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From Monsters and Critics.com Books News The NYT reports that Peter W. Olson, the chief executive at Random House will step down. The NYT describes him as, “one of the most powerful figures in American book publishing.” Well, maybe not anymore. According to the article, Olson has come under pressure as a result of the lower profits Random House has been producing. The NYT article states, “Sales at Random House fell 5.6 percent in 2007, hurt by the eroding dollar and weak consumer spending. Operating profit declined 4.9 percent, though Random House maintained its impressive run of bestsellers, among them “Playing for Pizza,” by John Grisham, “On Chesil Beach” by Ian McEwan, “Giving,” by Bill Clinton, and “Women & Money,” by Suze Orman.” Of course nothing of any real literary value is mentioned. Yet, the NYT goes into further detail regarding the whole hoopla, which you can read here, if you care to. © Copyright 2007 by monstersandcritics.com. This notice cannot be removed without permission. |