Entries tagged with “economy” from Tools of Change for Publishing

Philadelphia Closing 11 Library Branches

Peter Brantley
November 7, 2008 | Permalink | Comments (0) | Listen

The financial crisis is having a huge negative impact on many public sector services, including libraries. From Publishers Lunch (subscription required):

As municipalities across the country face large gaps in their budget, Philadelphia is taking "drastic new steps" to face the "economic storm" that include closing 11 of the 54 branch libraries that comprise the Free Library of Philadelphia. Three other branches will have Sunday hours eliminated. Mayor Michael Nutter said the branches were chosen "after careful review of building conditions, utilization and distance to other libraries in the Free Library system." Cutting 220 jobs throughout the city government, approximately one third of those layoffs will come from the library staff.

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Publishers Rush Economic Crisis Books

Mac Slocum
October 10, 2008 | Permalink | Comments (0) | Listen

The Economist says book publishers are rushing to cash in on the economic turmoil bubbling up across world markets:

Like any good bank in the pre-crash days, some publishers are splashing out to secure talent. Penguin's American arm has been particularly eager, bagging four inky-fingered "stars" in the past month, reportedly at a cost of over $2m in advances.

The Economist notes that long publishing deadlines may prevent book publishers from capitalizing on the current flush of consumer interest (and worry), especially if the situation stabilizes. But traditional publishing's burden is Web publishing's gain: Beet.TV says The Wall Street Journal's impeccably timed Web redesign coincided with record traffic, and there's been a surge in interest for NBC, BBC and Reuters Web properties.

(Via Shelf Awareness)

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