26 November 08 | Chad W. Post

Motoko Rich’s piece in yesterday’s New York Times points out the crazy extremes of the book business in these times, comparing Houghton Mifflin Harcourt’s “temporary” acquisitions freeze with the situation at Hachette:

As first reported by Publishers Lunch, an industry newsletter, Hachette is giving bonuses equal to one week’s salary to every employee in the company, in addition to the regular bonuses for which staff members are eligible.

Why is this possible?

On the surface these twin pieces of news would seem to suggest that success in the book industry, as with other forms of entertainment, is increasingly dependent on the production of major hits, works that are so successful that they can support a family of less successful siblings. David Young, chairman and chief executive of Hachette Book Group, said that the company had racked up 104 New York Times best sellers this year.

Once upon a time, some publishers suggested, they could cultivate under-the-radar authors and slowly build an audience for them over several books. Now, with few exceptions, books tend to come out of the gate at the top of the best-seller list or be deemed failures.

Sounds somewhat like the essay I’ve been serializing . . . The best quote in the article—well, if you’re a bit self-deprecating and ironic—is this one:

“It is seriously going to be a time for known commodities,” said Esther Newberg, a literary agent who represents blockbuster authors like the thriller writers Patricia Cornwell and Linda Fairstein and Thomas L. Friedman, a columnist for The Times. “I would hate to be starting out in the business.”

Uh, shit. At least the foreign authors we’re publishing are household names, you know? Like Ricardas Gavelis . . . Or, um, Ilja Leonard Pfeijffer, both of whom are destined to be Oprah Book Club pics. (Did I mention how an Open Letter subscription makes a great holiday gift?)

Actually, Motoko loaded this piece with great quotes:

“I cannot conceive of ever saying, ‘We’re not buying more books,’ ” said David Shanks, chief executive of Penguin Group USA, another publisher that has had a decent year with successful titles like Eckhart Tolle’s spiritual guide A New Earth and Elizabeth Gilbert’s Eat, Pray, Love, which has continued its best-seller status on the paperback list. “You might as well put up a sign saying, ‘We’re out of business.’ ”


Comments are disabled for this article.
....
A Greater Music
A Greater Music by Bae Suah
Reviewed by Pierce Alquist

A Greater Music is the first in a line of steady and much-anticipated releases by Bae Suah from key indie presses (this one published by Open Letter). Building off of the interest of 2016 Best Translated Book Award longlist nominee. . .

Read More >

Two Lost Souls: on "Revulsion" and "Cabo De Gata"
Two Lost Souls: on "Revulsion" and "Cabo De Gata" by Horacio Castellanos Moya; Eugen Ruge
Reviewed by Tim Lebeau

The dislocation of individuals from the countries of their birth has long been a common theme in contemporary literature. These two short novels recently translated into English appear firmly rooted in this tradition of ex-pat literature, but their authors eschew. . .

Read More >

Melancholy
Melancholy by László Földényi
Reviewed by Jason Newport

In Melancholy, Hungarian author, critic, and art theorist László Földényi presents a panorama of more than two thousand years of Western historical and cultural perspectives on the human condition known as melancholia. In nine chapters, Földényi contrasts the hero worship. . .

Read More >

The Hatred of Music
The Hatred of Music by Pascal Quignard
Reviewed by Jeanne Bonner

Pascal Quignard’s __The Hatred of Music_ is the densest, most arcane, most complex book I’ve read in ages. It’s also a book that covers a topic so basic, so universal—almost primordial—that just about any reader will be perversely thrilled by. . .

Read More >

Fragile Travelers
Fragile Travelers by Jovanka Živanović
Reviewed by Damian Kelleher

In Gustave Flaubert’s Madame Bovary, Flaubert attempted to highlight the ordinary, tired, and often crass nature of common expressions by italicising them within the text. When Charles, Emma Bovary’s mediocre husband, expresses himself in a manner akin to that of. . .

Read More >

Nineteen Ways of Looking at Wang Wei
Nineteen Ways of Looking at Wang Wei by Eliot Weinberger
Reviewed by Russell Guilbault

Eliot Weinberger takes big strides across literary history in his genuinely breathtaking short work, 19 Ways of Looking at Wang Wei, tracking translations of a short ancient Chinese poem from the publication of Ezra Pound’s Cathay in 1915 to Gary. . .

Read More >

Radio: Wireless Poem in Thirteen Messages
Radio: Wireless Poem in Thirteen Messages by Kyn Taniya
Reviewed by Vincent Francone

Prose translators will likely disagree, but I believe translating poetry requires a significant level of talent, a commitment to the text, and near mania, all of which suggests that the undertaking is the greatest possible challenge. The task is to. . .

Read More >

The Subsidiary
The Subsidiary by Matías Celedón
Reviewed by Vincent Francone

The biggest issues with books like The Subsidiary often have to do with their underpinnings—when we learn that Georges Perec wrote La Disparition without once using the letter E, we are impressed. Imagine such a task! It takes a high. . .

Read More >

Thus Bad Begins
Thus Bad Begins by Javier Marías
Reviewed by Kristel Thornell

Following The Infatuations, Javier Marías’s latest novel seems, like those that have preceded it, an experiment to test fiction’s capacity to mesmerize with sombre-sexy atmospheres and ruminative elongated sentences stretched across windowless walls of paragraphs. Thus Bad Begins offers his. . .

Read More >

Death by Water
Death by Water by Kenzaburo Oe
Reviewed by Will Eells

Death by Water, Kenzaburo Oe’s latest novel to be translated into English, practically begs you to read it as autobiography. Like The Changeling, as well as many other works not yet released in English, Death by Water is narrated in. . .

Read More >