Only in September did it propose a budget squeeze, including a 5% cut in public-sector pay, of the kind that Ireland, Greece and Spain pushed through months ago.
Random House is taking a big chance by making such a big bet on an author whose fan base is concentrated in the under-30 demographic, a group not known for its willingness to pay for content of any kind.
"Investors are attracted to companies that are producing 30%-40% earnings growth per year and are willing to pay a high premium to participate in this kind of growth, " says Vineet Mishra, Southeast Asia head of equity capital markets at J.