A long moment of silence.
J.D. Salinger, who had lived in famous isolation for the last half century, died Wednesday at his home in Cornish, N.H. He was 91.
He is best known for The Catcher in the Rye as well as the story collections Franny and Zooey and Raise High the Roof Beam, Carpenters and Seymour: An Introduction. Our particular favorite was Nine Stories, which contained "For Esme--With Love and Squalor" and "The Laughing Man," two of our favorite stories of all time.
The New York Times has a long obituary.
For an unusual appreciative point of view, check out Larry Hughes' Classics Rock! for a discussion of songs based on The Catcher in the Rye and songs that reference the late Howard Zinn.
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In a story about Amazon's fourth-quarter results, the
Wall Street Journal quoted Sandeep Aggarwal, an analyst at Collins Stewart, who estimated that the Kindle will "likely contribute $980 million in revenue and $250 million in gross profit in 2010."
And in a comment on Amazon's improvement in its operating margin--to 5% from 4.1% a year earlier--Ben Schachter, a Broadpoint AmTech analyst, said, "The real issue is that they're getting better terms from suppliers. It shows what power these guys have in the retail channel."
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Just a day after CEO Ron Marshall left to become CEO of the Great Atlantic & Pacific Tea Company (Shelf Awareness, January 27, 2010), Borders Group has laid off 124 corporate employees, about 10% of corporate staff. Some 88 were in the company's Ann Arbor, Mich., headquarters, many of them from technology and finance departments. In addition, another 40 employees at two warehouses, in Nashville, Tenn., and Mira Loma, Calif., were laid off.
Borders spokesperson Anne Roman told the Wall Street Journal that there were some redundancies in technology and finance in recent months because various computers systems had been combined into one. But the key reasons for the layoffs were to "manage the payroll in a way that is responsive to its level of sales. Also, the company is dedicated to increasing cash flow and reducing debt, which means it must keep its expenses in line."
Sales at Borders have dropped substantially in the last three quarters, and holiday sales were particularly disappointing, falling 13.7%, nearly three times that of bricks-and-mortar rivals Barnes & Noble and Books-A-Million.
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The troubles for Borders Group may be national in scope, but they're also having a significant impact on Ann Arbor, Mich. AnnArbor.com reported that "the community remains a stakeholder as the bookseller sorts out its future amid industry turmoil, leadership changes and falling investor confidence."
In addition to property taxes, the "company employs nearly 900 in Washtenaw County, with about 800 of those people at the headquarters at 100 Phoenix Dr. and the rest spread among the three retail locations," AnnArbor.com wrote.
"One of the things getting tangled up in all of this is the faces. The employees," said Ed Shaffran, a downtown Ann Arbor developer and landlord.
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The Motley Fool recommended "5 Non-Investing Books Every Investor Should Read" on MSNBC.com: The Checklist Manifesto by Atul Gawande, The Drunkard's Walk by Leonard Mlodinow, Why Zebras Don't Get Ulcers by Robert Sapolsky, Empire: The Rise and Demise of the British World Order by Niall Ferguson and Simplexity by Jeffrey Kluger.
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The Ohio Supreme Court has ruled that booksellers and other owners of "generally-accessible" websites cannot be prosecuted under a 2002 Ohio law that makes it a crime electronically to disseminate to minors material that is "obscene or harmful."
Plaintiffs in the case include the American Booksellers Foundation for Free Expression, the Association of American Publishers, the Freedom to Read Foundation and other members of Media Coalition. ABFEE president Chris Finan called the decision "an important step toward narrowing the law in a way that protects free speech, but we still have concerns."
An Ohio appeals court will now try to decide if the law is constitutional and whether newspapers and other sites that charge for content or otherwise limit access might be subject to prosecution.
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Congratulations to Daedalus Books, Columbia, Md., which has turned 30. The company began in 1980 in a small warehouse with a staff of eight. It now has more than 150 employees who sell remainder books, CDs and DVDs on a wholesale basis as well as to consumers online, in two stores and through nine million catalogues.
"We've never lost our focus on the kinds of books that drew us into this business 30 years ago," president Robin Moody said. "We still care about reading and selling good books, as well as quality CDs and DVDs."
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This spring the Clinton Book Shop, Clinton, N.J., is moving to a new location, a building built in 1898 with a cast iron facade and once the home of the first library in Clinton. In an e-mail to customers, owner Harvey Finkel said that the new location, one block from the store's current site, will make the store "accessible from both East Main Street and Rt. 173." The store will also have its own parking spaces.