UPDATE ON OBAMA BOOK STORY
Comment on the Obama book money from a White House source who did not want his name used.....
"This was in the works for months. Finished the paperwork in January. Not a "book deal". It is just a license from Crown to the children's division covering the existing book. They are abridging Dreams for middle grade and young adults. He is approving the abridgement. Just like dozens of foreign licenses, for instance, that were issued for his books over the years."
WASHINGTON--The Washington Times is reporting that best selling author President Obama lined up a $500,000 book advance deal on Jan. 15, just before his inauguration.
The report, by Christina Bellantoni and Jim McElhatton with Chuck Neubauer contributing said "the advance is against royalties under a deal with Crown Publishing, a division of Random House. The project calls for an abridged version of his book "Dreams From My Father" for middle-school-aged children, according to the disclosure."
The Washington Times reported that a "White House aide said that the deal had been in the works for weeks and that the publisher will abridge the book. The aide, speaking on a condition of anonymity, said the publisher will get half of the money while Mr. Obama will sign off on the final version."