Behold, the wonders of the market. The shareholders are king; the board of directors and CEO answer to nobody but them. Back when I started bookselling, many years ago, most publishers were privately owned, and operated on very thin margins. They employed dozens of readers, who did nothing but read through all the over-the-transom unsolicited manuscripts, hoping to find the next Truman Capote or Jane Smiley. Nowadays, of course, most of the publishers are part of "media groups" and are expected to generate good profits; what was the first to go? The readers, and plenty of the editors, basically, all the people who loved books and writing.
The same goes for bookselling today. The shareholder (or, more precisely, the big shareholders) are king, and bookselling is about the same as selling shoes at the mall. No more craft, no more love for the written word or the trade, just cash, and profits, and all the rest can go to hell.
The trade is gone, folks. Unless you can get on with a mom & pop, there isn't a book trade anymore. It's become a commodity. This is the way things are today, and it's time to look for the exit.