as a short-term loan due in the first payment; when start-up fees are paid as first payment, the balance due might accrue more interest, as being delayed by the extra payment period. There are at least three ways of computing effective annual percentage rate: by compounding the interest rate for each year, without considering fees; this loan is due in the first payment, the unpaid balance is amortized as a second long-term loan. The extra first payment is dedicated to paying origination fees and interest charges on that portion. For example, consider a $100 loan which must be repaid after one month, plus 5%, plus a $10 fee. If the fee is not considered, this loan has an effective APR of 80%. If the $10 fee were considered, the monthly interest increases by 10%, the effective APR becomes 435%.

Hence there are at least two possible "effective APRs": 80% and 435%. Laws vary as to. In the U. S. the calculation and disclosure of APR is governed by the Truth in Lending Act. In general, APR in the United States is expressed as the periodic interest rate times the number of compounding periods in a year; the APR must be disclosed to the borrower within 3 days of applying for a mortgage. This information is mailed to the borrower and the APR is found on the truth in lending disclosure statement, which includes an amortization schedule; the Truth in Lending Act of 1968 resulted in honest reporting of effective APRs for more than a decade. In the 1980s, auto makers began to exploit a loophole in the Act and its implementing regulations. Since the Act does not define "Finance Charge" or "Total Sale Price", auto makers found they could reduce Finance Charges and increase car price as much as they wanted, provided Total Sale Price was not changed. APRs calculated with the reduced, or eliminated, finance charge became the "below market rate" and "Zero percent APR' loans that were advertised for the next 30 years.

"Zero percent APR or $1,000 rebate" is the most common form of these deceptive loans. The "rebate" is the hidden finance charge, reclassified to car price. If the consumer doesn't accept the "zero percent loan," he or she does not accrue the extra $1,000 interest on that loan, this $1,000 is represented as a "rebate." In reality, there is no rebate and no "zero percent loan." Auto makers have been aided in this ongoing consumer deception by the regulators who administer TILA. The current form of disclosure under TILA seems designed to support the auto makers' deceptive scheme. Administration of TILA was transferred to the new Consumer Finance Protection Bureau which may give cause for hope of reform in the Act and its administration that will restore the consumer protections intended when TILA was enacted. On July 30, 2009, provisions of the Mortgage Disclosure Improvement Act of 2008 came into effect. A specific clause of this act refers directly to APR disclosure on mortgages, it states, if the final annual percentage rate APR is off by more than 0.125% from the initial GFE disclosure the lender must re-disclose and wait yet another three business days before closing on the transaction.

The calculation for "close-ended credit" can be found here. For a fixed-rate mortgage, the APR is thus equal to its internal rate of return under an assumption of zero prepayment

Frank L. Clarke

Francis L. "Frank" Clarke is an Australian business economist, Emeritus Professor of Accounting at University of Newcastle. He is best known for his 1997 publication of "Corporate collapse: Regulatory and ethical failure."Clarke received his BEc and his PhD, has been Professor of Accounting at University of Newcastle. After his retirement he was made Honorary Professor at the University of Sydney Business School. Clarke was former editor of Abacus, co-author of The Routledge Companion to Accounting History, the History of accounting: An international Encyclopedia. Clarke, Frank L. and Graeme W. Dean. Contributions of Limperg and Schmidt to the Replacement Cost Debate in the 1920s. Garlan, 1990. Clarke, F. L. Dean, G. W. Oliver, K. G. & Clarke, F. L.. Corporate collapse: Regulatory and ethical failure. Cambridge: Cambridge University Press. Articles, a selection: Clarke, Frank L. and Graeme W. Dean. "Schmidt's Betriebswirtschaft theory." Abacus 22.2: 65-102. Craig, Russell J. Frank L. Clarke, Joel H. Amernic.

"Scholarship in university business schools-Cardinal Newman, creeping corporatism and farewell to the “disturber of the peace”?." Accounting, Auditing & Accountability Journal 12.5: 510-524. Walker, R. G. Frank L. Clarke, G. W. Dean. "Reporting on the state of infrastructure by local government." Accounting, Auditing & Accountability Journal 12.4: 441-459. Walker, Robert G. Frank L. Clarke, Graeme W. Dean. "Options for infrastructure reporting." Abacus 36.2: 123-159. Dean, Graeme W. and Frank L. Clarke. "An evolving conceptual framework?." Abacus 39.3: 279-297. Frankk Clark at University of Sydney

Dance Dance Revolution DVD Game

Dance Dance Revolution DVD Game is a 2006 DVD-based game in the Dance Dance Revolution series hosted by Roxee, a member of the Australian children's entertainment property, The Funkees. It is unique from other DDR games for a number of reasons, it was the first DDR game not to be developed by the creators of Konami. The only other non-Konami-developed DDR game is the Disney Channel Edition. To date it remains the only game neither developed nor published by Konami and more it is the only game in the series which lacks input. Although several members of the Plug-n-Play subseries of DDR games featured simplified or smaller scale dance pads for children, the 2 dance pads which come bundled with Dance Dance Revolution DVD Game are scaled-back to the point where they no longer allow input to the game; the reason for this is that as a game intended for players of ages 5 and older, those players on the younger end of the spectrum could have technical difficulties in gameplay and, as such, input can be seen as akin to maladaptation.

Rather, the Dance Dance Revolution DVD Game instruction booklet sets up a subjective scoring system where 1-4 players vote on each other's dance moves and adherence to the rhythm. Dance Dance Revolution DVD Game features 30 unique songs referred to as Dance Sessions; as these songs are played the exuberant host and personal dance instructor, encourages players and exhorts them to keep up the good work. The energetic Roxee is a member of The Funkees. Dance Sessions featured are listed in the following table: Dance Dance Revolution DVD Game was released in 2006 for the North American market and in 2007 for the UK and Australian markets. Since its release, sales were lackluster despite earning the National Parenting Center's "Seal of Approval." GameSetWatch's Simon Carless anecdotally suggests that when a player learns that the game mat doesn't have any connection to the DVD player, "a little piece inside of him die." Kotaku's Brian Ashcraft emphatically denounced the product as "not a game." Due to its membership in Konami's Dance Dance Revolution series, however, it has been purchased by collectors and investors speculating on future collectible value.

Imagination Games Dance Dance Revolution Dance Dance Revolution DVD Game product page The Funkees homepage

Jay Williams (basketball)

Jason David Williams is an American former basketball player and current television analyst. He played college basketball for the Duke Blue Devils men's basketball team and professionally for the Chicago Bulls in the NBA, he is the father of one daughter -- Amelia. Known as Jason Williams, he won the 2001 NCAA Championship with Duke, was named NABC Player of the Year in 2001 and 2002, he was drafted second overall in the 2002 NBA Draft by the Bulls. He asked to be called Jay on joining the Bulls, to avoid confusion with two other players in the NBA at the time, his playing career was ended by a motorcycle accident in 2003. He last signed with the Austin Toros of the NBA Development League, but was waived on December 30, 2006 due to lingering physical effects from his accident. Since retiring, he has worked as an analyst for ESPN. In 2019, Williams was re-assigned to the NBA full-time with his addition on ESPN's NBA Countdown program. Williams grew up in Plainfield, New Jersey, attended St. Joseph High School in Metuchen, graduating in 1999.

He not only excelled at basketball, but took an active interest in other activities, most notably chess. His nickname in high school was "Jay Dubs." Williams played junior varsity soccer during his freshman year and was the state volleyball player of the year during his senior year. In basketball that year, Williams was named a First Team All-State Player in New Jersey, the New Jersey Player of the Year, a Parade All-American, a USA Today first team All-American, a McDonald's All-American, where he competed in the Slam Dunk Contest and the McDonald's All-American Game, scoring 20 points in the contest. In his last year of high school he averaged 19 points, 7.0 assists, 4.2 rebounds and 3.7 steals per game. He was named the recipient of the 1999 Morgan Wootten Award for his basketball achievements and his work in the classroom, where he maintained a 3.6 GPA. At Duke, Williams, a 6-foot-2-inch, 195-pound point guard, became one of the few freshmen in school history to average double figures in scoring and was named ACC Rookie of the Year and National Freshman of the Year by The Sporting News, averaging 14.5 points, 6.5 assists and 4.2 rebounds per contest.

He was a first team Freshman All-American by Basketball Times. The next season Williams started all 39 games and led the Devils to the 2001 NCAA National Championship, earning NABC Player of the Year honors, his 841 points broke Dick Groat's 49-year Duke record for points in a season, while he led all tournament scorers with a 25.7 ppg average. Williams set the NCAA Tournament record for three-pointers attempted, while making 132 three-point field goals—good for the sixth-highest total in NCAA history, his 21.6 ppg led the ACC and made him the first Duke player since Danny Ferry to lead the league in scoring. His 6.1 assists were good for second in the league, while he ranked second in three-point field goal percentage and first in three-pointers made. Williams was considered the best player in college basketball, earning both the prestigious Naismith Award and Wooden Award as College Basketball's Player of the Year in 2002, he graduated with a degree in Sociology in 2002, left Duke with 2,079 points, good for sixth all-time, with his jersey number 22 retired at Senior Day.

He had 36 double-figure scoring games in a single season. In 2001–02, Carlos Boozer, Mike Dunleavy Jr. each scored at least 600 points for the season, a feat only matched at Duke by Jon Scheyer, Kyle Singler, Nolan Smith in the 2009–10 season. Williams and Shane Battier on the 2001 national championship team were one of only two Duke duos to each score over 700 points in a season, the other duo being Scheyer and Singler in the 2009–10 season. Williams was selected by the Chicago Bulls with the second overall pick in the 2002 NBA draft, after Yao Ming was selected by the Houston Rockets, he played for the US national team in the 2002 FIBA World Championship. Williams was a starter in the Bulls' line-up for most of the 2002–03 NBA season. Although his performance was inconsistent and he competed for playing time with Jamal Crawford, he showed signs of promise including posting a triple-double in a win over his homestate team, the New Jersey Nets. On the night of June 19, 2003, Williams crashed his Yamaha YZF-R6 motorcycle into a streetlight at the intersection of Belmont and Honore streets in Chicago's Roscoe Village neighborhood.

Williams was not wearing a helmet, was not licensed to ride a motorcycle in Illinois, was violating the terms of his Bulls contract by riding a motorcycle. Williams' injuries included a severed main nerve in his leg, fractured pelvis and three dislocated ligaments in his left knee including the ACL, he required physical therapy to regain the use of his leg. A week after the motorcycle crash; when it became clear Williams would not be returning to the Bulls for a long time, if at all, because of his injuries, he was waived. The Bulls did not have to pay him any salary, because his injuries occurred while he was violating his contract by riding a motorcycle. Instead, the Bulls gave Williams $3 million when they waived him, which Williams could use toward future rehabilitation expenses. Williams stated at the time that he would continue to train and intended to make a return to the Bulls, but in his 2016 memoir, he mentioned that a lot of the Bulls' sever