Apr. 1st, 2009

carbonel: (cat with mouse)
From Shelf Awareness, via the SMOFs list.

As the latest part of its effort to stabilize key sectors of the faltering U.S. economy, the Treasury Department this week is bailing out the book industry. Treasury Secretary Tim Geithner announced a series of far-reaching measures in a surprise press conference late last night.

Among other measures, the government is making significant cash infusions into Borders Group, Baker & Taylor, a range of independent bookstores and selected publishers and taking ownership positions in the affected companies.

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