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Black WednesdayPublishers Lunch referred to today as “Black Wednesday,” with the bad news coming from Simon and Schuster, and more coming from Random House—this all coming on top of news we’ve been hearing lately about the likes of Barnes and Noble, Houghton Mifflin Harcourt, and just about every independent bookseller you can think of. And here we all said that publishing is a “recession-proof” industry. I guess not. So is there any good news we can take away from this as an industry? Is there any silver lining to a cloud that’s hovering over our heads for too long? Has the passing along of creativity become a less lucrative means to support oneself? Has the bottom line dropped too low? These aren’t questions we can answer ourselves, but we can see evidence of answers. We don’t know if we’ve reached the lowest point or if it’s still to come. The next page may have been written, but it still needs to be edited before we can market it to the masses. Maybe our silver lining is that our next chapter is unwritten. Hopefully the author will be kind, and he or she will write that black cloud out of our sequal. Posted by : Seth | 12/03/2008 12:12 PM Post a Comment
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