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And the bestselling book of 2008 is. . .

not Harry Potter.

Not Twilight or even the latest thriller from James Patterson. The bestselling book of 2008 is, just like every other year, The Bible. 90% of U.S. households already have at least one copy, but slick marketing and endless procession of new editions with new translations, new illustrations, and new limited edition leather bindings helps The Bible sell about 25 million copies each year.

A fascinating piece in the December 23 Wall Street Journal (subscription required) looks at the brilliant niche marketing that keeps people who already have Bibles coming back to buy more each year: there are special editions for surfers, golfers, fashionistas, alcoholics and anime fans.

Bibles have been big business as long as they've been around: It was the first book to roll off of Gutenberg's printing press and, according to scholars, there's probably never been a year since then when it didn't sell more copies than any other book. In the first half of this century, it was a business dominated by door to door salesmen immortalized in this classic documentary from 1968.

According (PDF File) to religious publisher Thomas Nelson, 38% of Bible buyers already own between three and ten copies of the book, and most Bibles are bought as gifts.

TWX closing bell report -- what do the numbers mean?

Today, Time Warner closed at 17.40, a gain of 0.23%.

But what does a gain of 0.23% mean? Well, allow me to put that in perspective for you:

  • François Truffaut's film The 400 Blows (Les Quatre Cent Coups) won him the Best Director Award at Cannes in 1959. A 0.23% gain would've forced the Film Festival to praise him instead for The 400.92 Blows.
  • In the Biblical story of Noah's flood, it rained for 40 days and 40 nights. With a 0.23% gain, it would have rained for 40.092 days and 40.092 nights.
  • Water freezes at 32 degrees Fahrenheit. Water would freeze at 32.0736 degrees Fahrenheit with a 0.23% gain.
  • In the sport of bike racing, a racer said to be "dying a thousand deaths" when struggling to hang on to the pack.With a 0.23% gain, he would be "dying a thousand-two-point-three deaths."
  • “… Baby One More Time” was the Britney Spears megahit of 1998. A 0.23% gain would have changed the hit to “… Baby One-point-zero-zero-two-three More Times.”

That, finance fans, is what a 0.23% gain means.

Symbol Lookup
IndexesChangePrice
DJIA-154.4810,309.92
NASDAQ-37.612,138.44
S&P 500-19.141,091.49

Last updated: November 27, 2009: 08:09 PM

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