Books (Photo credit: henry…)
I had a great idea for character development recently. But I haven’t had time to write it up yet, so I’ll just leave this as a hook for my next post 8^).
I just arrived home from my trip late Friday night, and a friend’s wedding took all of my Saturday. Thankfully, today is a holiday in Canada. I’m still recovering and getting caught up on email and other things.
So I’m just going to quickly mention a blog I follow that has pointed me to some great deals: Kindle Review. They publish a daily list of good free e-books and daily deals from Amazon, typically one to eight per genre. These are usually short term promotions, and must be acted on quickly.
Of course, you can always go to Amazon and get the full list of freebies and daily deals. But given the free-for-all of self-publishing, this is kind of like going through an agent’s slush pile. The people at Kindle Review have already done this for you, providing a curated list. Continue reading
Houghton Mifflin Harcourt in Boston, Massachusetts (Photo credit: Wikipedia)
Another publisher bankruptcy. I saw this last Friday in this post on the Passive Voice blog: Houghton Mifflin Harcourt Enters Bankruptcy Process.
The article blames the bankruptcy on debt from leveraged buyouts in 2006 and 2007. It seems they were in trouble almost right away, having temporarily stopped acquiring new books in 2008. No mention of e-books or self-publishing playing a role.
This also seems a bit unusual in that a Chapter 11 deal was pre-negotiated with over 70% of senior lenders and bondholders (those with first dibs on assets in a liquidation) to convert their $3.1B debt to equity. I suspect the “negotiation” was along the lines of “your only alternative is to take five cents on the dollar in a liquidation” (they have $135M cash on hand, 4.4% of their debt; not sure of other assets but the lawyers and accountants would chew up a large chunk).
No word on what their current shareholders think of this massive dilution in their investment. But again, it’s likely a case of “you can take a haircut or a beheading.” Continue reading
Amazon (Photo credit: edgeplot)
I want to talk today about Amazon and how it exercises its self-interest.
There’s been a lot of
ranting discussion about Amazon lately. Various news articles and blog posts more or less accuse them of being evil for, among other things: