Today Goldman analysts downgraded B&N stock from Neutral to Sell and cut the stock price target from $15 to $13, saying that “following management’s recent proxy victory we believe a transaction is less likely.” Yesterday, however, Channel Trend Inc. went the other way, upgrading company stock from Unfavorable to Neutral. The share price dropped to $15.87 and is currently down in pre-market trading.Street Insider
Archives for October 2010
Borders News: Corporate Headquarters For Sale; Hires Back Popoff, Reassigns Some Executives
The Ann Arbor, Michigan building which houses Borders‘ corporate headquarters is for sale, listed by owner Agree Realty for $18.349 million (or approximately $40/square foot.) Borders still has 12 years remaining on its lease, though the company has started subleasing some of its rented space. According to filings, 27 percent of Agree’s $34 million in rental income (approximately $9.26 million) comes from 17 leases to Borders. Local real estate experts told AnnArbor.com that that the listing of the Borders headquarters “appears to be a step toward diversifying a real estate portfolio that’s heavy on three major tenants.” And spokeswoman Mary […]
Open Road and Cursor Announce Lists, and More Imprint News
Open Road has announced four titles that they will publish this fall as ebook originals: Jonathon King’s MIDNIGHT GUARDIANS, the sixth book in his Edgar Award- winning Max Freeman mystery series (along with ebook versions of the first five Freeman mysteries and two standalone novels)Mary Glickman’s first novel, HOME IN THE MORNINGGenre veteran Alan Dean Foster’s memoir PREDATORS I HAVE KNOWNEntertainment journalist Jo Piazza’s CELEBRITY INC. With world rights to all the titles, publisher Brendan Cahill will represent publishing rights at the Frankfurt Book Fair, with co-founder Jeff Sharp representing film/TV rights. Separately, Richard Nash‘s long-discussed start-up Cursor may actually […]
Awards and Announcements: More Nobel Speculation; 5 Under 35; Giller Prize Shortlist; And More
With two more days until the Nobel Prize for Literature’s announcement, Kenyan author Ngugi wa Thiong’o has emerged as the front-runner, with Ladbrokes noting odds have been slashed from 75-1 to 11/4. Cormac McCarthy is the 2nd favorite at 3-1.Guardian The National Book Foundation’s “5 Under 35” list for this year includes: Sarah Braunstein, The Sweet Relief of Missing Children (W.W. Norton & Co., 2011)Grace Krilanovich, The Orange Eats Creeps (Two Dollar Radio, 2010) Téa Obreht, The Tiger’s Wife (Random House, 2011) Tiphanie Yanique, How to Escape from a Leper Colony (Graywolf, 2010) Paul Yoon, Once the Shore (Sarabande, 2009) […]
Frankfurt Exhibitor and Agent Numbers Rise
When Book Fair officials indicated in September that the total number of exhibitors for this year’s convention was likely to fall by about 5 percent a European wire started played up the “decline” as a digital casualty. But at today’s opening press conference, the Fair said that total exhibitors are actually up, at 7,533, a three percent increase over last year. But that number isn’t particularly meaningful since, as in previous years, the full fair will comprise the exact same amount of exhibition space. “Strong demand” for tables in the Literary Agents Center (and the volcanically-quiet London Book Fair this […]
Pre-Frankfurt Analysis: Where the Deals, and Aren’t
With the Frankfurt Book Fair officially opening on Wednesday (and dealmaking already underway at the Frankfurter Hof), “mood”-watchers like the Guardian are already proclaiming last year’s recession-induced “austerity” over. Publisher of Harper UK’s Blue Door Patrick Janson Smith says, “People have short memories. It was instant panic last year but now it’s back to business.” But the schedule has also affected the key pre-Frankfurt selling season. With a late Labor Day followed quickly by the Jewish holidays and an earlier-than-usual Frankfurt itself, there have been barely a few “shopping weeks” prior to this year’s fair. We decided to look past […]