Three accounts of current events at the Strand Bookstore: this one, from The Baffler, appeared in September; this one, from The New York Times, and this one, from The Washington Post, appeared two days ago.
Somehow I find it difficult to trust a bookstore owner who asks customers to #savethestrand but invests in Amazon, buying “at least $115,000 of stock” according to the Post, “between $220,010 and $600,000” according to The Baffler. The Times mentions an investment in Amazon but with no dollar amount.
Neither the Times nor the Post mentions the larger picture: according to The Baffler, Nancy Bass Wyden, the Strand’s owner, bought “between $3 million and almost $7.9 million” of assorted stocks between April and September. Meanwhile, employees (those who hadn’t been laid off) went without adequate PPE and cleaning supplies.
Wednesday, October 28, 2020
What’s with the Strand?
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comments: 4
So why are they not doing well but Powell's seems to be doing okay. On independent bookstore day, Powell's announced that they will no longer be selling on Amazon.
I bought books from the Strand back in January. But Powell's seems to have more in the topics of what I want.
The Strand sent out an email last week about dire straits.
Kirsten
ps On another tangent I could argue that many small businesses in this country are unprepared for downturns as they don't seem to think about them and have thought out plans for what to do. I used to work with small manufacturers.
My guess: maybe a greater reliance on Internet orders? I don’t know enough about Powell’s.
I think my ideal CEO would be Aaron Feuerstein, who kept paying everyone at Malden Mills (Polartec) after the factory burned.
“Millionaire Owner of Tote Bag Store Asks for Handout”
That seems sadly on the mark. I looked at the Strand website today, and having done my reading, I was not surprised to see so many non-book items for sale.
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