Lawrence Elliott's blog

Reader's Digest Chapter 11 Update

Reader's Digest headquarters will be vacated by RD in August.

While writing for Reader's Digest for 48 years, there was never a question then of what it might cost to go to Baffin Island in northernmost Canada to write a story about the Eskimo artists there or to hire interpreters to see me through the Soviet Union in preparation for interviews for a story on Brezhnev. Those were the days. Read more...

Reader's Digest Retirees Bear the Brunt of Chapter 11

Mary Berner will remain the chief executive of the company.

When Reader's Digest went into Chapter 11 bankruptcy last summer, the supplemental pension I had been granted after 48 years as a writer for the publication was summarily discontinued as were some 300 other contributors. In this fragile economy, others in our profession will continue to be hard hit. The difference here is that Reader's Digest has been hurt less by bad business than by a business strategy gone off the rails. Read more...