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Social Media Steps in to Rescue New York City Bookshop

Social Media Steps in to Rescue New York City Bookshop

The Strand, New York’s most legendary bookstore, is breathing a sigh of relief, for now.  In late October, Nancy Bass Wyden, the third-generation owner, turned to social media as a last ditch effort to keep from permanently closing Strand’s doors.

A typical day sees about 300 web orders; the influx of online orders following Wyden’s post brought in 25,000 orders, causing Strand’s website to crash. New Yorkers also flocked to the shop’s two locations, in the East Village and the Upper West Side, with lines stretching around the block.

Like other businesses, The Strand has faced significant struggles during the pandemic. As an independent bookstore, around for almost 100 years, The Strand is not new to hardship. It has made it through the Great Depression, World War II, mega-bookstores, and e-commerce. But COVID-19 presented new challenges. Revenue dropped by nearly 70% compared to last year. Various loans and business reserves have been helpful, but Wyden says the store needs to sustain the influx of orders and purchases for long term sustainability.

“When I meet people, they always have a heartwarming story about the magical time they first found a book or went on a first date at the Strand, so I felt like I knew the Strand touches people, but I was absolutely beyond floored at the response the community had to help support us.”

Nancy Bass Wyden, The Strand owner

Texas Has Highest Growth for Third Year

Business is booming in Texas, at least according to the annual Governor’s Cup list in Site Selection magazine. Texas outshone the other 49 states with 702 new and expanded business and industrial facilities. It was the third year in a row that Texas topped the list. Ohio placed second, with 517 new projects last year.… Continue Reading

Scott Stanford sobre Facebook y IPOs

A principios de este año, la CNBC entrevistó al ex director general de Goldman, Scott Stanford, y discutieron acerca de Facebook y su desarrollo desde su inversión. Como banquero que ha guiado algunos de los más grandes IPOs en el mundo de la tecnología, Stanford ha invertido en Facebook, Groupon y Alibaba entre otros. Stanford… Continue Reading

Facebook’s Zuckerburg to Hold Onto Stocks for 12 Months

A recent announcement by Facebook has alleviated some of the company’s after-hours trading pressure; CEO Mark Zuckerburg will be withholding all stock sales in the company for at least a year. Boston.com explains that “investors have been concerned with the expiration of lockup periods that allow insiders to sell stock in Facebook. If a lot… Continue Reading

Facebook: A Company Focus

As the uproar from its recent IPO dies down, Facebook is facing some fresh challenges. For one, the IPO did not advance as well as planned, with the FB stocks already sliding in the market. Though analysts maintain positive outlooks for the stock’s long-term ratings, investors are generally concerned about the company’s ability to continue… Continue Reading

India Friending Facebook at a Frenzied Pace

Now that the much anticipated Facebook IPO is behind us it is possible to discuss where Facebook might be heading in the years to come. Many countries already have Facebook penetration at near or greater than 50 percent, including the United States, Britain, Canada, Australia, Malaysia and others; making it likely that growth in these… Continue Reading