March 8, 2006

News & Opinion: Wow, it'd be great to be Greenspan

By: Dylan Schleicher @ 2:45 PM – Filed under: Management & Workplace Culture

Alan Greenspan is being given an $8.5 million advance from Penguin Press to publish his memoir. It's supposedly the second largest advance ever paid to a nonfiction author (the first being the advance for Bill Clinton's memoir). I guess 18 years at the Federal Reserve did him fairly well. The book is due out next fall and Mr. Greenspan plans to write about his time at the Fed.
"Assuming a cover price of about $30, the publisher which receives about half the price of each book sold would have to sell nearly 600,000 copies of the book to recover the cost of the advance, and Mr. Greenspan would not receive any additional royalties until the book sells nearly 1.9 million copies." (NYTimes article)
Obviously, to sell that many books, Greenspan's book needs to go beyond the niche market of financial folks; yet with more than 18 years of experience, he's got much to share. So what do you think -- are you looking forward to Greenspan's memoir?

About Dylan Schleicher

Dylan Schleicher has been a part of the 800-CEO-READ claque since 2003. Even though he's stayed on at the company, he has not stayed put. After beginning in shipping & receiving, he joined customer service and accounting before moving into his current, highly elliptical orbit of duties overseeing the ChangeThis and In the Books websites, the company's annual review of books and in-house design. He lives with his wife and two children in the Washington Heights neighborhood on Milwaukee's West Side.