The Seismic Upheavals We All Knew Would Happen (the Book Industry)
One needs to be careful writing headlines with seismic in the Bay Area – hence the clarification at the end. We all know that the book business is suffering and that brick-and-mortar shops are closing. I am sure that most of us mourn for an independent bookstore that has nostalgic memories.
So I am not sure why I am so surprised to hear the latest news out about Borders and Barnes & Noble. I prefer to walk into an independent bookstore when given the choice, but I need to admit, I also enjoy the inevitable comforts of a parking lot, a big bargain bin of hard covers that I could never afford otherwise, the bathrooms, and the occasional amazing deal. My local Barnes & Noble even has a fake fireplace that I enjoy sitting near in winter as I write.
But Barnes & Noble has now been put up for sale. I cannot help but wonder who would want to invest in such an industry. You can only assume that they would have quite a strategic business plan in place.
Borders have already closed all their stores in the UK and apparently came close to bankruptcy in the US. Both companies have entered the digital market with the Nook and Kobo respectively, so even a change of strategy suggests a move away from brick-and-mortar.
As an author, I have not had many opportunities to read at a bookstore. I find more interest at community centers, writer’s meetings and political groups. I rarely sell a book through a bookstore. So I am not sure why I mourn the possible extinction of the bookstore.
There are/were two legendary bookstores in the Bay Area. Cody’s was an untouchable institution and when I first came to live in Berkeley, I was surprised how when going out for a coffee with a friend, we would often spend a part of that evening talking while browsing through the shelves. Cody’s was mourned by the enlightened peoples of Berkeley when it closed its’ doors a few years ago, but apparently not enough to keep it open.
City Lights survives in San Francisco. It hit the headlines as a beacon for the beatnik writers who used the shop and publishing arm, and sat next door writing their works at Vesuvio. I love the store and seek an excuse to go in when I am in the vicinity. I almost always buy a book – even on my limited budget – because I don’t want to see it fall. There is something immensely valuable in the history and energy amassed there. I’m sure it was like that at Cody’s, but energy and nostalgia doesn’t pay the bills.
Not that I understand the stock market, but I believe that one of the few companies whose stock has steadily risen over the last two years is Amazon.com.
Is the writing on wall, the screen, and in the stock portfolio?