Word: putnam
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...dinnertime at the Manhattan publishing offices of G.P. Putnam's Sons. The last bag of taco chips had long since tumbled from the corridor vending machine, but Subsidiary Rights Director Irene Webb, 30, and her colleagues were not leaving their desks. June 15, 1978, was a day for executive field rations. Since 9:30 a.m. Webb's ear had been grafted to her telephone, accepting bids for what ended as the most expensive paperback auction in publishing history: $2.2 million for the rights to reprint Mario Puzo's new novel, Fools Die, plus $350,000 to reprint his alltime bestselling...
...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...
...average of 930 to $1.65. The consumer price index for the same period rose 44.8%. Where will it end? Inflation is not likely to vanish and neither is the desire of publishers to secure bigger blockbusters. This is almost certain to cause new records in paperback auctions. Says Putnam's Webb: "There's no ceiling. God knows, there's no ceiling...
...stubbornness was justified. Late in 1965 a Putnam editor stopped in at Magazine Management's offices, overheard Puzo telling Mafia yarns and offered a $5,000 advance for a book about the Italian underworld. The rest is publishing history?and American sociology. Puzo's saga of blood and money, treachery and revenge, class injury and ferocious pride, is one of the most gripping stories in modern popular fiction. Despite its cast of venal monsters and hired killers, The Godfather offered a nostalgic view of the embattled family defending and enriching itself in a ruthless world. Don Corleone even became...
...University officials have accepted invitations from President Bok to serve on the board, including Edward Lashman, director of external projects, George Putnam Jr. '49, Harvard treasurer, and Robin Schmidt, vice president for government and community affairs, plus Wyatt, Zeckhouser and O'Brien. The board will basically serve as a liason to the University, while the corporation members will be responsible for the actual management, Wyatt says, justifying the fact that none of the board members is specially trained in real estate...