Joel Sheldon, owner of two Vroman’s bookstores in Pasadena and Book Soup in Los Angeles, announced Thursday that he plans to sell the store. Almost 80 years old, Sheldon wrote on Twitter, “It’s time to begin the process of retiring and finding new ownership outside of the Sheldon family,” which has been the “steward” of the stores for over 100 years. He added, “Vroman’s deserves new ownership with the vision, energy, and commitment necessary to take it successfully into the future.” Sheldon promises, “We will take the time needed to find the right new ownership — someone who shares our […]
Tattered Cover Files Reorganization Plan, with Higher Debts Than Originally Declared
Following their first filing for voluntary bankruptcy in mid-October, the owners of Tattered Cover filed a reorganization plan with the US Bankruptcy Court for the District of Colorado earlier this week. While the store group initially said it lost about $660,000 during the year last year and owed at least $1.375 million to publishers and Colorado’s Office of the State Auditor for abandoned gift cards, the new documents depict a more severe situation. As of the initial filing in October, they had secured debt of approximately $820,000, and unsecured claims of just over $3.2 million. In the previous year, 2022, […]
Appeals Court Agrees that Texas READER Law Violates First Amendment
In a unanimous verdict, a three-judge panel on the Federal Court of Appeals for the Fifth Circuit upheld District Court Judge Alan D. Albright’s clear and comprehensive ruling that Texas’s READER Act, a book banning law, is unconstitutional. The ruling and preliminary injunction blocking implementation of the law, which had been stayed pending the appeal, can now go forward, as the Appeals Court denied the state’s motion for stay pending further appeal. The case is a clear loser for Texas, and the Appeals Court barely breaks a sweat in rejecting all of the state’s fanciful arguments otherwise: “The question presented […]
AAP Joins In New “Fairly Trained” Nonprofit
Fairly Trained is a newly-launched nonprofit that “certifies generative AI companies for training data practices that respect creators’ rights.” Their first certification — denoting licensed models — is awarded to “any generative AI model that doesn’t use any copyrighted work without a license.” to begin with, they have certified nine companies, most of which involve generative AI music. The venture is supported by a number of music industry groups — Universal Music Group, the Association of Independent Music Publishers, Concord, and Pro Sound Effects — but also the Association of American Publishers. And AAP ceo Maria Pallante is among the advisers […]
Malaviya Highlights Company “Action Items”
In a note welcoming employees back from the holidays, Penguin Random House ceo Nihar Malaviya shared three “company-wide action areas” that management has decided to focus on based on the 2023 employee survey. One focus will be on company strategy, in order to “create greater clarity about the global strategy by increasing the frequency of both local and global strategy communications.” Another item is “psychological safety—emphasis on feedback culture.” He writes that they will “continue to work on creating an inclusive and psychologically safe environment for employees at every level, one that fosters the free exchange of feedback, ideas, and […]
Obituary: Mihai Radulescu
Mihai Radulescu, 82, died of cancer on January 6. Husband of literary agent Marly Rusoff for 39 years, Radulescu worked alongside her at Marly Rusoff & Associates as director of foreign rights and CFO. Along with Rusoff he was also a founding board member and webmaster at The Pat Conroy Literary Center in Beaufort, SC. Memorial gifts would be gratefully received in Mihai’s name by the Pat Conroy Literary Center.