With substantially-reduced membership and a challenging environment to drive dues from existing members, the American Booksellers Association president Michael Tucker wrote to members about a variety of initiatives starting next February. Most significant is that the organization will expand by making used bookstores eligible for membership. They are also adding a special membership category for new stores and new members. Both used stores and new members will be charged reduced dues, as will stores with low sales volume. Tucker writes that “ABA is making these changes because we believe in the opportunities inherent for community-based, indie booksellers in this time […]
Bookstores
Barnes & Noble’s New Strategy: We’ll GIve You Two Independent Directors If You Save Our Chairman
In their latest play in the proxy fight with Ron Burkle, who theoretically wants more independent voices on the board of Barnes & Noble, the company has thrown aside current directors Michael del Guidice and Lawrence Zilavy from the reelection slate (or rather the two “have decided not to stand for reelection”). Delaware chancellor Leo Strine recently rebuked the company in finding that del Guidice is too closely tied financially and politically to Len Riggio’s money and interests to be considered an independent director. Instead the company is nominating David Golden, evp and a partner at investment firm Revolution, and […]
Bookselling: Hard Times at Modern Times
San Francisco’s Modern Times Bookstore has told customers by e-mail they are “facing a financial crisis and urgently need an influx of cash if we are going to be able to pay our bills through the summer.” They add: “We absolutely believe that it is possible to function more sustainably but we need your help right now if we are going to get to the more lucrative fall and winter months and be able to put into place the changes that will help us survive.” In business for 39 years, they say they are “one of the few remaining independent, […]
Riggio Converts Shares at Above-Market Price
What a fascinating world we live in. While people who don’t understand the publishing business continue a steady stream of columns concluding the bookstores that sell 92 percent of trade books are done for–James Stewart because he buys from Amazon and his “hunch is that B&N never really embraced the Internet or e-books,” and Brett Arends at Marketwatch because he believes the e-book hype–the actual battle for ownership of Barnes & Noble intensifies. Founder and chairman Len Riggio exercised almost 1 million options, paying more than $1.50 a share above market at the strike price of $16.96 (or $16.8 million […]
Books & Books Westhampton Faces Resentment from Some Friends of The Open Book
The high-profile arrival of Books & Books Westhampton Beach has been greeted by success among shoppers and browsers, but has also stirred resentment among at least some customers of the town’s other bookstore, The Open Book, located “about a dozen storefronts away.” The NYT covers the tensions, in which Open Book owner Terry Lucas “said Books & Books is on a course to put her already struggling store out of business.” Lucas also works as a librarian in Southampton, and had negotiated to sell the store to an employee early last yar though the deal was never consummated. Her store […]
Barnes & Noble Rolls Out “Completely New” Rebranded Nook Reading Apps
The bookseller has released new versions of its ereading apps for Apple mobile devices and PCs, now unified under the Nook brand (as previously covered). The iPad version of their app now lets readers “rate” the books they’ve read, and the line of apps promise much more customization of fonts, colors and other aspects of the screen appearance.Release In the UK, WH Smith has taken the lead in ebook pricing wars, offering all ebooks at half the publishers’ digital list price.