Tag Archives: business

Bill Gates Calls a 1969 Business Book a Favorite, Book Becomes Bestseller

business adventuresAs it turns out, the more power you have, the more money you have, the more influence you have — even on readers.

According to Entertainment Weekly, a business book from 1969 flew to the top of the bestsellers list after Microsoft CEO Bill Gates mentioned it as his favorite book in an essay he wrote for The Wall Street Journal earlier this month.

Bill Gates’ mention of John Brooks’ Business Adventures: Twelve Classic Tales from the World of Wall Street in The Wall Street Journal sent the book to the No. 5 spot on the Amazon Kindle bestseller list. The book was published in 1969 and is no longer in print. But the book’s publisher, Open Road, quickly made it available in e-book format, and a paperback re-issue is now slated for September. In the essay, Gates wrote “Today, more than two decades after Warren [Buffett] lent it to me—and more than four decades after it was first published—Business Adventures remains the best business book I’ve ever read.”

Will you be buying the book?

Get Business Adventures in paperback for $10.34. — starting August 12, 2014!

Leave a comment

Filed under News Articles

Microsoft Invests $300M in New Nook Subsidiary

Could the Barnes and Noble Nook  soon be getting a massive upgrade? That’s still up for debate, but it sure has gotten a huge financial boost, thanks to Microsoft.

According to the L.A. Times, Microsoft, which has stayed out of the e-reader business until now, is now giving Barnes and Noble $300 million for its new Nook-led subsidiary. As previously reported, the new branch of Barnes and Noble is something the company’s been considering for the past few months.

The subsidiary, which would act as an entirely separate Nook-led branch under B&N’s umbrella, has the temporary name Newco. Microsoft will get a 17.6 shares in the spinoff. As Carolyn Kellogg points out, however, it’s odd that Barnes and Noble chose Microsoft — of all companies — to help them out.

Microsoft’s investment was, at least by most in publishing, unexpected. Last we heard, Microsoft was suing Barnes & Noble over alleged patent infringements related to the Nook, which could have blocked importation to the U.S. after its offshore manufacture. As part of the new Nook deal, Microsoft and Barnes & Noble announced settlement of the patent suit.

Now that the two companies have kissed and made up, some are wondering what advancements could be made to the second-place e-reader — behind Amazon’s Kindle — with all that extra money.

So I ask you, fellow Nook users, what kind of improvements would you like to see? How do you think Microsoft could change the future of Barnes and Noble, if at all?

Leave a comment

Filed under News Articles

Nook Considers Spinoff, Stock Tumbles

Investors are on edge after Barnes and Noble announced last week it was considering spinning off its Nook business.

Nook has been a beacon of hope for the company, whose physical book sales are otherwise plummeting, much like Borders before it went under. But according to this article by The Street, Barnes and Noble officials are hoping that a spinoff would allow the Nook to expand further, both nationally and internationally. B&N CEO William Lynch explains.

“We see substantial value in what we’ve built with our Nook business in only two years, and we believe it’s the right time to investigate our options to unlock that value,” said CEO William Lynch. “In Nook, we’ve established one of the world’s best retail platforms for the sale of digital copyright content. We have a large and growing installed base of millions of satisfied customers buying digital content from us, and we have a Nook business that’s growing rapidly year-over-year and should be approximately $1.5 billion in comparable sales this fiscal year. Between continued projected growth in the U.S., and the opportunity for Nook internationally in the next 12 months, we expect the business to continue to scale rapidly for the foreseeable future.”

The company says there’s no guarantee that the Nook will branch off from B&N and won’t say anything further until a decision is made.

That being said, stocks plummeted when the news broke, which does not bode well should Barnes and Noble decide to spin off the Nook.

As far as  I’m concerned, the Nook will do well no matter where it sells or who owns it. But it’s a matter of how it will affect B&N. Should it spin off, B&N might suffer the same fate Borders did, and that would be a huge loss for readers everywhere.

2 Comments

Filed under News Articles

Borders Bust Hurting More Than Just Books

When Borders announced it would liquidate its remaining 400 stores earlier this summer, it was no surprise that it would hurt the book industry. But what some may not have realized is that it also hurts magazines.

As you may recall, there are walls of newsstands filled with magazines inside both Borders and Barnes and Noble. I can remember a number of Friday nights spent with my friends in high school, just flipping through magazines at our local bookstore. We read all the juicy, gossipy ones our parents wouldn’t let us subscribe to.

But among those newsstands are lesser-known magazines — ones like Mother Jones, Witches and Pagans, and Crone. They’re smaller publications that don’t get the popular placement in supermarket checkout lines like People or Cosmopolitan.

According to this article by The News Frontier, with Borders going out of business, these smaller publications are suffering. And they don’t have many other options, as Alysia Santo explains:

She says Borders’ closing leaves her at a huge loss because there are very few outlets interested in stocking magazines which are specifically aimed at “pagans, witches, and goddess worshippers.” “I’m not checkout stand material,” says Niven. “People aren’t necessarily going to want to see a magazine about witches next to their gum.”

Add to that the financial burden of the magazines that don’t get sold before Borders closes, and these publications are already halfway out the door. Now they’re relying almost solely on subscribers.

It’s a sad time for the little guys. Will they ever come out on top?

1 Comment

Filed under News Articles

Borders is a Bust

All sales are final. As of tomorrow, Borders Bookstore is officially a bust. The once-popular chain will begin closing its remaining 400 stores nationwide, not only emptying shelves, but eliminating 11,000 jobs as well.

This comes after months of bankruptcy and failed attempts to sell and resurrect itself. So where did Borders go wrong?

1. The obvious reason; we are entering the digital world of paperless-ness. In fact, we are already in it. As online [book] shopping, e-readers, and tablets become more popular, the desire to buy a physical book is null and void.

2. As this WSJ article explains, other products in the store were beginning to hide the books altogether. As we all know, bookstores aren’t really just bookstores anymore. They’re fully equipped entertainment outlets, selling CDs, DVDs, and magazines. But once you start shielding the core of the store behind other products, the focus becomes unclear, as Matthew Dolan explains in his article:

Customers began to notice what made Borders distinctive was also disappearing. In Store No. 1, there are still books galore. But to reach them, customers must navigate through aisles of toys, stuffed animals, greeting cards, gift bags, compact discs and DVDs.

3. Barnes and Noble is better. I’ve always been a B&N girl myself. It may be the Starbucks cafe in each store. It might be the layout and look of the store. There’s also a good chance it’s the growth the company has seen after taking on the Nook, which is far more popular than Borders’ Kobo. Either way, it’s the number one bookstore nationwide, and Borders just couldn’t top it.

Whatever the reason, it’s sad to see such a staple leave the industry and say goodbye to thousands of employees, as well. What I’m wondering is, is there something Borders could have done to improve and save itself? What do you think?

***Here is another WSJ article that explains more about the financial struggle of Borders.

6 Comments

Filed under News Articles