Macmillan’s UK education division admitted to making bribes “in an [unsuccessful] attempt to get a contract to print textbooks” for an education project in Sudan whose funds were administered by the World Bank. As a result, the bank has barred Macmillan Limited from eligibility for bank-financed contracts for six years. Macmillan would not discuss the incident with Reuters, but a spokesperson said “We will not tolerate improper behavior as a company, and the fact that we have worked closely with the World Bank to reach this agreement is evidence of that. There is no suggestion that these concerns have affected […]
Barnes & Noble Launches HP Store
BN’s online ebookstore for Hewlett-Packard launched today at hp.bn.com. HP announced a new line of computers today, and will link to the store from their PCs.
Canadian Dollar Hurts Torstar Sales (But Helps Profits)
Sales at Torstar’s Harlequin unit fell in their first quarter, ending March 31, at $113 million down more than 9 percent from $124.5 million a year ago. EBITDA rose over 9 percent, though, to $23.7 million. The company says North American retail and overseas sales fell, as digital revenues had “strong growth.” In a bit of a paradox, the rising Canadian dollar accounts for $10 million of the drop in sales, but foreign exchange also contributed to the rise in profits.Release
People, Etc.
Skira Rizzoli Publications has hired Margaret Rennolds Chace as associate publisher, reporting to Charles Miers, starting next week. Most recently she was managing editor of publications at the Metropolitan Museum of Art. At the New York Times, Julie Bosman is taking over as the reporter covering book publishing. At Harper Children’s, Mary-Kate Gaudet has been promoted to editor. With the flooding in Nashville, TN, we heard concerns about the potential personal and business impact. Spokesman for the Ingram Book Company Keel Hunt replies to our query: “CEO Skip Prichard reports there has been no flood damage at Ingram facilities, and […]
Not the News: Little Change In Google Editions Launch Date
The WSJ got wide pick-up for revealing something already announced: “Google will begin selling digital books as early as late June or July, a company representative [Chris Palma] said Tuesday” at a BISG event. Just as Google’s Roland Lange said at a conference in early March that the service would launch…in June.WSJ
Harper Returns to Slim Profit in Third Quarter
Sales at HarperCollins rose 13.5 percent to $276 in their fiscal third quarter ending March 31, as operating income turned positive again at $4 million after an $8 million loss (plus a $30 million restructuring charge) in the same period a year ago. While an improvement, note that two years ago in the same quarter Harper had sales of $302 million and operating income of $29 million. As usual, Harper UK proudly points out to the local trade press that they “did outperform the market,” the most positive way of saying that sales declined, but not by the six percent […]