TODAY'S NEWS

Arcade Publishing Files Chapter 11
By Jim Milliot
Arcade Publishing, the respected literary publisher founded in 1988 by Richard and Jeannette Seaver, has filed for Chapter 11 bankruptcy protection. The move comes approximately five months after the death of Richard Seaver.

In its filing, Arcade explained that since the death of Seaver, the company “has struggled in an effort to reorganize and seek investors. However, the loss of Mr. Seaver coupled with the ongoing financial issues in the publishing industry and the breakdown of the economy have all conspired to force the Debtor to seek relief in Chapter 11.” Earlier this month, the company laid off Tessa Aye, an assistant editor, and Casey Ebro, an editor and publicity associate. In its filing, Arcade lists total assets of $4.5 million, including $1.2 million in inventory, and total liabilities of $6.3 million; this figure includes $2.4 million due to stockholders and $1.6 million in accrued royalties. The company said that, given the opportunity, it will be able to consummate a plan of reorganization.Read on »

Sales, Temperatures Sizzle at MoCCA 2009
by Calvin Reid and Heidi MacDonald
Despite having to overcome the daunting combination of a new venue, an overheated hall and organizational gaffes, this year’s MoCCA Art Festival, held this past weekend, drew impressive crowds and offered another vibrant display of the state of indie comics and graphic novel publishing. The influential small press show featured much anticipated new works by David Mazzucchelli (Asterios Polyp), Seth (George Sprott) and Kazimir Strazpek (The Mourning Star), in addition to a wealth of foreign cartoonists showing off new works of their own. Read on »

Northshire's Chris Morrow On Former ABA CEO's Retirement Package
By Chris Morrow
In the letter below, Northshire Bookstore's Chris Morrow points out the efficient way the ABA board handled the organization's recent CEO transition, while questioning the severance package for the exiting CEO.

I would like to commend the current Board of Directors of the ABA for how they have handled the transition to our new CEO. While the contract is not public, there has been refreshing transparency and I have been assured by a number of the board that there are no “extras” as in past contracts. This is important because future boards will inherit the responsibility for the current contract - and simply because it needs to be fair and just. Shining a light on past abuses has helped improve the current outcome and needs to be continued. Read on »

RBTE Gets Passing Grade in Difficult Market
By Marcia Z. Nelson
With religion publishing in a slump, it came as no surprise that the 18th annual Religious Booksellers Trade Exhibit (RBTE) was smaller and shorter than last year. Geared for those publishing for Catholic, Episcopal, and other liturgical traditions, the show, held late last month at the Pheasant Run Resort and Convention Center in St. Charles, Ill., had 121 exhibitors, down 22% from 2008. Publishers were disappointed but not overly so. “We wrote some very good orders,” said Sheryl Fullerton, executive editor at Jossey-Bass. “This is a good way to reach booksellers you couldn’t reach otherwise.” Steven J. Alderman, director of sales at William B. Eerdmans Publishing, said they wrote half as many orders, but his sales total was 56% greater than last year’s. “Orders were down, but business was up,” he said. A number of publishers also said business was good for their children’s titles. Read on »

Hyperion Wins Auction for Captain Phillips Book
By Rachel Deahl
After we reported last month that CAA took on Captain Richard Phillips as a client, shopping his life rights to both the publishing and film industries, stories surfaced on Friday citing rumors that Phillips' memoir sold at auction to Hyperion. PW has confirmed that the publisher did win the auction for an as-yet-untitled book from the former head of the Maersk Alabama. Read on »

Blogs

MORE STORIES

Browne Named Children's Laureate in U.K.
Anthony Browne has been appointed the sixth Children’s Laureate in the U.K. Browne, who won the 2000 Hans Christian Andersen Medal, is only the second illustrator chosen as Children’s Laureate. The two-year position recognizes the contribution an individual has made to children and reading. Read on »

The PW Morning Report
A Million Books to iPhone; Arcade Files for Bankruptcy; Nextbook is now Tablet; Harper UK Cuts 5%; A Uni Publishing Manifesto. Read on »

AUTHORS ON THE AIR

Authors on the Air: The Tall Book; Melissa Gilbert; Peter G. Peterson
This morning on The Early Show, six-foot-three essayist Arianne Cohen handed down The Tall Book: A Celebration of Life from on High (Bloomsbury USA, 978-1596913080, $20), which pubs today. PW’s review had this to say: “Cohen has been frustrated, ever since she was a 5'3” eight-year-old, that no one has written a book about tall people... " Read on »

PICTURE OF THE DAY

March of the Penguins
On Friday, over 1,000 Penguin Group employees took part in the Penguin Global Walk on World Environment Day. Penguin staffers from the company’s offices around the world participated, walking around the clock in cities such as Auckland, Beijing, New Delhi and New York. The walk raised funds for the Nature Conservancy’s and United Nations Environmental Program’s “Plant a Billion Trees” initiative. Pictured here is Penguin Group (USA) CEO David Shanks (far left, front) among various Penguin Group (USA) employees getting ready to brave the rain and walk along the Hudson River. Photo credit: Stephany Perez Submit your pictures here »

JOB OF THE DAY

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