All Your Depressing Economic News in One Post
- Big cuts in library services due to the "economic storm". (Smart Bitches)
- Borders tells a major distributor that it won't "be paying us for two months due to anticipated excessive returns." (Media Bistro – this is pretty disturbing post. Might want to get a shot ready to down before or after reading it).
- "Sales at the nation's largest retailers fell off a cliff in October, casting fresh doubt on the survival of some chains and signaling that this will probably be the weakest Christmas shopping season in decades." (New York Times). One book expert told me that without people going to the stores to shop, the books that would sell would be in the grocery stores and the discounters like Wal-Mart, Target, etc.
- Ebook sales are up. "In the U.S., wholesale revenue zoomed from $8 million in Q3 of 2007 to $14 million for the same quarter of ’08." (Teleread.org- read the post for provisos)