Reason #23,071 Why We Are In A Recession
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Alex Knapp | Monday, March 2, 2009 |
Publishing companies think that a book by Rod Blagojevich would sell well enough to justify a six-figure contract.
Former Gov. Rod Blagojevich (D-Ill.) has landed a six-figure book, his book publisher announced Monday.The former governor signed with independent publisher Phoenix Books. The exact terms of the deal were not disclosed, but the figure is significantly less than the amount paid for other major political memoirs, including one from Obama campaign manager David Plouffe, who landed more than $1 million for his book.
Somehow, I doubt the publisher is going to make its money back.
(link via Conor Clarke)
About the Author: Alex has a B.S. in Biochemistry from Worcester Polytechnic Institute and a J.D. from the University of Kansas School of Law. He has been published in the Kansas City Star, TCS Daily, and Comic Book Resources. He joined the staff of OTB in June 2006. Additionally, he’s been writing at Heretical Ideas since October, 2001, and also reviews cigars at Cigar Jack's Cigar News and Reviews.
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The question becomes whether not making their money back was ever the object in the first place. In looking at his recent record, one almost has to figure that Blagojevich does everything he does for reasons of political and monetary gain. One also gets the impression that he doesn't see any differentiation between the two.
On that basis, one might assume that the six figure salary for the book that nobody's going to read is in fact political payback for something or another. I suspect if we look closely will find that the publisher in question, while Hollywood based, has some of it's operations in Illinois.
I think that stupidity and poor business sense is a better explanation. Palin's supposedly working on a nine-figure deal, which is just as economically unfeasible--politicians' memoirs just don't sell that well.
Alex,
"a nine-figure deal"
Assuming that all of those figures are to the left of the decimal point, it means she is getting $100 million + for her book. In order for it to make money, it means multiple tens of millions of copies need to be sold, approximately one per person voting for either major party ticket. I have trouble believing anyone seriously believes that to be the case.
Dantheman--my bad. I meant "eight-figure deal." She's looking to score $11 million for her book.
