Search Results for: Business

Taking Care of Business: A Reading List

Hackers! Gen Y CEOs! Multibillion dollar success stories! International expansion! Top-secret projects! Cute clothes! Hamburgers! Capitalism is so exciting, and so are these longreads about popular U.S. companies.

1. “In-N-Out’s Burger Queen.” (Patrick J. Kiger, Orange Coast, Jan. 2014)

31-year-old Lynsi Snyder presides over In-N-Out’s $1.1 billion industry, founded by her grandparents in the 1940s. What’s the company secret? Never change. Seem counterintuitive? Not if you’ve ever had an In-N-Out burger.

2. “You Can Explain eBay’s $50 Billion Turnaround With Just This One Crazy Story.” (Nicholas Carlson, Business Insider, Feb. 2014)

A group of six twenty-somethings fly to Sydney, Australia on a secret mission for eBay. Carlson brings the eBay executives and employees to life; I felt like I was watching “The Social Network.”

3. “A Sneaky Path Into Target Customers’ Wallets.” (Elizabeth A. Harris, Nicole Perlroth, Nathaniel Popper and Hilary Stout, Washington Post, Jan. 2014)

Merry Christmas, you’ve been hacked! In the midst of the 2013 holiday season, millions of Target customers received an ominous email; Cybercriminals targeted the store’s credit card machines, stole card numbers and PINs and endeavored to sell the information in the creepy corners of the internet.

4. “The J. Crew Invasion.” (Emma Rosenblum, Bloomberg Businessweek, Nov. 2013)

J. Crew executives hope the brand’s casual-chic niche will find a foothold in London.

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Photo: Kevin Dooley

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The Business of Merchandising Pop Music

Brian Epstein was the manager of a family-owned business called North End Music Stores in Liverpool, England. He began hearing a lot about a new group called The Beatles, who were playing at the Cavern Club. So he went to hear them, and one day, proposed a management contract.

The four lads, which included drummer Pete Best at the time, eventually agreed, and a five-year deal was signed in 1962. With that, Epstein created a company called NEMS to manage The Beatles. As the band became popular in England, NEMS began to be overwhelmed with product licensing offers.

But once the band hit America, NEMS became besieged with merchandising requests, so Epstein reluctantly set up a subsidiary called Seltaeb to deal with the offers. Seltaeb was Beatles spelled backwards.

As Epstein saw it, the merchandising was just a PR abstraction at best, so he asked a friend to take the management of Seltaeb off his hands. That friend, Nicky Byrne, suggested a 90/10 split, which, by the way, was 90% for Byrne, 10% for The Beatles.

Epstein agreed immediately, thinking that 10% of incidental merchandising was better than nothing. And in the stroke of the pen, lost untold millions for The Beatles.

CBC Radio’s Under the Influence podcast, on the marketing of rock ‘n’ roll. See more podcast picks.

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Photo: moonierocks, Flickr

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A Botched Operation: How a Substandard Abortion Provider Stays In Business

Longreads Pick

Steven Brigham’s abortion clinics keep being sanctioned for offering substandard care. Why is he still in business?

Brigham began placing ads for abortion services in the Yellow Pages. The ads drew a steady stream of pregnant women to his office—and a steady stream of protesters, armed with placards and bullhorns. The commotion escalated, eventually prompting the owners of the building to petition a judge for a temporary injunction against the protesters; after the request was denied, they successfully obtained an injunction against Brigham, who, they claimed, had misrepresented the nature of his medical practice. The controversy attracted extended scrutiny in the local press. One morning, Brigham later recalled, he glanced at the front page of the Reading Eagle and spotted a story, below the fold, about a minor international development: the implosion of the Soviet Union. Above it was yet another story about the turmoil outside his clinic.

Author: Eyal Press
Source: New Yorker
Published: Feb 3, 2014
Length: 41 minutes (10,470 words)

The Death of the Funeral Business

Longreads Pick

How our mourning rituals have evolved:

It’s all part of the biggest trend in funerals: personalization. Taking a cue from Oprah, who reportedly has planned her own funeral, contemporary mourners are trying to make the worn outlines of ritual more authentic and meaningful. We’re singing “My Heart Will Go On” at services, and showing montages of our deceased’s school days, weddings, grandkids. We’re having their cremains shot into space, made into diamonds and interred in coral reefs. The newest disposal method: dissolving the body via alkaline hydrolysis. The resultant liquid washes right down the drain.

Rituals evolve. What stays constant is our need for them, for some way to make sense of the hole in the social fabric that death creates. “While the types of services we offer are changing, our job has remained the same,” say Peter. “People always told stories. We are always remembering who the people were.”

Published: Nov 22, 2013
Length: 16 minutes (4,125 words)

‘What a Sad Business, Being Funny’: A Brief History of the Tortured Comedian

Longreads Pick

From Charlie Chaplin to the pantomime clown Joseph Grimaldi, a look at the link between depression and comedy:

Chaplin had hoped to cultivate the mind of his young wife, which he found “cluttered with pink-ribboned foolishness.” According to Harris, this meant he read long, boring books out loud and rehearsed the tragic roles he harbored secret ambitions to play. Mildred once mistook something he said for a joke and began to laugh, but soon realized her error as he flew into a fury and called her names. When they divorced in 1920, on grounds of mental cruelty, she received $200,000. “It has been said that a comedian is only funny in public,” she complained to the Washington Times. “I believe it. In fact, I know it. Charlie Chaplin, who has made millions laugh, only caused me tears.”

Published: Dec 22, 2013
Length: 14 minutes (3,537 words)

What Happens When Your Business Partner Becomes Your Rival

“The Dodge brothers already made two fortunes from their relationship with Ford, by 1913 they were not thrilled about continuing to make parts for the Model T. Ironically, by the time the T started selling in really huge numbers in the nineteen teens it was obsolete and being technologically surpassed by by more modern cars. The Dodges were good engineers, probably the best machinists in Detroit next to Henry Leland. The term ‘mechanical genius’ could have been coined for Horace Dodge and his brother John was almost as adept with his own management skills. By 1914 the Dodge brothers, who already owned and operated what was probably most advanced automotive plant in the world in the Detroit enclave of Hamtramck, wanted to build modern machines.

“Not only were they tired of dealing with Henry’s eccentricities, and tired of building an old fashioned car, they knew that they were increasingly vulnerable having such a big customer, a customer that had already started making many components himself, on his path to making FoMoCo perhaps the most vertically integrated manufacturing company ever. One reason why people don’t know about the Dodges’ role in Ford history is because Ford was later famous for making every part of their cars, including the raw steel and glass. In the early days, though, Ford, like most automakers then, was an assembler, buying components and subassemblies. The Dodges supplied other automakers like Cadillac and Oldsmobile, but Ford represented the lion’s share of their business. So the Dodges had plenty of reasons in 1913 to jump before they were pushed and in July of that year they gave Henry Ford a year’s notice that they’d no longer be supplying him. Soon, the automotive world was abuzz with the news that Dodge Brothers would be making a Dodge car.”

Ronnie Schreiber on the Dodge brothers and the 100-year anniversary of their car company (2013).

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Photo: Dodge.com

The Winners and Losers in the Book Business

“It begins to dawn on me that if a company publishes a hundred original hardcover books a year, it publishes about two per week, on average. And given the limitations on budgets, personnel, and time, many of those books will receive a kind of ‘basic’ publication. Every list—spring, summer, and fall—has its lead titles. Then there are three or four hopefuls trailing along just behind the books that the publisher is investing most heavily in. Then comes a field of also-rans, hoping for the surge of energy provided by an ecstatic front-page review in The New York Times Book Review or by being selected for Oprah’s Book Club. Approximately four out of every five books published lose money. Or five out of six, or six out of seven. Estimates vary, depending on how gloomy the CFO is the day you ask him and what kinds of shell games are being played in Accounting.”

Daniel Menaker, in a New York magazine excerpt from his memoir, My Mistake, on life in publishing.

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Photo: gpoo, Flickr

What Does the Book Business Look Like on the Inside?

Longreads Pick

Memories and bad math from Menaker’s life in the publishing business, excerpted from his memoir My Mistake:

“We make about $3 for each hardcover sale, $1 for each paperback.”

“So if we sell 10,000 hardcovers, that’s $30,000.”

“Right.”

“And say 10,000 paperbacks. That’s $40,000.”

“Right—so the P-and-L probably won’t work. So we have to adjust the figures. But remember, you can’t change the returns percentage.”

“Increase the first printing to 15,000 and the second printing to 7,500?”

“That ought to do it. Isn’t this scientific?”

Published: Nov 16, 2013
Length: 10 minutes (2,535 words)

On Muppets & Merchandise: How Jim Henson Turned His Art into a Business

Photo by Eva Rinaldi

Elizabeth Hyde Stevens | Make Art Make Money | September 2013 | 17 minutes (4,102 words)

 

In 2011, Longreads highlighted an essay called “Weekend at Kermie’s,” by Elizabeth Hyde Stevens, published by The Awl. Stevens is now back with a new Muppet-inspired Kindle Serial called “Make Art Make Money,” part how-to, part Jim Henson history. Below is the opening chapter. Our thanks to Stevens and Amazon Publishing for sharing this with the Longreads community. Read more…

On Muppets & Merchandise: How Jim Henson Turned His Art into a Business

Longreads Pick

In 2011, we highlighted an essay called “Weekend at Kermie’s,” by Elizabeth Hyde Stevens, published by The Awl. Stevens is now back with a new Muppet-inspired Kindle Serial called “Make Art Make Money,” part how-to, part Jim Henson history:

“The real breakthrough in Henson’s career—the thing that would make him a mogul—was Sesame Street. It debuted in 1969, a good fifteen years into Henson’s television career. Because it taught children across the country, Henson became a household name, and through Sesame Street toys, Henson became a millionaire. In short, merchandizing is the ‘secret’ to Henson’s success. However, licensing toys, to Henson, felt like selling out. Before he became a mogul, he had to find a good reason to do so.”

Source: Longreads
Published: Sep 17, 2013
Length: 16 minutes (4,102 words)