Status: Finally have a pretty good query letter. It only took a week. Halleluja!
Song: "O Come, O Come Emmanuel" (one of the greatest, and least heard, Christmas carols, IMHO)
As far as the title of this post, I don't have any inside information or anything. It's just that so many industries and companies are against the wall over foolish business practices, and the publishing industry is no different. For those of us interested in the economical ramifications on publishing and writerly scribblings, here are some explanations from some blogs I follow.
C[r]ash Flow. An explanation of why the publishing world was hit so hard. *Note: I saw this happen with my own royalty statements. This comes from the Editorial Ass blog.
Here is just some of the bleak news from not too long ago.
Here's a great essay by Richard Curtis that I found through the EditorialAss blog.
I don't know if you've taken a gander at Amazon's e-book reader, the Kindle. I don't know about any other book addicts, but I drool over it. I want, I want. That's the future of publishing - but transitioning is going to be interesting.