By Heather Burke and Carol Wolf
Sept. 18 (Bloomberg) -- Alan Greenspan's new memoir topped the best-seller list at Amazon.com Inc. for a second day as the former Federal Reserve chairman showed that people still want to hear what he has to say.
``The Age of Turbulence: Adventures in a New World,'' which went on sale yesterday, was ranked ahead of O.J. Simpson's book, ``If I Did It: Confessions of the Killer,'' and the last Harry Potter book by J.K. Rowling on Amazon.com, the world's largest Internet retailer.
Greenspan, 81, led the Fed for 18 years until January 2006, and is widely considered to have played a major role in engineering the 1991-2001 economic expansion, the longest in U.S. history. The 531-page book recounts his childhood in New York, his relationships with the six presidents he served and his outlook for the U.S. economy in 2030.
``It will be a best seller in the narrow circles of Wall Street, government, Washington and top businessmen and women,'' said Edward Atorino, an analyst who follows the publishing industry at Benchmark Co. in New York.
First-day sales of the memoir, published by Penguin Press, ``far exceeded our expectations,'' said Antoinette Ercolano, vice president for trade-book buying at Barnes & Noble Inc., the world's biggest bookstore chain.
``We expect it will hit our nonfiction hardcover bestseller list,'' Ercolano said today. Greenspan spoke to more than 700 people last night at the retailer's location in New York's Union Square, she said.
Tammy Hovey, a spokeswoman for Amazon.com, declined to provide sales figures for the Greenspan title.
Top Selection
Borders Group Inc., the second-largest U.S. bookseller, will feature ``The Age of Turbulence'' as a top selection in an e-mail to Borders' 20 million rewards program customers.
Sales ``were very strong and exceeded our expectations,'' Borders spokeswoman Kolleen O'Meara said today. She declined to give sales figures. Greenspan did a book signing at its Wall Street store today.
``We anticipate this will be a big book in the fall and on through the holidays,'' Borders spokeswoman Anne Roman said in an interview yesterday.
Seattle-based Amazon.com climbed $1.84, or 2.1 percent, to $88.75 as of 4 p.m. New York time in Nasdaq Stock Market trading. Barnes & Noble, based in New York, added $1.62, or 4.6 percent, to $36.62 in New York Stock Exchange composite trading. Borders, based in Ann Arbor, Michigan, rose 53 cents, or 3.7 percent, to $14.96.
Washington Heights
Greenspan writes about growing up in New York's Washington Heights neighborhood and marrying Andrea Mitchell, a reporter with NBC Universal Inc. The book's final chapter contains Greenspan's predictions for the U.S. economy in 2030, when he predicts China will be the nation's major competitor.
``He has experience and age on his side, and therefore I think people want to hear what he has to say,'' said Jens Hewerer, 37, of Jersey City, New Jersey, who attended the reading yesterday in Union Square.
Amazon.com's best-selling book of all time is 1998's ``Who Moved My Cheese? An Amazing Way to Deal with Change in Your Work and in Your Life,'' by Dr. Spencer Johnson, said Hovey.
Two novels by J.K. Rowling, ``Harry Potter and the Deathly Hallows'' and ``Harry Potter and the Half-Blood Prince,'' rank second and third, she said.
To contact the reporter on this story: Heather Burke in New York at hburke2@bloomberg.net; Carol Wolf in Cleveland at cwolf@bloomberg.net.
Last Updated: September 18, 2007 16:16 EDT
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