When times are good, retailers thrive during the holidays and when times are hard, the holiday selling season can be the springboard to bankrupty. Bloomberg explains, “In the last quarter century, about a fifth of large retailers that went bankrupt, including RH Macy & Co. Inc. and FAO Schwarz, did so in January, using holiday sales cash to jump-start reorganizations or finance liquidations.” But “this bankruptcy season is different. Retailers with reduced revenue or bloated debt are closing down early because of a consumer spending slump linked to the credit crunch, dwindling inventory values and restrictive changes in the bankruptcy […]
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Layoffs at Rodale
The company is cutting approximately 10 percent of its staff, comprising 111 employees in all. The Allentown Morning Call says that 73 of the cuts will come from their Emmaus headquarters; the remaining 38 are in New York and regional sales offices. Rodale says in a release it is “eliminating or consolidating positions in several of its divisions, including operations, IT, customer service and some publishing departments in order to shift resources toward its highest growth potential activities.” As the NY Post notes, “the job cuts come after the privately held company sought unsuccessfully to find a strategic partner to […]
Self-Published Cookbook Goes National
Wona Miniati and Deana Gunn say their self-published COOKING WITH ALL THINGS TRADER JOE’s has sold 20,000 copies in the past year, with another 15,000 recently shipped to stores, and now Borders is carrying the book chainwide. Published without the participation of the grocery chain, the book presents recipes based on prepared ingredients carried by Trader Joe’s.WSJ
Because It's Friday: Sarah Palin, the Calendar
A WSJ blog highlighted this new product from Anchorage-based photographer and friend-of-Palin Judy Patrick. “Patrick said her inspiration for the calendar was a simple one–she needs money” to trade up to a new condo in Anchorage “somewhat out of their price range.” Patrick says she printed 30,000 calendars. Currently on sale via SarahCalendar.com, “she is also working out a deal with Barnes & Noble to sell the calendar either in stores or online. It’s also available in local book stores in Wasilla and Anchorage.”WSJ
Sister Suit Story Gets Better
Natasha Boncompagni didn’t get to court before her sister, author Tatiana Boncompagni (Hoover), so instead she’s conducting an active campaign in public. In addition to the e-mail we cited yesterday, Natasha has written extensively to CityFile. She claims that last Wednesday she “refused the emailed offer to essentially buy me off that her agent sent to me” which she says offered $5,000 in to drop any claims to the book Hedge Fund Wives and assign all copyright and domain names to Tatiana. Natasha says, “My sister’s history of lying is a well-known fact both within our family and with her […]
Redstone Sale? "Not a Chance"
The scrappy billionaire tells the WSJ there’s “not a chance” he would sell CBS or Viacom to alleviate his debt issues as he struggles to restructure $1.6 billion in loans. “Redstone ruled out selling any shares in either of the two companies he controls, even if negotiations with lenders about a debt restructuring turn sour. Mr. Redstone acknowledged there is ‘no guarantee’ those negotiations will result in a deal, but he described them as ‘extremely constructive.'” He adds: “I will not sell Viacom and I will not sell CBS. They’re two great companies.” Plus: “We have no intention to sell […]