Publishing: Profits in Continuing Education

Just before Christmas, nine years ago, the bulletin board at the Crowell Collier Building in New York carried a grimly humorous notice: "We regret to inform you that there is no Santa Claus." Crowell Collier was folding its two mass-circulation magazines, Collier's and Woman's Home Companion, and dismissing its employees. There was speculation at the time that Crowell Collier would soon follow its magazines down the drain. Instead, says Chairman Raymond C. Hagel, 49, the company has "gone through a whole life cycle in less than a decade." Last week the company announced record profits of $9,292,000 on sales...

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