We had a giveaway following our review of Michael Lewis' new audiobook 'The Big Short' last week.
And we have a winner!
David Lawrence (@dlawrence0425 on twitter) is our winner! Congrats, David! You just won a great audiobook by Michael Lewis who was described by Malcolm Gladwell as "the finest storyteller of our generation." This audiobook is a gift of the publisher, Simon & Schuster Audio.
As we wrote last week, "The Big Short" is full of lessons. Not just for Wal-Street, but also for everyone occupied with global warming, as unfortunately the days of subprime planet are not over as Thomas Friedman predicted in 2008. The mix of short-term thinking, greed, herd mentality and avoiding critical thinking can be catastrophic and of course the question we all ask is how to avoid it. This audiobook is a good place to begin the search for answers.
"Publishing is changing fast, bookselling is changing fast" said Skip Prichard, Ingram CEO last week at BookExpo America in a 'A CEO Panel: The Value of a Book'. No one seem to be immune to these changes, especially not independent bookstores, which might look as the most vulnerable to the changes in the industry.
But are these changes just a risk or also opportunity for independent bookstores and how going green can make a difference for them? The answers are coming right away on our fourth part in a series on the green future of the book industry.
These are not easy times for independent bookstores. Earlier today The Working Waterfront reported that "Maine coast loses two independent bookstores". The article quotes Steve Fischer, executive director for the New England Independent Booksellers Association (NEIBA), who estimated that some 10 percent of association bookstores have closed in the last year.
The article also mentions couple of the challenges independent bookstores are dealing with: "Big-box stores have muscled smaller stores out of the market-share, many publishers are starting to sell their books directly and online booksellers are taking an increasing chunk of the bookselling business." And there's of course also the small but growing market of ebooks.
So it's not surprise that independent bookstores are looking for improved or alternative business models that can help them meet today's and tomorrow's challenges. In BookExpo America, the American Booksellers Association (ABA) held a panel entitled 'The New Reality: Alternative Business Models for Independent Bookstores', which was described as follows:
A business model based on book sales alone is growing more challenging each year, but there are viable alternatives. Hear from a panel of innovative booksellers who are growing their businesses in directions beyond the book. From selling children's clothes and creating stores within stores to offering local delivery, indie booksellers are using their ingenuity and their roots in the community to find new and interesting ways to sustain their book sales.
So, is there an alternative model that is better than the others? is there any secret sauce that can make all the difference? I'm not sure, but I think the best shot for independent bookstores is to make a green bold move, or in other words: Go local.Yes, I know that independent bookstores are already an important part of local communities and economies, and there are many economic, environmental and social advantages to buy at local bookstores from a local perspective point of view.
For example, as IndieBound mentions on their website, if you spend $100 at a local, $68 of that stays in your community. Spend the same $100 at a national chain, and your community only sees $43.But apparently this is not enough to incentivize local residents to shop in their local independent bookstores. The market share of independent bookstores is only somewhere between 5%-15% (depends which data resource you're looking at).
I'm talking about taking a different approach, one that will provide customers with both personal benefits and the feeling that they're contributing to the prosperity of their own community. I'm talking about creating a collaboration with other local businesses that will enable these businesses to provide customers with discounts for each other.
For example, if I buy a book at the local bookstore, I will receive a one dollar discount coupon for every $10 purchase I make. Later on. I can use in other local businesses, like the local coffee shop, the local diner, florist, barber, etc. The same goes when I go to the other local stores and buy there something. This way I get two things: 1. A gift that worth money and will provide me with monetary benefit. 2. An opportunity to support my local community.
Why it is important to combine the two incentives? Because one cannot work without the other.Firstly, people care about the price of books. Just look at the data revealed on a 2010 Survey of Book Buying Behavior that was conducted by Verso Digital for ABA. From the slide below (no. 22 on Verso Digital presentation), you can clearly see how the monetary incentives are significant to buyers at independent bookstores:
But independent bookstores just can't compete solely on pricing. They'll almost never be the cheapest option. If a customer wants the cheapest option, she will just go to bookfinder.com and find one. Independent bookstores need an added value that will bring customers to their place and not to bookfinder.com and this is exactly the 'go local' factor I'm talking about.My belief is that although you can't see this factor on the slide people do care about their communities and understand the importance of living in a strong and thriving community.
At the same time, at a slow economy and with less money affordable to spend, it makes sense that it won't be the first or the second, or even the third factor in their decision making process.Therefore you need to combine the two - monetary incentive + local benefit.
How you do it exactly? Well, there are many platforms that can be used, from establishing a local currency system, such as Ithaca Hours, to collaborations with local business networks, such as one of BALLE's local networks.
I'm sure each bookstore can find the platform that can be the best fit for the local nature of its community. The important thing however is to find the right equilibrium between the two parts of the model to ensure it will have the highest possible beneficial value to local book lovers.
The last part on our series will be focused on authors and will be posted here next week.
Here are the articles we published so far in our series on the green future of the book industry:
All of these books are printed on recycled or FSC-certified paper and readers can choose from this list the book they would like to receive as a gift from us.
So what 'Hot, Flat and Crowded' is about?
In this brilliant, essential book, Pulitzer Prize-winning author Thomas L. Friedman speaks to America's urgent need for national renewal and explains how a green revolution can bring about both a sustainable environment and a sustainable America.
Friedman explains how global warming, rapidly growing populations, and the expansion of the world’s middle class through globalization have produced a dangerously unstable planet--one that is "hot, flat, and crowded." In this Release 2.0 edition, he also shows how the very habits that led us to ravage the natural world led to the meltdown of the financial markets and the Great Recession. The challenge of a sustainable way of life presents the United States with an opportunity not only to rebuild its economy, but to lead the world in radically innovating toward cleaner energy. And it could inspire Americans to something we haven't seen in a long time--nation-building in America--by summoning the intelligence, creativity, and concern for the common good that are our greatest national resources.
To learn more about the book see this video:
More details about our green gift giveaway and the other gifts we give to readers who balance out 25 books or more (gift cards for Strand Bookstore and BookSwim!) can be found on the campaign's page at http://www.ecolibris.net/gifts.asp
Some of you might wonder how "The Big Short", an audiobook about the downfall of the financial markets, as good as it is (and it is!) can be considered a green book. Well, the reason is very simple - there's a disturbing resemblance between the way the markets operated before the crash of 2007 and our present behavior from an environmental point of view. Al Gore and David Blood made this point back in 2009:
"Just as widespread assumptions about the value of bundled and securitised subprime mortgages collapsed when tested by reality (thereby detonating the first stage of the financial crisis), the current widespread assumption in markets that it is perfectly fine to dump 90m tons of global warming pollution into the thin shell of atmosphere surrounding our planet every 24 hours—as if it is an open sewer—is also now colliding with reality."
Gore and Blood explain that "the global financial crisis had its origins in short-term, unsustainable strategies and actions" and there is no better place to get a better understanding of these strategies and actions than Michael Lewis new audiobook "The Big Short" (or in it's full name:The Big Short: Inside the Doomsday Machine).
This is not an easy one. It is full of financial terms and explanations and sometimes you might want to hear a part or two again to make sure you got it right. Still, Lewis does the best he can to simplify it as much as possible so everyone will get it eventually. The story itself, full of interesting characters, Wal-Street outsiders who try to figure out the subprime madness and how to make a buck or two out of it.
Their fascinating journey, narrated by Jesse Boggs, a veteran narrator of business titles, is eye-opening and keeps you wondering again and again how come only a handful of people could see what looks so obvious. I'm not sure I still get it, but with Michael Lewis' help the picture is much clearer.
"The Big Short" is full of lessons. Not just for Wal-Street, but also for everyone occupied with global warming, as unfortunately the days of subprime planet are not over as Thomas Friedman predicted in 2008. The mix of short-term thinking, greed, herd mentality and avoiding critical thinking can be catastrophic and of course the question we all ask is how to avoid it. This audiobook is a good place to begin the search for answers. Here's a description of the new audiobook (from the publisher's website):
When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine, and the SEC doesn’t dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower and middle-class Americans who can’t pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren’t talking. The crucial question is this: Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages?
Michael Lewis turns the inquiry on its head to create a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestselling Liar’s Poker. Who got it right? he asks. Who saw the ever-rising real estate market for the black hole it would become, and eventually made billions of dollars from that perception? And what qualities of character made those few persist when their peers and colleagues dismissed them as Chicken Littles? Out of this handful of unlikely—really unlikely—heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our times.Hear an excerpt from the audiobook:
Disclosure: We received a copy of this audiobook from the publisher (Simon and Simon Audio).
Here's an excerpt from the audiobook:
GIVEAWAY ALERT!!
We're giving away a copy of this audiobook, courtesy of the publisher, Simon & Simon audio!
How you can win? Very simple. All you have to do is to retweet this post on twitter with the hashtag #thebigshort at the end of your tweet. We will have a raffle on Friday, June 4, 5:00PM EST between all the readers that will retweet by then. The winner will be announced the following day.
We are back today with a new tip on our weekly series of green printing tips, where we bring you information on green printing in collaboration with Greg Barber, an experienced eco-friendly printer. Today Greg is discussing the costs of green printing and is showing how going green with your next printing job doesn't necessary mean you should pay a hefty premium for it.
Does Green Printing Cost a Lot More Money?
Tip #47
This is the number one question people ask me about Environmental printing.
My response is NO, it does not cost more if you follow some basic Green Tips.
First: Analyze your job to see if it is an offset (soy inks) job, or a digital job (100% non toxic toner). Both are terrific processes.
My rule of thumb is, whatever can fit on 500 sheets of 14 x 20 paper that we run digtally, in 4 color printing, is probably a digital job, based on cost.
What can fit on 500 sheets?
1. 4500 postcards, size 4.25 x 6 2. 10,000 business cards 3. 1000 fliers, 8.5 x 11 4. 2000 (4 panel) greeting cards if 4.5 x 6.25 when folded.
That is a pretty good start. After 500 sheets I will check both offset and digital pricing, up to 1000 sheets.
The reason digital is less money, up to 500 sheets, is there are no start up costs, like offset printing has. i.e. No plates, make ready, etc. At 500 sheets (break even point), the start up costs are amortised , and each sheet after that (break even point) is less money printed on an offset press.
Secondly: Accept a less white 100% PCW paper and you will save $1.00 per pound on the paper. Run 500 pounds of paper on your job, and you have a $500-$600 savings on the paper.
Most people can't tell which paper is whiter, unless they put two grades next to each other. And, if you have solid coverage, you will never guess which is whiter.
Thirdly: Be flexible on selecting your final size for your print project. A classic example is Greeting Cards. In #4 above, I say we can get 2000 greeting cards, if you choose 4.5 x 6.25 as the final, folded size. The flat size is 9 x 6.25. We can fit (4) sheets of that size on a 14 x 20 sheet of paper that we will print on.
If , on the other hand, you go with the more common folded size, 5 x 7, printed from the flat size, 10 x 7, we can only fit (2) sheets on our 14 x 20 sheet size. You would only get 1000 finished cards.
That is an "enormous" cost difference, and we would have to throw away a huge amount of paper waste.
So, I have only listed 3 ways, to make being Green in your printing affordable. There are a lot more ways than that, but these are the easiest to do.
Congrats to all the students who had their graduation ceremonies today, as well to those who have them tomorrow! We think about this generation as one who feels much more comfortable with electronic information and devices, at least much more than my generation (X generation) or the Baby Boomers. But is this true?
A new survey found out that when it comes to bank statements or bills it's definitely accurate, but when it comes to books or magazines the picture is more complicated.
The nationwide poll, conducted by Eric Mower and Associates and commissioned by Domtar, one of North America's leading paper companies, found that while college juniors and seniors believe going paperless helps the environment, fewer than 30% would give up printed books, magazines and newspapers, photos or official documents.
Here's another interesting finding of the survey: "When it comes to studying at school, 52% of students like materials on paper. 23% report they prefer hard copiesof most notes and professors also print out class materials. Another29% of students said that while they like hard copies, theirprofessors tend to send out electronic copies."
You might be suspicious and wonder if the results has anything to do with the fact that the survey was commissioned by a paper company. I know that I would. I teach students and I see a reality that is a bit different, where a growing number of students feel more comfortable with paperless materials.
Yet, I read this week on The Register that "Amazon's Kindle DX is flunking out of college. According to a report by The Seattle Times, the $489, 18.9 ounce (0.54kg) Kindle DX, with its 9.7-inch monchrome e-ink display, is getting bad grades from college students."
The report on The Seattle Times mentioned that "At the University of Virginia, as many as 80 percent of MBA students who participated in Amazon's pilot program said they would not recommend the Kindle DX as a classroom study aid (though more than 90 percent liked it for pleasure reading)." Why? Well, one of the students quoted in the article explained that "You don't read textbooks in the same linear way as a novel. You have to flip back and forth between pages, and the Kindle is too slow for that. Also, the bookmarking function is buggy."
Amazon, according to the article, seems to be taking the student feedback seriously. The company last month announced software upgrades enabling Kindle users to sort books into collections and zoom in on PDF documents.
It looks to me though that even though now the electronic reading devices might not provide a superior alternative to printed textbook, this situation will change in 5 up to 10 years. Better technology, more user friendly features and the option to get the textbooks in a much cheaper price should do the work for electronic textbooks. I also believe that the number of students willing to exchange their printed books in electronic books is much greater than 30%, but at the same time, the real test is how many students will actually do it and not just talk about it.
What do you think? Please comment and let us know!
Our friends and partners at neigh*borrow have a great new project - "Black and White and READ around the World".
The ideas is really great -"Around the world in 80 days" is on a Journey around the world, that started in New York City. The goal of the project is to send the book on a journey around the world using the technology and communities behind neigh*borrow and stickybits!
According to neigh*borrow, this promotion aims to do more than illustrate the fantastic technologies and communities behind stickybits, neigh*borrow, and the other organizations helping to make this possible.
Read Around The World...
Will reinforce how the web and our online worlds can influence and enrich our offline connections and experiences.
Will show how something can be hyperlocal and genuinely global all at the same time.
Will help bring global awareness to important issues like re-using, recycling and literacy.
Check out the rules and how it works on their blog, check out the history and the current location of the book at stickybits and join the fun if you want to be part of this great project and help get the book around the world.
Founded in 2007, Eco-Libris is a green company working to green up the book industry in the digital age by promoting the adoption of green practices in the book industry, balancing out books by planting trees, and helping to make e-reading greener.
To achieve these goals Eco-Libris is working with book readers, publishers, authors, bookstores and others in the book industry worldwide. So far Eco-Libris balanced out over 179,500 books, which results in more than 200,000 new trees planted with its planting partners in developing countries.
We had a giveaway following our review of Michael Lewis' new audiobook 'The Big Short' last week.
