Word: coverings
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Dates: during 1970-1979
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...spend $125,000 to cover the same ground in six days that thousands of airline passengers travel every week in a few hours? At a press conference, Abruzzo talked in much the same terms that explorers have used for centuries: "Unless frontiers are challenged from time to time-whether they be flying a balloon, breaking an altitude record in a plane or writing a fine piece of literature -we don't move forward as a society." And Anderson described the lure of ballooning: "There are no books or music up there, but there is the whole world...
...underwriters' syndicate. The bonds sold out in a day; the underwriters split a $3 million fee, and a Chicago savings and loan association got the job of lending out most of the proceeds as mortgage money. The rest, $14 million, was set aside in a special fund to cover any defaults; the income from this money, which is to be invested in high-yield (8.5%) Government securities, will cover the underwriters' fee and other costs. Unlike federal home-loan subsidies, which now are usually targeted for lower-income home buyers, these mortgages are available to applicants with incomes...
...first hard-cover edition of Fools Die is not scheduled to go on sale until October. This meant that the paperback publishers were bidding that June day on futures, as if the book were listed on the commodity exchange along with soybeans and pork bellies. With good reason. The booming paperback business can become as risky, and profitable, an arena as the stock market and the gambling casino. Fortunes have changed hands at paperback auctions and reprint sales; unknowns have become overnight celebrities because of a paperback success. Authors like John Jakes (The Bastard), institutions like the Agatha Christie estate...
...Puzo case, the hard-cover publisher, Putnam, will receive only 40% of the advance; Puzo gets the rest. Most authors settle for a 50-50 arrangement. The novelist expects to take his $1.5 million share in chunks spread over five years. With 10% going to his agent and approximately half of the rest for taxes, he should eventually pocket at least $500,000 from the record $2,550,000 auction...
...years before high-powered auctions, hard-cover houses would circulate manuscripts to their friends in the paperback business. Back would come sealed bids, with the rights going to the highest offer in a one-round competition. In 1957, for example, Fawcett paid $100,000 for rights to James Gould Cozzens' novel of emotional middle-age spread, By Love Possessed. Four years later the same house paid $400,000 for William L. Shirer's The Rise and Fall of the Third Reich...