Dear all, I’ve had to stop a couple of times today to take a deep breath. I’ll leave space here for you to do the same... A few updates to hopefully calm your nerves Ingram:
Ingram is a little behind right now, but don’t worry. They have hired temps and they should be caught up by the weekend. They are working around the clock to keep the machine running. Their warehouses are all open and their stock levels are good; they have a four-week supply of hot titles and are still receiving books from publishers.
Publisher Support:
Publishers, wholesalers, and vendors continue to offer support.
Bookseller Relief:
Binc’s first batch of checks is going out to bookstore staff who applied for assistance. Twenty-four booksellers will receive checks from Binc today. They will be distributing checks twice a week going forward. Pam French, Binc’s executive director, said, “We are humbled by the generosity across the industry and have raised $650,515 since March 13 with the work from all parts of our community. And we are working to get these funds distributed as soon as possible!” Bookstore Relief:
We’re not waiting on the government. We are working on a fundraising campaign with the help of booksellers and benefactors, to be announced in the next week. #SaveIndieBookstores
Legislative Relief:
The Families First Coronavirus Response Act (FFCRA) goes into effect on April 2. Make sure to review the important information related to tax credits for paid sick leave and paid family leave, among other things. The U.S. Department of Labor will be hosting a national online dialogue as it develops compliance assistance materials and outreach strategies related to the implementation of FFCRA. The ideas and comments gathered from this dialogue will inform compliance assistance, guidance, resources, tools, and outreach approaches that assist employers and employees in understanding their responsibilities and rights under the FFCRA. You can participate online March 23–29 or join a Twitter chat hosted by @ePolicyWorks on March 25 at 2:00 p.m. using the hashtag #EPWChat. In addition, at the time of this email, the Senate has not finalized a federal fiscal relief package that provides much-needed support to small businesses. However, reporting indicates that Senate negotiators are inching closer to a deal that may pass as early as tonight. The stimulus package could exceed $2 trillion. While a final package is still being negotiated, the legislation is expected to include grants and/or forgivable loans for small businesses; payroll tax relief; increased funding for training, resources, and education to the SBA Small Business Development Centers and Women’s Business Centers; recovery rebates for individual Americans; and limited penalty-free withdrawals from eligible retirement accounts.
ABA has been in touch with the Senate Small Business Committee throughout this week and continues to monitor the pending legislation. We will provide updates as they become available. Anyone with questions about the Senate legislation can email Dave Grogan, ABA’s advocacy and public policy director, at [email protected].
E-commerce Successes:
IndieCommerce sales spiked yesterday after author (and bookstore owner) Ann Patchett reminded viewers to support local bookstores on PBS NewsHour.
In general, ABA is seeing unprecedented sales from member stores’ IndieCommerce and IndieLite sites. Our team is working around the clock to support the increased volume, and we’ve added new technology and additional staff. This week, some stores experienced a one-day delay in receiving their IndieCommerce funds from ABA. We hit a threshold with our processing company that we had never hit before and were unable to release the funds in excess of that mark until the next day. We have made adjustments and don’t anticipate future problems. ABA will continue to pay members at least once a week.
In other indie e-commerce news, Bookshop.org has raised more than $96,000 for local bookstores to date! Bookstores can sign up for free to be included in the next distribution pool, or sign up to be a Bookshop affiliate by emailing [email protected]. For the next seven weeks, Bookshop is paying indie bookstores their full 30% commission on affiliate sales, and stores can withdraw their earnings after the 30-day window has elapsed. Pool funds are distributed every six months. Learn more about Bookshop here.
Rent Relief Success Stories:
ABA has heard from a couple of stores that successfully requested and received rent deferment—as in, no rent for the next two to three months, effectively an interest-free loan, with repayment beginning January 1. We strongly recommend members contact their landlords—and don’t be afraid to ask big! Contact ABA's Dan Cullen or check out the COVID-19 rent negotiation page on BookWeb for advice on how to approach your landlord. Federal Income Tax Extension:
The federal income tax filing due date has been extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations, and other non-corporate tax filers as well as those who pay self-employment tax. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline can file an automatic extension to October 15. Essential Designation:
ABA has heard from five stores that have received permission to be categorized as an essential business in order to continue filling online orders, shipping out books, providing assistance by appointment, or offering curbside pickup—the store leaves the books at the curb and has no contact with customers. In each of these cases, permission was granted by the local government—city council, mayor, city attorney, or a local assembly person. In addition, we have been informed that the governor of Maine has categorized all bookstores essential and allowed them to continue shipping and offering curbside service as long as they follow certain guidelines. All of these stores are closed to the public. These stores are operating with an owner and/or a few employees, all practicing social distancing, following CDC regulations, exercising extreme caution (for example, only one person using the phone, washing hands every hour, etc.), and making sure that employees feel comfortable with working and safe.
There has been some social media backlash related to stores requesting to be called essential, and there is some question as to whether staying open in these ways might hurt a store’s chances for loans or grants later. We have no definitive information on the latter at this time but will keep you posted.
ABA is not advising on whether stores should be considered essential, and we want to stress again that public safety and employee safety should be the top priorities. We will, however, continue to report on what we’re hearing from members on this topic.
Updates: ABA is here for you. Please reach out if there is anything we can help with. We are an incredibly creative, resilient, supportive industry. We’ll get through this, together. Best, Allison |
