Kobo is said to have cut 63 jobs in their Toronto office, reported by Good eReader and the Toronto Star. The company said in a written statement: “To focus resources on innovation, partners, and readers, the leadership team has realigned the organization’s structure, which has also meant some staff reductions. As part of this change, teams have been restructured and optimized; redeploying employees to best use their skills to support the company’s core goal of providing the best global eReading experience.” The statement adds: “While these decisions are never easy, we believe that we have the structure that puts us in the best […]
Archives for April 2014
Amazon Growth Continues in First Quarter On Slim Margins, And Stock Declines
Amazon reported first quarter sales after the close of the market on Thursday, with sales of $19.74 billion (up 23 percent) and net income of $108 million, or 23 cents a share, both almost exactly in line with analysts’ expectations. Amazon’s stock rose by $13 a share Thursday in anticipation of the report, but the price has given back much more, down $32 a share and still falling, in early trading on Friday. (Amazon shares hit an all-time high of about $408 a share in January, but with the market rotating out of “momentum” and high-value tech stocks, it now […]
Hodder Purchase of Quercus Moves Forward
Hachette UK’s Hodder & Stoughton deal to acquire Quercus has become “unconditional,” which essentially finalizes the deal as it heads towards the formal closing. Quercus chief executive Mark Smith is leaving the company, but will serve as a consultant for an unspecified period of time. As noted in March, when H&S agreed to pay £12.6 million, Quercus will operate as its own division, under the supervision of Jamie Hodder-Williams. H&S reiterates that it will honor all written contracts, and a spokesperson tells us “all existing arrangements will remain in place,” including Quercus’s US-based business. Hodder-Williams comments in the announcement: “I […]
Authors, Etc.
The American Academy announced its 2014 class of new members, comprising 204 people from across the sciences, social sciences, humanities, arts, business, public affairs, and the nonprofit sector. In the literature section, they added Linda Gregerson, Amy Hempel, John Irving, Annie Proulx, Mary Jo Salter, and George Saunders. “Interclass” members include authors Adam Hochschild and Jill Lepore. The New York Public Library also announced its 2014-2015 class of Cullman Center Fellows, which include Pulitzer Prize winner Megan Marshall and Jon Lee Anderson for nonfiction; historians Deborah Coen, Kim Phillips-Fein, and Steven Pincus; and novelists Keith Gessen, Ayana Mathis, Jordi Puntí, and Justin Torres. In other […]
Apple Outperforms In Quiet Quarter
Apple reported better than expected results for their fiscal second quarter on Wednesday afternoon, for the period ending March 29. Traditionally their quietest quarter, they still grew both sales ($45.6 billion) and net profit ($10.2 billion) in what ceo Tim Cook called “our strongest non-holiday quarter ever.” In the areas we focus on, Apple sold 16.35 million iPads — for a total of 214 million iPads sold since launch in spring 2010. Cook reported on the conference call with investors, “we now have almost 800 million iTunes accounts, most of these with credit card; this is a staggering number.” Strong iPhone […]
World Book Night Day Is Here
World Book Night US reports that it has recruited more 29,000 givers to hand out 580,000 free books today. Aligned with Shakespeare’s birthday, this year’s efforts include distribution of thousands of free copies of Shakespeare’s Sonnets to be distributed at schools, and seats at four Broadway plays in New York. The third annual WBN US will distribute about 16 percent more paperbacks than last year, “primarily [through] outreach into underfunded public schools.” A number of author-led kickoff events were held last night around the country, noted on the WBN events map. Executive director Carl Lennertz says in the release: “Our […]