Today Barnes & Noble is opening for their business their previously-announced PubIt! program, allowing individual authors, self-publishers and small publishers to upload their ebooks for direct sale through Nook/BN. In the press release, they underscore that their program has “clear and competitive terms — and no hidden fees.” BN is offering a royalty/revenue share of 65 percent of list price for titles between $9.99 and $2.99 (slightly lower than Amazon on the surface, though there are no “delivery” charges, no surcharges based on file size, and no provision that BN can lower the price and pay royalty on that basis). […]
Bookstores
People, Etc.
The Great Lakes Independent Booksellers Association has hired Deborah Leonard as their new executive director, taking over from Jim Dana, who is retiring (and plans to work for the Peace Corps in Lesotho). Leonard was most recently a sales manager at Cengage Learning, and started her publishing career as a bookseller in Nashville, TN for ZIbart’s. Penguin UK digital publisher Jeremy Ettinghausen is leaving, to become a creative director at the advertising agency BBH. This year’s Macy’s Thanksgiving Day parade will include a Diary of a Wimpy Kid balloon. Copyright Clearance Center has expanded its European presence and opened a […]
Borders Delays Their Vote Until Tomorrow
At the last minute Borders has postponed the special shareholders meeting that was set for today in Ann Arbor until the end of day tomorrow. They say “while support for the proposals contained in the proxy statement has been strong, there are a significant number of shareholders who have not yet had the opportunity to vote and we want to give them time to consider the proposals and vote.” The ballot essentially gives shareholders the “option” of giving Bennett LeBow a massive option package–or else he gets “stock appreciation rights” that pay him anyway if the stock moves above the […]
For Barnes & Noble, the Vote Is Over But the Potential Sale Is Just Beginning
The Barnes & Noble proxy fight is over but the more significant drama–will the chain be sold or restructured–will continue for what could be months. Press accounts generally concur with a NYT report from over a week ago indicating that about 20 parties have at least expressed interest in looking at the company’s books. Most are thought to be private equity players, but there are “some strategic” companies looking as well, according to the WSJ. Sources tell the Times that preliminary bids are due in October, though reelected chairman Len Riggio says he hopes the process will be completed “within […]
Powell’s Readies New Space for their Technical Books
As previously announced, Powell’s closed their Technical Books store on Sunday. They are in the midst of moving the inventory into a new space across from the main City of Books store in Powell’s Books Building 2. The new store is set to open October 1. President Emily Powell comments in their announcement, “Our goal was to bring technical books closer to the millions of visitors at the City of Books and to connect that inventory to our main store location. We hope this offers a better shopping experience for our customers.”
Riggio Re-Elected to Barnes & Noble Board; Yucaipa Poison Pill Amendment Defeated
It was a melancholy hometown crowd of about 250 Barnes & Noble shareholders and employees who filled the auditorium at the Asia Society this morning for the company’s annual meeting, but when the proxy election results were announced the room erupted in applause. Chairman Len Riggio and the company’s other nominees won election to the board, and Yucaipa’s effort to amend Barnes & Noble’s poison pill was also defeated. Riggio declared, “this has not been an easy four or five months…but this has been a very great day.” Earlier in the meeting, in a brief moment of personal reflection, Riggio […]