(publishingperspectives.com): top management in book publishing corporations, indeed in any corporation, are largely interested in personal survival. As most recently elaborated in The Curse of the Mogul, most media companies are run by managers who operate in their own interests, not on behalf of shareholders. (And who could blame them — it’s the [failed] corporate governance system, not self-abnegation, that is supposed to align their interests with the shareholders.) The recent financial meltdown and subsequent battle over executive compensation demonstrates that the finance industry is equally beset. Corporate publishing management’s goal is clearly to minimize disruption in the short-term and focus on maximizing survival through acquisitions (of big-ticket books, of companies)
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