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.’ ”
Paul Klee’s Boat, Anzhelina Polonskaya’s newest bilingual collection of poems available in English, is an emotional journey through the bleakest seasons of the human soul, translated with great nuance by Andrew Wachtel. A former professional ice dancer(!), Polonskaya left the. . .
In Seiobo There Below, Lázló Krasznahorkai is able to succeed at a task at which many writers fail: to dedicate an entire novel to a single message, to express an idea over and over again without falling into repetition or. . .
There are curious similarities in three Italian mystery series, written by Maurizio de Giovanni, Andrea Camilleri, and Donna Leon.1
They’re all police procedurals, and all set in Italy: Naples, Sicily, Venice.
The three protagonists are Commissarios: Luigi Ricciardi, Salvo. . .
Poetry always has the feel of mysticism and mystery, or maybe this feeling is a stereotype left over from high school literature class. It is generally the result of confusion, lack of time committed to consuming the poetry, and the. . .
Our Lady of the Flowers, Echoic is not only a translation, but a transformation. It is a translation of Jean Genet’s novel Notre Dame des Fleurs, transmuted from prose to poetry. Originally written in prison as a masturbatory aid (Sartre. . .
Equal parts stoner pulp thriller and psycho-physiological horror story, a pervasive sense of dread mixes with a cloud of weed smoke to seep into every line of the disturbing, complex Under This Terrible Sun. Originally published by illustrious Spanish publishers. . .
From the start, Daniel Canty’s Wigrum, published by Canadian press Talonbooks, is obviously a novel of form. Known also as a graphic designer in Quebec, Canty takes those skills and puts them towards this “novel of inventory” and creates a. . .
Throughout his career—in fact from his very first book, Where the Jackals Howl (1965)—the renowned Israeli writer Amos Oz has set much of his fiction on the kibbutz, collective communities he portrays as bastions of social cohesion and stultifying conformity. . .
Antoon gives us a remarkable novel that in 184 pages captures the experience of an Iraqi everyman who has lived through the war with Iran in the first half of the 1980s, the 1991 Gulf War over the Kuwaiti invasion,. . .
Every fictional work set in L.A. begins with a slow crawl through its streets in the early hours of the morning right after sunrise. Maybe it’s always done this way to emphasize the vast sprawl of the city and highlight. . .