Anyone who has ever endeavored to engage in a high-level of study, whether formally or informally, knows of the expense of textbooks. Textbook publication is a very profitable business. Now, with the emergence of e-books, a whole new market has opened up for textbook publishers.
Textbook publisher, Pearson, which is the largest higher educational publisher in the world, is reportedly set to purchase a 5% stake in Barnes & Noble’s e-reader, NOOK. The United Kingdom based company, which reported earnings of $3 billion from sales of textbooks in the first 6 months of 2012, will allegedly pay $89.5 million cash for its 5% ownership. The purchase is a move by the company to offer its customers an alternative to printed materials.
The question is whether this new textbook format will make textbooks less expensive for students, and if so will this be a permanent discount.
Questions also arise regarding the effects the popularization of digital books can have on the future conveyance of information. Personally, I will always favor the printed word over the digital format when it comes to reading books. What are your thoughts?
Campbell Soup Company, which is over 115 years old is looking to expand in its biggest deal ever. The company, which is said to be the first company to can condensed soups over a century ago, is seeking to purchase Bolthouse Farms Inc.
Bolthouse Farms is a company that sells baby carrots, salad dressings, and “high-end juices.” Bolthouse currently supplies Campbell with carrots for its soups, and concentrate for its V8 juices.
According to the Wall Street Journal, Campbell is seeking ownership of Bolthouse Farms Inc. with an offering price of $1.55 billion in cash. Campbell is seeking to increase their profits after a reported 4% drop in stock value since last year. Today, Campbell was trading at about $27.28 a share.
The $350,000 to $1.4 million-priced Maybach “super-luxury” vehicle will no longer be sold. The Daimler Motor Company, which is also the producer of Mercedes-Benz vehicles, introduced the Maybach to the market in 2002. In its almost decade of existence, the Maybach has failed to turn a profit every year.
The lac of profit has been attributed to the inferiority of the product. CNN states the following about the Maybach brand: “It was a remarkably cynical effort by Daimler to use the halo of its Mercedes-Benz brand to justify prices of $350,000 to $1.4 million for an inferior automobile wrapped in a glitzy package. Maybach strived for a prestige that it tried to ground on price alone. The wealthy figured it out in a hurry and stayed away in droves. Appearances to the contrary sometimes notwithstanding, the top 0.0001% didn’t accumulate all that money being stupid.”
In lieu of the Maybach, Daimler plans to introduce three new versions of the Mercedes S-Class in 2013.