Monday, December 8, 2008

Is the Sky Falling?

Last Wednesday, a great KABOOM was heard throughout the world of publishing. I shamelessly snagged these stats from Chip MacGregor's blog; a post he titled Black Wednesday

-Simon & Schuster cut 35 people (2% of its workforce).
-Thomas Nelson cut 54 people (10% of its workforce).
-Random House axed some of its top people and announced it is restructuring -- and will disband the Doubleday Publishing Group.
-It has been reported that Houghton Mifflin Harcourt has let go of several employees (the company doesn't comment on personnel matters). Becky Saletan, the publisher, has been let go.
-And Borders' stock price fell under one dollar. That's a very bad thing -- if their stock price stays under $1 for ninety days, they have to do a consolidation of stock (the opposite of a stock split).

I know a few writer's who have received word from their publishers saying, "You book has been cancelled".

Difficult, difficult.

Michael Hyatt blogged about the layoffs at Thomas Nelson (He is the CEO of Thomas Nelson. The comment section of that blog is a real Gong Show - 120 comments, most of them conciliatory, but some folks decided to digress into a rant about Twitter. Yes, you read that correctly, Twitter. Just bizarre how people allow small things to distract them from the things that matter. That was my rant for the day! Ta-da!)

But I want to point you to another blog, that of literary agent Rachelle Gardner who has assembled comments from five different agents (including my agent) who respond, from their perspective, to the events of the last few weeks. Great stuff in there. Hope you enjoy, and are encouraged.

We walk by faith, not by sight. (2 Cor 5:7).

I bid you good writing.

8 comments:

Janet said...

I'm with Steve Laube. Things go up and down and then up again. It's inevitable. This too shall pass.

Patricia W. said...

I read Chip's blog, which I so appreciate for its honesty. I also read Rachelle's, which I appreciate for its encouragment.

We are too "be anxious for nothing". So why worry about things you cannot control?

Bonnie Grove said...

Janet, they do indeed. I liked what Steve had to say, too!

Patricia, Chip is nothing if not honest. I agree, why be anxious? Now, if I can only put it into practice every day! Working on it!

lynnrush said...

HI. Yes, I'd read all those blogs last week. It is up and down..but isn't it that way in everything?

We must put our faith in God. He never promised it'd be easy, only that He'd be with us through it all.

That's where I rest my worries and fears. Doesn't it say somewhere in the Bible "Who by worrying can add a single hour to his life?"

Avily Jerome said...

If we all band together to buy books, we can undo the publishing recession.

I know everyone has been saying "buy books for Christmas presents!" but how many of us have actually done that?

A capitalist society (which is what we have- at least for now) is based on supply and demand.

If we buy books we create demand, and then the industry is forced to supply them, and it is a self-perpetuating cycle that can only improve.

But it starts with us!

Bonnie Grove said...

Lynn, Yes! Of course we are always in God's hands even when it seems things are going great. Ultimately, God is in control no matter what circumstances say - good or bad. Thanks for your comments.

Avily, Excellent point! I'm buying books as gifts for certain. One thing my husband and have done is instilled a love and respect for books in our children. At 5 and 7 they get so excited when Scholastic book orders come in. And we can't pass a book store without a good browse around.

Kathleen Popa said...

"Wear the old coat and buy the book." ~ Austin Phelps

lynnrush said...

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