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.
Rambling Jack
Rambling Jack by Micheál Ó Conghaile
Reviewed by Vincent Francone

“Rambling Jack—what’s that?”
“A novel. Novella, I guess.”
“Yeah, it looks short. What is it, a hundred pages?”
“Sorta. It’s a duel language book, so really, only about… 50 pages total.”
“50 pages?”
“Including illustrations.”
“And this—what. . .

Read More >

The Things We Don't Do
The Things We Don't Do by Andrés Neuman
Reviewed by Tiffany Nichols

Many authors are compared to Roberto Bolaño. However, very few authors have the privilege of having a Roberto Bolaño quote on the cover of their work; and at that, one which states, “Good readers will find something that can be. . .

Read More >

Private Life
Private Life by Josep Maria de Sagarra
Reviewed by Christopher Iacono

In Josep Maria de Sagarra’s Private Life, a man harangues his friend about literature while walking through Barcelona at night:

When a novel states a fact that ties into another fact and another and another, as the chain goes on. . .

Read More >

Dinner by César Aira
Reviewed by Lori Feathers

César Aira dishes up an imaginative parable on how identity shapes our sense of belonging with Dinner, his latest release in English. Aira’s narrator (who, appropriately, remains nameless) is a self-pitying, bitter man—in his late fifties, living again with. . .

Read More >

We're Not Here to Disappear
We're Not Here to Disappear by Olivia Rosenthal
Reviewed by Megan C. Ferguson

Originally published in French in 2007, We’re Not Here to Disappear (On n’est pas là pour disparaître) won the Prix Wepler-Fondation La Poste and the Prix Pierre Simon Ethique et Réflexion. The work has been recently translated by Béatrice Mousli. . .

Read More >

The Queen's Caprice
The Queen's Caprice by Jean Echenoz
Reviewed by Christopher Iacono

Even though the latest from Jean Echenoz is only a thin volume containing seven of what he calls “little literary objects,” it is packed with surprises. In these pieces, things happen below the surface, sometimes both literally and figuratively. As. . .

Read More >

French Concession
French Concession by Xiao Bai
Reviewed by Emily Goedde

Who is this woman? This is the question that opens Xiao Bai’s French Concession, a novel of colonial-era Shanghai’s spies and revolutionaries, police and smugglers, who scoot between doorways, walk nonchalantly down avenues, smoke cigars in police bureaus, and lounge. . .

Read More >

Anna Karenina
Anna Karenina by Leo Tolstoy
Reviewed by Christopher Iacono

For the past 140 years, Anna Karenina has been loved by millions of readers all over the world. It’s easy to see why: the novel’s two main plots revolve around characters who are just trying to find happiness through love.. . .

Read More >

The Cold Song
The Cold Song by Linn Ullmann
Reviewed by David Richardson

Linn Ullmann’s The Cold Song, her fifth novel, is built much like the house about which its story orbits: Mailund, a stately white mansion set in the Norwegian countryside a few hours drive from Oslo. The house, nestled into the. . .

Read More >

This Life
This Life by Karel Schoeman
Reviewed by P. T. Smith

Karel Schoeman’s Afrikaans novel, This Life, translated by Else Silke, falls into a genre maybe only noticed by the type of reader who tends toward Wittgenstein-type family resemblances. The essential resemblance is an elderly narrator, usually alone—or with one other. . .

Read More >

The next few events from our Translation Events Calendar: See More Events >