Thursday, September 25, 2008

Okay Folks-Wasn't this a bit obvious?

Breaking News-Just in from Publishers Weekly-

Scholastic Results Off, Focus On Cost Cutting
You can read the entire link below. My first reaction when I read-
Hey wasn't this something everyone knew was going to happen?

The saddest bit, in an economy we all can see is tanking, was this-

Chairman Dick Robinson said the company’s focus continues to be on cutting costs, an initiative that includes a hiring freeze and a voluntary retirement program for employees over age 50.

So-with the market tanking-and all of those 401K's and equity in homes slip sliding away-folks over 50 are being asked to take on an early voluntary retirement. Any guesses how long that remains voluntary?

Wouldn't it be nice if Scholastic had planned for this turn of events-for this end of days years ago when they were making money hand over fist on the genius of Ms. Rowling? Was anything put in the collective piggy bank to cultivate new authors and new series and new lines of business?

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