TODAY'S NEWS

B&N Prepares for Terrible Holiday
In a memo sent to employees last week, Barnes & Noble chairman Len Riggio said with the retail environment the worst he has ever seen as a bookseller, the nation’s largest bookstore chain is “bracing for a terrible holiday, and expect[s] the trend to continue well into 2009, and perhaps beyond.” The release of the memo was first reported yesterday by the Wall Street Journal.

Riggio’s remarks follow statements made by B&N CFO Joe Lombardi in early September at an investor’s conference, where he said the retail environment was the worst the company had seen in 30 years. The company’s same store sales were down in the first part of the year, and the company projected that same store sales would fall in the low-single digits in the just ended third quarter. Read on »

Rodale to Cut 10% of its Workforce
by Jim Milliot
Rodale is the latest media company to undergo a major downsizing, with the book and magazine publisher announcing yesterday afternoon that it is eliminating 111 positions, about 10% of its workforce. The majority of the cuts are in the company’s IT, operations and customer service departments, although some reductions are being made in the publishing units. As part of the restructuring, IT and operation functions are being shifted to outside vendors, and corporate sales and marketing responsibilities handled by Rodale marketing solutions will be handled by the sales and marketing teams at each of Rodale’s brands. Approximately eight positions cut will come directly from the book group. This spring, Karen Rinaldi was named to head the Rodale book unit, and she restructured the group by bringing in Colin Dickerman and Pam Krauss as publishing directors.

Marvel Publishing Sales Slip
Sales in Marvel’s publishing segment dipped 3% in the third quarter ended September 30, falling to $34.0 million. Operating income declined 15%, to $12.7 million. The revenue decline was due to lower sales of trade paperbacks and custom publishing titles that offset higher sales of traditional comics. Higher costs for “talent and paper” contributed to the decline in earnings as did continued investment in digital media projects. Read on »

Workman Integrates Como Sales
by Judith Rosen
Published reports that Workman has recently acquired the Como Sales Company has caused some confusion in the market. Workman acquired Como six months ago following the death of long-time Como head Henry Hirsch and Judy Hirsch’s retirement, and Workman has now begun integrating the commission sales force, now a wholly-owned subsidiary. Among the first steps Workman took has been to extend Como’s reach beyond New England and the Mid-Atlantic down to Miami. As part of its southern expansion, Workman added two new Como sales reps: Gail Whitten, who has represented Workman for the past 11 years, and Fraser Dobson, co-owner of Park Road Books in Charlotte, N.C. Charles Collins, Adele Herman, Sam Herman, Peter Redding and David Solomon will continue to sell Workman as part of Como. Read on »

New CEO for Reed Elsevier
By Lynn Andriani
Reed Elsevier announced today the appointment of Ian Smith as CEO-designate of Reed Elsevier, and confirmed that Crispin Davis will be stepping down as CEO next year. Smith will join Elsevier on January 1, 2009, and will succeed Davis when he retires in March. Reed is the parent company of Reed Business Information, which publishes PW.

Most recently, Smith was chief executive of Taylor Woodrow plc, one of the largest British house building and general construction companies. His previous roles have included CEO of General Healthcare Group (GHG), and CEO Europe, Middle East and Africa at Exel Group.

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Final Reminder: Spring Announcement Listings
Letters were sent to publishers September 23 requesting submissions for PW's January 26 announcement listings. If you did not receive this letter, please contact Dick Donahue immediately at ddonahue@reedbusiness.com.

AUTHORS ON THE AIR

Authors on the Air: The Woman Who Can't Forget; Mama Does Time; Election Fraud, Unwrapped
Today, Oprah talks with Jill Price, author of The Woman Who Can't Forget: The Extraordinary Story of Living with the Most Remarkable Memory Known to Science--A Memoir (Free Press, 9781416561767, $26; Recorded Books CD, $29.99). PW thought that “her insights into the nature of memory, forgetting and the formation of our sense of self will resonate with a wide audience.” Read on »

PICTURE OF THE DAY

JPS Celebrates
On October 30 The Jewish Publication Society celebrated its 120th anniversary with a reception at The Kimmel Center for the Performing Arts in Philadelphia. Pictured here (from l. to r.) are: JPS CEO and editor-in-chief Ellen Frankel; Philadelphia Mayor Michael Nutter; and JPS Board of Trustees President David Lerman. Submit your pictures here »

JOB OF THE DAY

PW VIRTUAL EDITION

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