Wednesday, April 1, 2009

Bailing Out Books

I had hints of this, but I didn't want to get my hopes up. But the press conference last night on Books TV confirmed it! 

I'm delighted to announce that The American Book Society of Publishing Association of America announced they're taking a unified stand and refusing to pay any advances over $1million to debut authors, TV reality stars, and older thriller writers who don't sell tons of copies anymore but still get paid like they do. 

Who knows, maybe ABS Publishing Association of America will decide to tackle the returns system next! 

12 comments:

Josephine Damian said...

Interesting development. Let's hope they expand it to NO book deals for celeb-du-jours like Joe-the-plumber.

Anonymous said...

Interesting, especially in a country where we still have a capitalist system.

I know, in many ways it's a good thing. There have been ridiculous advances paid to people who didn't deserve them. But there are also a few things, subtle implications, that frighten me about the direction we're all going these days.

Jodi Meadows said...

Huh, interesting. Can't say I'm against it. Leave some money for the rest of us!

Jonathan Lyons said...

April Fools unfortunately... The American Book Society of Publishing Association of America doesn't exist, at least I don't think it does.

Jodi Meadows said...

Cruelest April Fools yet! ;)

I just figured it was one of those Long Name Things I hadn't heard of.

NerdSnark said...

HAHA! That's just wrong, but a good one.

D. D. said...

Does that mean I have to give back the seven figure advance I received? I've actually started writing the book.... :-)

Anonymous said...

Ah, that was brutal. I'm the anon @ 12:51 and I was seriously worried.

Brutal, but damn good too.

Rabid Fox said...

Ouch. April 2nd ... belated burn for me. Well played.

Josephine Damian said...

Ouch! Well you sure had me fooled! If only it were true!

I'd like to make a lawyer joke but, well, better not...

Glen Akin said...

lol i saw this late. Nice one =))

Jessica said...

Ha! Well, now I know it's a joke but you had me worried. Not that I think huge advances are very smart, but I hate the thought of private enterprise being owned like this. Being controlled. Makes me a little worried that if I do something to make money, I won't get to keep it. "For the greater good", of course.