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Thursday, December 04, 2008

 

Black Wednesday: No Bailout in Bookland

They're calling it Black Wednesday ...

The Los Angeles Times Jacket Copy blog posts a few of the details and some links for more info about the economic impact the recession has had on the book publishing industry.

Boy, would I hate to be some sorry scribbler shopping his novel around NYC right about now ...

From the LAT:
The New York publishing world, which has had its own shivers of layoffs, got seriously rattled by major announcements today by Random House, Simon & Schuster and Thomas Nelson. Publishers Weekly editor Sarah Nelson is not the only one calling it Black Wednesday. Thomas Nelson, a Christian publisher, laid off 54 people. Senior staff are leaving Random House in a "long anticipated restructuring," but the company isn't calling the departures layoffs. What happened at Simon & Schuster were layoffs -- 35 people were let go. Understanding that this is bad news, Nelson, in a blog post, still keeps her chin up: "I don't really worry, in the long run, about publishing itself."

Full post is at Jacket Copy.

— TJ Sullivan in LA
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