This week the publishing industry has been rocked by HMH laying off more staff, Random’s restructuring, and Penguin’s announcement of salary freezes for those earning over $50,000. But I looked outside this morning, and the truth is that the sky is not falling. In fact, I’m beginning to believe the days are dawning more brightly.
It’s been impossible not to notice the attitude adjustment that seems, at least on the surface, to have humanized the head-honchos of America’s auto industry. Rather than arriving via private jet with demands, they arrived in Washington yesterday via hybrid vehicle with hats in hand—although one wonders as to their sincerity, one still must applaud their apparent efforts toward appealing to the more common man. Yet, we continue to ask why they deserve a handout when a new, leaner auto industry, along with a new, leaner America, might be just what we all need.
Is the publishing industry learning from this? It appears they are. In fact, in an industry noted for snail-paced reaction times, it’s great to hear that the giants are hunkering down for a fight. Now, if we can just make some headway on curbing the practice of huge advances to would-be writers for what turns out to be shoddy work, we’ll really be getting somewhere. And, you know what? Starting with cuts at the top, which is what seems to be happening, is a perfect strategy. Now, when the book auctions begin, they’ll be able to point to overall cost cutting as the reason for lower, or non-existent, bids.
Yes, I’m always optimistic, but the reality is that no matter how dark the night, dawn will still arrive, and that knock you hear at the door just might be opportunity.
