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They're holding many hostage. Those that don't have agents and/or agents with attorneys are hitting a brick wall.I wonder how many authors do they have left?
They're holding many hostage. Those that don't have agents and/or agents with attorneys are hitting a brick wall.
Unless you're using the accrual method of accounting, you recognize income when received and not when earned. And when I say "fictional" I mean that I think what I received under-reports sales, especially ebook sales. Even if I was on accrual basis, I'd be writing off the income accrued as a bad debt expense and the whole thing would still be a wash.Jana, if your royalty statements are wrong, will IRS believe them or you? Will you have to pay taxes on the money you didn't actually receive? Or will these erronious royalty statements lead IRS to Dorchester?
In the past IRS has shown a certain amount of interest in pay to play agent contracts when they are presented as cost of being a writer. The interest was in the agent, not the writer. IRS agaent to writer, "You need a new agent."
Per Publisher's Lunch:
Prebich Reported Out At Ailing Dorchester, and More People News, Etc.
Former employees of Dorchester report that ceo John Prebich (who also ran the
company's magazine division, Dorchester Media) left the company on Friday.
Queries to Prebich and other remaining employees seeking confirmation were not
answered.
After rumors surfaced over the weekend that Dorchester CEO John Prebich had left the struggling publisher, PW has confirmed that Prebich is indeed out and a new CEO has been named in Robert Anthony. Anthony, who was most recently CFO and CEO at Backe Marketing, is, per a statement from the house this morning, going to "revitalize" Dorchester, which has been under fire for not paying some of its authors and changing its plans, after announcing it was moving to an all-digital list.
The company, which now has six staffers, says it will be doing titles in both e-book and trade paperback. Also, previously unavailable backlist titles from Dorchester will now be available online at www.dorchesterpub.com. The publisher also said that it plans on releasing its winter e-book list on November 23. Tim DeYoung, head of sales for Dorchester, said the company plans a full trade paperback program program in January when it will begin re-issuing some of its major authors in that format. Dorchester will release five to six reissued paperbacks in the January through April period and will begin publishing new titles in both trade paperback and e-book formats in May, doing between five and 10 titles per month. Dorchester will be using Ingram Publisher Services to distribute the trade paperbacks and Ingram's Core Source for digital distribution. Titles will be released under the Dorchester Trade Publishing name, although DeYoung said the company will keep the Leisure Arts and Love Spell imprints and may add to them in time.
[FONT="][FONT="]Dear Authors:
You may have gleaned this information from the previous emailed press
release regarding Dorchester's new CEO, but several exciting changes are
happening at the company. In addition to Mr. Robert Anthony's
appointment, the imminent revamping of our Web site and release of Winter 2010 titles,
our old printer and warehouse, Offset Paperback Manufacturers, has
agreed to once again distribute single-copy sales of our inventory.
What this means to you:
. Your fans will be able to buy your books. All of your mass-market
paperback books that were in stock before the August 7 shutdown are back
in
stock. If you have readers who are interested in purchasing your books,
direct them to either www.dorchesterpub.com or to the Telecenter at
(800) 481-9191. These books will be accounted for individually and appear on
your May royalty statement.
. You'll be able to set up book signings. Bookstores can once again
order your books, provided they are willing to do so on a non-returnable
basis. Because of the caveat, depending on the number of copies they are
willing to buy, they will be granted a scaling discount. They should call the
Telecenter to set up orders. These books will also show up on your May
royalty statement.
. You'll continue to be able to purchase any stock you desire. Special
offer author discounts continue to apply, on a sliding scale dependent on
volume.
Things you should know:
. If your rights have reverted, Dorchester is still able to sell these
books. A caveat of our reversion notice allows for sales of all
pre-existing stock. Be assured that we are not going back to press on any of these
books in order to sell them at a discount.
. There will be a slightly longer turnaround time on all orders. Allow a
day or two longer for shipments, as some changes have taken place at the
warehouse that will slow fulfillment.
All in all, though, this is great news. Dorchester looks forward to
providing your fans with your books for as long as we have stock and the
rights-and we wish you the very best of luck in the continuance of your
careers. We hope to be part of them.
Our other current project is generating up-to-date royalty statements
and developing a payment plan to see that everyone gets what they are owed
in as timely a manner possible. The staff is revitalized and working through
each and every problem as it pops up. Any questions, please let me know. I
will be out of the office all next week for the holiday, but will be checking
my email whenever possible.
Best wishes for a Happy Thanksgiving,
Christopher Keeslar
Senior Editor
Dorchester Publishing Co., Inc.
200 Madison Avenue, Suite 2000
New York, NY 10016
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