Amazon UK has unveiled a change in terms for publishers in its Advantage program, offering “early payment” in 15 days with an additional discount of 2 percent, alongside a revision of the “standard” payment period to 60 days. Some publishers have claimed that the consignment-based scheme is “utterly outrageous” and “thuggery” even as others are more sanguine. The changes are effective as of April 1 and members are required to make their choice known to Amazon by that date. The email outlining the new terms arrived this week, giving publishers just days to reply. Said one IPG member contacted by […]
Delisting Possible as Borders Prepares to Unveil Strategy Next Week
With Borders set to declare fourth-quarter results next week, expectations are grim: more multi-million dollar losses, store closures, payroll slashings and, with shares currently trading at 64 cents per share, potential de-listing from the NYSE. Shareholders will hear more about the company’s strategy, including plans for a reverse stock split to satisfy NYSE conditions, next Wednesday when CEO Ron Marshall hosts a conference call with analysts and investors. One turnaround expert tells the Detroit Free Press that Borders seems to be one of buying time and hoping economic recovery is just around the corner. “They are figuring their brand name […]
Former Treasury Secretary Henry Paulson to Write About Economic Meltdown
Grand Central imprint Business Plus will release an account of the economic crisis by Henry Paulson, former Secretary of the Treasury and CEO of Goldman Sachs, this October. According to a statement issued Wednesday by Business Plus, the untitled book will “include Paulson’s personal recollections of key moments and decisions” and “will also include his insights on what has happened since he left office.” In a telephone interview with the AP, Paulson said: “I didn’t come to Washington thinking I was going to leave and write a book, but this period was so significant and there are so many insights […]
People and Announcements
Caroline Sutton has been named Editor-in-Chief of Hudson Street Press, effective May 4. Previously she was an Executive Editor with Collins. At Wiley, svp international development Stephen Smith has been promoted to chief operating officer, effective May 1. He will be “responsible for the overall direction and leadership of the Wiley’s global publishing business,” reporting to CEO William Pesce, and will relocate to the company’s Hoboken headquarters. Guy Raphael, senior non-fiction buyer at Borders UK, is leaving the company just weeks after being promoted to his current position. At Inner Traditions, Bear & Co., John Hays has been appointed Director […]
Yale and Other University Presses Face Dropping Sales
The Yale Daily News says that press YUP director Jon Donatich reports sales over the past year have been down 7 to 8 percent. “Our books are working,” Donatich said. “But the marketplace is very soft.” They are looking at shorter print runs and “an expanded digital platform.” The AAUP confirms that 62 university presses surveyed reported an average drop in sales of 10 percent over the second half of 2008. Director of the University of Pennsylvania Press Eric Halpern confirms their sales are down about 10 percent, too.YDN In related news, nearly half of the 120 print jobs proposed […]
Another eBook Lawsuit–This Time Against Apple
Apple has been sued in a Virginia-based Federal Court for patent infringement over ebook uses of the iPhone and iPod Touch by Swiss company Monec Holding. The company says it has a 2002 patent titled “Electronic device, preferably an electronic book” that covers “a general electronic device with a housing, display, input means, microprocessors, controls and interfaces for data exchange with peripherals” and a “preferably provided” touchscreeen that “has dimensions such that with it approximately one page of a book can be illustrated at normal size.” The filing says that “Apple makes books and book applications accessible through Wi-Fi and […]