What the hell is Waterstones doing?

Waterstones makes a deal with "the devil".

Why is Waterstones MD James Daunt, who once described Amazon as "a ruthless money-making devil",  joining with said devil in a massive deal?

The bookstore is now going to sell Amazon's Kindle, and "launch other Kindle digital services", refurbishing its stores with digital areas where readers can sit and browse.

Waterstones is yet to fully explain the move, simply saying that:

"The best digital readers, the Kindle family, will be married to the singular pleasures of browsing a curated bookshop."

But this shot at the e-book market seems to be aimed directly at Waterstone's own foot. Why invite the e-book into one of the few nooks which paper books still occupy? One of the pleasures of buying physical books is mooching around a bookshop, browsing, as opposed to the more prosaic digital experience. It might also be noted that Waterstones is doing away with the demographic who continue to buy from them simply because they haven't yet stumbled across e-books.

The deal remains wrapped in mystery. The day before it was announced, an interview with Daunt ran in the Guardian, in which he said Waterstones would soon be joining the e-book revolution, but oddly, that this would involve:

 ...persuading Waterstones customers to choose an e-reader (and ebooks) through a Waterstones-sponsored device. Daunt won't say when this will happen – "it's the bit we have to get right" – but it's imminent. "We'll be different from Amazon," he says, with characteristic ebullience, "and we'll be better."

What's going on?

The deal might have been a panicked one, motivated by Barnes and Noble's recent alliance with Microsoft in a $300m venture last month. This was clearly an excellent move for Barnes and Noble, as they have their own e-book reader and through Microsoft immediately recruited millions of customers. By moving onto Microsoft's turf, Barnes and Noble could only stand to gain.

In contrast, Waterstones, who has no e-book reader of its own, seems to be inviting Amazon to onto their turf. It feels like a bad move.

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Commons Confidential: Fearing the Wigan warrior

An electoral clash, select committee elections as speed dating, and Ed Miliband’s political convalescence.

Members of Labour’s disconsolate majority, sitting in tight knots in the tearoom as the MP with the best maths skills calculates who will survive and who will die, based on the latest bad poll, observe that Jeremy Corbyn has never been so loyal to the party leadership. The past 13 months, one told me, have been the Islington rebel’s longest spell without voting against Labour. The MP was contradicted by a colleague who argued that, in voting against Trident renewal, Corbyn had defied party policy. There is Labour chatter that an early general election would be a mercy killing if it put the party out of its misery and removed Corbyn next year. In 2020, it is judged, defeat will be inevitable.

The next London mayoral contest is scheduled for the same date as a 2020 election: 7 May. Sadiq Khan’s people whisper that when they mentioned the clash to ministers, they were assured it won’t happen. They are uncertain whether this indicates that the mayoral contest will be moved, or that there will be an early general election. Intriguing.

An unguarded retort from the peer Jim O’Neill seems to confirm that a dispute over the so-called Northern Powerhouse triggered his walkout from the Treasury last month. O’Neill, a fanboy of George Osborne and a former Goldman Sachs chief economist, gave no reason when he quit Theresa May’s government and resigned the Tory whip in the Lords. He joined the dots publicly when the Resolution Foundation’s director, Torsten Bell, queried the northern project. “Are you related to the PM?” shot back the Mancunian O’Neill. It’s the way he tells ’em.

Talk has quietened in Westminster Labour ranks of a formal challenge to Corbyn since this year’s attempt backfired, but the Tories fear Lisa Nandy, should the leader fall under a solar-powered ecotruck selling recycled organic knitwear.

The Wigan warrior is enjoying favourable reviews for her forensic examination of the troubled inquiry into historic child sex abuse. After Nandy put May on the spot, the Tory three-piece suit Alec Shelbrooke was overheard muttering: “I hope she never runs for leader.” Anna Soubry and Nicky Morgan, the Thelma and Louise of Tory opposition to Mayhem, were observed nodding in agreement.

Select committee elections are like speed dating. “Who are you?” inquired Labour’s Kevan Jones (Granite Central)of a stranger seeking his vote. She explained that she was Victoria Borwick, the Tory MP for Kensington, but that didn’t help. “This is the first time you’ve spoken to me,” Jones continued, “so the answer’s no.” The aloof Borwick lost, by the way.

Ed Miliband is joining Labour’s relaunched Tribune Group of MPs to continue his political convalescence. Next stop: the shadow cabinet?

Kevin Maguire is Associate Editor (Politics) on the Daily Mirror and author of our Commons Confidential column on the high politics and low life in Westminster. An award-winning journalist, he is in frequent demand on television and radio and co-authored a book on great parliamentary scandals. He was formerly Chief Reporter on the Guardian and Labour Correspondent on the Daily Telegraph.

This article first appeared in the 27 October 2016 issue of the New Statesman, American Rage