60 Minutes aired a report Sunday night on Greg Mortenson, author of the bestselling THREE CUPS OF TEA, questioning “whether some of the most dramatic stories in his books are even true” and raising “serious questions about how millions of dollars have been spent” by the charity he set up and “whether Mortenson is personally benefiting.” The most direct accuser was author Jon Krakauer, who says of the tale in the book about how Mortenson was inspired to build schools in Afghanistan and Pakistan, “It’s a beautiful story, and it’s a lie.” Mortenson’s central storyline is that he “stumbled into” […]
Archives for April 2011
People, Etc.: Joseph-Beth Auction Looms
The bankruptcy auction of the five remaining Joseph-Beth bookstores and their inventory will be held this Wednesday morning in Cincinnati. So far, the Lexington Herald-Leader reports, co-founder Neil Van Uum is the only known bidder, but one of the lawyers conducting the auction, Ellen Arvin Kennedy, says “we are very optimistic that we will have several bidders who will want to purchase the stores and operate them as they are operating now.” Initial confidential bids, for all or part of the company, are due today. Liquidators are expected to make low bids as well. Van Uum tells the paper, “I’ve […]
Creditors Support Revised Borders Bonuses But Judge Wants Changes; Recovery Prospects Are Low
US Bankruptcy Judge Martin Glenn wants further revisions in Borders proposed executive bonus plan, even though the creditors committee supported a revised proposal that would reward the top five executives based on how much money they recover for creditors and dependent on whether the company either reorganizes or is sold by August 15. The new version of the plan would give those five employees up to $4.9 million if the unsecured creditors receive more than $95 million, and up to $1.8 million if the the recovery is $73 million or more. More interesting than the maneuverings is what those ranges […]
eNews: ABC Launches Video eBooks; Staples Stocks Nook Color; Kindle DX Price Drop; Disappointment with Blackberry Playbook; and More
Talk about burying the lead. Hyperion had announced the release of Jane Green’s enhanced ebook, A Modern Fairy Tale: William, Kate, and Three Generations of Royal Love but didn’t underscore what looks to be the interesting business news. Their corporate television partner is participating in a line of ABC Video Books, and has launched their own video bookstore app for the iOS to sell those ebooks directly, using Apple’s in-app purchasing program. The ebook line, which also includes THE AMANDA KNOX STORY: A Murder in Perugia, is available through other major etailers as well. ABC says the ebooks “will draw […]
People: Shannon Takes New Digital Role at RH, and More
Ballantine Bantam Dell mass market publisher Scott Shannon is changing roles in a clear sign of where the market is headed. He is taking on the new position of svp, publisher, Digital Content for the Random House Publishing Group, though on the print side he will remain as publisher of Del Rey/Spectra. Shannon will report directly to Gina Centrello in his new role, and director of digital marketing strategy and product development Matt Schwartz will now report to Shannon. Publisher of Ballantine Bantam Dell Libby McGuire will take over leadership of the mass-market list, and associate publisher for mass market, […]
eBook Sales Set Another Record, But Can’t Outpace the Decline in Print
eBooks indisputably comprise a significant portion of trade revenues following the Christmas boom in ereading-capable devices, confirmed by another record ebook sales tally from among the 14 publishers who report. The AAP data also shows what publishers’ net shipments look like in a world in which no one is sending books to Borders. February ebook sales totaled $90.3 million, significantly ahead of the record $69.9 million reported the previous month. In January ebooks were the second-largest trade segment, behind trade paperbacks, but in February they moved ahead as the single largest-selling format (with trade paperbacks at $81.2 million). Just as […]