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.
The recent reissuing of several of Stig Dagerman’s novels by University of Minnesota Press has rekindled interest in his works, which have until now been little-known outside Sweden. Just twenty-four when he wrote A Burnt Child (here newly translated by. . .
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,. . .