Sandy overshadowed almost everything in yesterday and put the rest of it under water. But even with a massive storm underway the publishing industry could not ignore another big story: the merger of two of the biggest publishing houses in the business. The European conglomerates that own Random House and Penguin reached an agreement to consolidate.
The transportation industry is also taking a hard hit. Travel is at a virtual standstill along the East Coast because of Sandy. Up to 15,000 flights have been canceled. Amtrak service in the Northeast is shut down again today. And crews are just beginning to assess the extensive cleanup work needed to clear tracks and roads.
NPR's Tovia Smith reports.
TOVIA SMITH, BYLINE: Travelers across the Northeast have been going nowhere fast. Some who thought they were getting lucky, got half way home before hitting the end of the road.
Originally published on Tue October 30, 2012 11:32 am
Credit Timur Emek / dapd
There's big news in the world of publishing: The two conglomerates that own Random House and Penguin announced Monday that they were merging their book businesses to form a new company.
German media company Bertelsmann, the owner of Random House, will own 53 percent of the new firm, Penguin Random House; Pearson, which owns Penguin, will control the rest. The merger, subject to regulatory approval, is scheduled to be completed in the second half of 2013.
Executives of the publishing giants Bertelsmann and Pearson announced on Monday that they will pursue a merger of their publishing houses, Random House and Penguin. The united publishing companies are set to become a large and influential force in publishing.
Economists will need many days — maybe weeks or months — to assess the financial harm being done by Hurricane Sandy. But whatever the final figure, it will be huge, well into the tens of billions of dollars.
More than 60 million Americans are feeling the impact of the weather monster slamming New York, New Jersey, Maryland, the District of Columbia, Virginia, Connecticut, Pennsylvania and many other states. The howling mix of wind, rain and snow is causing massive direct losses, i.e., the destruction of private homes, stores, boats and cars.
A new study released by the World Economic Forum ranks northern European nations at the top when it comes to the size of their gender gap. But one area where the gap is huge is in the percentage of women on company boards; it's less than 15 percent EU-wide. Controversy over what should be done about that — and by whom — is more divisive than ever.
In the months since the controversy over the Susan G. Komen Foundation's shifting position on funding for Planned Parenthood, the organization has seen a decline in fundraising and attendance at its main event, annual races held around the country to raise money for breast cancer prevention and treatment.
Originally published on Mon October 29, 2012 6:47 am
Hurricane Sandy's full impact on the U.S. economy won't be known for quite some time, though some estimates for possible damage are in the billions. A more immediate economic effect is on the markets, as Wall Street shuts down for at least Monday.