Posts filed under “Bailout Nation”
I was over-caffeinated, and essentially babbled away for 2 hours. I did manage to remember to ask a few questions, and learned quite a bit. It was an education for me in a real “Art meets Commerce” kind of way.
There is the creation of content, and then there is the selling of that content. They are two utterly different worlds, bound by a small overlap. (Picture a 2 circle Venn Diagram, with a rather smallish “c”). Quite fascinating to me, as I know little of the publishing/book selling universe, especially in the midst of a severe recession.
We discussed the book, purchase promotions, driving traffic to stores and websites, the Bailout Nation blog (coming soon!), and a bunch of other related things.
They asked me what shows I wanted to do to promote the book, and I gave them the full run down. What really surprised me was their reactions to two of the quasi-news opinion programs — The Daily Show with Jon Stewart, and The Glen Beck Program.
After Oprah, these two are (apparently) amongst the biggest book sellers on TV. Like Oprah, Glenn Beck has a loyal audience, is perceived as very sincere — and moves books.
But the most intriguing “inside baseball” stuff we discussed was the impact of The Daily Show on book sales — in particular, two recent books that were the subject of big TDS segments. These were mentioned as prime examples of the power of Jon Stewart.
The first is House of Cards: A Tale of Hubris and Wretched Excess on Wall Street by William D. Cohan. After Stewart raved about the book (“Helluva book — you made finance read like a suspense novel”) when Cohan was on the show April 9th, sales of the book in stores tripled. They have been strong ever since.
The second example was the infamous James Cramer appearance on TDS on March12th. According to the people I had lunch with yesterday, the very next day, sales of Cramer’s book Jim Cramer’s Real Money: Sane Investing in an Insane World went into free fall. They absolutely plummeted — and they haven’t recovered since.
And that’s the power of TDS . . .
The Bailout Nation manuscript has officially been accepted by Wiley. I am told we are on target for a mid-May publication date, with the book in the stores sometime before Memorial Day. (Makes for the perfect beach read!) You will be able to pre-order the book at Barnes & Noble or Amazon or Borders. A…Read More
Well, here is the final version of the cover, by graphic artist/cartoonist John Sherffius. John also did the ‘toons that adorn each of the 5 Section pages. Its available for pre-order at Amazon with a May 4 publication date. > > His work is awesome . . .
I now have permission from the relevant parties to release this information: The week after McGraw Hill refused to publish the book as written, the editor I was working with there, Jeanne Glasser, resigned. Jeanne Glasser was the person who first approached me about doing this book. She was terrific to work with, and I…Read More
The deal is now official, so I can make the announcement: Wiley is the new publisher of Bailout Nation. They wee one of more than a dozen publishers that approached me about the book. The denial from the PR weenies at McGraw Hill was classic. Here is my favorite part: The book didn’t meet our…Read More
These are the endnotes in the submitted Manuscript. As you can see, verifying them should be relatively simple given the included web page URL.
These do not reflect the additional 90 pages of sources — McGH requested I remove to make the book smaller.
N O T E S
1. Daniel Gross, Pop! Why Bubbles Are Great for the Economy
(New York: HarperCollins, 2007).
1. Casimir Frank Gierut,
Taxpayers’ Message to Congress: Repeal the Federal Reserve Banks: Pandora’s Box of Criminal Acts (Bunker Hill, Ill.: National Committee to Repeal the Federal Reserve Act, 1983), p. 31.
(The Federal Reserve Act was passed in 1913 on a Sunday two days before Christmas, when most of Congress was on vacation. Wilson’s comments were made years later, regarding the bill he signed into law.)
2. Steve Matthews,
Bloomberg Markets, June 2008;
3. The Economic Club of New York, 395th Meeting,
New York City, April 8, 2008;
4. “Jefferson’s Opinion on the Constitutionality of a National Bank,”
The Avalon Project at Yale Law School;
5. Virtual Tour of Historic Philadelphia,
“Second Bank of the United States/Portrait Gallery: Biddle vs. Jackson”;
6. Roger T. Johnson, “Historical Beginnings of the Federal Reserve,” Federal
Reserve Bank of Boston, December 1999;
7. Stephen Mihm,
A Nation of Counterfeiters: Capitalists, Con Men, andthe Making of the United States
(Cambridge, Mass.: Harvard University Press, 2007).
8. Ibid., p. 6.
9. Johnson, “Historical Beginnings.”
10. Robert F. Bruner and Sean D. Carr,
The Panic of 1907: Lessons Learned from the Market’s Perfect Storm
(Hoboken, N.J.: Wiley, 2007), p. 7.
1. Robert J. Shiller,
“A Government Hand in the Economy Is as Old as the Republic,”
Washington Post, September 28, 2008, p. B01;
2. Daniel Gross,
Pop! Why Bubbles Are Great for the Economy
(New York: HarperCollins, 2007), p. 29.
3. Jonathan Alter,
The Defining Moment: FDR’s Hundred Days and the Triumph of Hope
(New York: Simon & Schuster, 2006), p. 341.
4. C. L. Harriss, History and Policies of the Home Owner’s Loan Corporation
(Detroit: National Bureau of Economic Research, 1951);
5. “Profitable HOLC,”
Time, April 22, 1946;
6. Alex J. Pollock,
“A 1930s Loan Rescue Lesson,”
Washington Post, March
14, 2008, p. A17;
7. Harriss, History and Policies.
9. Alan S. Blinder,
“From the New Deal, a Way Out of a Mess,”
New York Times, February 24, 2008;
10. Harriss, History and Policies.
11. James Butkiewicz,
“Reconstruction Finance Corporation,”
EH.Net Encyclopedia, ed. Robert Whaples, July 20, 2002;
12. Barrie A. Wigmore,
“The Crash and Its Aftermath: A History of Securities Markets in the United States, 1929–1933,” Contributions in Economics and Economic History, no. 58 (1985), p. 540.
1. The company placed the blame for these losses and its subsequent difficulties on military contracts arranged under the Total Package Procurement (TPP) procedure instituted by former Defense Secretary Robert McNamara, a system “designed to end overrun claims by setting a strict ceiling on the final cost of any project.”
2. The TPP was a fixed contract purchasing program instituted by the Defense Department where defense contractors would bid for military programs based on their expected development and production costs, and the government would pay only up to the contract ceiling. The losses involved in any contract would thus be shouldered by the contractor, with the government liable only for the ceiling price.
3. Nick Barisheff,
“August 15, 1971: Inflation Unleashed,” Financial Sense University, May 11, 2006;
4. “The Biggest Bankruptcy Ever,”
Time, July 6, 1970;
5. ”The Penn Central Reorganization Revisited—Again,”
News and Insights, DLA Piper, January 14, 2008;
6. “Chrysler’s Crisis Bailout,” Time, August 20, 1979;
7. “Chrysler Corporation Loan Guarantee Act of 1979: Remarks on Signing H.R. 5860 into Law,”
January 7, 1980;
A friend asked me an interesting question over the weekend: What was the thing about writing the book that surprised you the most? Lots of things about the process were pretty much as I expected. The deadlines, the structural changes, the battles with publishers/editors — were all pretty much as you would imagine. The importance…Read More
Hey, pretty cool: We got mentioned on the show last night (about the 2:30 mark)
If no video appears, go here
(Anyone know why these iFrames seem to disappear ? The code is : <iframe height=”339″ width=”425″ src=”http://www.msnbc.msn.com/id/22425001/vp/27917363#27917363″ frameborder=”0″ scrolling=”no”></iframe>