Grub Street Printing Newsletter #27, July 2011

Ebook Issue(s)

Ebooks, Enhanced Ebooks, and Apps

Is there a difference between ebooks and apps? Some argue that enhanced ebooks are apps. And, you can't sell an ebook, just the right to read it.

Which Titles Do Well as Ebooks?

Despite what most sales reports show, 75% of all ebook sales are technical and professional. But for books known as trade books, ebook bloggers and best seller lists indicate that fiction sells the most ebooks. Since ebook sales can't be tracked conventionally without acceptance of individual ISBNs, it's mostly guesswork.

The publishers that responded to my request for ebook experiences indicate all genres from cookbooks to yoga can work well digitally. Ebooks will often track a title's conventional book sales.

Ebook Readers

Just a few years ago your choice was your computer or a Kindle. There are over a dozen choices today and more are in use in Asia. New tablets, smart phones and now flexible screens are being tested. Consumers still need to understand some problems ereaders can pose, including incompatible formats.

As a publisher you won't need to offer books in all formats but as a consumer? Good luck, although some conversion tools are available.

Format Guidelines

Here are the first steps for publishing your book to Kindle (Amazon), Nook (B&N), or iPad (Apple). Or go to Smashwords and they'll help with all of your conversions and distribution.

How many ISBNs Are Enough?

Every edition in every format of your book needs a unique identifying ISBN whether you provide one or the distributor does. Amazon assigns an ASIN to your ebook even if you have an ISBN (if you have a 10 digit ISBN that will be your ASIN).

Without unique ebook ISBNs, sales figures and ebook bestseller lists can't be accurate.

Hit and miss Ebook Pricing

If there's definitive information about ebook pricing I can't find it. This and this admit that pricing is all over the board and not expected to stabilize soon and readers dislike the current inconsistencies. The big 6 publishers have adopted agency model pricing, but the overall market has not favored that system.

The conventional book pricing model won't work but it seems there's no model to replace it.

Size of the Ebook Market

Thus far, gauging the size of the market is done with smoke and mirrors. This points out that comparing ebook sales figures (direct to consumer) vs. conventional book sales (to retailers and wholesalers) is misleading.

January 2011 ebook sales were up 115% over previous January while the AAP reported a 200% increase in February sales of $90 million.

The European market is decidedly smaller (Euro at $.71 today) while the Japanese ebook market is dominated by comics.

Some ebook publishers report a small drop-off in sales after consistent monthly growth.

Market watchers see Amazon dropping from 90% of domestic ebook sales to less than 50% in the coming 4 years.

Follow Ebook Blog

Media Bistro (whose GalleyCat is my recommended daily book publishing newsletter) has a daily blog that follows all things ebook.

Back to Books

Your Text Stocks Eco-Footprint

There are many ways to judge a paper's ecological impact. This article has links to a number of ratings systems. And Domtar Paper now offers online environmental documentation of their stocks called The Paper Trail which details two of its more eco-friendly sheets.

Borders Sale?

Suddenly it appears Borders has found a buyer to sidestep liquidation.

Final thought

In the beginning was the Word. John 1:1

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Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

Grub Street Printing Newsletter #26, June 2011

Alive and Kicking

Bowker reports that those awaiting the death of traditional books need to be a bit more patient. ISBN registrations for paper and ink books rose around 5%. A breakdown of the categories is here.

And...

The AAP reports overall book sales improved in March over March 2010 sales.

Barnes & Noble Sold?

John Malone, head of media empire Liberty Media, has made an offer to buy Barnes and Noble for $17 per share ($1 billion). Some feel the bidding is just starting.

Amazon Will Publish ebooks

Apparently Amazon feels that since it already owns the ebook market, it will expand into publishing ebooks to compete with the ebooks they already sell for other publishers.

Whither the Oprah Effect?

Now that Oprah's last live show has broadcast, what will her absence mean for book sales?

Borders Blog

Not the corporate crap...a blog by Borders employees. I always thought that Borders' clerks working the floor were “real” book people. The problem was their managers thought they were “product” managers. Books ain't products.

BEA Impressions

The publishers and printers I've spoken with who attended BEA 2011 have commented that interest in ebooks dominated their conversations. How, why, when, and how much were the questions being asked by publishers feeling the pinch of lost sales. A very basic guide to the mechanics of ebook publishing can be found here. Attendance (less exhibitors) was down slightly from last year.

Paper Plant Closes

Washington State's Grays Harbor Paper, manufacturer of recycled copy and printing paper,

has closed, eliminating 240 jobs. While the mill is over 100 years old, new ownership in 1993 began producing recycled grades, with up to 100% post consumer content.

Modern Paper Making

Modern paper mills are innovating to be more eco-friendly. Check out the inset at the end of this article about the Tamil Nadu mill in India.

Nook vs. iPad vs. Kindle

The ebook hardware race is on. Kindle is king with 65% of the market to iPad's 10%.

Industry Predictions

PIRA International has just released a forecast through 2020 covering the print, paper and packaging industries.

Playboy Archive Online

For a mere $60 per year, every page of every issue of Playboy magazine will be available as full issues or in a searchable database on your computer. Or try it for $8 a month and reread the Mailer, Kerouac and Vonnegut interviews that you kind of remember.

Nonna's Book of Mysteries

Mary Osborne's book Nonna's Book of Mysteries has been met with multiple awards for this first time author (Lake Street Press). A nomination for an IBPA Ben Franklin award, The Bill Fisher Award for Best First Book (Children's/Young Adult), is the latest accolade for this wonderful story.

Final thought

Begin every story in the middle. The reader doesn't care how it begins, he wants to get on with it. Louis L'Amour

Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

Grub Street Printing Newsletter #25, May 2011

eBook Metrics

A new report from Simba Information claims that 75% of the U.S. eBook market belongs to professional and scholarly titles.

But according to this, there is no way to accurately gauge the size of the eBook market because no accurate data collection exists to report all eBook sales.

Hybrid Printing

From mounting an inkjet print head on a web offset press to preprinting offset shells for inkjet imprinting, printers are finding ways to get the best of multiple options by mixing digital and conventional printing.

Traditional Book Outlook

While it's clear that the digital revolution has transformed book publishers into content providers, the traditional book will share the market with electronic media but not disappear like glass negatives. Even techies concede that the book market will be a shared playing field.

Very Large Format Presses Coming Back

Years ago, Baker Johnson Inc.'s 54” Miller press was called a “dinosaur” when everyone moved to 40” equipment. Big is back, as KBA introduces an 81” offset color press running at 9000 sheets per hour. That translates to printing a 192 page 5 ½ x 8 ½ book on a single press pass (one sheet of paper).

Conde Nast Spear-Phished

A simple email to Conde Nast, seemingly from their printer, Quad Graphics, diverted over $8 million of payments to a new bank account established by the phishers. It was a very sophisticated scam that took weeks to discover but was uncovered before the scammers had withdrawn any of the money.

Eco – Electronics

While the paper industry must constantly defend its environmental impact and commits millions of dollars per year to improve its eco-footprint, the electronics industry continues to enjoy little or no scrutiny.

Copyright and Digital Rights Management

While many writers endorse giving your books away online, this is a discussion of rights management in the digital age.

Digital Eggs

In an effort to improve safer egg production through traceability, Domino Printing Sciences has developed inkjet technology to print unique identifiers on individual eggs.

Nook Color Identity Crisis

B&N has released an Android update for the Nook Color that blurs the line between eBook reader and tablet computer.

Third World Paper Mill

While American paper usage is shrinking, the third world embraces paper as an economical medium for information distribution. This is an enormous paper mill in Indonesia.

American Recycled Paper Mill

Fibermark Paper (Alsip, IL) makes 90,000 tons of recycled paper yearly in a plant that no one seemed to want.

Smells So Good

Karl Lagerfeld is preparing to introduce a perfume that smells like books. Bibliophile Lagerfeld claims a 300,000 book library

Final Thought

When I am dead, I hope it may be said:

“His sins were scarlet but his books were read.”

Hilaire Beloc (1870 – 1953)

Grub Street Printing Newletter #24, April 2011

Google Settlement not Settled

A District Judge in NY said the Google Settlement, finalized last year, is unfair, granting Google the right to print orphaned works not available to other publishers. Once again, Google has been asked to consider an “opt-in” option to replace its ubiquitous “opt-out” provision.

Airport Books

Some of our publishers sell their books at airports. Here's a quick guide to the reasons why it makes sense, although the first distributor they mention is probably not the best choice for this.

Agency Model Problems

Just as Random House finally adopted the “Agency Model” for ebook pricing, the European Commission has raided publishers offices for evidence that the model violates anti-cartel laws.

Recycled Paper Usage Increases

U.S. paper mills supplied 7% more recovered paper in 2010 than in 2009, a total of 31.3 million tons. Over 60% of all paper used in the U.S. is recovered for recycling.

Domestic printing and writing paper sales were off 6% in February; inventories climbed 2%

. Authors Experiment

Novelist Barry Eisler, author of the John Rain thrillers, has turned down a $500,000 contract in order to self-publish his next book while Amanda Hocking, who writes YA paranormal novels and sold 900,000 (mostly e)books last year has agreed to a traditional four book deal.

Domestic Ink for Dollars

A Danvers, MA ink maker claims the U.S. Bureau of Engraving won't test his ink for use on U.S. Currency despite the fact that it's more environmentally friendly than the ink from current supplier SIPCA, a Swiss corporat

Strange Days

Borders asked the bankruptcy court to approve $8.3 million in bonuses to its executives. Publisher Boycott

Author Brian Keene claims thousands of readers have joined him in boycotting Dorchester Publishing over payment issues.

Ebooks are Book Apps

Since ebooks are available at the iTunes app store, they are now called book apps or just apps.

Pricing Digital Books

Lost in the ebook hype is its unusual business model (see Agency Model above). Amazon can lose money on Kindle ebook titles (and on the Kindle itself) while others price by the guesstimate method.

ezines

Google has challenged Apple's revenue sharing model by offering magazine publishers 90% of the subscription price vs. Apple's current 70%. Google One Pass shares it's consumer information with publishers; Apple will share only if the consumer approves.

A Smart Kindle?

There's speculation that the introduction of the iPad 2 and Motorola Xoom is forcing Amazon to consider upgrading Kindle to be more than just a reader with Google's Android O/S.

Magazines vs iPad ezines

iPad owners seem to drift away from articles they're reading; good for advertisers but editors need to rethink how to adapt magazine articles to ezines.  
App Irony

This children's app (based on a 2004 book) chronicles a bookmobile librarian who gets lost and ends up at the zoo teaching animals to read.

Final Thought

...books enkindle and inflame our minds... by their own warmth and attractiveness...

Petrarch (1304-1374)

Grub Street Printing Newsletter #23, March 2011

What Went Wrong at Borders?

Including Borders' bungled web site and slow reaction to digital books, this insider lists six mistakes that led to its bankruptcy. One reason was the early (and sustained) commitment to music CDs both in inventory and floor space that channeled too much energy and resources away from books. And when the retail CD market cratered …

Borders Store Closings

Borders has asked the bankruptcy court for permission to close 200 stores. The stores combined to lose $2 million per week or over $100 million per year. Borders 2010 losses through late December were estimated at $168 million.

End of Physical Bookstores?

Every twitch in the retail book market spurs new conjecture about the death of physical books. The Borders' bankruptcy has started discussion about the possible death of brick and mortar bookstores.

Or, Will the Indies Return?

Another thought is that the bankruptcy might signal a decrease in the influence of the chain bookstores, heralding a renaissance of the independent booksellers.

Lerner Focuses on Content

While discussing the challenges of the marketplace, Adam Lerner, Publisher at Lerner Publishing Group, said that focusing on the hardware and software of the book industry instead of content can be a costly publisher mistake.

Protests of HarperCollins eBook Policy

Harper Collins has just announced a policy that would limit how many times a library could loan out a HarperCollins eBook to 26. You can read some of the protests here on Twitter.

B&N PubIt

Barnes & Noble introduced a production/ retail platform for self publishers last October called PubIt. Early reports indicate that the service has been widely accepted having made 65,000 titles available in less than six months, but sales figures haven't been released.

B&N/Amazon Feud

Amazon has been fighting sales tax issues in a number of states, including some that have Amazon warehouses in them. After threatening to close its Texas warehouse, B&N sent this letter to Amazon reminding them that it pays sales tax on every sales it transacts...and will be happy to work with Amazon affiliates.

Lacey Act News

The complexities of complying with and enforcing the Lacey Act are discussed from the manufacturing point of view.

Literary Games

If you're a fan of Samuel Beckett's surreal play Waiting for Godot, an equally surreal video game/tribute has been released. A similarly unique game version of The Great Gatsby is also available.

Tax Tips for Authors, Freelancers, etc.

It's that time. Here are some links to tax tips for creative independents in the publishing industry.

New Publisher Tools from WordPress

WordPress has made three new digital tools available for publishers to put their books online. An interesting presentation explains them.

Final thought

If I were blind, I would still take pleasure in holding a beautiful book. Sylvestre de Sacy

********************************************************Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

Grub Street Printing Newsletter #21, January 2011

Borders Suspends Payments

Borders Group began 2011 by suspending payments to some publishers. Borders per store sales (200 stores have been closed) were off 12.6% in the third quarter.

China, Indonesia Dumping Paper

Both the International Trade Commission and the European Commission have ruled that coated free sheet manufactured in China and Indonesia was “dumped” in the US and European markets below its home market price and additional duties will be imposed on this paper.

Borders B&N Survival

While this article isn't remarkable to those who follow the book industry, I was shocked by the number of comments posted. It seems MSNBC readers have strong opinions about book retailing.

Quad Graphics

Quad Graphics' $1.1 billion purchase of World Color Press (formerly Quebecor World) out of bankruptcy last year has created many manufacturing inefficiencies. The world's largest privately owned printer has six plants with 2,400 employees that have been, or are being, closed.

Eco Friendly Paper: Beyond the Labels

Is using recycled paper always the best environmental choice? Are FSC papers always the most eco-friendly? These questions and more are discussed by an industry expert.

Gray Market Harvesting

31% of all data collected on the internet is obtained by companies who collect data from sites other than their own. In one study of fifty web sites, 167 different companies were actively gleaning customer information from them without the sites owner's knowledge or consent.

2011 Publishing Predictions

Another round of predictions to consider about an industry that must adapt to monthly, if not weekly, paradigm shifts. Is traditional book distribution (still?) on its last legs (again?).

2010 Printer's Wrap-Up

The big stories that affected the print industry in 2010 are right here. Some of the video links at the bottom of the page are pretty funny.

Great Books

On Oct. 5, 1789, President George Washington borrowed “Law of Nations” and a book of debates from the British House of Commons from the New York Society Library. There are over 221 years of late fees that have been forgiven, but the library just wants the books returned.

GPO and Google ebookstore

The US Government Printing Office has allowed Google ebookstore to distribute its backlist titles (which Google has already scanned anyway). Although the arrangement is beginning with only 100 titles, it's expected that thousands of titles will soon be available.

Web Sites Beget Books

While publication of a new title often spawns a new web site, two Chicago authors found the popularity of their sites brought offers from publishers to produce ink and paper books based on their web site content.

Hold Up on Those BEA Plans

According to these folks the world will end on May 21, 2011, two days before BEA opens.

Final Thought

I can't write without a reader. It's precisely like a kiss – you can't do it alone. John Cheever ********************************************************Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

GrubStreetPrinting Newsletter #20 December 2010

It Depends What You Mean by “Recycled”

While the Federal Trade Commission and Environmental Protection Agency work toward an American definition of “recycled paper” the international community already uses a different ISO standard.

If your paper is imported, will it still meet the legal definition of recycled?

Print, Electronic Media and the Price of Paper

This is an extremely insightful interview covering the immediate challenges and the future of the print industry, the impact of new technologies and the need for less expensive paper.

Meet Mooks

A hot topic in Newsletter 13 was “vooks”, a combination of videos and books. Now get ready for “mooks” a combination of magazines and books that seems to be catching on in Japan.

The KVML

If you missed the sneak peak of the soon to open Kurt Vonnegut Memorial Library in Indianapolis, IN, fear not: the Grand Opening is just weeks away.

Digital Inks

The “inks” used by digital output devices are broadly divided as inkjet and toner. As development continues to improve the “inks” and the presses they run on, the notion that one is better than the other in any given application is changing with new press technology.

RAN Ratings

The Rainforest Action Network has published a guide of publishers that don't use paper stocks produced from pulp from rain forest trees, especially Indonesia.(See Newsletter #7)

2010 Word of the Year

The editors of The New Oxford American Dictionary has named Sarah Palin's “refudiate” as the Word of the Year.

The Bad Sex in Fiction Award...

..goes to Rowan Somerville for the unusual imagery used in his book The Shape of Her.

Sales Correction 12 Months Later

Newsletter 14 reported a 12.3% spike in September 2009 book sales. This September book sales fell 12.1% according to the AAP.

Literacy Campaigns

Scribd and Scholastic have announced new literacy campaigns. With a high literacy rate of 19%, the US trails countries like Greenland, where 100% of the population is rated as highly literate.

Before Digital, Before Offset

Over 400 years after Johannes Gutenburg invented movable type for printing presses, Ottmar Merganthaler invented a machine that let printers set type while sitting at a keyboard instead of picking letters out of a type tray. Thomas Edison called it the Eighth Wonder of the World.

An upcoming documentary hopes to show how society was changed by this invention. Here's a promo of the film.

More Print Technology

In contrast to the Linotype (which set a “line of type”) the Espresso 2.0 doesn't make coffee and looks downright fragile compared to Merganthaler's invention.

Final Thought

Books are hindrances to persisting stupidity. Spanish Proverb

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Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

GrubStreetPrinting Newsletter #19 October/November 2010

Digital Solution?

Rice University Press has closed after a last ditch effort to continue operations as an all digital book publisher failed.

Who Makes How Much?

Some surprises in PW's annual salary survey, not least of which is that men still earn more than women, although the industry is comprised primarily of women.

B&N Proxy Fight Cools Sale Interest

A fight for control of Barnes & Noble seems to have stalled a possible sale of the company. Perhaps that was the whole point?

Asian Paper Companies Grow

Paper companies located in China and India continue to grow rapidly. Before you place an order, however, I recommend a quick review, and full compliance with the Lacey Act, as does

R. R. Donnelley.

129,864,880

According to Google, that's the number of unique titles and editions of books written and published in the world. Given Google's view on copyright issues, that's 129,864,880 profit centers waiting to be exploited.

Jargon

Print terminology has evolved more in the past 15 years, as digital production has become more common, than in the preceding fifty years when offset printing supplanted direct (letterpress) reproduction.

Confused by all the jargon? Print Buyers International supplies an online glossary.

More iPad and Kindle

If you're still not sure of the differences between iPad and Kindle this is a good summary. In the eBook wars, according to analysts, each iPad device acquired 2.5 eBooks in the first 3 months they were available. During the same period, Kindle owners purchased 3 books per device.

Fonts, Type and Page Design

The convenience of desk-top publishing has turned font selection and page design into a no-brainer...and some text certainly looks it. But type and book design embody centuries of study, analysis, and creativity, so if you aren't sure about your skills and don't have a design staff here's a primer.

Borders Headquarters For Sale

The 460,00 sq ft building comes with a twelve year lease to Borders, but apparently concerns about Borders long term viability have prompted the landlord to list it for $18+ million. The asking price is said to reflect that concern.

Cruel and Unusual

Coming on the heels of Banned Book Week, a South Carolina sheriff has banned all books except for the Bible at the Berkeley County jail in Moncks Corner, SC.

This list demonstrates how fearful (and intentionally ignorant) the extreme among us can become.

And hey! What about those wild and crazy Moncks Corner cops, eh?

Final Thought

When you sell a man a book, you don't sell him twelve ounces of paper and ink and glue, you sell him a whole new life.

Christopher Morley

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Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

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Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

GrubStreetPrinting Newsletter #18 - August/September 2010

B&N For Sale

Barnes & Noble announced that it will investigate a possible corporate sale to enhance stockholder value.

Kindle News

The introduction of the iPad seems not to have hampered Kindle Reader sales which experienced a sharp increase when the price was lowered to $189.00

Amazon also announced that ebook sales for the Kindle reader have surpassed their sales of hardcover books by a ratio of roughly 1:1.4.

Mid-Year Sales Reports

Sales figures for the first half of 2010 are being released that show that publishers are actively adjusting their market sector mix.

Book Production Methods

While letterpress is no longer commonly used in book printing, even seasoned publishers ask about the differences between offset and digital book production. Here's a primer.

Amazon Exclusive

The Wylie Agency has seized the ebook rights for titles it represents and is offering them exclusively through Amazon, angering brick and mortar bookstores and some copyright holders.

Impressing Booksellers

Suggestions by booksellers for improving publisher relationships with booksellers can be followed on Twitter.

ISBN Info

As more of the publishers I work with are breaking into the industry via digital printing, I've been explaining ISBN numbers more frequently. How much do you know about buying one ISBN number?

Green Printing Tax Credits

Paper mills, printers and publishers may be eligible for federal tax credits under a proposal that would encourage eco-friendly print production. The proposal over-reaches in a few areas but expect a slimmed down version of the credit to become law.

Chasing 13%

Articles in the latest edition of Publishing Executive focus on electronic distribution of magazine content.

Yet in a poll of 1,000 magazine subscribers earlier this year, 87% said they prefer print over digital editions.

Gibson Guitars Busted

Perhaps the first citation under the enhanced Lacey Act protecting rain forest woods occurred when U.S. Fish and Wildlife personnel raided Gibson Guitars in Nashville TN and seized office records, computers and wood samples showing Madagascar rosewood was illegally imported for the manufacture of its guitars.

The Gibson CEO sits on the board of the Rainforest Alliance.

Do you know where the wood pulp used in your book's paper is from? You need to find out.

Enhanced ebooks

In an interview some years ago I was quoted saying that ebooks would command a set portion of the market until they were capable of sound, video and web links.

Meet the enhanced ebook from Simon & Schuster.

Past GrubStreetPrinting.com newsletters available at http://grubstreetnews.blogspot.com/

Grub Street Printing Newsletter #17 - June/July 2010

Book Expo 2010

It wasn't possible for us to attend Book Expo this year, but a number of friends managed to get to NYC and were kind enough to share their experiences.

Nearly everyone mentioned that a two day show is simply too short. Acquiescing to the majority (and angering the NYC publishers) next year's show will resume the three day exhibition format, May 24 -26 at the Javits Center.

The ABA announced a partnership with the forthcoming Google Editions to make digital books available for all e-readers but Amazon's Kindle.

Cursor's Richard Nash explained why copyrights are irrelevant at a morning panel, using Cursor's 3 year contracts as a business model.

Carole Horne of the Harvard Book Store, Cambridge, MA, acknowledged that the store's reliance on an Espresso Book Machine as part of its three pronged “green delivery system” has received an underwhelming response.

And while the BISG gushed about the rise of the e-book (5% of the total market!) the Wall Street Journal questioned proprietary formats in the industry. Further format discussion is ongoing. And concern about piracy and profits haunts many authors and publishers.

Flat Was the New Down

At last years BEA, the BISG predicted modest 1.8% growth for book sales, proclaiming “flat is the new up” (Slide Show page 30). In April the AAP reported that book sales fell 1.8% in 2009.

All Hail iPad

Even though we're more paper and ink than pixels and iAnything, we've received many questions
about e-book formatting this year, and the introduction of the iPad has spurred about half of them. Current info on iPad formats is still being released. If you use Adobe CS or InDesign, this video offers an overview of converting books to the ePub format for iPads (and many other readers).

This blog is an e-book format do-it-yourself guide.

Calligraphy, Typography and Hermann Zapf

Your word processor probably has at least one font created by Hermann Zapf. In the past century he's designed 61 typefaces, including Palatino, Optima, and a collection of dingbats.

CMYK and RGB

There's still confusion about the difference between what your monitor shows and what your printer produces. Additive vs. subtractive color reproduction isn't that hard to understand, but even with all of your devices (monitor, printer, scanner) calibrated, there is no way to perfectly convert RGB colors to CMYK.

Changes at Borders Group (Again)

Borders has shuffled the name plates in the executive wing one more time. Mike Edwards has been named President of Borders Group and CEO of Borders Inc.

Big time Borders investor ($25 million in May) Bennett Lebow is the new Borders Group Chairman of the Board and CEO of Borders Group. Edwards will report to LeBow (in case you were as confused as us).

Past newsletter issues are available at http://grubstreetnews.blogspot.com/

No. 17 June/July 2010