Each Monday, here on Editor's Corner, I'm going to take a look at some of the news that has been dominating the book industry in the preceding week.

The news, as usual, is mostly gathered thanks to the excellent resources that are the Publishers Weekly website and the GalleyCat blog.

• Google settlement news: "Before he began his remarks, Authors Guild attorney Michael Boni, being from Philadelphia, said he felt a little like local hero Rocky "being beaten about the head and face for 15 rounds." But like Rocky, he added, he hoped to come back. It was indeed a long day for the plaintiffs as they sat through an undercard of some 21 objectors who assailed the deal over the course of the daylong hearing. The main event, however, was the squaring off of two heavyweights: the parties, including Google, the Authors Guild, and the AAP, vs. the U.S. Department of Justice, which argued forcefully for the deal to be rejected. In an hourlong session before Judge Denny Chin, the two sides traded blows as the Google settlement, after more than 14 months of wrangling, finally got its day in court..."
• Despite the combination of a fragile economy and a roiling publishing industry, "people continue to launch presses, although some are doing so by creating innovative business models to minimize their financial risk. Five Stones Press, a press headquartered in Atlanta, jumpstarted operations this past fall by adopting a business model that's already been used in the music and movie industries to finance projects: mystery writer David Fulmer and two business-savvy partners, communications professional Tara Coyt and finance expert Anna Foote, sold 100 shares to 32 of the author's friends and fans in the press's debut publication, The Fall, by Fulmer. The Fall is scheduled for release March 15, 2010..."
• In its latest effort to creatively combine print and digital editions in one project, "First Second, the graphic novel imprint of Macmillan Publishing, is launching Zahra's Paradise, an unusual project that combines a real-time nonfiction narrative in a fictional setting. Zahra's Paradise is a graphic novel about the current political and social situation in Iran, written by Amir, a human rights activist, and illustrated by Khalil, an artist who works in a variety of media. It will be serialized as a Web comic at www.zahrasparadise.com beginning February 19 and will be published as a book collection by First Second in 2011..."
• A team of investors have decided to support a new publishing venture: "the multimedia eBook company Vook just landed $2.5 million in seed funding. According to the release, investors include investor Ron Conway, Huffington Post chairman Kenneth Lerer, Maples Investments, Baseline Ventures and Founder Collective..."
• Herbert Simon "the owner of the Indiana Pacers and "chairman emeritus" of the Simon Property Group" has purchased Kirkus Reviews--rescuing the beloved book review...