The Tennessean borrows heavily from the Washington Post coverage of David Vise’s controversial book purchasing patterns. It took the hometown paper a week to report the news regarding their former cub-reporter. I saw Vise at lunch today in a meeting in which perhaps less than 10% of the audience knew about the controversy. Nevertheless, Vise used the venue to clear the air (and compliment the Tennessean’s coverage) regarding his book, The Bureau and the Mole: The Unmasking of Robert Philip Hanssen.
Vise is a Pulitzer Prize winning reporter, former investment banker and Wharton MBA (in marketing, of course). I’m sure if he were covering this story as an investigative reporter instead of being its subject, he would still be less than convinced…but I guess that’s what makes a good reporter. After he’s through this, he’ll probably end up with a higher level of empathy for those hot-seat occupants he covers in the future.
By the way, he sold lots of books at the luncheon. I think I’ll pick up a copy from the library.
Fresh from announcing the shuttering of New Choices, Readers Digest is reported to be negotiating the acquisition of Reiman Publications, publisher of the farm and country reader-generated content magazines which accept no advertising. Rumored price: $800 million. Notice the New York Post calls Reiman “quirky.” Of course, anything from Wisconsin is quirky to the NY Post.
Custom magazines are thriving, says the Dow Jones News Wire. Includes a quote from our good friend, Jim Gabal. Hope he’s accurate.
Quote:
That translates into good times for custom publishing companies, one of the few publishing segments growing in the current economic environment. Custom publishers had $1.5 billion in revenue last year, up from $1 billion in 2000, according to Jim Gabal, co-chairman of the Custom Publishing Council, a trade group. Consumer magazine revenue declined during the same period to $16.2 billion from $17.7 billion, according to Publishers Information Bureau.
“Customer retention is critical. This is a very important tool in communicating with whatever constituency of customers you may have,” said Gabal, who heads U.S. operations for Multi-Vision Publications Inc., Toronto.
Gabal said the financial services industry is a small but growing market for custom publishers. For the brokerage industry, it’s a subtle and effective way to increase client loyalty and activity, he said.
“The sky is the limit,” said Gabal of the amount brokerages are willing to spend to reach their wealthiest clients.
For more on custom publishing, here’s a good place to start.
The New York Times’ Richard W. Stevenson explores the politics of recession and recovery. (Speaking of the Times, check out their new “news tracker” service. While not exactly revolutionary [I'm very familiar with at least one other site that offers a similar feature], the service is a great addition to the Times’ already impressive site.)
No one alive that day will forget September 11, 2001. Yet with each day, the memory grows more selective in the details it recalls. As our lives have returned to routine, they have not returned to normal. Nor will they. Nor should they.
