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 […]
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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 […]
People: Stern Finally Joins Crown, and More News
Molly Stern has been officially cleared to join the Crown Publishing Group as svp, publisher of the Crown and Broadway imprints, starting immediately and reporting to president Maya Mavjee. Mavjee reiterates, as she noted in restructuring the Crown group in late April, that Stern will oversee the two lines’ “traditional areas of expertise” which span a variety of “narrative nonfiction areas,” but with Stern’s personal focus on fiction she will also work to “grow and to provide a new vision and director for [their] fiction publishing program.” Stern was editorial director of fiction and executive editor at Viking, where she […]
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 […]
Hoping for Some Sales Power
The Secret author Rhonda Byrne’s new book THE POWER may be more important for Simon & Schsuter than the so-called “besieged book world,” but with 924,000 pre-orders for this Tuesday’s release strong sales would certainly be welcomed by retailers. As the WSJ reports, Atria has delayed the ebook release, supposedly for some “fine tuning.” Unfortunately Byrne will not be doing television interviews in support of the book–so Atria has prepared a campaign of TV ad spots instead. The article also mentions what may be August’s most-anticipated release, the laydown of Suzanne Collins’ MOCKINGJAY on the 24th.WSJ Crain’s offers a sweeping-if-not-particularly-specific […]