From the department of holy sh!t.

Houghton Mifflin Harcourt has asked its editors to stop buying manuscripts.  From Pubisher’s Weekly:

Josef Blumenfeld, v-p of communications for HMH, confirmed that the publisher has “temporarily stopped acquiring manuscripts” across its trade and reference divisions. The directive was given verbally to a handful of executives and, according to Blumenfeld, is “not a permanent change.” Blumenfeld, who hedged on when the ban might be lifted, said that the right project could still go to the editorial review board. He also maintained that the the decision is less about taking drastic measures than conducting good business.

In other news, as a cost-cutting measure GM has decided to stop building cars, 20th Century Fox will cease producing movies, and Delta has decided to stop flying those very expensive aircraft. All three believe that by cutting back on their largest capital expenditures will allow government bailouts to continue paying their executives.