-Caveat Lector-
The Big Gamble on a Hillary Book
By JEFFREY A. KRAMES
The New York Times
December 20, 2000
CHICAGO - Although the frenzied bidding war for Hillary Clinton's
autobiography had many publishing houses captivated last week, my
company did not participate, and I can't say that I have any
regrets. The $8 million advance that Simon & Schuster is paying
Mrs. Clinton is a huge gamble, though not as absurd as many
believe: her side of the Clintons' story is the only one that's
unexplored. But her publisher would have to sell the better part
of two million copies to make back the advance, and there's a
good chance that buyers hungry for a tell- all memoir aren't
going to find it in this book.
Through the actions of her husband, Mrs. Clinton has had to
survive a brand of public ignominy that no other first lady has
ever endured. Through it all, she has demonstrated a resiliency
that has earned the respect of even her harshest critics. How and
why she so steadfastly stood by her husband is what makes her
story so compelling � but only if she really tells it.
Since Simon & Schuster's $8 million two-book deal a decade ago
with former President Ronald Reagan, publishers have overpaid for
celebrity autobiographies. Many of these celebrity stories,
especially those written by political figures, lose money, but
the publishers are willing to gamble on a big success. Some
celebrity books also bring in money for foreign-language and
paperback rights; with these licensing deals, Simon & Schuster
might be able to recover the advance on Mrs. Clinton's book by
selling just a few more than a million copies. Publishing her
book will also bring prestige that is worth money in itself.
The timing of the book's publication, set for 2003, also suggests
another possibility. There is talk � by everyone other than Mrs.
Clinton � of a future presidential bid, and that could come in
2004. If it did, and looked at all successful, Mrs. Clinton could
be the hottest national personality around when the book comes
out. That possibility was undoubtedly factored into her advance,
much as a rumored piece of good news is factored into a company's
stock price.
But in the end, much of the success of the book in the stores
will come down to how candid Mrs. Clinton is willing to be about
her marriage.
The conventional publishing wisdom would suggest that she is far
more likely than her husband to produce an interesting and
sellable book. That's because first ladies are almost always more
candid than their husbands. In her aptly titled "My Turn," Nancy
Reagan not only addressed the charge that she had wielded too
much power in her husband's White House, but spoke out on
everything from the first family's use of astrologers to her true
feelings about members of her husband's cabinet. In contrast,
President Reagan's 750-page tome, "An American Life," was not
nearly as forthcoming.
Although nothing is yet on paper, Mrs. Clinton did a masterful
job of convincing publishers that she will follow the first-lady
pattern, addressing the most sensitive parts of the Clintons'
story, including the scandals. But by the time the book is
published, she will be in her third year in the Senate, with a
political future of her own to think about. How likely is it,
really, that Senator Clinton would settle old scores, spill the
secrets of the bedroom or in any way reveal things that might be
twisted and used against her on a campaign trail?
With the buzz of the advance, the promise of a huge marketing
blitz and the power of her name, Simon & Schuster will have
little trouble convincing stores to stack Mrs. Clinton's book to
the ceiling. However, if the juicy revelations aren't there,
getting people to buy it may be a different story.
Jeffrey A. Krames is publisher and editor in chief of the trade
books division of McGraw-Hill.
=================================================================
Kadosh, Kadosh, Kadosh, YHVH, TZEVAOT
FROM THE DESK OF:
*Michael Spitzer* <[EMAIL PROTECTED]>
~~~~~~~~~~~~~~~
The Best Way To Destroy Enemies Is To Change Them To Friends
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