Former Time Warner Book Group CEO Larry Kirshbaum jumps from the traditional publishing world to “the dark side,” heading up Amazon Publishing. Meanwhile, the Big Six watch closely:
Amazon could be an unstoppable competitor to big publishing houses. If history is any guide, Jeff Bezos, who declined to comment for this story, doesn’t care whether he loses money on books for the larger cause of stocking the Kindle with exclusive content unavailable in Barnes & Noble’s Nook or Apple’s iBookstores. He’s also got almost infinitely deep pockets for spending on advances to top authors. Even more awkwardly for publishers, Amazon is their largest retailer, so they are now in the position of having to compete against an important business partner. On the West Coast people cheerfully call this kind of arrangement coopetition. On the East Coast it’s usually referred to as getting stabbed in the back.
The country’s huge challenges following the U.S. withdrawal, including corruption, new waves of violence and crippled infrastructure:
The end of the U.S. military’s long, bloody adventure in Iraq signals the start of a new, highly uncertain chapter in the country’s development. In the scenario conjured by optimistic U.S. and Iraqi officials, an Iraq free of tyranny, terrorism, and foreign occupation will transform itself into a modern and open economy in the heart of the Arab world. That vision recedes a bit more every day as sectarian tensions reemerge, corruption hinders development, and the country’s political leadership moves against its opponents and flirts with autocracy. Iraqis are reluctant to ask aloud if the most recent attacks represent the deadly half-life of war, or, as Abdel Sadeh and many others I spoke to during four weeks in December and January say they fear, another meltdown.
Lessons from inventor Lenn Rockford Hann’s negotiations with companies over a carbon-fiber shoe he patented in 2004:
When it came time to talk price with New Balance, Hann set his offer sky-high. He says he meant it as a starting point, but company executives closed discussions. Hartner remains a supporter of the shoe, but says Hann blew the negotiation. ‘He would be way better off with an agent to represent him,’ says Hartner. ‘He’s the inventor-scientist guy, you know it from movies. But in real life they sometimes end up shooting themselves in the foot, and it’s hard to watch. They’re not as good at the people thing.’
A great piece about what proved to be the Last Days of Berlusconi’s Italy, with all the virtues of the typical artfully triangulated New Yorker profile (as recently codified by John McPhee) plus a refreshing willingness to let Levy herself play a crucial role. (Difficult to avoid, perhaps, when the people you interview say things like “I see you are a girl—I want to kiss you! … This is nature.”)
Moving, passionate, yet determinedly unsentimental remembrance of David Foster Wallace by one of his students at Pomona that doubles as a review — the best I’ve seen — of his frustrating posthumous semi-opus The Pale King. Whether or not you care a whit about Wallace, there’s a lot to be learned here about the anguish of mentorship: “He expressed some of the most meaningful things he said to me in some of his sentences most likely to seem meaningless. ‘It means a lot that it means a lot,’ ‘I feel for you.’”
“David Graeber likes to say that he had three goals for the year: promote his book, learn to drive, and launch a worldwide revolution. The first is going well, the second has proven challenging, and the third is looking up.” I, too, have failed to learn to drive in 2011.
I’m not sure I buy Horning’s fundamental premise, that “Papa” John Phillips was “a harbinger of what microcelebrity may do to the rest of us,” but the two halves of this neatly turned essay — a knowledgeable account of Phillips’s sordid solo career and a lucid analysis of how an increasing amount of our (increasingly internet-dependent) sociality is getting redefined as “sharing” (“It’s sharing when we confess something; it’s sharing when we link to someone else’s work; it’s sharing when we simply express approval for something; it’s sharing when a social-media service automatically announces some action we took”) — are each worth the price of admission.
This piece combines a genre I love—the gritty crime story—with the utter weirdness of the cruise ship industry. Apparently people disappear from cruise ships all the time, but you usually don’t hear about it because the cruise lines keep it quiet. Ronson goes deep into the bizarre cruise culture as he tries to figure out what happened to Rebecca Coriam, who vanished from the Disney Wonder last March.
This story accomplished what seemed almost impossible, at least from an editor’s perspective: it made a compelling narrative out of the Occupy Wall Street encampment in lower Manhattan. Even though OWS was being covered to death, this story—along with Bloomberg Businessweek’s own fine contribution, Drake Bennett’s profile of David Graeber—found a new angle on it and made it fresh and compelling.
His piece about Iceland (“Wall Street on the Tundra”) is my favorite one he’s done about the global financial crisis, but Michael Lewis’s breakdown of the fiscal disaster that is California was his best in 2011. It really makes you think about the scary place we might be headed as a country, and the scene with Arnold Schwarzenegger is priceless.
This is a parody, and it isn’t terribly long, so I’m not sure that it qualifies. But it is hilarious, and perfectly illustrates much of what is wrong with the publishing business.
Selected according to a complicated (read: entirely arbitrary) judgment of their degree of difficulty and technical execution, and listed in no particular order. Full disclosure: I’ve written for several of the publications cited on this list, but I’ve excluded from consideration any writer with whom I’m personally acquainted.
When it comes to degree of difficulty, delivering an interesting Mitt Romney profile is like nailing a reverse four-and-a-half somersault. But this story succeeded—not the least of which due to its brilliant packaging, which included a now-infamous cover photo of Romney with cash coming out of his suit pockets and the accompanying headline: “Mitt Romney and the 1% Economy.” Written without the (perhaps dubious) benefit of an interview with Romney, the story nonetheless managed to summon up the Republican candidate’s history of creative destruction, and tied that to the big story of the moment, the Occupy Wall Street protests. If Romney ends up becoming the Republican nominee, as still seems likely, the themes of Wallace-Wells’ profile will likely define the coming political year.
Oxford philosopher Derek Parfit argues, MacFarquhar writes, that “personal identity is not what matters.” But a profile is, by definition, an evocation of a person’s identity. How do you fulfill the requirements of the form on Parfit’s own, rather forbidding, terms? MacFarquhar didn’t make use of any scenes, or quotes of the traditional “he said” variety, conveying Parfit as a sort of disembodied intelligence. By all rights, this experiment should have been about as interesting to read as, well, a philosophy textbook. But the power of Parfit’s ideas about the nature of consciousness and ethics—and MacFarquhar’s skill at conveying them colloquially—made the piece sing to me.
Are you interested in reading about a shadowy industry that attempts to predict and profit from gigantic, multibillion-dollar disasters? Great—me too. Now that I’ve got you interested, I will disclose that this article is actually about the reinsurance industry. This is the bait-and-switch trick that Greeley pulls off admirably in this piece. This was the cover story for Businessweek’s 9-11 anniversary issue, and aided by some very good cover art—something the magazine has been justly praised for lately—the piece managed to tell its readers a story that touched on the past while telling them something new.
A detective story masquerading as a celebrity profile—or maybe it’s the other way around?—this was in an issue that kind of hung around on my endtable for a few months before I got around to sticking it into my bag for a long plane flight. Then it completely sucked me into its world. I won’t even pretend that I’m young enough to care about the rap collective Odd Future, or the fate of its missing member Earl Sweatshirt, but the outcome of this story, which I won’t spoil, offered an (ahem) oddly plaintive reminder that so many of our musical idols are, after all, just kids.
This was my absolute favorite story of the year. Journalism from Africa often conveys the continent in broadly collective terms: tribes rival with one another, rebels fight the government, the downtrodden suffer or rise up. Bearak, who used to be stationed in the Times’ Johannesburg bureau, took one of those distressing mass phenomena that fill the inside pages of every day’s newspaper—an outbreak of xenophobic violence in South Africa’s township slums—and gave the story a terrible specificity. I particularly admired the way Bearak dissected the chance intersections and misunderstandings that led to a lynching, and dispassionately explained the cosmological worldview of the victim’s family about his death. In the end, Bearak resists the natural tendency to isolate a single villain and hold that person up to condemnation, despite the murky evidence, because that’s what the mob did, albeit in an incomparably more brutal fashion.
Bonus: Longreads Logrolling List
I’m lucky enough to be friends with a bunch of really talented writers, and it seems a shame to exclude them simply on the grounds of our acquaintance. So, here’s a list of really great articles written this year by people that I happen to know and like. You can take these endorsements with a grain of salt, of course, but I urge you to click and judge for yourself.
The Gulf oil spill turned out to be less overwhelmingly catastrophic than some doomsayers predicted, but it still left behind some troubling lessons. This is the story of a disaster that happened beneath the surface, and in conveying that narrative with great depth and nuance, the story pulls off a truly difficult feat.
Before the market crashed and home prices tumbled, before federal investigators showed up and hauled away the community records, before her property managers pled guilty for conspiring to rig neighborhood elections, and before her real estate lawyer allegedly tried to commit suicide by overdosing on drugs and setting fire to her home, Wanda Murray thought that buying a condominium in Las Vegas was a pretty good idea.
The Fed, headed by Chairman Ben S. Bernanke, argued that revealing borrower details would create a stigma — investors and counterparties would shun firms that used the central bank as lender of last resort — and that needy institutions would be reluctant to borrow in the next crisis. Clearing House Association fought Bloomberg’s lawsuit up to the U.S. Supreme Court, which declined to hear the banks’ appeal in March 2011.
$7.77 Trillion
The amount of money the central bank parceled out was surprising even to Gary H. Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, who says he “wasn’t aware of the magnitude.” It dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP. Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.
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