POVERTY MINDSET: I’m not a fan of Wal-Mart, never have been, and never will be! It’s a mindset I don’t welcome into my life but not because I object to saving money when and where I can. True or not, I associate Wal-Mart with exploiting its vendors and the greedy mindset of its customers. Ouch! Greed in this instance, translates into a belief of satisfying self-want at the expense of others.

“Ah! But you are one of the privileged few,” you say. “Ha-Ha, you said what!” No I’m not privileged. I’ve been down but never out. I’ve been broke but never poor. One time I was so broke I only had a quarter in my pocket for food that day. I remember clearly looking at the quarter, recognizing I didn’t want to serve it and dropped it on the street in New York City leaving me with zero. I can’t remember what happened next but it must have been good since that was decades ago and I didn’t starve to death, do anything illegal or become homeless!

TAKING ONE MORE SWIPE: Last Thursday Wal-Mart helped put one more nail in the publishing industry’s coffin. In the name of customer consideration, it began offering pre-ordered hardcover titles at $10 each. Amazon immediately caught wind of this and matched the price plus free shipping. And the price war was on shaking out at $9 per hardcover title.

WHAT’S WRONG WITH THIS PICTURE: Several Hubs back, I talked about what really goes on in the publisher’s marketing department and how decisions made in these book acquisition meetings influence a book contract. I also discussed the retail and e-tail booksellers and the criteria they impose on book sales. If you have been following along it will be easy for you to see through the veneer of what is really happening. Our publishing industry is in crisis because of complacency on one hand and arrogance on the other.

BUT WHO PAYS THE PRICE? We do—the writers, authors and entrepreneurs who write books. Equally important, the publishers themselves are now even more beholden to the Wal-Mart’s, Amazon’s, Sam’s Club, Costco’s and every other discounter who sells books. It is a severe case of the tail wagging the dog and sends a loud signal change in publishing is here—right now.

Perhaps you don’t mind the idea of earning a few pennies an hour for your gift as a writer—but I do. Or maybe it doesn’t make any difference to you whatsoever that your royalty check is all but non-existent because of hardnosed tactics by booksellers. It makes a difference to me. Competition in the marketplace is one thing but to let an entire industry quiver because of these types of sales tactics lack integrity throughout the entire supply chain.

Be wise and be awake. Watch your contracts for all the ways your royalties will be eliminated.

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