Word: sells
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...Fielding suddenly decided we should be reading long books about imaginary people. It happened as a result of an unprecedented configuration of financial and technological circumstances. New industrial printing techniques meant you could print lots of books cheaply; a modern capitalist marketplace had evolved in which you could sell them; and for the first time there was a large, increasingly literate, relatively well-off urban middle class to buy and read them. Once those conditions were in place, writers like Defoe and Richardson showed up to take advantage of them...
Consider the advance system, whereby a publisher pays an author a nonreturnable up-front fee for a book. If the book doesn't "earn out," in the industry parlance, the publisher simply eats the cost. Another example: publishers sell books to bookstores on a consignment system, which means the stores can return unsold books to publishers for a full refund. Publishers suck up the shipping costs both ways, plus the expense of printing and then pulping the merchandise. "They print way more than they know they can sell, to kind of create a buzz, and then they end up taking...
...growth came near disaster, as big loans to Cuban sugar planters went bad. What saved the bank was the salesmanship of Charles E. Mitchell, head of City's securities arm, who repackaged the bad Cuban debt--and went on in the 1920s to find ever more creative ways to sell securities and lend to the burgeoning middle class. Mitchell, who became president of the bank in 1921, built City into the first financial supermarket. When everything financial turned toxic in the early 1930s, he became the most prominent scapegoat for the disaster. He was the main target of the famous...
...debt due in May. It needs to get itself time to sell off some of its properties like The Boston Globe. Having Slim come to the rescue may be a bit of an embarrassment to The Times. His past business practices may be pristine, but there have been reasonable observations that they have not been...
...What's more, to get many of these deals done, the FDIC has had to swallow the banks' riskiest assets. The FDIC now owns $15 billion in bank loans and other troubled debts, up from about $300 million at the end of 2006. In its most recent deal to sell California-based IndyMac to a group of private-equity investors, the FDIC agreed to shoulder as much as 75% of the bank's $16 billion lending portfolio in order to close the deal...