|
|
ONLINE FEATURES
Book Reviews
BW Video
Columnists
Interactive Gallery
Newsletters
Past Covers
Philanthropy
Podcasts
Special Reports
BLOGS
The Auto Beat
Byte of the Apple
Europe Insight
Eye on Asia
Getting In
Investing Insights
The New Entrepreneur
NEXT: Innovation Tools & Trends
On Media
Technology at Work
The Tech Beat
Traveler's Check
TECHNOLOGY
Product Reviews
Tech Stats
Hands On
AUTOS
Home Page
Auto Reviews
Car Care & Safety
INNOVATION
& DESIGN Home Page Architecture Brand Equity Auto Design Game Room SMALLBIZ Smart Answers Success Stories Today's Tip FINANCE Investing: Europe Annual Reports Bloomberg BW50 SCOREBOARDS Hot Growth Companies: 2008 Mutual Funds Info Tech 100 B-SCHOOLS Undergrad Programs Rankings & Profiles | |
JULY 7, 2003
Don't Cry for Me, Amazon Your article "Selling books like bacon" describes independent bookstores as "driven nearly to extinction" (Marketing, June 16). IPSOS BookTrends reports that independent bookstores have maintained a 15% market share for the past four years, a higher share than mass merchandisers or the Internet. BusinessWeek mentions The Lovely Bones, a surprise blockbuster and one of many books that independent booksellers were first to recommend and promote. The surviving independent bookstores have strong community ties and loyal customers. A 15% market share is very significant in a very diverse retail environment. Michael F. Hoynes Marketing Officer American Booksellers Assn. Tarrytown, N.Y. Only Novices Are Running from Private Equity In "Private equity, public anger" (Finance, June 16), Mara Der Hovanesian asserts that investors in private-equity funds are "banging on the door to get out as hard as they once did to get in." On the contrary, most limited partners in private-equity, and specifically venture-capital funds, have the sophistication and financial savvy to realize that the asset class has a long-term horizon and outperforms the market over time. Unrealized returns, whether they are positive or negative, are not meaningful. One cannot measure the performance of a venture fund until the final liquidity event occurs, which typically takes 7 to 10 years. Mark Heesen President National Venture Capital Assn. Arlington, Va. 
| | |
 Copyright BWStory.copyright, Bloomberg L.P.Terms of Use | Privacy Policy |
Printer-Friendly Version
