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February 23, 2009

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Linda L. Richards

Very well put! This is a message I keep trying to share as well: stop with the "sky is falling," already. Books are good. People are reading. The delivery formats may morph, the way we talk about books may change but you will pry a book -- be it paper, electronic or some other currently unimagined format -- from my cold, dead hand.

Kevin Smokler

Exactly. Sometimes I think the bitter traditionalists in our business never listened to their own mothers and grandmothers. Or shrinks. Relentless negativity and doomsdaying is a sign of self-hatred and insecurity. So I would ask the Dick Meyers of the world: "If they think what they do is so valuable, why are they so quick to predict its demise?"

Dumbo Books of Brooklyn

On the other hand, some of us old-fashioned book publishers are in deep doo-doo. Por ejemplo, today we had to issue the following press release:

"Dumbo Books of Brooklyn has announced that it filed for Chapter 11 protection from its creditors on Monday, saying a massive slump in revenue from book sales was to blame.

The company owns a small press publisher of literary books and three nondaily online newspapers, including The Los Angeles World-Telegram & Star, and has about 3.5 employees.

According to Richard Grayson, the company’s chief restructuring officer who filed a declaration in the case, unaudited financial statements for the fiscal year ending Nov. 30 reported $5,963 in assets and $18,692 in debt, including unpaid interest. Revenue has fallen more than 70 percent since 2006, the company said in bankruptcy court documents filed in Delaware.

Grayson said in a statement that Dumbo Books 'anticipates that the Chapter 11 process will allow it to significantly reduce debt from its balance sheet while facilitating a strategic reorganization of the company, which will place it in the strongest possible position to sustain its momentum despite extremely challenging market conditions for books like Who Will Kiss the Pig? Sex Stories for Teens, which up until recently was 3,765,633 on Amazon's best seller list.'

Dumbo Books, based in the Williamsburg neighborhood of Brooklyn despite its name, proposes a restructuring in which it would cancel its stock — it traded for less than one cent on Friday — and become controlled by its lenders.

Grayson called the filing 'ironic,' noting, 'Just like most of the few remaining readers of our books, we couldn't get past Chapter 11.'"

Katharine Weber

Thank you for that, Richard.

This is precisely the reason my forthcoing novel has only ten chapters.

M.J. Rose

Richard - while I am totally sympathetic Dumbo's problem isn't because newspaper book sections are being shut down. Book reviews are not what sells books nor what doesn't sell them but are one small part of getting the word out.

There's no question the models are changing and change is tough on us all. But changing doesn't mean dying.

Paul Elwork

I have to admit that I'm not in love with the idea of e-books becoming the dominant form, but I'm prepared to see it happen (I think) and I know it's not the end of books in the conceptual--and most important--sense. The sky will not fall. But I sincerely hope and trust that books in the form we've come to know and love, in paper and cloth, print and binding, remain in the world, even if in a smaller, more specialized market, as some non-gloom-and-doomers are suggesting.

Kevin Smokler

While I am quite sympathetic to Mr. Elwork's position and don't think that physical books are going anywhere (the format has faced many foes and beaten them all), I would hasten not to frame M.J's post in those terms. What is at issue here is much larger than a simple Ebooks v. Physical Books dichotomy. Instead the absolute need for book publishing to accept and join the realities of being in the culture business in the 21st century. And that's about a lot more than the next version of the Kindle.

Paul Elwork

Fair enough--but my point is that I prefer the print book format over any other forms for consuming books, and that it means a lot to me that they'll still be around. I also realize that the larger discussion includes a long overdue rethinking of the traditional print-book business, which seems wasteful and antiquated right down to its roots. So, yeah, ad astra, hey ho let's go, etc. I'm in.

David J. Montgomery

The death of book reviews has much, much more to do with the death of newspapers than it does with the death of books or reading. The two concepts are separate.

Ryan Holiday

MJ,

I've read this blog for a long time now but never felt compelled to comment.

2,700 clicks on 4 million impressions is a HORRENDOUS click through rate.

I'm not saying your central point is incorrect but that is an incredibly inefficient advertising campaign. I wouldn't be bragging about it.

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By M.J. Rose

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  • Seen on FOXTV as PAST LIFE : The Reincarnationist

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    THE REINCARNATIONIST. Starred Library Journal Review. Starred Publisher's Weekly Review. Booksense Pick for September and 2007 Highlight List. "A fascinating story of reincarnation that is one of the year's most ambitious and entertaining thrillers." - David Montgomery - Chicago Sun-Times

  • May 2010 : The Hypnotist - Best of 2010 Fiction - January Magazine

    May 2010 : The Hypnotist - Best of 2010 Fiction - January Magazine
    "Stunning page-turner" PW - (Starred)-------------- "In the third transfixing thriller in her Reincarnationist series, Rose continues to excite readers with enthralling tales of lives past and present interconnecting." Library Journal

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    People Magazine Pick of the Week : The Memorist
    "Gripping… Rose once again skillfully blends past and present with a new set of absorbing characters in a fascinating historical locale." - Starred Review, Library Journal ------------------------------ "Rose's fascinating follow up to The Reincarnationist... skillfully blends past life mysteries with present day chills. The result is a smashing good read." -Starred Review, Publisher's Weekly

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