Bankruptcy: Borders' penalty for being a step slow

NEW YORK (AP) - Borders was slow to get the message as the big-box retailer lost book, music and video sales to the Internet and other competition. The result: It filed for bankruptcy protection Wednesday, and will close nearly a third of its stores.

Less nimble than rival Barnes & Noble, Borders now begins what analysts expect will be a quickly resolved struggle for the survival of its remaining stores. It's the latest cautionary tale about the dangers retailers face when they fail to keep up with swiftly changing technology and consumer habits.