TODAY'S NEWS

BEA Negotiates Cheaper 2009 Hotel Rates
Looking to address concerns about the cost of hotels during BookExpo America, show officials have negotiated rate reductions for the 2009 show ranging from 10% to 25% at a number of Manhattan hotels. The cost of Manhattan hotels is generally cited as one of the most serious concerns about the future of BEA and its plans to stay in New York City through 2012.

BEA show manager Lance Fensterman said the cost reductions "show our commitment to helping defray costs for everyone who attends the show." For example, the Doubletree Metropolitan will reduce its room fee from $269 to $219, while the Park Central has reduced its rates from $309 to $199. Rates at the Doubletree Times Square will be reduced from $379 to $299 and the InterContinental hotel's rates will be reduced from $299 to $249. Read on »

Borders Gets Another Extension
By Jim Milliot
There continues to be no shortage of speculation about the future of Borders, but the source of the most recent rumors has been again delayed. The company announced Friday afternoon that the deadline for Pershing Square Capital Management to exercise its put option to acquire Borders's Paperchase subsidiary has been extended until April 15. Pershing, Borders's largest shareholder, has the right to buy Paperchase for $65 million. The original deadline had been January 15, but had been pushed back to February 16. The retailer also announced that the repayment of a $42.5 million loan due Pershing has been postponed to April 15 as well.

The retailer also announced that it plans to release it final results for 2008 on March 31 with a conference call set for April 1.

Book Soup Gears for Sale; Goldman Scholarship Established
By Wendy Werris
Six weeks after the death of its founder and owner Glenn Goldman, the staff at Book Soup in West Hollywood is carrying on in the tradition of the man who opened the bookstore more than 30 years ago.

Shortly before he died, Goldman decided to put the store up for sale, and progress is being made to move forward, according to Book Soup's acting president and CFO Adrian Newell. "Our physical inventory was completed recently, and I'm hiring a company to do a thorough valuation of the Book Soup name." Newell has also hired a business broker to handle the marketing of the sale. Offers have already come in and will be addressed when the evaluation process is completed. "This is a turnkey business," Newell said, "as demonstrated by how well the store continues to do. The staff here is amazing and dedicated, even during an uncertain situation."

The Glenn Goldman Scholarship for booksellers is moving forward and plans to make its first endowment this fall. Its purpose will be to provide continuing education for young booksellers through trips to BEA and ABA's Winter Institute program. Application queries may be sent to Adrian@booksoup.com.

YA Book Sells to Disney; Pub Rights Pending
By Rachel Deahl
After Hollywood interest was brewing last week for Clete Smith's YA novel, Grandma's Intergalactic Bed & Breakfast, Jody Hotchkiss of Hotchkiss & Associates has closed on a deal for film rights with Disney. The lit rights, being handled by Sterling Lord's George Nicholson, remain up for grabs.

Smith, who has an MFA from Vermont College and has won a handful of screenwriting contests, is, according to Nicholson, a "promising comedic talent." Word on his book--about a boy who goes to spend the summer at his grandmother's Washington State B&B only to find out the place caters to vacationing aliens--is that it has the kind of high-concept potential Hollywood targets. David Hoberman (Beverly Hills Chihuahua; Traitor) is attached as a producer. For Nicholson's part, he said he has hopes for a "swift sale."

Featherproof Books Starts Subscription Imprint
by Claire Kirch
Featherproof Books, a small four-year-old press known for its experimental fiction list, is launching a subscription-based imprint called Paper Egg Books. All print runs will be determined by the number of subscribers who sign up for the program; they will pay $20 per year to receive two books – either a novella, flash-fiction or short story collection -- one in the fall, the other in the spring. All Paper Egg titles will be designed by Paul Hornschemeier, the award-winning illustrator and graphic novelist. The first title released under the Paper Egg imprint will be Christian TeBordo’s debut short story collection, The Awful Possibilities, due out in October. TeBordo is the author of three novels: The Conviction and Subsequent Life of Savior Neck, Better Ways of Being Dead and We Go Liquid. Read on »

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Turner Publishing Buys Cumberland Titles
Nashville-based Turner Publishing has acquired the remaining inventory of Cumberland House in a deal that closed earlier this week. In December, Cumberland, founded by Ron Pitkin, sold 90 titles plus the rights to its name to Sourcebooks with Pitkin joining Sourcebooks as an editor. In addition to the inventory, the new deal gives Turner the option to acquire rights to the 432 titles. Turner president Todd Bottorff said selling off the inventory will give him a chance to evaluate what titles do best in the market. He said Turner will give its full support to marketing the books, which cover a range of fiction and nonfiction areas.

Spring Book Festivals 2009: The Shows Do Go On
What recession? Judging from the roster of returning–as well as newly established–spring book festivals, the commitment to hold these annual events celebrating authors, books, literacy and local library systems is still strong in the face of our incessant economic drama.

New to this year's listing are the National Black Book Festival in Houston, Tex. and the Fox Cities Book Festival in Appleton, Wisc., both two years old; the Hollywood Book Festival in Los Angeles, Calif. and the Greater Rochester Teen Book Festival in Rochester, NY, both four years old; the Beach Book Festival in Atlantic City, N.J., in its third year; the first annual Green Book Festival in Los Angeles, Calif. and the first annual San Francisco Book Festival. (These last four are productions of JM Northern Media.)

The following 27 book festivals are among the many scheduled to take place from February through July 2009. Contact information for publishers wishing to participate is provided below; check festival Web sites for complete author lists and more details on participants, activities and educational programs. Read on »

Comings and Goings
If you've been laid off or recently left your job and would like to pass along your contact information to others in the business, send details to pwletters@reedbusiness.com. Please include your full name and former title/company.

Joe Rhatigan, former editorial director of children's books at Lark Books/Sterling Publishing, can be reached at joerhat@yahoo.com.

Mike Bell, former national account manager at Simon & Schuster, can be reached at mikebell53@aol.com.

Joann Hill, former creative director at Houghton Mifflin's Clarion Books an imprint, can be reached at joannhilldesign@gmail.com.

Stephanie Fraser, former associate editor with the Creative Development group at HarperCollins, can be reached at stephanielfraser@gmail.com.

Martha Guzman, former associate manager of domestic rights at the Doubleday Publishing Group at Random House, can be reached at mguzman4R@aol.com.

Michael Messina, former publisher/acquisitions editor at Applause Theatre & Cinema Books/Limelight Editions, can be reached at messinamichael27@gmail.com.

Bonnie Sheehan, former Online Account Manager at O'Reilly Media, can be reached at wigglesmcgiggles@gmail.com.

You can find a full listing of all those who have appeared in Comings and Goings here.

The PW Morning Report
Pat Knopf Dead; Cavett on Updike & Cheever; Philip K. Dick Last Novel Completed; Leila Hadley, Travel Writer, Dead; Dubai Bans Book Because of Gay Character; John Grisham's The Associate to Big Screen; and Hefty Read: The Joy of Cooking Read on »

AUTHORS ON THE AIR

Authors on the Air: Alison Weir; Me Cheeta; The Coolest Race on Earth
This morning on The Early Show, bestselling Rabbi Shmuley Boteach unlocked The Kosher Sutra: Eight Sacred Secrets for Reigniting Desire and Restoring Passion for Life (HarperOne, 978-0061668357, $25.99). Read on »

PICTURE OF THE DAY

An 'Ugly' Valentine from Random House
David Horvath, co-creator of Uglydolls and co-author of The Ugly Guides (Random House BFYR), was at FAO Schwartz's flagship store on 5th Ave. this Saturday for a signing. Horvath was at the store for over three hours for the event and Ox, a life-sized Uglydoll, was there to entertain those waiting in line.
photo credit: Meg O'Brien
Submit your pictures here

JOB OF THE DAY

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