Royalty Retreat
The Frankfurt Book Fair last week was a thanda affair, according to all accounts. While publishers and booksellers insist that the meltdown won’t affect book sales (in fact, book sales are reported to rise during economic slumps because people have less money to go out and get more house-bound, taking cold comfort between the covers of a book for a change). But all ye aspiring writers hoping for that big, fat advance, take heed. Publishers won’t be so eager anymore to bid huge sums as advance royalties.