Morris Gad Praises Charitable Contributions Made after Auction of Final Borders Sign

NEW YORK, Feb. 25, 2013 /PRNewswire-iReach/ -- According to Morris Gad, businesses can do much to support the work of worthy charitable organizations and humanitarian causes—even when those businesses happen to be on their last legs. To illustrate this point, Gad points to a recent news item from The Huffington Post, which notes that the once-mighty Borders has taken down its final store sign—and then sold the letters from that sign, with all proceeds going toward charity. Morris Gad has issued a new statement to the press, opining on Borders' actions.

"Borders is showing how something that seems worthless to one might turn out to be of tremendous value to another," remarks Gad, in his press statement. "It is very inspiring to consider that, after all that has happened with the Borders retail store, they still have time to think about others."

Morris Gad is currently the acting CEO and president of Diamonds International, the largest diamond and gemstone retail company in the world. He is best known for his commitment to philanthropy, however, and for his role in spearheading corporate charitable giving, as well as personal acts of charity.

According to The Huffington Post, Borders removed the final sign from its flagship store in Ann Arbor, Michigan, and the owners of the building promptly announced their intentions to donate the letters to charitable causes. In particular, some of the large Plexiglas and metal letters, used to spell out "Borders Books & Music," were put up for grabs on eBay, with all proceeds going to the Book Industry Charitable Foundation. The Book Industry Charitable Foundation is also based in the Ann Arbor area.

In fact, the charity was founded by many employees, executives, and former staff members of Borders Group, Inc. The charitable organization was developed "to help fellow Borders employees in need," and now seeks to support and strengthen the bookselling industry more broadly. The Book Industry Charitable Foundation facilitates programs meant to provide financial support to book industry employees.

Each letter from the Borders sign was auctioned off individually, and fetched different amounts. The Borders retail brand spent the last several years battling financial woes, before ultimately closing its doors and gradually phasing out its brick and mortar locations across the country.

Morris Gad's own philanthropic efforts encompass a wide range of causes, including not only children's organizations but also cancer research initiatives. Morris Gad is an outspoken advocate of personal and corporate philanthropy.

ABOUT:

Morris Gad is the acting CEO and president of the largest diamond and gemstone retail company in the world, Diamonds International. Based in New York City, this retailer has established locations in Mexico, the Caribbean, and even Alaska. Above and beyond his professional initiatives, Morris Gad contributes a lot of his time to philanthropic causes. In fact, Morris Gad has donated personal financial and other resources to various charitable organizations around the world, and he makes sure that Diamonds International gives back to the communities and individuals that support its success by also contributing to charitable causes.

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SOURCE Morris Gad