Borders Gets Some Deserved Attention

This column was originally published on RealMoney on Sept. 8 at 12:13 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.

You want to read research, research as it was meant to be? You want to see some value-added and catalyst-driven research? Check out Gary Balter's upgrade of Borders Group(BGP Quote) today. Credit Suisse's Balter recognizes risk vs. reward. More important, he's willing to make judgments about management.

He likes the new CEO, George Jones, a real merchant who cut his teeth at Target(TGT Quote), and he likes the fact that the turn still is ahead rather than behind.

Now, no doubt about it, Borders is a tough one to turn. Comparable sales are down, international business is bad and there 's not enough cash flow here to attract the leveraged-buyout types a la Michael's Stores(MIK Quote). ...