Old Friends, New Faces

The Cadence Group, like several of our friends, is preparing for next week's book extravaganza in New York at BEA. 

This year, the face of the show may look a little different. Many of our old friends will not be attending. Some won't go at all, others will be sending a limited staff. The show is expected to be a little smaller and a little less attended than years past.

We do believe, however, that getting together with a great group of book lovers will be a time of excitement for our industry. We're looking forward to perusing some of the new technologies, new titles, and "out of the box" concepts--those that have been announced and those that will surprise us on the show floor.

While we will miss some of our old friends, we're excited to "meet" several of our new friends and clients.  And most importantly, we're looking forward to seeing what great things the book industry has planned for the future.

Are things turning around for Borders?

Three months ago, it was announced that Borders was seeking to combine existing stocks in an attempt to bolster their stock prices to above a dollar. Three weeks ago, they announced that their stocks had risen above a dollar all on their own. The cost cutting and new management policies put into place by Ron Marshall seemed to be working. Investors were impressed and the stock has been rising ever since. Last closing, BGI was traded at $2.62.

Business journals that had recently written off the book retailer are now pointing to BGI's possible rejuvenation. Reporters, who in February named Borders as one of the top 10 companies guaranteed to fail in 2009, are now heralding a new day at BGI.

Will Marshall's changes be good for the company? What do you think of Borders' "turn-around"?

Do You Go To Author Events?

One of the things we do here at the Cadence Group is set up author tours.

It is getting harder and harder to convince stores to agree to host our touring authors. It's not that they don't want to offer their customers an event, it's just that they cannot afford to.

Staff at bookstores nation-wide has been cut very deeply and stores do not have the staff to work an author event.

It is hard to convince a cash-strapped bookstore owner to staff up for an event when there is a good chance no one will show up. The extra staffing costs for even one disappointing evening can kill a store's profit.

So... my question for you is.... do you go to events at bookstores?