People in book publishing are accustomed to trading a relatively flat market for a relatively stable financial environment, in good times and bad. But 2015 saw two dramatic financial changes that will clearly carry over into 2016. Everyone knows the price of oil fell substantially last year, but another timeless investment did even worse: the stock of Pearson, the international educational publishing giant (and still owner of 47 percent of Penguin Random House). Since announcing a small drop in sales and modestly reduced earnings expectations in October investors, have abandoned Pearson’s shares. Down 42 percent in 2015, the company shed $6.4 […]
