15 April 09 | Chad W. Post

Yesterday it was announced that Moody’s has downgraded Houghton Mifflin Harcourt’s rating, which sounds sort of familiar . . . probably because they did the same thing last December.

This isn’t good news for the Education Media & Publishing Group—which is incorporated in the Cayman Islands and owns HMH—but rather than pick on HMH for its mishandling of Drenka Willen’s retirement, or for telling the media about their freeze on acquisitions, I’d rather just point out the frightening statistic that triggered this downgrading:

Moody’s maintains that HMH remains vulnerable to state and local spending in the United States on so-called basal and supplemental K-12 (twelfth grade) educational publications. It says those categories posted a 22.8pc decline in sales in January 2009. (from Independent.ie)

A 22.8% decline in sales in one month is pretty severe, especially when talking about educational publications. Book sales overall were flat in January, although they did plunge in February (like all other retail sales) by more than 10%.

On the positive side of things, Cees Nooteboom—one of Drenka’s authors—has been getting some good buzz for Nomad’s Hotel, such as this write-up in Flavorpill’s Daily Dose. And Filip Florian—another HMH author whose Little Fingers sounds pretty interesting, and is under review—will be the feature author at the Observer Translation Project next month.


Comments are disabled for this article.
....
The Seven Good Years
The Seven Good Years by Etgar Keret
Reviewed by Vincent Francone

It’s a rare and wonderful book that begins and ends with violence and humor. At the start of Etgar Keret’s The Seven Good Years, Keret is in a hospital waiting for the birth of his first child while nurses, in. . .

Read More >

Human Acts
Human Acts by Han Kang
Reviewed by J.C. Sutcliffe

Last year, Han Kang’s The Vegetarian was an unexpected critical hit. Now, it’s just been published in the U.S. and has already received a great deal of positive critical attention. The Vegetarian was a bold book to attempt as an. . .

Read More >

Nowhere to Be Found
Nowhere to Be Found by Bae Suah
Reviewed by Pierce Alquist

It’s been almost a year since the publication of Nowhere to Be Found by Bae Suah, but despite being included on the 2015 PEN Translation award longlist, and some pretty vocal support from key indie presses, the book has. . .

Read More >

La paz de los vencidos
La paz de los vencidos by Jorge Eduardo Benavides
Reviewed by Brendan Riley

Jorge Eduardo Benavides’ novel La paz de los vencidos (The Peace of the Defeated) takes the form of a diary written by a nameless Peruvian thirty-something intellectual slumming it in Santa Cruz de Tenerife in Spain’s Canary Islands. Recently relocated. . .

Read More >

Souffles-Anfas: A Critical Anthology
Souffles-Anfas: A Critical Anthology by Various
Reviewed by Emma Ramadan

Anyone with any interest at all in contemporary Moroccan writing must start with Souffles. A cultural and political journal, Souffles (the French word for “breaths”) was founded in 1966 by Abdellatif Laâbi and Mostafa Nissabouri. Run by a group of. . .

Read More >

Berlin
Berlin by Aleš Šteger
Reviewed by Vincent Francone

Randall Jarrell once argued a point that I will now paraphrase and, in doing so, over-simplify: As a culture, we need book criticism, not book reviews. I sort of agree, but let’s not get into all of that. Having finished. . .

Read More >

The Gun
The Gun by Fuminori Nakamura
Reviewed by Will Eells

Like any good potboiler worth its salt, Fuminori Nakamura’s The Gun wastes no time setting up its premise: “Last night, I found a gun. Or you could say I stole it, I’m not really sure. I’ve never seen something so. . .

Read More >

This Place Holds No Fear
This Place Holds No Fear by Monika Held
Reviewed by Lori Feathers

Heiner Resseck, the protagonist in Monika Held’s thought-provoking, first novel, This Place Holds No Fear, intentionally re-lives his past every hour of every day. His memories are his treasures, more dear than the present or future. What wonderful past eclipses. . .

Read More >

The Room
The Room by Jonas Karlsson
Reviewed by Peter Biello

If you’ve ever worked in a corporate office, you’ve likely heard the phrase, “Perception is reality.” To Björn, the office worker who narrates Jonas Karlsson’s novel The Room, the reality is simple: there’s a door near the bathroom that leads. . .

Read More >

Thérèse and Isabelle
Thérèse and Isabelle by Violette Leduc
Reviewed by Kaija Straumanis

I recently listened to Three Percent Podcast #99, which had guest speaker Julia Berner-Tobin from Feminist Press. In addition to the usual amusement of finally hearing both sides of the podcast (normally I just hear parts of Chad’s side. . .

Read More >

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