Actually, since I rarely watch television I can’t say whether this story is really better, but it’s undoubtedly entertaining. The story is that Larry Stevenson is “absolutely serious” about buying back Chapters, Inc. according to this article that appeared recently on the Globe and Mail website.
And, as usual Mr. Stevenson and Ms. Reisman are not getting along particularly well. Ms. Reisman accused Mr. Stevenson’s management team of “fundamental waste and bad management” (including suspicious accounting) and specifically stated that without her takeover Chapters would have been bankrupt in 12 months. All of which Mr. Stevenson unsurprisingly described as being “categorically untrue.”
He said Ms. Reisman’s assertion “is factually incorrect, categorically false and frankly without merit. She doesn’t give one substantiated piece of evidence to support that claim.”
The Globe concluded the article with this quote from Michael Harrison, president of the Association of Canadian Publishers, taking the side of Ms. Reisman:
A good number [of Canadian publishers] are in severe trouble thanks to Chapters. I have no doubt that a lot of them are suffering very severe cash flow problems right now, and to that extent, I think what Heather Reisman is saying is pretty close to the truth.
Better Than Television
Actually, since I rarely watch television I can’t say whether this story is really better, but it’s undoubtedly entertaining. The story is that Larry Stevenson is “absolutely serious” about buying back Chapters, Inc. according to this article that appeared recently on the Globe and Mail website.
And, as usual Mr. Stevenson and Ms. Reisman are not getting along particularly well. Ms. Reisman accused Mr. Stevenson’s management team of “fundamental waste and bad management” (including suspicious accounting) and specifically stated that without her takeover Chapters would have been bankrupt in 12 months. All of which Mr. Stevenson unsurprisingly described as being “categorically untrue.”
The Globe concluded the article with this quote from Michael Harrison, president of the Association of Canadian Publishers, taking the side of Ms. Reisman:
Hat tip to Buzz.ca
This entry was written by the proprietor, posted on 16 March 2001 at 8:28 pm.
Filed under Commentary Unbound and tagged bookselling.
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