Contact: Jocelyn Córdova
John Wiley & Sons, Inc.
John Wiley & Sons, Inc.
HOBOKEN, NJ – August 14, 2008 – John Wiley & Sons, Inc. (NYSE: JWa) (NYSE: JWb), today announced the signing of a multiple-book deal with John C. Bogle, founder of The Vanguard Group, author, and one of the most respected and influential leaders in investing. Considered by many to be the “Father of Index Investing,” Mr. Bogle has long been praised for his work by financial luminaries including Warren Buffett, Charles T. Munger, Paul Samuelson, Bill Gross, and Burton Malkiel, among many others. He’s considered one of the investment industry’s greatest visionaries and a champion for the individual investor. In accordance with his custom, Mr. Bogle will donate all of his book royalties to charity.
The first book is scheduled to be published in November 2008. Titled Enough., it is inspired by a 2007 Georgetown University commencement address by Mr. Bogle which examined the attributes of a life well-lived and warned about the risks presented by a financial system that is subtracting value from our society. As the credit crisis has wrought havoc through much of the economy in 2007 and into 2008, Mr. Bogle’s warnings proved to be prophetic. In the book, he expands on this theme reminding us of what is or should be "enough" in money, in business, and in life. The message is compelling, yet ultimately optimistic.
While Mr. Bogle levels much criticism at the financial industry, he calls people to arms -- to lead a life of value through character. Quoting from the forthcoming book:
"It's my conviction that those of us who do engage in business and financial careers carry a special burden. For it is in business and finance where most of the people in our society make the most money. Yet money itself can easily deceive us about what we do and why we do it. As
Descartes reminded us four full centuries ago, 'A man is incapable of comprehending any argument that interferes with his revenue.'”
As Gretchen Morgenson in The New York Times reported, "Mr. Bogle . . . is an optimist at heart. But he believes that we must work to correct the growing imbalances in our country." In Enough., Bogle turns to sources ranging from Kurt Vonnegut and David Brooks among others in an inspired cast, to the Declaration of Independence and the U.S. Constitution. In all, his message is that we need a return to values and virtue to work our way through today’s deep-seated problems in our society.
"This is Jack Bogle's best book so far, and we anticipate that it will be widely embraced," commented Joan O'Neil, Executive Vice President &
Publisher, John Wiley & Sons, Inc. Pamela van Giessen, Editorial Director added, "It is an honor and a privilege to publish Mr. Bogle's work.”
The second book is titled Jack Bogle Speaks, and it is currently scheduled for publication in the fall of 2009.
John C. Bogle founded the Vanguard Group, Inc., in 1974 and served as chairman and chief executive officer until 1996 and senior chairman until 2000. He is currently President of its Bogle Financial Markets Research Center. In 1999, Fortune magazine named Mr. Bogle as one of the four "Investment Giants" of the twentieth century; in 2004, Time named him one of the world’s 100 most powerful and influential people, and Institutional Investor presented him with its Lifetime Achievement Award. He is the author of several books on investing, most recently, the bestselling The Little Book of Common Sense Investing (Wiley; March 2007).
Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for 200 years, helping people around the world meet their needs and fulfill their aspirations. Since 1901, Wiley and its acquired companies have published the works of more than 350 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry and Peace.
Our core businesses publish scientific, technical, medical and scholarly journals, encyclopedias, books, and online products and services; professional/trade books, subscription products, training materials, and online applications and websites; and educational materials for undergraduate and graduate students and lifelong learners. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada, and Australia. The Company's Web site can be accessed at http://www.wiley.com. The Company is listed on the New York Stock Exchange under the symbols JWa and JWb.