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Leonard Riggio, builder of Barnes & Noble empire, dies at 83

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Barnes & Noble buys Colorado bookstore chain Tattered Cover


Barnes & Noble buys Colorado bookstore chain Tattered Cover

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Leonard Riggio, a brash, self-styled underdog who transformed the publishing industry by building Barnes & Noble into the country’s most powerful bookseller before his company was overtaken by the rise of Amazon.com, has died at age 83.

Riggio died Tuesday “following a valiant battle with Alzheimer’s disease,” according to a statement issued by his family. He had stepped down as chairman in 2019 after the chain was sold to the hedge fund Elliott Advisors.

“His leadership spanned decades, during which he not only grew the company but also nurtured a culture of innovation and a love for reading,” reads a statement from Barnes & Noble.

Riggio’s near-half century reign began in 1971 when he used a $1.2 million loan to purchase Barnes & Noble’s name and the flagship store on lower Fifth Avenue in Manhattan. He acquired hundreds of new stores over the next 20 years and, in the 1990s, launched what became a nationwide empire of “superstores” that combined a chain’s discount prices and massive capacity with the cozy appeal of couches, reading chairs and cafes.

“Our bookstores were designed to be welcoming as opposed to intimidating,” Riggio told The New York Times in 2016. “These weren’t elitist places. You could go in, get a cup of coffee, sit down and read a book for as long as you like, use the restroom. These were innovations that we had that no one thought was possible.”

He grew up working class in New York City, liked to say he preferred socializing with childhood pals over fellow business leaders and was informal enough among associates to be known as “Lenny.” But in his time no one in the book world was more feared. With the power to make any given book a best seller, or a flop, to alter the market on an idle whim, Riggio could terrify publishers simply by suggesting prices were too high or that he might sign up such top sellers as Stephen King and John Grisham and publish them himself. He even tried to buy the country’s biggest book wholesaler, Ingram, in 1999, but backed off after facing government resistance.

By the end of the 1990s, an estimated one of every eight books sold in the U.S. were purchased through the chain, where front table displays were so valuable that publishers paid thousands of dollars to have their books included. Thousands of independent sellers went out of business even as Riggio insisted that he was expanding the market by opening up in neighborhoods without an existing store. Instead, independent owners spoke of being overwhelmed by competition from both Barnes & Noble and Borders Book Group, the rival chains sometimes setting up stores in close proximity to each other and to the locally owned business.

Barnes & Noble became so identified as an overdog that one of the 1990s’ most popular romantic comedies, “You’ve Got Mail,” starred Tom Hanks as an executive for the “Fox Books” chain and Meg Ryan as the owner of an endangered independent store in Manhattan.

“We are going to seduce them with our square footage, and our discounts, and our deep arm chairs, and our cappuccino,” Hanks’ character confidently declares. “They’re going to hate us at the beginning, but we’ll get ’em in the end.”

For a time, it seemed industry conversation was an ongoing response to Barnes & Noble. Publishers were known to change the cover or title of a book simply because a Barnes & Noble official had objected. “Angela’s Ashes” author Frank McCourt found himself condemned by the American Booksellers Association, the trade organization for independents, after agreeing to appear in a Barnes & Noble commercial. On the floor of the industry’s annual national trade show, long hosted by the ABA, independent store employees would hiss at attendees wearing Barnes & Noble badges.

When novelist Russell Banks, addressing Barnes & Noble’s annual shareholder meeting in 1995, declared that he was both a stock holder and a happy B&N customer, some independent sellers stopped offering his books.

“You must know that I’ll never read, buy or sell another word you write,” Richard Howorth, owner of Square Books in Oxford, Mississippi, wrote to him. “These are the kindest things I can think of to say to you.”

Tensions led to legal action when the ABA — on the eve of the 1994 convention — announced it was suing Barnes & Noble and five leading publishers for unfair trade practices. Some of the publishers were so angered they boycotted the gathering the following year and only returned after the ABA sold the show to Reed Exhibitions. In 1998, the ABA sued Barnes & Noble and Borders for unfair business practices (both cases were settled out of court).

Riggio began the 2000s at the height of power, with more than 700 superstores and hundreds of others outlets. But internet commerce was growing quickly and Barnes & Noble, with its roots in physical retail, lacked the imagination and flexibility of the startup from Seattle that called itself “Earth’s Biggest Bookstore,” Amazon.com. The online giant launched in 1995 by Jeff Bezos gained business throughout the 2000s and by the early 2010s had displaced Barnes & Noble through such innovations as the Kindle e-book reader and the Amazon Prime subscription service.

Bezos would liken himself to David taking down Goliath, although the contrast between the leaders also had the feel of an Aesop’s fable: The muscular, mustachioed Riggio, a boxer’s son, upended by the quick and clever Bezos.

“We’re great booksellers; we know how to do that,” Riggio acknowledged to the Times in 2016. “We weren’t constituted to be a technology company.”

Barnes & Noble started its own online site in the late 1990s, but such initiatives as the Nook e-book reader and a self-publishing platform failed to stop Amazon. Not even the collapse of Borders after the 2008-2009 economic crisis mattered for Barnes & Noble, which after decades of expansion closed more than 100 stores between 2009 and 2019.

By the time of Riggio’s retirement, independent sellers regarded the chain not as a threat, but as an ally in the fight against Amazon to keep physical stores alive. At the 2018 booksellers convention, Riggio and ABA CEO Oren Teicher, once enemies in business and in court, praised each other during a joint appearance.

“My standing here, doing what I’m about to do (introduce Riggio) would have been impossible to imagine several years ago,” Teicher said at the time. “The simple fact is that our business is stronger and American readers benefit when there is a vibrant and healthy network of brick-and-mortar bookshops all across the country.”

During the 2010s, Barnes & Noble seemed unleadable and unwanted. The board announced in 2010 that the company was for sale, but no one offered to buy it. Four CEOs left in five years and Barnes & Noble’s stock dropped 60% between 2015 and 2018. New rumors of a sale lasted for months before Elliott Advisors, which had previously purchased the British chain Waterstones, bought Barnes & Noble for $638 million and hired Waterstones chief executive James Daunt to lead B&N.

“I don’t miss being a business person, I had enough of that. But I do miss the bookselling part, helping to find books to recommend to customers,” Riggio told Publishers Weekly in 2021.

Bookselling and family often overlapped for Riggio. His brother Steve Riggio served for years as vice chairman of Barnes & Noble and another brother, Thomas Riggio, helped run a trucking company that shipped the store’s books. After being interviewed in 1974 by the trade publication College Store Executive, Leonard Riggio met for coffee with the editor, Louise Altavilla, who seven years later became his second wife (Riggio had three children, two with his first wife, one with his second).

Leonard S. Riggio was the eldest son of a prize fighter (who twice defeated Rocky Graziano) turned cab driver and a dress maker. Even in childhood, he advanced quickly, skipping two grades and attending one of the city’s top high schools, Brooklyn Tech. He studied metallurgical engineering at New York University’s night school before focusing on commerce, and by day absorbed the bookselling world and the rising cultural rebellion of the 1960s.

Working as a floor manager at the campus book store, he learned enough to drop out of school and start a rival shop in 1965 — SBX (Student Book Exchange), where he allowed student activists to use the copying machine to print copies of anti-war leaflets. SBX was so successful he bought several other campus stores and was in position by 1971 to buy Barnes & Noble and its single Manhattan store. A few years later, he became the rare bookseller to run television commercials, with the catchphrase “Barnes & Noble! Of Course! Of Course!”


Barnes & Noble opens a new chapter in old bank building

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Riggio and the independent community may have seemed to hold opposing values, but they shared a love of reading and the arts and a liberal political outlook. He was a generous philanthropist and a prominent supporter of Democratic politicians. He was even friendly with the consumer activist and presidential candidate Ralph Nader, who featured Riggio, Ted Turner and Yoko Ono among others in his 2009 novel “Only the Super-Rich Can Save Us!”, in which Nader imagines a progressive revolution from above.

“Ever since he was a boy from Brooklyn, he’d had a visceral reaction to the way workings stiffs and the poor were treated on a day-to-day basis,” Nader wrote of Riggio, who did at times stand apart from his management peers. When some 200 business leaders were questioned by Fortune magazine in the 1990s about their political ideas, only Riggio supported the raising of worker pay.

“Money can become a burden, like something you carry on your shoulders,” he told New York magazine in 1999. “My nature is to be a ball-buster, but my role is to help people.”



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9/15: CBS Weekend News – CBS News

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Suspect who had rifle near Trump in custody after Secret Service opens fire; Groundbreaking commercial Polaris Dawn space mission splashes down

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What’s known about Ryan Wesley Routh, suspect in possible Trump assassination attempt

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A picture is emerging of the suspect who officials say pointed a high-powered rifle at former president Donald Trump on a Florida golf course Sunday afternoon. 

Ryan Wesley Routh, 58, was armed with an AK-47-style rifle and was 300-500 yards away from Trump when members of the former president’s Secret Service detail spotted him, according to Palm Beach County Sheriff Ric Bradshaw. Routh was a few holes ahead of where the president was golfing at the Trump International Golf Course in West Palm Beach, officials said. 

Members of the Secret Service detail opened fire at Routh, according to law enforcement officials. It’s not clear if Routh fired any shots. Bradshaw said a witness saw a man jumping out of the bushes and fleeing in a black Nissan. The car was pulled over and the driver detained and identified as the suspect. Law enforcement found the rifle, a scope, two backpacks with ceramic tile and a GoPro camera in the bushes at the scene. 

The FBI and U.S. Secret Service are investigating the incident, which the FBI said “appears to be an attempted assassination of former President Trump.” 

As the investigation continues, here’s what we know about Routh:

Election 2024 Trump
Photos that show an AK-47 rifle, a backpack and a Go-Pro camera on a fence outside Trump International Golf Club taken after an apparent assassination attempt of Republican presidential candidate former President Donald Trump, are displayed during a news conference at the Palm Beach County Main Library, Sunday. Sept. 15, 2024, in West Palm Beach, Fla.

Stephany Matat / AP


A decades-long criminal history

Routh’s most recent address is listed in Hawaii, but he spent most of his life in North Carolina, according to property records. Routh owned Camp Box Honolulu, a shed-building company, according to his LinkedIn profile. The account also says that he studied at North Carolina Agricultural and Technical State University and graduated in 1998. 

Records show his problems with the law go back to the 1990s and include less serious charges, like writing bad checks. But in 2002, he was charged with a felony — possession of a weapon of mass destruction — according to North Carolina Department of Corrections records. 

Between 2002 and 2010, Routh was also charged with a number of misdemeanors, including a hit-and-run accident, resisting arrest and a concealed weapons violation, records show.

Suspect criticized Trump online 

Routh voted Democratic in the 2024 primary election in North Carolina, and he voted in person, according to the North Carolina State Board of Elections. He appears to be registered as an unaffiliated voter. 

His X account, which has now been suspended, included a number of posts about Trump. 

“@realDonaldTrump While you were my choice in 2106, I and the world hoped that president Trump would be different and better than the candidate, but we all were greatly disappointment and it seems you are getting worse and devolving,” he wrote in a June 2020 post. “I will be glad when you gone.” 

He also referenced the July 13 assassination attempt on Trump in multiple posts, suggesting that President Biden and Vice President Harris should visit the injured and attend the funeral of the Pennsylvania rally-goer who was killed.

A Facebook account under Routh’s name was no longer online on Sunday evening.


Suspect was pointing rifle toward Florida golf course where Trump was golfing, officials say

08:34

Ukraine supporter 

Routh was passionate about fighting for Ukraine, even traveling overseas to fight in the country’s war against Russia in 2022. 

“I am coming to Ukraine from Hawaii to fight for your kids and families and democracy.. I will come and die for you,” he wrote on X. 

In one post on LinkedIn, he shared a photo of himself in Kyiv, Ukraine’s capital. 

A CBS News review of Routh’s social media shows his pro-Ukraine views seeped into his public statements as well. He urged people, even those who didn’t have military skills, to take up arms for Ukraine. He was interviewed by several news organizations, including The New York Times and Semafor in 2023, and Newsweek Romania in 2022. He was quoted about his efforts to recruit volunteer fighters to aid Ukraine in its fight against Russia’s invasion, though it wasn’t clear whether he had succeeded. 

“This is about good versus evil,” he told Newsweek Romania. 

contributed to this report.



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9/15/2024: The Prosecution of January 6th; Danger in the South China Sea; Dua Lipa

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First, a report on the Jan. 6 Capitol riot prosecutions. Then, how a Philippines, China clash could draw in the U.S. And, Dua Lipa: The 60 Minutes Interview.

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