publishing

Stateside
3:38 pm
Wed August 7, 2013

The history of the American postcard can be traced back to Detroit

Boston Public Library Flickr

An interview with photojournalist and filmmaker John Collier.

Sadly, posting a photo or video from your smartphone onto Facebook or Twitter seems to have supplanted the good old postcard.

But there is a rich history to the American Picture Postcard and it centers on Detroit.

The "City That Put the World on Wheels" is also the city that turned out millions and millions of American postcards.

John Collier spent three decades as a photojournalist for the Detroit Free Press.

He is also a filmmaker who has turned his love of postcards into a documentary that’s called “My Postcard Collection: The Detroit Publishing Story: A History of the American Picture Postcard.”

John Collier joined us today in the studio.

For more information, go to http://www.mypostcardcollection.net/

Listen to the full interview above.

Arts/Culture
4:06 pm
Fri July 15, 2011

U of M Press to publish serialized books online

The U of M Press is bringing serialized books back.
user mconnors morgueFile

A Michigan book publisher is using social media to update a popular 19th century publishing method made famous by Charles Dickens.

The University of Michigan Press will serialize two new novels using Facebook, beginning July 18.

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Economy
9:12 am
Thu February 17, 2011

Borders: What's Next?

Books sit on the shelf in a Borders bookstore
(photo by Steve Carmody/Michigan Radio)

Borders Books’ successful trip through bankruptcy is contingent on deals with publishers.    Borders filed for bankruptcy protection Wednesday. 

Court documents show the Ann Arbor-based bookseller owes more than $150 million to 7 publishers, including Simon & Shuster, Random House and Penguin.    Borders has also been delaying payments to publishers since December. 

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Economy
1:56 pm
Tue February 15, 2011

Could a Borders bankruptcy be a boom for independent bookstores?

A customer buys a book at a Borders bookstore in Ann Arbor
(photo by Steve Carmody/Michigan Radio)

Independent bookstore owners are not sure whether Borders Books expected bankruptcy filing this week will be good news for their businesses. 

Analysts expect Borders will close 200 or more stores as part of any bankruptcy plan.  

When Borders Books and other mega-bookstore chains started opening 40 years ago, it seemed like the end for many small local bookstores.   They found it difficult to compete with the big stores with their wider selections, coffee bars and other amenities. But the obituary for the corner bookstore was a bit premature.  

Now that online book sales and e-book readers are shrinking the market for big-box bookstores,  the smaller footprint booksellers suddenly have a brighter future. Deb Leonard is the executive director of the Great Lakes Independent Bookseller Association

“Those independent stores in those neighborhoods will benefit because people need a place to go.”

Leonard says, in some cases, local bookstores might consider taking over former Borders locations.

Economy
11:23 am
Tue February 15, 2011

The 2 types of bankruptcy facing Borders

Borders Group Inc. is facing bankruptcy
user brewbooks creative commons

With the impending bankruptcy of Borders Group Inc., we thought we'd give you a quick explanation of the two types of options facing the company.

Chapter 7 Bankruptcy

Also known as "liquidation" or "straight bankruptcy." It sparks an 'everything must go' sale of the company's assets. The company may cease operations after filing Chapter 7 bankruptcy.

The company that owes the money files for Chapter 7 bankruptcy in court. The company's assets are turned over to a bankruptcy trustee who then sells the assets and tries to pay back the company's creditors. In exchange, the company that owes the money is freed from having to pay all of its bills in full (unless some wrongdoing is found).

The details of Chapter 7 rules vary from state to state.

Chapter 11 Bankruptcy

Also known as "reorganization" bankruptcy used by many corporations (like K-Mart and General Motors).

After filing for Chapter 11 bankruptcy, the company that owes money typically keeps running its business and keeps its assets while going through a reorganization process overseen by the court.

A reorganization plan is put forth, and if the majority of creditors accept it, and the court accepts the plan - the company continues operating and repays its creditors under the reorganization plan.

Payment to creditors can come from the sale of assets, repayment from future profits, or from mergers or recapitalization.

Economy
9:51 am
Mon February 14, 2011

Next chapter or Final chapter for Borders

Books sit on the shelf in a Borders bookstore
(Steve Carmody/Michigan Radio)

Borders Books is expected to begin its next chapter this week. The Ann Arbor based bookseller is expected to file for bankruptcy protection Monday or Tuesday. 

On Friday, the Wall Street Journal reported Borders will likely file for bankruptcy protection this week. Borders stock fell by a third on the news.

It’s not like the news was unexpected. Borders has been struggling financially for years. Less than a year ago,  investors were paying more than $3 for a share of Borders stock. When the market closed Friday, you could have bought a share of Borders Books for 25 cents.

Borders is still the nation’s number 2 traditional bookstore with more than 600 stores. But as book buyers have spent more online, Borders’ share of the total book market has shrunk.

It’s been delaying payments to publishers and others since December, as the company has tried to hang on to some cash. Borders’ bankruptcy plan reportedly includes closing more than 200 stores. 

No word on what the plan is to convince book buyers to return to Borders.

The Rise and Fall (and Re-Rise?) of Borders Group.

Economy
10:31 pm
Sun January 30, 2011

More problems at Borders Books

Ann Arbor-based Borders Books announced Sunday that it would be delaying January payments to its landlords, vendors and others. Borders also delayed payments in December.  

Borders says the move is intended to ‘protect liquidity’. Borders has been losing money for years, as book buyers have increasingly turned to the internet.

Michael Norris is the senior trade book analyst with Simba Information. He says there is one problem Borders executives must find a solution for. 

They need to answer the question 'Why should I shop at Borders? They should tattoo that question backward on their forehead so they can see every time they look into the mirror every morning.

Borders lined up a half billion dollars in financing last week to help the book seller stay afloat. But the company may still be headed toward bankruptcy protection

Economy
11:08 am
Fri January 14, 2011

Report: Borders close to financing deal

Borders has been on the brink. The company has been trying to secure financing to stave off bankruptcy.
Flickr - Ruthanne Reid

The headlines for the Michigan-based Borders Group Inc. have not been good lately:

And my personal favorite speculative headline:

It seems everyone has been on a death watch for the bookseller.

Today, Julie Bosman writes in the New York Times Borders may be close to a financing deal that might help the company reorganize. From the article:

Borders executives told publishers that they were close to securing refinancing from GE Capital and other lenders, these people said, speaking only on condition of anonymity, and that the company intended to reduce costs, improve liquidity and expand marketing efforts, as well as sell some assets.

Earlier this month, we  posted on a Reuters report that said Borders was working with publishers to work out a deal. Borders is in debt to the publishers for past shipments and the company reportedly wants to restructure that debt as a loan.

Meanwhile, the company is cutting costs. The Detroit News reported yesterday that Borders is closing a big distribution center in Tennessee:

Borders will consolidate the processing and delivery of books, movies, music and other products to two distribution centers in Carlisle, Pa., and Mira Loma, Calif. It is part of a long-term effort to cut costs and make the distribution of products to bookstores more efficient, Borders Group said in a statement.

So will borders survive? What would your future headline say?