Posts tagged 'Books'

Deep thoughts, by Nassim Nicholas Taleb [updated]

This FT Alphavillian has a confession to make. When she first started working in finance, she read Nassim Nicholas Taleb’s Fooled by Randomness and was quite taken by it. She recommended it to friends. Choice quotes by the man in the FT were dutifully clipped out and pinned to the cubicle wall — right next to a chart of monoline CDS spreads widening out and a list of biggest SIVs. Such a crisis groupie, we know…

So, what happened to NNT? And at what point did he get a bit “Deep Thoughts, by Jack Handey”? Read more

Penguin-Random House tie-up confirmed

Here is the full statement on the agreement between Pearson, owner of the Financial Times, and Bertelsmann. Some excerpts below:

Under the terms of the agreement, Penguin and Random House will combine their businesses in a newly-created joint venture named Penguin Random House. Bertelsmann will own 53% of the joint venture and Pearson will own 47%. The joint venture will exclude Bertelsmann’s trade publishing business in Germany and Pearson will retain rights to use the Penguin brand in education markets worldwide. Read more

Borders announces liquidation, closes all stores

Borders will go into liquidation this week, the company has said, ending its run as the US’s second-biggest traditional bookseller, the FT reports. The book chain said on Monday that it would hand itself to liquidators after cancelling an auction set for Tuesday after it failed to find any last-minute bidders for the business. The liquidation signals job losses for Borders’ 10,700 employees and confirms the company’s status as the highest profile US victim of the growing popularity of online book selling and e-reader devices. Announcing the liquidation, Mike Edwards, Borders president, said in a statement: “Following the best efforts of all parties, we are saddened by this development. “We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time, including the rapidly changing book industry, e-reader revolution and turbulent economy, have brought us to where we are now.”

Borders goes into liquidation

Borders will go into liquidation this week, the FT reports, ending its run as the US’s second-biggest traditional bookseller. The book chain said on Monday that it would hand itself to liquidators after cancelling an auction set for Tuesday after it failed to find any last-minute bidders for the business.  The liquidation signals job losses for Borders’ 10,700 employees and confirms the company’s status as the highest profile US victim of the growing popularity of online book selling and e-reader devices. The WSJ says Borders’ demise could speed the decline of physical book sales.

 

364 days later – HMV edition

A year is an awfully long time for a business in structural decline.

Ask Simon Fox, the boss of HMV. Read more