This has been a tragic weekend due to extreme weather for many communities.
It may take a while for folks to regroup; please let your members know that Binc is here for them. If you have anyone that we should reach out to, specifically, please let us know. Here is a link, which can be shared in a text or email, to the quick Binc Inquiry Assistance form.
0 Comments
Dear Bookseller,
The Open Enrollment Period for 2022 health coverage ends soon for coverage starting January 1, 2022! As a member of the American Booksellers Association (ABA), you have access to health insurance options for you, your family, and your business/employees from our partner, LIG Solutions. Important Dates to Remember:
If you need additional information regarding open enrollment, please call 866-732-3028 to speak directly with the team at LIG Solutions or visit www.ligmembers.com/americanbooksellersassociation. The U.S. Department of Justice has sued to block Penguin Random House parent company Bertelsmann’s proposed acquisition of Viacom CBS subsidiary Simon & Schuster, arguing that it “would result in substantial harm to authors.” The lawsuit was filed in the United States District Court for the District of Columbia on November 2. With it, the DoJ alleges that the proposed acquisition would “enable Penguin Random House, which is already the largest book publisher in the world, to exert outsized influence over which books are published in the United States and how much authors are paid for their work.” (Penguin Random House is the world's third largest publisher, but its largest trade publisher.) The full lawsuit can be read here.
Notably, the DoJ focused its opposition to the deal around its impact on authors (and particularly on potential bestselling authors). “If consummated, this merger would likely result in substantial harm to authors of anticipated top-selling books and ultimately, consumers,” the DoJ complaint states. “Post-merger, the two largest publishers would collectively control more than two-thirds of this market, leaving hundreds of authors with fewer alternatives and less leverage.” In a statement, U.S. attorney general Merrick Garland said that “books have shaped American public life throughout our nation’s history, and authors are the lifeblood of book publishing in America. But just five publishers control the U.S. publishing industry.” He continued: “If the world’s largest book publisher is permitted to acquire one of its biggest rivals, it will have unprecedented control over this important industry.” Acting assistant attorney general Richard A. Powers, of the Justice Department’s Antitrust Division, added that the lawsuit “will prevent further consolidation in an industry that has a history of collusion.” While PRH global CEO Markus Dohle has pledged to allow PRH and S&S editors bid against one another post-acquisition, the DoJ specifically rejected that overture. “In short, after securing nearly half the market for publishing rights to anticipated top-selling books, Penguin Random House asks this court to trust that Penguin Random House will not use its market power to maximize profits for the benefit of its shareholders but rather, it will essentially compete with itself to reduce those profits,” the complaint states. “This proposal defies economic sense, can be evaded or violated without detection, and is unenforceable.” The DoJ also took issue with PRH's previous statements that “the merger with Simon & Schuster will provide a counterweight to Amazon’s alleged buying power,” arguing that the publisher's “internal documents tell a different story: Penguin Random House plans to embrace Amazon even more closely after the merger. For example, in seeking approval from Bertelsmann’s Supervisory Board to pursue Simon & Schuster, Penguin Random House executives stated that the acquisition would advance their ‘[g]oal’ to be an ‘[e]xceptional partner for Amazon.’” The reaction from both PRH and S&S has been swift. In a release announcing their intentions to fight the lawsuit, the two publishers called the proposed deal a “pro-consumer, pro-author, and pro-book seller transaction.” Furthermore, sources close to PRH said that the government cherry-picked the numbers used to oppose the deal, questioning how the government could define what an “anticipated top-selling book” even is. In a memo to PRH employees, Dohle wrote that PRH believes “the DoJ is mistaken” in its assessment, adding that the publisher is “committed to vigorously defending this acquisition.” The memo argued that the proposed deal would "benefit all constituents, including authors, agents, retailers, and, ultimately, readers, and will do nothing to undermine the robust, competitive publishing landscape that currently exists." In a memo of his own, S&S president and CEO Jonathan Karp echoed Dohle's sentiments, noting that the DoJ “has not alleged that the acquisition would harm competition in the sale of books.” Daniel Petrocelli, vice-chair of O’Melveny & Meyers and PRH’s lead trial attorney, said that the “DoJ’s lawsuit is wrong on the facts, the law, and public policy." The publishing industry "is strong and vibrant and has seen strong growth at all levels,” Petrocelli said. “We are confident that the robust and competitive landscape that exists will ensure a decision that the acquisition will promote, not harm, competition.” PRH anticipates that the case could go to trial sometime in 2022. When the deal was first announced in late 2020, antitrust scholar Chris Sagers, Cleveland-Marshall College of Law professor and author of the 2019 book United States v. Apple: Competition in America told PW that there was “maybe a 50/50 chance" the deal would be challenged or conditioned by regulators. “As a practical matter, regulatory agencies during the past few decades have rarely brought serious challenges to deals less concentrating than four to three,” Sagers said. “That is, so long as a deal leaves at least four major firms in a market, the agencies are unlikely to sue.” But size does matter, Sagers added. And even though the PRH/S&S deal would have left four major publishers at the top of the publishing business, Sagers warned then that the metrics used to calculate market concentration, known as the HHI (Herfindahl-Hirschman Index) could weigh against approval, with the combination of PRH and S&S essentially creating one firm significantly larger than its next closest rival—a situation NewsCorp CEO Robert Thomson, whose company was said to be the underbidder for S&S, called out when PRH’s massive winning bid was announced. “There is clearly no market logic to a bid of that size—only anti-market logic,” Thomson said of PRH's winning bid, in a statement from November 25, 2020. “Bertelsmann is not just buying a book publisher, but buying market dominance as a book behemoth.” In response to the news, Mary Rasenberger, the CEO of the Authors Guild, which has been critical of the proposed acquisition, called the decision "unexpected, given that so many other major mergers and acquisitions in the publishing industry have gone through recently and over the last few decades with nary a raised eyebrow from DOJ, leaving us with only a handful of companies dominating the industry." The statement continued: "More importantly, the decision raises the bigger question that goes beyond traditional publishers to the consolidation of distribution channels and Amazon’s monopsony of book retail. We look forward to working with the Biden Administration on antitrust reform that gets to the root of the problems in the industry, whereas the proposed merger was just a symptom.” When the acquisition was first proposed last year, the deal generated backlash from many in the book business. Concerns included that the combined company would be too large for even the remainder of the Big Five publishers (which would have then become the Big Four), let alone other publishers in the business, to compete when bidding for books. The lawsuit is seen by some both inside and outside of publishing as a sign of the Biden Administration's intent to act more vigorously in antitrust matters. Penguin Random House, a subsidiary of Bertelsmann, publishes 2,000 new trade books in the U.S. annually and reported revenues of $2.5 billion from U.S. publishing in 2020. Simon & Schuster, a subsidiary of ViacomCBS, publishes 1,000 new trade books in the U.S. annually, and reported revenues of $901 million from U.S. publishing in 2020. (link to article) The Open Enrollment Period for 2022 health coverage options is here!
As a member of the American Booksellers Association you have access to health insurance options for you, your family, and your business/employees from our partner, LIG Solutions. Important Dates to Remember:
If you need additional information regarding open enrollment, please call 866-732-3028 to speak directly with the team at LIG Solutions or visit www.ligmembers.com/americanbooksellersassociation. HarperCollins is pleased to announce a Holiday Express Shipping program for independent bookstores in the United States that will begin Monday, September 20th, 2021 and run through Friday, January 7th, 2022. This program ensures that all qualifying orders received by 3pm (EST) will ship out the next business day and will be expedited so that in most cases they will be delivered in two business days, provided books are in stock and the account is in good credit standing. As always, we will make every attempt to meet our delivery promise, however, due to holiday season capacity issues and any unforeseen issues related to Covid, our two-business day delivery cannot be guaranteed as it is subject to carrier availability.
All reorders of HarperCollins and Harlequin titles are eligible for this program. New title laydowns will continue to ship by the established on-sale date for each title. Regular order minimums apply. Accounts should process their orders in the same way they always have – no special instructions are needed. All orders placed during this time frame will receive the special handling noted above. If you have any questions, please contact your HarperCollins sales representative. We have a new year and new GLIBA Board members! Please meet Jenny Clines of Seminary Co-op Bookstore in Chicago. Where do you work and how long have you been there? I work at the Seminary Co-op and 57th Street Books in Hyde Park, Chicago. I have been here for just over a year. Where might we be surprised that you have also worked? My very first job was when I was 14. I worked at a small amusement park that was run by my hometown's Lion's Club. I operated rides, took tickets, and did some cleaning. It was a great job for spending a summer outside with your friends. What do you like to read? What’s your current favorite book to handsell? I like a little of this and a little of that. I enjoy true crime and memoirs very much, as well as novels. Right now, I am re-reading Brother, I'm Dying by Edwidge Danticat. It was one of my all time favorites. It is a wholly sad and entirely moving family immigration story, a brief history of modern Haiti, and a heartrending account of caring for an ailing loved one, all told elegantly and artfully. In the last year, the book that I have handsold the most is Journal of a Solitude by May Sarton. It is wonderful! Sarton was a poet, fairly moody and brooding, and this journal follows her over the course of a year while she is living on a fairly isolated farm in the Northeast. It chronicles her daily life doing chores and tending her home and garden; tracks her creative process; and intimately details her struggles with loneliness, commitment to solitude, and the evolution of a handful of her closest relationships. It is a beautiful journal to read anytime, especially if you are interested in the creative process or a solitary life, but it has become even more pertinent in the last year as we all find ourselves dealing with solitude in completely new ways. Who are you when you’re not slingin’ books?
I am a Texan building a life in Chicago after a decade in DC. I like iced coffee, hot weather, Lake Michigan, sleeping cats, and family Zoom calls. What’s your favorite part of your job? The best part of being a bookseller is the other booksellers that you get to work with. It is a profession that appeals only to those who are curious, passionate, and creative. My favorite part of my job is that I get to figure out how to make the jobs of other booksellers easier. Give us three of your favorite bookstores. Lost City Books in Washington, DC Fabled Bookshop and Cafe in Waco, TX Elliott Bay Book Co. in Seattle, WA We have a new year and new GLIBA Board members. First up we welcome Meila Wolf of Cover to Cover Children's Book in Columbus, OH. Where do you work and how long have you been there? I have owned and worked at Cover to Cover Children’s Bookstore since 2017. All of my adult life has been working with children. During college I worked at the Columbus Metropolitan Library and at Barnes and Noble. Where might we be surprised that you have also worked? After getting a BFA with a focus on sculpture from OSU and a teaching certificate from Ohio Dominican I began a career teaching art to children. My favorite job title was “Atelierista” at a Montessori school. I volunteered for the James Cancer Center as an art therapist supporting children of cancer patients. My favorite volunteer work was at Open Door Art Studio assisting adults with disabilities in pursuing their artistic goals. I also had a blast working at my local library planning and performing puppets shows. As an artist I find great pleasure in reading picture books and as a “young” minded adult I LOVE YA! What do you like to read? What’s your current favorite book to handsell? Two of my favorite books to handsell are Children of Blood and Bone and The Rabbit Listened. Who are you when you’re not slingin’ books? When I am not slinging books I love every second with my own two children...reading, painting, walking our dog, playing chess, and most of all listening to their ideas! What’s your favorite part of your job? I am a bridge builder so my favorite part of my job is when I find myself able to make a connection of any kind for someone. I LOVE the people I work with and I love how our store manager, Bryan Loar, encourages us to all work as a team to empower children. Give us three of your favorite bookstores. My favorite bookstores are The Bookloft, Parnassus, and the 🎈Red Balloon! PGW / IPS Reps are Serving Up Their Favorites!
November 12th 6-7 CST / 7-8 PM EST RSVP TO ATTEND Join us tonight for the books we think are the cream of the crop for holiday selling. RSVP to Johann Hynes and you’re automatically entered to win a free set of these indie favorites, along with a few other surprises! *Must be present to win* Please share the invite below with all your booksellers from frontline to backroom and have them RSVP too! The more the merrier. |
Archives
April 2024
Categories |