Thursday, March 19, 2009

Cha-Ching! Obama Cashed In Before He Even Swore In

President reached agreement a few weeks before his inauguration

The Associated Press - Thurs., March. 19, 2009

WASHINGTON - President Barack Obama, a best-selling author who received royalties of $2.5 million last year, will get hundreds of thousands more for a youth-oriented version of his published memoir and will write a nonfiction book after he leaves the White House.

Obama agreed in early January to deliver the new book after he leaves office, which could be in 2017 if he wins a second term. The White House said he already had a deal with Crown Publishing Group to write another book, and agreed Jan. 9 that he would produce the book after his term ends.

About a week later, shortly before his inauguration, Obama agreed to a $500,000 advance for an abridged version of "Dreams From My Father" that would be suitable for middle school or young adult readers, according to a new personal financial disclosure report released this week.

Obama will get $250,000 of the advance and the publisher will get the other half, a White House spokesman said Thursday, speaking on condition of anonymity because he was not authorized to be quoted by name.


Waldo said...

And the point is?

He's just a free market author selling some book prospects.

Anonymous said...

Shut up and write your own book.

Or sue Comcast.

PS: I luv ya.

Anonymous said...

I don't understand, Tyler. Is there something wrong with making a business deal on a book by President Obama to be written after the end of his Presidency?

Perry Hood