David L. Ulin Book editor of The Los Angeles Times wrote an interesting piece on what our national ecoonomic catastrophe may mean for the publishing business. He's more optomistic than I am but it's a different take.
"(Neyfakh's) piece went on to suggest that, with money getting tight, publishers might start to consider only books or writers they see as sure things, and that for lesser-known talent -- the so-called mid-list authors -- "the advances are going to be lower and it will be that much harder to sell them."
"Maybe so, although this is hardly a new argument; I've been listening to it for 20 years.
"What's more likely, I think, is that publishers will scale back some of their higher-end advances, especially in regard to certain risky properties: books blown out of magazine stories, over-hyped first novels, multi-platform "synergies." At least, I hope that's what happens, because one of the worst trends in publishing -- in culture in general -- over the last decade or so has been its air of desperate frenzy, which far more than falling numbers tells you that an industry is in decline."
for the rest go here
Where has Todd been lately? Haven't heard from him in a couple of months.