May 9, 2024

Archives for December 2017

Deaths in 2017: Among the Luminaries, Fighters With a Cause

Television land was further depopulated by the passings of Jim Nabors (the indelible Gomer Pyle), Adam West (“Batman”), Rose Marie (after Ms. Moore, the second female star of “The Dick Van Dyke Show” to die this year), Robert Guillaume (“Benson”), Martin Landau (“Mission: Impossible”), Mike Connors (“Mannix”), Erin Moran (“Happy Days”) and Bill Dana (whose name, by the way, was actually not José Jimenéz) — not to mention the game-show perennials Monty Hall (“Let’s Make a Deal”) and Chuck Barris (“The Newlywed Show,” “The Gong Show”).

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No strangers to the television screen were the comics Irwin Corey, that foremost authority on, well, whatever it was; Shelley Berman, who did his stand-up sitting down, on his signature stool, to fret about an anxious age; Don Rickles, who made insults a comic art; and Dick Gregory, who for all his barbed wit saw no joke in his campaigns for civil rights.

Pillars of the theater fell: the directors Peter Hall, who towered on both sides of the Atlantic, and Max Ferra, who championed the work of Latinos; the British actors John Hurt, Roy Dotrice and Alec McCowen; and the playwrights A. R. Gurney and Sam Shepard, though “playwright” alone does little justice to the uncontainable Mr. Shepard’s manifold artistry, which branched as well into movies, television, music and fiction.

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The playwright Sam Shepard died on July 27. Credit Sara Krulwich/The New York Times

Voices in Print

In death he joined a pride of literary lions, like the poets John Ashbery, whose voice — “by turns playful and elegiac, absurd and exquisite,” his obituary said — remained singular despite his many imitators; Richard Wilbur, the American laureate and Pulitzer Prize winner whose words, by many lights, coalesced into things of beauty; and Derek Walcott, the Nobel winner who filtered his acute observations on colonialism and culturalism through the rustling palms of his native Caribbean.

Fiction lost luminaries like the mystery writer Sue Grafton and Paula Fox, whose books — some for adults, some for the young — recognized that loss and dislocation were subjects that anyone of any age can understand. William Peter Blatty left us with “The Exorcist,” which still has the power to terrify, in both its dog-eared pages and its movie adaptation. Michael Bond bequeathed Paddington Bear, Denis Johnson a gallery of the down-and-out who, through his revelatory writing, achieved transcendence.

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Bharati Mukherjee in New York in 1988. She died on Jan. 28. Credit Jim Wilson/The New York Times

J. P. Donleavy, the American expat in Ireland, will be remembered for “The Ginger Man,” but his rambunctious literary output knew bounds far wider than that. And at a time when immigration remains as contentious as ever, Bharati Mukherjee, an Indian-born American, gave, through her fiction, voices to people caught up in it.

Other writers fell under that familiar publishing category that settles on describing their work in the negative. But rather than calling it “nonfiction,” one imagines that the feminist author Kate Millett, the Roman Catholic social philosopher Michael Novak and the historian Hugh Thomas, to name a few, would have described their books as their best efforts to discern the truth.

The same, no doubt, would have been said by a cadre of journalists. They spent decades taking on the powerful, baring their misdeeds, piercing their pomposities — raking the muck in one way or another. We remember the irrepressible Jimmy Breslin, the dogged Wayne Barrett, the provocateur Nat Hentoff, the inexhaustible TV newsman Gabe Pressman. And Liz Smith, who pulled back the curtains on the social whirl with her tabloid gossip scoops.

Probably few in the history of mass media had as much influence as S. I. Newhouse, at Condé Nast, Roger Ailes, at Fox, and Hugh Hefner, who created the Playboy empire and, for himself, the unabashed persona of an age-defying voluptuary.

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They became public figures, much like those the news media scrutinized. One was David Rockefeller, the banker and philanthropist who was received abroad as if he were a head of state. Others had navigated largely inside the Beltway: the Realpolitik White House adviser Zbigniew Brzezinski, the maverick Republican congressman and wave-making presidential candidate John Anderson, and the Republican congressional leaders Robert Michel, in the House, and Pete Domenici, in the Senate, both of them G.O.P. stalwarts who nevertheless reached across the aisle.

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Article source: https://www.nytimes.com/2017/12/29/obituaries/deaths-in-2017-among-the-luminaries-fighters-with-a-cause.html?partner=rss&emc=rss

The Daily: Looking at Blue-Collar Factory Jobs in the Rearview Mirror

To be honest, I felt a bit nervous about it. I’m used to agonizing over every word I write, not talking off the cuff in public.

But in the end, this trip back to Indianapolis felt almost like a homecoming. I’d been there enough times to have acquired a favorite coffee shop, a favorite bar and a favorite gym. I looked forward to going back.

I checked in with some of the people I’d interviewed. Some had gotten new jobs at other factories or construction sites, making $10 an hour less than they had been making before. One had gotten a job delivering packages. He marveled at how grueling and thankless the work is. Others were still looking. Shannon Mulcahy has yet to find a new job, although a wealthy well-wisher who read my article has offered her a position at a hotel in Las Vegas. She is considering it, but feeling a bit scared about making such a big move.

At the Dec. 7 event, Shannon told an audience of around 60 attendees about the cards, photographs and messages she’d received from people all over the world after the article was published. Some had even sent money.

“It was overwhelming,” she said. “I didn’t think very many people would even care about another factory closing.”

Thanking people kept her busy for a time. Then she focused on caring for her disabled granddaughter, Carmella, who had just celebrated her fifth birthday with chocolate cake that Shannon had time to bake now that she’s no longer employed.

Yet after working seven days a week for months on end, it feels strange to her to have so much time on her hands.

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“I miss my job,” she admitted.

One of the biggest takeaways for me from the event was the grim news delivered by Emily Wornell, an assistant professor at Ball State University, who has looked at the potential for job loss through automation and outsourcing in every county in the country.

Ms. Wornell’s research suggests that no matter how painful those disruptions have been to American workers over the last few decades, they are likely to look small compared to what’s to come.

In the next generation or so, she said, “You’ve got counties where upwards of two-thirds of the jobs have the potential of being automated” or outsourced.

Keith Belton, director of the Manufacturing Policy Initiative at Indiana University Bloomington, predicted that United States factories would continue to produce more goods than ever before, with far fewer people.

My exchange with Stu Kaplan — founder and chief executive of Makuta, a company that makes tiny plastic parts for medical devices and printers — underscored that point:

“Stu, how many parts do you make in a year?” I asked.

“Between 150 to 200 million,” he replied.

“How many people do you employ?”

“Ten.”

Some of the most telling revelations came from the audience.

One woman, who identified herself as a shop steward with S.E.I.U., a labor union, told the crowd she had to work two jobs just to make ends meet.

Another decried a culture that no longer provides job security, health insurance or a pension.

“I am a highly educated single white woman and I can’t get paid more than $10 or $15 in this city,” she complained. “When you do get a job, it’ll be in a room of a thousand people just like me. (We are scoring the country’s English exams.) . . . And yet we are all going to be fired en masse every three months.”

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Their comments pointed to an agonizing trade-off that Indiana seems to have made: To attract employers, the state adopted business-friendly policies, including lower tax rates and a “right to work” law that undercuts unions.

Signs of a vibrant economy abound. Technology-oriented firms, including Angie’s List and Sales Force, dot the Indianapolis skyline. Unemployment in the state has dropped below 4 percent, the lowest it has been since 2001, according to the United States Department of Labor. Yet Indiana is one of only a handful of states where real median wages have declined over the past 10 years.

Despite all the efforts to woo employers, many workers feel their jobs are perpetually on the verge of disappearing.

But I also found numerous hopeful signs during my trip. I met with Danette Howard, senior vice president and chief strategy officer at Lumina Foundation, which is trying to develop a skills-based credential that would allow workers like Shannon to apply skills acquired on the job toward an industry-recognized certification; and with James Danko, president of Butler University, which is a founding partner of The Speak Easy, a nonprofit space in downtown Indianapolis that has served as an incubator for high tech. Butler is also looking to expand ways that nontraditional students who can’t afford to go to college full time can take advantage of what the university has to offer.

The road ahead for blue-collar workers in Indianapolis certainly won’t be easy. But I now have reasons to hope that community-based solutions might be found.

Follow the Reader Center on Twitter: @readercenter.

A note to readers who are not subscribers: This article from the Reader Center does not count toward your monthly free article limit.

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Article source: https://www.nytimes.com/2017/12/29/reader-center/indianapolis-blue-collar-jobs.html?partner=rss&emc=rss

Gold ignores cryptocurrency craze having its best year since 2010

Investors won’t dump gold for bitcoin – Goldman Sachs

Spot gold was up 0.2 percent, trading at $1,297.39 an ounce as of 11:20 GMT on Friday.

Analysts say the precious metal is also on track for its best month since August and has benefited from technically-driven momentum as well as the dollar downtrend.

“We expect gold prices to trade higher on Friday, continuing its positive momentum from the previous trading session while the weak dollar index and thin trade also contributed to the rally,” Angel Commodities said.

According to INTL FCStone analyst Edward Meir, “The weaker dollar could provide more upside fodder for the precious metal going into the New Year, as could a modest wobble in US equity markets. But, the geopolitical backdrop looks fairly tame and would not lend much support.”

Geopolitical uncertainty and fears over North Korea’s nuclear ambitions have also spurred investor interest in gold as a safe-haven asset. Some experts, however, say that despite its strong year the yellow metal was drastically underperforming cryptocurrencies. Traders were dumping the solid investment in exchange for virtual currencies.

In its outlook for 2018, ETF Securities said gold’s role as a risk management tool and a store of value will be greater than ever.

“Gold’s potential to serve as a dynamic, multi-faceted, and cost-effective portfolio hedge against many known and unknown risks may be a powerful tool for long-term investors,” said Maxwell Gold, the company’s Director of Investment Strategy.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/414539-gold-price-best-year/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Economic View: Using the Airbnb Model to Protect the Environment

In the United States, the nonprofit Nature Conservancy has been a pioneer in bringing the “sharing economy” business model to conservation. It has been temporarily expanding wetlands for migratory birds in California’s Sacramento Valley since 2014. In early fall, when birds head south for the winter, and again in early spring on their return journey, birds need larger protected areas than the current mix of parks and nature preserves allows, as the website Howstuffworks reported in August.

The big insight was realizing “we could use a rent rather than buy model,” said Mark Reynolds, an ecologist with the Nature Conservancy, which pays rice farmers to flood their fields for the few crucial weeks each fall and spring. Rice growers routinely flood their fields for irrigation and to decompose crop residue after harvest; through the conservation program, named BirdReturns, they do so during periods when the fields would have been dry.

A team of ecologists and economists figured out how much to compensate the farmers for this change. They ran “reverse auctions” in which landowners specified the lowest payment that would entice them to flood their fields for a given four- to eight-week period.

This auction system adjusts payments to farmers’ costs. For example, flooding during the end of the spring migration season is trickier to fit into an annual rice-growing schedule, so bids — and payments — are higher then. The auction model is also flexible when the weather fluctuates. The early years of the program occurred during California’s prolonged drought, but abundant rainfall in 2017 meant that BirdReturns could dial back the amount of pop-up wetland it procured this year.

Climate change and society’s expanding footprint are making this dynamic approach to conservation increasingly useful.

“We think this is a big idea,” Mr. Reynolds said, adding that it “could really help us with adapting to change.”

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Climate change might alter natural wetlands and when and where birds migrate. BirdReturns can more nimbly adjust to those changes. The team predicts the birds’ migratory paths using crowdsourced data from amateur bird-watchers and combines that data with satellite images of surface water, enabling the establishment of temporary wetlands at the right times and places.

Short-lived nature preserves fulfill the needs of migratory birds, but long-lasting conservation efforts using private land are urgently needed, too. Many such efforts are underway. For example, the United States already enters into 30-year and permanent easement contracts with landowners to protect wetlands or to retire land from farming.

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In other parts of the world, governments and nonprofits are compensating people for preserving forests. My research looked at a conservation group’s program in Uganda that made annual payments to farmers if they refrained from chopping down forestland that they owned. The approach turned out to be a remarkably inexpensive way both to protect forests and to reduce carbon emissions.

The farmers continued to own the land, live on it and grow crops in already-cleared areas. In essence, the conservation outfit rented the trees from the landowner, while the owner held on to other land-use rights. Buying up the forest outright and turning it into traditional reserves not only would have cost more money, but it would have displaced thousands of people from their homes.

Offering payment in exchange for conservation efforts and letting people choose whether to participate also has advantages over simply banning deforestation. In the Ugandan setting, a ban would deprive poor people of much-needed income generated by selling timber or using newly cleared land for agriculture.

Moreover, a market-based approach can balance conservation goals with critical needs like growing food. If a certain landowner is outstanding at farming — producing a lot of food for the community — it could very well make sense for her to continue to farm her land, even if doing so means clearing some forest.

Ideally, less productive farmers will participate in the program because food production — and profit — sacrificed by keeping their forest intact is small.

That’s why proper pricing is important. If you offer an appropriate payment for conservation, the best farmers will decline it because they can earn more by expanding their farms, while the mediocre ones will sign up. Markets can help us find those opportunities.

As a host of political and demographic factors make it impractical to meet conservation goals solely through dedicated nature reserves, we are fortunate to have some alternatives. Innovative programs are demonstrating how land can do double duty and competing needs can coexist. With the help of market-based approaches, we can often enlist private land to serve nature’s needs.

Seema Jayachandran is an economics professor at Northwestern University. Follow her on Twitter: @seema_econ.

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Article source: https://www.nytimes.com/2017/12/29/business/economy/airbnb-protect-environment.html?partner=rss&emc=rss

First tanker of Russian gas arrives in UK to keep Britons from freezing this winter

© Christian Charisius‘Perfect Storm’ wreaks havoc on Europe’s energy market

A global positioning service puts the tanker in Harwich on Wednesday, although it had previously shown the ship was heading for the Isle of Grain port in Kent, where there is a regasification terminal.

Earlier this month, Novatek, one of the largest Russian gas producers, said that it sold the cargo of 170,000 cubic meters of LNG to Petronas LNG UK Limited (PLUK), the UK branch of Malaysia’s Petronas.

Yamal LNG, located in the Russian Arctic, is a joint project of Russia’s Novatek, France’s Total, China National Petroleum Corporation and the Silk Road Fund. Novatek holds a 50.1 percent share in the project. Its partners own 20 percent, 20 percent, and 9.9 percent respectively.

The UK was forced to turn to Russia due to shortages in gas supplies and a deep freeze that settled over the country at the time. Temperatures in central England fell to minus 13 degrees Celsius, which is nearly 15 degrees colder than the usual average December low.

The UK suffered gas shortages after the shutdown of the North Sea’s most crucial fuel transport route. Ineos, a private company which owns a key refinery near Aberdeen, said it found a crack in a vital 42-year-old oil and gas pipeline. The firm said that it would take two weeks to fix it.

The Yamal project is not directly sanctioned by the EU, but in support of US sanctions Brussels and London have imposed various restrictions on Russia that deprive its energy companies of finance and technology. The measures inevitably affect innovation and the development of new fields and supply mechanisms, which may ultimately compromise Russia’s ability to deliver gas to the rest of Europe.

The ice-breaking tanker is named after the former CEO of Total Christophe de Margerie who died in a plane crash in Russia. The tanker can carry up to 173,000 cubic meters of LNG.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/414521-sanctioned-russian-lng-arrives-britain/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

First tanker of sanctioned Russian gas arrives in UK to keep Britons from freezing this winter

© Christian Charisius‘Perfect Storm’ wreaks havoc on Europe’s energy market

A global positioning service puts the tanker in Harwich on Wednesday, although it had previously shown the ship was heading for the Isle of Grain port in Kent, where there is a regasification terminal.

Earlier this month, Novatek, one of the largest Russian gas producers, said that it sold the cargo of 170,000 cubic meters of LNG to Petronas LNG UK Limited (PLUK), the UK branch of Malaysia’s Petronas.

Yamal LNG, located in the Russian Arctic, is a joint project of Russia’s Novatek, France’s Total, China National Petroleum Corporation and the Silk Road Fund. Novatek holds a 50.1 percent share in the project. Its partners own 20 percent, 20 percent, and 9.9 percent respectively.

The UK was forced to turn to Russia due to shortages in gas supplies and a deep freeze that settled over the country in recent weeks. Temperatures in central England fell to minus 13 degrees Celsius, which is nearly 15 degrees colder than the usual average December low.

The UK suffered gas shortages after the shutdown of the North Sea’s most crucial fuel transport route. Ineos, a private company which owns a key refinery near Aberdeen, said it found a crack in a vital 42-year-old oil and gas pipeline. The firm said that it would take two weeks to fix it.

The Yamal project is not directly sanctioned by the EU, but in support of US sanctions Brussels and London have imposed various restrictions on Russia that deprive its energy companies of finance and technology. The measures inevitably affect innovation and the development of new fields and supply mechanisms, which may ultimately compromise Russia’s ability to deliver gas to the rest of Europe.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/414521-sanctioned-russian-lng-arrives-britain/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Last-Minute Rush to Prepay Taxes Gives Way to Confusion and Anger

This week’s tax-prepayment roller coaster could be just the beginning. Republicans pushed through their tax overhaul at blistering speed, giving lawyers and accountants only about a week to study the bill before it goes into effect.

But already, those people studying the law have uncovered internal conflicts and unintended consequences, as well as broad areas of uncertainty the I.R.S., the Treasury Department and, ultimately, the court system will be left to resolve.

“It’s fun if you’re a tax lawyer,” said David Herzig, a professor of tax law at Valparaiso University. “I’m not sure it’s fun if you’re a person going through it.”

The confusion this week stems from the provision in the new tax bill that caps the previously unlimited deduction for state and local taxes, and the I.R.S. guidance about the ability of people to prepay property taxes this year.

In Hempstead, and in other high-tax, high cost-of-living communities across the country, tax bills routinely run far above the new $10,000 threshold once state income and local property taxes are taken into account. In Nassau County, which includes Hempstead, the average state and local tax deduction in the county, including property taxes, topped $20,000 in 2015, among the highest in the country, according to data from the I.R.S.

The new cap does not take effect until January, however. The tax bill explicitly prevented people from prepaying state income taxes, but it did not address prepayment of property taxes. That gave homeowners a brief window to pay their 2018 property taxes in 2017, and to take the full deduction when they file their federal returns this spring.

Officials in Chicago, Washington, Fairfax, Va., and other communities reported huge surges of residents prepaying taxes, often showing up in person, checks in hand. Democratic politicians, who have opposed the bill, egged them on, arguing that the bill targeted states that tend to vote for Democrats.

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Even before President Trump signed the bill into law last week, local officials in Washington announced they would accept prepayments in what the city’s mayor, Muriel Bowser, called a bid to “protect Washingtonians from the negative impacts of this devastating legislation.” Gov. Andrew Cuomo of New York last week signed an executive order opening the door for prepayment, a move he freely described as a bid to circumvent the new law. Local officials in Maryland, Virginia and other states made similar moves.

Even Chris Christie, the Republican governor of New Jersey and an early supporter of Mr. Trump’s, on Wednesday signed an executive order instructing local officials to accept prepayments.

The I.R.S. memo, however, threw many of those efforts into question. The memo said that property taxes paid this year would be subject to the old 2017 rules — but only if the taxes are actually assessed in 2017. That means that payments based on estimated assessments, or for years further in the future, probably would not qualify for the deduction.

Final answers might not be available anytime soon. The I.R.S. guidance left plenty of room for interpretation and was, in any case, nonbinding.

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But the memo had an immediate impact. In Prince George’s County, Md., the County Council had been planning to hold an emergency session on Thursday to discuss letting residents prepay their taxes, a step already taken by neighboring Montgomery County. But within hours of the memo’s release, the council canceled the meeting.

Dannielle M. Glaros, chairwoman of the Prince George’s County Council, said the I.R.S. guidance left her little choice. T he decision to cancel the meeting resolved the immediate uncertainty, but it did little to ease residents’ larger confusion about the effects of the bill.

“It’s this sense of the unknown,” Ms. Glaros said. “That is what’s creating a lot of this anxiety that we’re seeing.”

Anxiety — and also anger. Steve Halliwell, who lives with his wife, Anne, in Irvington, a village in Westchester County, N.Y., began asking town officials several weeks ago about paying next year’s property taxes this year. Mr. Cuomo’s executive order last week was meant to make that possible.

But the order came too late for the county’s residents: Officials there said this week that they would not be able to issue tax assessments by the end of the year.

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“There are a lot of angry people here because they feel powerless and they are not used to feeling powerless,” Mr. Halliwell said. “This shows the venal side of politics.”

Other communities happily accepted the money — but offered no guarantees that prepaying would work out for taxpayers.

In Clarkstown, in Rockland County, N.Y., residents began lining up at the tax office before 9 a.m. on Thursday. The line snaked down the hall as hundreds of residents waited to get their property tax bill and then pay it. Outside, the parking lot was so crowded that police officers directed traffic.

“We brought in extra staff and extended the hours,” said George Hoehmann, the town’s supervisor. “We have gotten thousands of calls. Normally, it would be quiet this time of year, but there is a lot of anxiety because people don’t know what the impact of the tax bill will be.”

In the last two days, more than 3,500 people came in to prepay their 2018 property taxes, 2,000 of them on Thursday. “I’ve seen nothing like this ever,” said Mr. Hoehmann, who has been town supervisor for three years and was a councilman for seven years before.

Mr. Hoehmann said he believed the town’s residents would get the tax break under the I.R.S. ruling. The town had already assessed the 2018 property tax bill, allowing residents to prepay their town, county and special district taxes in 2017, he said.

But he also made no promises.

“Ultimately that’s between the individual taxpayer and the I.R.S.,” he said. “We advised people to speak to their accountant. What we wanted to do was give them the opportunity.”

Some taxpayers took the uncertainty in stride. Chacko Kurian, who lives in Rockland County, was in line Thursday morning to pay some of the $30,000 in property taxes he owed on his house, which he described as a “mansion” with a fish pond and a waterfall.

Mr. Kurian, a 70-year-old retired engineer for the Metropolitan Transportation Authority, said he did not know whether prepaying his taxes would work out. But he figured it was worth the risk.

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“My accountant said prepay and see what happens,” Mr. Kurian said. “You can’t fight the system. It is what it is.”

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Article source: https://www.nytimes.com/2017/12/28/business/economy/irs-prepay-property-tax.html?partner=rss&emc=rss

Bookstore Chains, Long in Decline, Are Undergoing a Final Shakeout

In a famous passage in Ernest Hemingway’s “The Sun Also Rises,” a novel that Book World used to sell, a character is asked how he went bust. “Two ways,” he answers. “Gradually and then suddenly.”

That more or less mirrors what happened to Book World and other bookstore chains.

A few years ago, e-books were widely assumed to be driving the physical book — and the physical bookstore — to extinction. Instead, e-book sales leveled off, and the physical book has retained much of its appeal.

But readers are increasingly ordering those books online, getting them delivered with their clothes and peanut butter and diapers. Bookstore sales were $684 million in October, the Census Bureau said this month, off 4.6 percent from a year earlier and down 39 percent from a decade ago.

“There aren’t many businesses that can survive a 20 to 30 percent drop,” said Mr. Streur, 68. “Closing was the last thing in the world I wanted. But reality sets in.”

It was an abrupt decision that surprised even his 300 full- and part-time employees; a few said that at least some of the stores — especially those that catered to tourists — seemed to be holding their own. Book World had opened a store in Jefferson City, Mo., just a few weeks before.

But a search for buyers for the chain or even some of the stores came up short. The chain swung from a profit in 2014 to break-even in 2015 to a loss in 2016, although Mr. Streur declined to provide numbers.

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“There was nobody interested in buying us,” he said.

A walk around some of Book World’s stores in its home state, Wisconsin, underlines the tough retail environment. The store in Mequon is in a strip mall with at least eight empty storefronts. In Oshkosh, the store is on the main street, but at 10 a.m. there was no foot traffic. The stores in Fond du Lac and Manitowoc were almost as bleak.

These streets look as if an overpowering recession had hit, but the unemployment rate in Wisconsin fell this year to a 17-year low. Mequon is especially affluent: Its household income is double the national average. This is Amazon Prime territory, its shoppers drawn to the fast-shipping membership program that some analysts say half the households in the country have joined.

Since Amazon dominates online book sales even more than it dominates other online retail, its coffers will likely get a boost from Book World’s demise.

Glenn Butts, a flight instructor and pastor browsing among the bargains in West Bend, said he bought books “50 percent in person, 50 percent online.” In the future, he said, “it will probably be all online.”

Still, he had his regrets. “People are getting their information these days from God knows where,” he said. “You go into a bookstore to get something a bit more in-depth, to read it and digest it. That acts against fake news.”

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Mark Dupont, Book World’s senior vice president, said he bore no grudge against Amazon. “To go online is so easy, so convenient,” he said. Credit Lauren Justice for The New York Times

Other customers remained resolute.

“I don’t like doing things online, so I won’t be buying books there,” said Susan Briggs, a former substitute teacher buying a collection of Emerson essays in Mequon. “Technology is going to be the downfall of civilization.”

Stoicism is a classic Midwest attribute, which probably helped keep Book World alive for years.

“Convenience changes our expectations, and then erodes our taste,” said Michael Schutz, who grew up riding his bike to the Book World in Portage, where he bought everything Stephen King wrote. That pushed Mr. Schutz to become a horror writer himself.

Looming over the fate of the stores is Amazon. Mark Dupont, Mr. Streur’s son-in-law and Book World’s senior vice president, said in an interview at the chain’s headquarters here that he, unlike others in the industry, did not hold any animosity toward the retailer.

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“To go online is so easy, so convenient,” he said. “To draw people into a store now is a monumental challenge. This is a huge sea change for retail. I don’t see any end to it.”

Some Book World managers were less forgiving.

“There’s no way to compete against Amazon, which doesn’t care if it makes a profit,” said Erik Sanstad, the manager of the Mequon store. Still, he added: “I’m a little reluctant to say the internet killed Book World. We never advertised, never got our name out there.”

The biggest bookstore chain is Barnes Noble, which has been struggling for many years and has closed about 10 percent of its stores since 2011. Its most recent pivot was to go back to its roots and concentrate on bookselling.

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“You go into a bookstore to get something a bit more in-depth, to read it and digest it,” one customer at the West Bend store said. “That acts against fake news.” Credit Lauren Justice for The New York Times

Books-a-Million, taken private by its investors in 2015 after its market capitalization plunged, is ranked second. Half Price Books, many of whose books are secondhand or remainders, is third.

“The age of the physical chain of bookstores is behind us — unless you don’t need to be profitable,” said Daniel Goldin, the owner of Boswell Book Company in Milwaukee, the sole surviving descendant of a local chain that began in 1927.

“You can never save enough money through centralization to be able to compete with Amazon,” he said. “Instead, you have to go in the other direction — be so rooted in your community you can turn on a dime.”

That is what Michael Bauer hopes to do in Minocqua, a town near the Michigan border. He owns a gift shop where he sells a small quantity of children’s books, local guides and cookbooks. When the Book World across the street announced its demise, he saw an opportunity.

This month, Mr. Bauer, 63, signed a contract to buy the Book World building and its fixtures for more than $300,000. He hopes to open it as a new bookstore, which he’ll run with his fianceé, by March 1.

“I like tradition. I like antiques,” he said. “I think it’s important for kids to read, and do it the old-fashioned way.”

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But he’s aware of the challenges. “I don’t think there’s any doubt that Amazon, Walmart, all those places made it more difficult for a single store,” Mr. Bauer said. “But if you work hard, and provide a good product, you will” — and he settled for the bare minimum — “exist.”

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Article source: https://www.nytimes.com/2017/12/28/technology/bookstores-final-shakeout.html?partner=rss&emc=rss

For Luxury Brands, the Musical Chairs Whirled Faster in 2017

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Nearly every month this year saw a major departure from a fashion label.

By

Dec. 28, 2017

The managerial musical chairs at the top of the fashion and other luxury industries reached newly feverish levels in 2017: Every month of the year — save August, when most companies go on vacation — saw at least one big shake-up. And a big announcement came just days before Christmas: Phoebe Philo of Céline was leaving the brand after a decade as artistic director.

In part, the reshuffling is because of the shifting balance of power between creative and corporate executives; designers and creative directors appear to be gaining more control and territory than ever as brands combat the challenges of more collections, more demanding consumers and more competition than ever before. Managing a company matters, but design that reflects a distinct point of view may now matter just as much, if not more.

The middle-market brands continue to be hit by shifts in the retail landscape and the omnipresence of Amazon, while at the upper end of the spectrum, currency fluctuations and recovering emerging markets have been highlighting the triumphs — or pitfalls — in specific boardroom strategies.

Here, a chronology of some of the biggest hirings and firings of the year:

January

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CreditAmy Lombard for The New York Times

Turnaround at the creative top of Tiffany Company

The upheaval started early in the year, and at one of retail’s best-known companies. First, after three years as Tiffany’s design director, Francesca Amfitheatrof left to “pursue other opportunities”; her efforts to woo millennials and offer more fashion-forward collections failed to spur sales at the famed American jeweler. Into the frame stepped Reed Krakoff, the former executive creative director of Coach, who despite having no experience in jewelry was appointed to the newly created role of chief artistic officer.

February

Not done yet: Tiffany boardroom is upended

Then, only weeks later and just hours before Tiffany debuted its first Super Bowl ad, Frederic Cumenal abruptly left the company as chief executive, a move that followed disappointing financial results and a lack of investor confidence. His replacement, Alessandro Bogliolo, the former chief executive of Diesel, arrived in October.

Power struggles and a departure at Ralph Lauren

Less than two years into the job as chief executive of the American fashion behemoth, Stefan Larsson quit after a falling out with Mr. Lauren, saying that he and the group’s founder had clashed over how to evolve “product, marketing and shopping experience.” The startling shake-up came at a crucial moment for one of the world’s iconic brands.

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CreditFrancois Mori/Associated Press

Riccardo Tisci exits Givenchy

Mr. Tisci left the French fashion label after 12 years as its creative director. After rampant speculation that he would move to join Versace, he has yet to join another house.

March

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CreditRex Features, via Associated Press

Clare Waight Keller moves from Chloé to Givenchy

In one of the worst-kept secrets of the year, Ms. Waight Keller joined Givenchy from Chloé, replacing Mr. Tisci. At Chloé, the Richemont-owned fashion house known for its airy bohemian style and which is in the midst of ambitious expansion plans, her position was filled by Natacha Ramsay-Levi, the former right-hand woman of Nicolas Ghesquière at Louis Vuitton.

April

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CreditValerio Mezzanotti for The New York Times.

Luke and Lucie Meier hired to revitalize Jil Sander

After three years as creative director, Rodolfo Paglialunga left Jil Sander, the house owned by the Japanese fashion conglomerate Onward Holdings. The husband-and-wife designers Luke and Lucie Meier were hired to replace Mr. Paglialunga in April; it is the first time they have worked together.

May

Ralph Lauren recruits his latest right-hand man

To replace Mr. Larsson, Ralph Lauren appointed Patrice Louvet, a Procter Gamble veteran, and gave him the task of continuing the difficult turnaround effort amid falling sales, layoffs and the changing American retail landscape.

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CreditLauren Joy Fleishman for The New York Times

Paul Surridge joins Roberto Cavalli

The beleaguered Italian fashion house appointed Mr. Surridge as creative director after the exit of Peter Dundas the previous October.

June

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CreditTawni Bannister for The New York Times

At J. Crew, 2 top names depart

After presiding over a meteoric rise (and fall) in fortunes for J. Crew, Mickey Drexler announced he was stepping down from the helm of the preppy apparel retailer. His departure followed several years of falling sales and a heavy debt load after he had pushed the brand upmarket. He was replaced by Jim Brett, the president of the furniture company West Elm. Mr. Drexler’s departure after 14 years at J. Crew came less than three months after its longtime design director Jenna Lyons left the brand.

July

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CreditDmitry Kostyukov for The New York Times

Bouchra Jarrar leaves Lanvin

After just 16 months as its creative director, Ms. Jarrar left the ailing French fashion house. She had had a falling out with Lanvin’s Taiwanese owner and was struggling with the internal fallout created by the departure of her predecessor, Alber Elbaz. Ms. Jarrar was succeeded by Olivier Lapidus, a fixture on the French design scene for decades, who promptly unveiled plans to turn it into the French version of Michael Kors. His first collection, shown in September at Paris Fashion Week, was poorly received.

September

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CreditDrew Anthony Smith for The New York Times

More movement at J. Crew

After a quiet August in the fashion world, J. Crew was back in the news this month when Somsack Sikhounmuong, who had replaced Ms. Lyons as the head of design, left the company.

October

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CreditValerio Mezzanotti for The New York Times

Exits at Ferragamo

Just 11 months into his role as design director for women’s wear, Fulvio Rigoni left Ferragamo after a tepid reaction to his collections. Paul Andrew, formerly the Italian group’s design director for accessories, is now creative director for women’s collections.

Bailey leaves Burberry

After 17 years with Burberry, Christopher Bailey announced that he would leave Britain’s iconic luxury group in March 2018. Mr. Bailey, who had been widely credited with transforming the brand from a local heritage name to a global fashion powerhouse, had stumbled in recent years in the joint role of creative director and chief executive, as Burberry weathered the effects of currency volatility, slowdown in China and overexpansion.

Marco Gobbetti, the well-regarded head of Céline, came on board in July to replace Mr. Bailey as chief executive. Mr. Bailey’s departure (with no indication of what he will do next) opens up one of the most coveted designer roles in the fashion world. Many industry watchers think Ms. Philo, the British designer, will get the job.

November

The great internal Dior/LVMH reshuffle

After almost two decades as chief executive of Dior, Sidney Toledano moved within LVMH to become executive chairman of the LVMH fashion group. He replaced Pierre-Yves Roussel, who moved into a new position as special adviser to the group chairman and chief executive, Bernard Arnault. And Pietro Beccari, who has been praised for his steering of the Italian fashion house Fendi, was hired to replace Mr. Toledano as head of Dior. The reshuffling came six months after LVMH had consolidated its control over Dior, buying out minority investors in a $13.1 billion deal.

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CreditJennifer S. Altman for The New York Times

Leaving Kate Spade

Having spent almost a decade as creative director, Deborah Lloyd exited less than six months after the brand was bought by Tapestry Inc. She will be replaced by Nicola Glass, who currently oversees the accessories division at Michael Kors.

December

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CreditFrancois Durand/Getty Images

And the revolving door spun until year’s end

First, after four years at the helm of Mugler, David Koma stepped down to focus on his namesake label, which is based in London. Casey Cadwallader, most recently the design director for pre-collections at Acne Studios, replaced him and started in the role on Dec. 1.

Next, after just three seasons as chief creative officer of Diane von Furstenberg, and despite critical acclaim for his collections, Jonathan Saunders abruptly left the New York-based fashion house, which is on the hunt for new investors to fund its expansion efforts. The move was seen as yet another failure by a founder in the fashion world to successfully hand over the reins to a new generation of leadership.

Less than a week later, Nicola Formichetti stepped down from his post as the creative director of Diesel. The Italian-Japanese designer, a onetime stylist for Lady Gaga who joined Diesel as its first artistic director in 2013, announced that he would be leaving at the end of the year. Diesel has yet to name a successor.

Finally, last Friday, Ms. Philo announced she was leaving Céline, a house she reinvigorated, remaking it in her own image.

Elizabeth Paton is a reporter for the Styles section, covering the fashion and luxury sectors in Europe. Before joining The Times in 2015, she was a reporter at the Financial Times both in London and New York.

  @LizziePaton

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Article source: https://www.nytimes.com/2017/12/28/business/for-luxury-brands-the-musical-chairs-whirled-faster-in-2017.html?partner=rss&emc=rss

Anatomy of a Trump Tweet: Vanity Fair Edition

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President Trump’s broadside aimed at Vanity Fair mastered a tricky title and made much of a 14-word statement.

By

Dec. 28, 2017

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President Trump, vacationing in Palm Beach, Fla., was relatively subdued on Twitter this week — at least until Thursday, when he launched a somewhat arcane broadside at the magazine Vanity Fair. The tweet, dense by Trumpian standards, was a bit confounding, given its highly specific references to rumors and tensions within the Manhattan magazine industry, and a minor Twitter kerfuffle involving a 63-second video about Hillary Clinton.

Phew. Let’s break this down.

1. Vanity Fair: Glossy monthly that has long been a thorn in Mr. Trump’s side; its recently retired editor, Graydon Carter, coined the epithet “short-fingered vulgarian” for the president. On at least 20 occasions, Mr. Trump has tweeted that the magazine is struggling, hence “on its last legs.”

2. apologizing for the minor hit: Last Friday, Vanity Fair’s site The Hive posted a video in which staff members suggested New Year’s resolutions for Hillary Clinton, like they did for a number of people — including the president.

The jokes were not kind; Mrs. Clinton was urged, for instance, to take up a new hobby — “volunteer work, knitting, improv comedy, literally anything that’ll keep you from running again.” This did not sit well among Mrs. Clinton’s fans, including the actress Patricia Arquette, who tweeted at Vanity Fair to “STOP TELLING WOMEN” what “THEY SHOULD DO OR CAN DO.” The hashtag #CancelVanityFair trended.

On Wednesday, Vanity Fair said the video “was an attempt at humor and we regret that it missed the mark.” Whether a 14-word statement amounts to “bending over backwards” is up to interpretation.

3. Anna Wintour: Vogue’s editor in chief, and the artistic director of Condé Nast, the publisher of Vanity Fair. She was a major booster of Mrs. Clinton’s campaign personally and recounted her accomplishments in Vogue. But she also attended Mr. Trump’s wedding to Melania Knauss in 2005 and, after last year’s election, hosted him at Condé Nast, a gesture interpreted as a peace offering that also prompted internal grumbling.

4. Amb to Court of St James’s: The formal name for the United States ambassador to the United Kingdom — the president even nailed the tricky possessive at the end. In 2012, rumors spread that the London-born Ms. Wintour was in line for this prestigious post. Among the rumormongers: Mr. Trump himself, who tweeted his support:

5. CH: Ms. Wintour was indeed a major fund-raiser for Hillary Clinton, co-hosting events for her in Paris, New York and the Hamptons. Mrs. Clinton’s initials happen to be the inverse of “CH.” Did Mr. Trump make a typo? Or — perhaps more likely — is this an abbreviation of “Crooked Hillary”? An inquiry to the White House press team was not returned.

6. beside herself in grief: There is no evidence for Mr. Trump’s claim that Ms. Wintour is “begging for forgiveness” over the Vanity Fair video; it is not clear that she is aware of the kerfuffle in the first place. (Condé Nast declined to comment on Thursday.)

But Ms. Wintour did recently appear to withdraw the olive branch she extended to the president after his victory. In October, she told the talk show host James Corden that she would not reinvite Mr. Trump to the Met Gala, the A-list Manhattan society event she hosts. Perhaps there is no fury like a president scorned.

Michael M. Grynbaum is a media correspondent covering the intersection of business, culture and politics.

  @grynbaum

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Article source: https://www.nytimes.com/2017/12/28/business/media/trump-tweet-vanity-fair.html?partner=rss&emc=rss