NetLibrary On The Ropes

Submitted by Blake on Mon, 10/15/2001 - 09:26

Lee Hadden writes: \"netLibrary (NetLibrary) of Boulder, Colorado, is going broke
and is looking for a buyer. With the recent market problems since late last
year, and especially since September 11th, their cash flow has been
insufficient to keep the company afloat. netLibrary provides digital
textbooks and other reading matter as a service for public, corporate and
academic libraries.
For now, netLibrary has asked that current employees return to work at
drastically reduced pay. Everybody will be paid the same- about $360.00 a
week, which is about what they would get on unemployment benefits. Since
everyone is getting the same pay, everyone is working at executive levels
claim one employee.
Sigh. Will they have a virtual remainder sale for unsold e-books?
Read more about it.
This may be your last chance to see my e-book Reliving The Civil War\"