What does a TRUMP presidency look like?

[grumbler]

Well, it was $65 million, not $6 million.

Of course, it raises questions of undue influence as Cel said, especially as the likelihood of recouping that money through sales seems low.

But even if there's zero evidence of that having happened here, given the current political climate and the troubles faced by the Democrats in particular, to accept such a large sum weeks after leaving office to my mind at least sends the wrong message.

There was a bidding war.  If, as you argue, the various book publishers were really bidding to reward the Obamas for some corruption the Obamas carried out while in office, what is their motive?  Each of them has already gotten the benefit, and it seems foolish to try to compete to make the largest payoff.

Maybe it would be better for you to look at the facts before you speculate about corruption.

[Eddie Teach]

Grumbler is being no fun. Typical.

[CountDeMoney]

Well, it was $65 million, not $6 million.

Of course, it raises questions of undue influence as Cel said, especially as the likelihood of recouping that money through sales seems low.

But even if there's zero evidence of that having happened here, given the current political climate and the troubles faced by the Democrats in particular, to accept such a large sum weeks after leaving office to my mind at least sends the wrong message.

What message is that?  Don't write books?

[Camerus]

I'm not arguing there was any "corruption."    As I wrote in the post you quoted:

But even if there's zero evidence of that having happened here, given the current political climate and the troubles faced by the Democrats in particular, to accept such a large sum weeks after leaving office to my mind at least sends the wrong message.

My point, which perhaps wasn't clear enough, was that it struck me as sending the wrong message,  i.e. in a political climate in which populism is a growing threat with the perception of out of touch political elites, and Democrats in particular being criticized on this score in the recent presidential election, I don't think getting a 65 million dollar payoff weeks after leaving office helps any. You may disagree of course.

[CountDeMoney]

Is it 65 million taxpayer dollars?

[DGuller]

Well, it was $65 million, not $6 million.

Of course, it raises questions of undue influence as Cel said, especially as the likelihood of recouping that money through sales seems low.

But even if there's zero evidence of that having happened here, given the current political climate and the troubles faced by the Democrats in particular, to accept such a large sum weeks after leaving office to my mind at least sends the wrong message.

There was a bidding war.  If, as you argue, the various book publishers were really bidding to reward the Obamas for some corruption the Obamas carried out while in office, what is their motive?  Each of them has already gotten the benefit, and it seems foolish to try to compete to make the largest payoff.

Maybe it would be better for you to look at the facts before you speculate about corruption.

To be fair, only the highest bidder has to be corrupt for the argument to work.  Maybe the other publishers were bidding on it like they were actually trying to make money from the book, so they most they could offer was a million or two.

[celedhring]

They'll need Harry Potter sales to make so much money back. Maybe they will sell that much, or the publisher just wants the PR (but that's some damn expensive PR). But I don't think it's out of place to raise eyebrows at such a figure.

I want to be clear, I don't think anybody reached out and said to Obama "do us a solid and we'll buy your book for $65m after the presidency", but the whole politician aftermarket - the speech circuit, book deals, donations, etc... - smacks of tacit institutionalized soft corruption. "Do well by us, and there will be goodies once you're out."

[grumbler]

To be fair, only the highest bidder has to be corrupt for the argument to work.  Maybe the other publishers were bidding on it like they were actually trying to make money from the book, so they most they could offer was a million or two.

But, then, the other bidders from the other publishers would be noting that a $65 million payout (which is only speculation) was way out of line with their bids.

[viper37]

They'll need Harry Potter sales to make so much money back. Maybe they will sell that much, or the publisher just wants the PR (but that's some damn expensive PR). But I don't think it's out of place to raise eyebrows at such a figure.

I want to be clear, I don't think anybody reached out and said to Obama "do us a solid and we'll buy your book for $65m after the presidency", but the whole politician aftermarket - the speech circuit, book deals, donations, etc... - smacks of tacit soft corruption. "Do well by us, and there will be goodies once you're out."

that's "books", not book.

And let's assume, out of nowhere, because I have no idea how much a publisher's share is worth, that Penguin Random house gets 1$ out of every book they sell, after all expenses.

That means they need to sell 65 million books worldwide to recoup their investment and start making money.  They can achieve that with one book.  All the others are net money coming in.

The number is high, but I don't think it's that high for the US market.

[Admiral Yi]

It's crazy.  No one reads these presidential memoirs.  I see them all the time in the bargain bin for $2.39.

[grumbler]

They'll need Harry Potter sales to make so much money back. Maybe they will sell that much, or the publisher just wants the PR (but that's some damn expensive PR). But I don't think it's out of place to raise eyebrows at such a figure.

Now you are just making stuff up.  Without looking it up, how much profit (excluding royalties) do you think a publisher makes on:
(a) a $30 hardback, and
(b) a $15 ebook?

I want to be clear, I don't think anybody reached out and said to Obama "do us a solid and we'll buy your book for $65m after the presidency", but the whole politician aftermarket - the speech circuit, book deals, donations, etc... - smacks of tacit institutionalized soft corruption. "Do well by us, and there will be goodies once you're out."

I am as leery as you of the speech circuit bonanza, but I think you are barking up the wrong tree with book advances.  Megyn Kelly got a reported $10 million advance on her memoirs, and I think we can safely predict that the Obamas will sell more than 10 times as many books as she will.  It would be hard to argue that Kelly was also the recipient of a "do well by us, and there will be goodies once you're out" offer.

The Clintons got (separately) a total of $42 million (2017 dollars) for their memoirs, and earned out pretty quickly.  If the Obamas outsell The Life of Pi they will likely earn out.

[CountDeMoney]

It's crazy.  No one reads these presidential memoirs.  I see them all the time in the bargain bin for $2.39.

I liked Grant's memoirs.     And Nixon's.

[grumbler]

It's crazy.  No one reads these presidential memoirs.  I see them all the time in the bargain bin for $2.39.

Even oif the remainders end in the bargain bin, they full price sales can easily make a tidy profit.  Barack  Obama sold more than 4.5 million copies of memoirs before he even ran for the Presidency. Hell, Sarah Palin's book sold more than 1.5 million copies!

[DGuller]

I would've never guess that Sarah Palin had a book, much less that she wrote one.

[grumbler]

I would've never guess that Sarah Palin had a book, much less that she wrote one.

it was probably a coloring book.