Mark Tavani, Senior Editor at Ballantine Books, and a guest of CFD a while back, has some smart things to say about the current state of publishing over on Laura Benedict's website. There's been a lot of bad news recently, but Mark puts it into a useful context.
Here's an excerpt that I particularly liked:
Anyway, maybe we contract. Maybe fewer books get published. Maybe some publishing folks have to look elsewhere for a paycheck. I don’t say those things lightly, because I love those books, and I’m one of those publishing folks, and I have a lot of friends in the industry. But on the bright side, maybe fewer books will mean better books. Maybe, over time, books will regain an elite status that I sense they once had. Maybe, in the end, books won’t qualify precisely as mass entertainment, but entertainment for a sizable if select audience.
My thoughts exactly.