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With these new policies, the number of P2P platforms fell from 2,799 in August 2016 to 1,836 by the end of June 2018, according to data compiled by wdzj.com. The sector is still reforming and many P2P companies are failing, but the large-scale participants are flourishing. "With stricter regulations, there will be less of a "bad money drives out good money" effect in this sector," Cheung explained. He also stated they grew quicker during the low period and saw approximately 70% growth in 2016 and 90% growth in 2017. The new regulations will make the Chinese P2P sector more concentrated and eventually only the strongest companies can remain. This transition period is difficult for P2P companies but will make the sector healthier.
In China, there are over 70 million MSEs owners, whose credit needs are not adequately fulfilled, giving opportunities to companies like Youxin Financial. Yet, the biggest challenge is how to precisely locate suitable clients and accurately identify risks. While banks use internal rating systems to assess credit risks, fintech and P2P companies apply computer algorithms to review data and improve their loan approval process. "Customers with poor credit quality will be rejected in seconds, and customers with good credit will get approval in one hour," explained Cheung. He believes their comprehensive data capability is one of the major competitive advantages they have developed. Their data processing capacity helps them improve operational efficiency, reduce customer acquisition cost and enhance risk management.
With increasingly global digitalisation, data has become a major resource and commodity; but concern about data privacy is also at an all-time high following scandals such as the Facebook and Cambridge Analytica data leakage case. The EU General Data Protection Regulation (GDPR), came into effect on 25 May 2018, hoping to give consumers control of their personal data collected by companies. Currently, it affects organisations located within the EU and companies offering goods or services to customers in the bloc. It has a far-reaching impact and functions as an example of the global concern about data privacy.
With the tightened regulations on P2P platforms, the sector is experiencing its largest upheaval and a number of collapses. The Matthew effect, meaning the rich get richer and the poor get poorer, describes this industry as the top players will become bigger and stronger. "Specialisation and focus, strict compliance with regulations and data driven risk management ability help us obtain a foothold in this industry," summarised Cheung.


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text:
Con il nome di «Francesco» (o «Franz») completò l'Accademia militare nel 1797 e partecipò poi ad azioni sul campo, raggiungendo il grado di tenente dell'Esercito del Sacro Romano Impero. Nel 1800 il padre, temendo per la sua incolumità, ne rivelò l'identità e fece in modo di farla congedare.

È considerata la prima donna ufficiale, avendo preceduto i simili casi della belga Marie Schellinck, nominata sottotenente il 9 gennaio 1806, e della russa Nadežda Andreevna Durova, arruolatasi nel 1806.

Biografia

Origini
Francesca Antonia Scanagatta nacque a Milano il 1º agosto 1776, figlia di Giuseppe, intendente di finanza originario di Dongo, e di Isabella De Villata; in famiglia erano almeno sette figli, dato che si trovano citati anche Vincenzo, Giovanni Battista, Giovanni, Marianna, Rachele e Maria. Venne educata da una governante strasburghese che le insegnò le basi di tedesco e di francese. All'età di dieci anni fu posta nel collegio femminile milanese delle Dame della Visitazione, completando il corso di studi a sedici anni. La madre superiora, nel lodarne la condotta, definì il suo carattere «dolce, saggio e ragionevole».

Attorno al 1792 la famiglia si trasferì a Treviso; nel 1794 il padre stabilì di avviare uno dei figli (citato come Guido o Giacomo) alla carriera militare tramite l'Accademia di Wiener Neustadt; la figlia Francesca doveva invece spostarsi a Vienna presso una vedova che avrebbe completato la sua formazione, migliorando anche la sua conoscenza del tedesco. Fratello e sorella si misero in viaggio insieme; quest'ultima era vestita in abiti maschili «per minore imbarazzo durante il viaggio».

L'accademia militare

Durante il viaggio il fratello si ammalò e confessò alla sorella il proprio scarso interesse per la carriera militare.
Lei gli consigliò di tornare a casa con un domestico, facendosi consegnare la lettera di presentazione per Haller, chirurgo dello Stato Maggiore, che avrebbe dovuto ospitare il nuovo alunno. Vestita da uomo e presentandosi come «Franz», fu così accolta nella casa di Haller e le fu possibile iscriversi all'Accademia dal 1º luglio 1794. Il padre, saputo dello scambio, si presentò all'Accademia e cercò inutilmente di convincerla a tornare a casa; non conoscendo bene il tedesco, si rivolse ai professori in latino per avere informazioni sulla condotta della figlia usando il femminile, mentre i docenti usarono il maschile.

Potendo risiedere in una casa privata, Francesca riuscì a non farsi scoprire. Poté così perfezionare il tedesco e il francese, imparare l'inglese e la matematica e apprendere l'uso delle armi e gli esercizi bellici a piedi e a cavallo. Grazie all'impegno e ai progressi nello studio, ricevette il premio di distinzione nel 1795 e nel 1796.

Il 16 febbraio 1797 Francesco Scanagatta superò l'esame finale dell'Accademia, diventando alfiere.

Alfiere e tenente

Sempre nel febbraio 1797 richiese al Supremo consiglio di guerra a Vienna di poter servire come ufficiale; la domanda fu accolta per le necessità legate alle guerre rivoluzionarie francesi. Fu assegnata alla 6ª Compagnia del I Battaglione da campo del Reggimento di fanteria dei confini nazionali di Varadino-San Giorgio (K.K. National Grenz Infanterie Regiment Warasdiner-St. Georger), acquartierato nei dintorni di Kehl sul lato destro del Reno; quando le truppe francesi superarono il fiume tra Kilstett e Diersheim (Rheinau), il battaglione si ritirò a Mannheim. A ottobre il trattato di Campoformio pose fine alle ostilità e il battaglione fu più volte riposizionato, in Slesia e in Stiria.

Fu poi trasferita alla 4ª Compagnia del IV Battaglione del 56º Reggimento di fanteria Wenzel-Colloredo dislocato a Sandomierz, in Polonia; fu in questo periodo che vennero avanzate alcune insinuazioni sul fatto che avesse l'aspetto di una donna. Ricevuto l'ordine di presentarsi a Chełm, si ammalò mentre era di passaggio a Lublino, sede dello Stato maggiore, e rimase inferma tra febbraio e aprile 1799. Durante la malattia all'alfiere Scanagatta fu ordinato di raggiungere il Reggimento di fanteria Banato tedesco (K.K. Grenz Infanterie Regiment Deutsch-Banater) a Pančevo, dove giunse il 6 maggio. Era stata assegnata al battaglione di riserva ma, desiderando partecipare alla battaglia, chiese di essere trasferita in un'unità attiva; passò così al VI Battaglione, che combatteva nei dintorni di Genova, partecipando alle azioni del 14 e 15 dicembre 1799 contro la Repubblica Ligure.

L'alfiere Scanagatta rimase con un piccolo distaccamento a coprire la ritirata; il 25 dicembre le fu ordinato di raggiungere il battaglione a Compiano e a Bardi, territori del Ducato di Parma e Piacenza.

A febbraio 1800 il battaglione fu acquartierato a Livorno; in quel periodo, dovendo svolgere alcuni incarichi ufficiali a Venezia, Verona e Milano, Francesca ebbe modo di incontrare i genitori a Cremona; il padre cercò nuovamente di convincerla a lasciare l'esercito, mentre la madre si preoccupò per i lividi comparsi per via dell'abitudine di fasciarsi strettamente il seno, per evitare di farsi riconoscere come donna.

A marzo 1800 ottenne la promozione a tenente, che le spettava dal maggio 1799 ma che era stata rinviata a causa del suo trasferimento. Il padre nel frattempo si rivolse a Luigi Cocastelli, commissario imperiale a Milano, per risolvere con discrezione la situazione della figlia; Cocastelli a sua volta inviò una relazione a Michael von Melas, comandante generale dell'esercito, pregandolo di farla congedare.

Scanagatta aveva raggiunto nuovamente il proprio battaglione all'assedio di Genova e all'inizio di giugno, lo stesso giorno in cui la città si arrese, giunse l'ordine del generale Melas di lasciarla andare a Milano dai suoi genitori. Partì il 3 giugno insieme al proprio attendente; per evitare le linee nemiche, passò da Lucca e poi da Bologna. Qui, avvertita della possibilità di un nuovo ingresso delle truppe francesi nel milanese, decise di dirigersi a Verona, centro dello Stato maggiore dell'armata austriaca, per ottenere l'autorizzazione a spostarsi a Venezia, dove si era rifugiato il padre. A luglio 1800 il suo posto nel battaglione fu assegnato al fratello, che all'epoca era cadetto.

Solo dopo il trattato di Lunéville (9 febbraio 1801) poté rientrare a Milano con la famiglia sotto la Repubblica Cisalpina. Il 26 aprile le fu comunicato l'imminente congedo, confermato il 23 maggio successivo. Ricevette diversi attestati di stima da parte di commilitoni venuti a conoscenza del trucco da lei attuato. Scanagatta, in considerazione della difficile condizione familiare, inviò una supplica all'imperatore Francesco II per ottenere una pensione; il 10 dicembre 1801 le fu accordata una rendita vitalizia annua di 200 fiorini, valida anche risiedendo all'estero.

Il ritorno alla vita civile
Nel 1801 fu pubblicato un resoconto della vicenda in francese, che ebbe più edizioni. Probabilmente dettato da lei stessa, divenne la base delle successive biografie. Il testo fu tradotto anche in lingua inglese e pubblicato da alcune riviste. A Milano, per i primi tempi, l'ufficiale in congedo continuò a vestire l'uniforme che riteneva di aver meritato, prima di tornare a indossare abiti femminili.

Il 15 gennaio 1804 sposò Celestino Spini, di famiglia nobile di Talamona in Valtellina, che dal 1797 militò nelle truppe francesi e che nel 1804 era tenente dei cacciatori a cavallo. Il matrimonio tra due tenenti che avevano combattuto su fronti opposti destò una certa curiosità. Il marito proseguì la propria carriera raggiungendo il grado di maggiore; dopo la fine del Regno d'Italia entrò tra gli ulani dell'Imperiale e regio esercito e andò in pensione nel 1819.

La coppia ebbe sei figli, due dei quali morti alla nascita. Il figlio Giulio fece carriera nell'amministrazione austriaca e sposò Isabella Strozzi; ebbe numerosi discendenti. Il figlio Francesco divenne stimato sacerdote, elogiato da Ignazio Cantù. La figlia Rosina divenne suora di carità. La figlia Isabella sposò Luigi Maineri ed ebbe quattro figli; morì durante le Cinque giornate di Milano, «vittima del patrio ed umanitario amore».

Il marito morì nel dicembre 1831 e lei rimase inferma per due anni a causa della grave perdita. Nel 1832, oltre alla propria pensione da ufficiale, le fu riconosciuta anche quella come vedova di un maggiore dell'esercito.

Il mito dell'«Amazzone austriaca»
Nel 1843 la biografia del tenente Scanagatta fu inserita in una raccolta dedicata ai combattenti italiani nelle guerre napoleoniche. Dal 20 giugno 1852 fu celebrato solennemente il centenario dell'Accademia militare teresiana. Francesca, ormai ultrasettantenne, inviò un messaggio di auguri, rammaricandosi di non poter essere presente e firmandosi come «Franz Scanagatta [...], tenente, vedova del maggiore Spini».

La risposta conteneva, oltre ai ringraziamenti dell'Accademia, la richiesta di inviare i dati del suo servizio militare, affinché fossero conservati tra le memorie dell'istituzione; l'anno successivo all'interno della storia dell'Accademia fu inclusa una sua breve biografia, che ne sottolineava il comportamento eroico. Francesca Scanagatta morì a Milano il 20 novembre 1864 a 88 anni; la notizia, riportata da La Perseveranza, fu ripresa da vari quotidiani in Europa, rinnovando l'interesse per la sua storia, come nel caso del periodico militare austriaco Militär-Zeitung. Il mito dell'«Amazzone austriaca» (Oesterreichs Amazone) fu incluso in varie opere in lingua tedesca della seconda metà del XIX secolo.

Nel neonato Regno d'Italia la vicenda ebbe invece scarsa diffusione, in considerazione del suo impegno per l'allora nemico austriaco. Nel 1876, per il centesimo anniversario della nascita, il nipote Celestino Spini pubblicò a Milano una raccolta di informazioni e documenti. La sua figura fu riscoperta nel periodo tra la prima e la seconda guerra mondiale grazie ad alcune pubblicazioni. All'inizio del XXI secolo, con l'ammissione delle donne nell'Esercito Italiano, è stata celebrata come prima donna ufficiale.

Citazioni e riferimenti

Teatro e cinema
 Franz Lehár (1870-1948) compose un'operetta dal titolo Fräulein Leutnant (letteralmente "Signorina tenente") e una marcia a lei dedicata (Scanagatta-Marsch).
 Il film Fräulein Leutnant (1914), diretto da Carl Wilhelm, è una commedia legata al tema della sostituzione; una ragazza si traveste da soldato per prendere il posto del fratello durante una giornata di punizione, mentre lui si reca al proprio fidanzamento.
 Il lungometraggio I cadetti di Vienna (Liebeskommando, 1931), diretto da Géza von Bolváry, è ispirato alla storia di Francesca Scanagatta, ma ambientato nella seconda metà dell'Ottocento; la protagonista è Antonia, figlia del conte Giuseppe Scanagatti, mentre il fratello è chiamato «Franzesco».

Secondo alcune fonti anche l'operetta francese Les vingt-huit jours de Clairette (1892) di Victor Roger sarebbe influenzata dalla vicenda; la trama è incentrata su una donna che si introduce in una caserma come soldato per poter controllare il proprio marito. Dall'operetta fu ricavato il film Les vingt-huit jours de Clairette (1933), diretto da André Hugon.

Luoghi
 Via Francesca Scanagatta a Dongo, luogo di origine del padre.
 Francesca Scanagatta Straße a Wiener Neustadt.

Note

Bibliografia

Voci correlate
 Nadežda Andreevna Durova
 Eleonore Prochaska
 Viktoria Savs
 Marie Schellinck

Altri progetti

Collegamenti esterni

Donne guerriere
Militari austriaci

redpajama_set_name: RedPajamaWikipedia


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Home /Recent Post/Sati woman's sons, brothers sentenced to life
Sati woman's sons, brothers sentenced to life
JudiciaryApril 8, 2006
06 Apr 2006 # IANS, Madhya Pradesh,
Bhopal: That the barbaric practice of sati continues in pockets of deeply traditional India has once again been reinforced with a Madhya Pradesh court giving life imprisonment to the sons and brothers of a 62-year-old woman who died on her husband's pyre in August 2002.
The special court in Sagar Wednesday sentenced Kuttu Bai's two sons and two brothers for abetting her death on Aug 6, 2002, in Patna Tamoli village of Panna district. Thirteen others were acquitted.
Judge A.K. Mishra convicted Kuttu Bai's two sons, Ashok Kumar (45) and Raj Kumar (35), and her brothers, Jai Narayan (34) and Deep Narayan (33) — they prevented police personnel from rescuing the widow as she was being devoured by the flames.
According to the prosecution in the case, the victim's relatives assaulted the police personnel and prevented them from removing the woman from the pyre.
"The family of the deceased were aware of her intention of committing sati as she had already told them a few days before when she realised that her husband would soon die. The superstitious villagers were mute spectators and did not try to stop her," stated the National Commission for Women (NCW), which took suo motu cognisance of the episode and constituted a probe.
Instead of preventing Kuttu Bai's death, villagers gathered at the cremation ground with coconut, camphor and other offerings.
"The local public representatives also did not reach the site of incidence except for informing the concerned police station. Hence, they are accountable for such atrocities taking place in their area. Though the police reached the spot, but their numbers were not adequate," the NCW added in its report.
This was the third incident of its kind in the village and the inquiry committee observed a structure at the cremation site. It was constructed in memory of a sati that took place about five decades ago.
A police post was set up at Kuttu Bai's sati site to prevent its glorification.
Governments do try to take some token, punitive action. In this case, then chief minister Digvijay Singh's Congress government imposed an 'economic embargo' for two years on the village for not preventing the sati.
Sati, the traditional Hindu practice of a widow immolating herself on her husband's funeral pyre, was prevalent among certain sects of the society in ancient India. It was deemed a great honour for women to die on the funeral pyres of their husbands and they attained the status of 'sati mata'.
"It was believed that the woman who committed sati blessed her family for seven generations after her. Temples or other religious shrines were built to honour the sati," explained astrologer S.P. Shukla.
"Initially, the custom of sati was believed to be a voluntary Hindu act in which the woman decided to end her life with her husband after his death. But there were many incidences in which the women were forced to commit sati, sometimes even dragged against her wish to the lighted pyre," he added.
Sati was banned by the British in 1829 with Indian leader Raja Rammohun Roy among the first to eliminate the barbaric practice.
Clearly, it still continues despite the rapid strides made by Indian women in many other fields.
Sati matas are worshipped to this day in various temples around the country. The Ranisatiji temple in Rajasthan's Jhunjhunu is extolled as a testament to "feminine bravery" and is frequented by thousands of worshippers.
http://www.newkerala.com/news2.php?action=fullnews&id=38033

redpajama_set_name: RedPajamaCommonCrawl


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The Business Rusch: A Tale of Two Royalty Statements
Posted: August 15, 2012/Under: Business Rusch, free nonfiction, On Writing/By: Kristine Kathryn Rusch
basket accountingcontractsCory DoctorowDRMHachetteHarlequinHarlequin class action lawsuitindie publishingNolo PressPublishers Weeklyroyaltiesroyalty statementsThe Copyright HandbookTortraditional publishing
Today I had hoped to write a blog about something other than traditional publishing contracts, but events have conspired against me. Cory Doctorow published a column on Publishers Weekly's website about a new contract demand that might be coming from Hachette. Apparently, Hachette has decided to ensure that all of its e-books have some sort of DRM. That's an acronym for Digital Rights Management which is just a fancy way of saying that your document will have some encryption that will make it hard (but not impossible) to share the document with other devices and/or people.
Apple has used DRM forever, particularly in its iTunes store. Amazon uses DRM on its Kindle devices—that's why you can't read an e-book you bought on Amazon on your Nook.
Long ago and far away (like a year ago), most people in publishing believed that DRM would stop the pirating of books. That's before publishers realized that average readers liked sharing their books with friends and family, and DRM got in the way of that. Cory explains a lot of this, and while he's farther into the information-wants-to-be-free side of the equation than I am, he's got a lot of good points.
The thing I noted in this piece, however, is this:
The letter also contains language that will apparently be included in future Hachette imprint contracts, language that would require authors to "ensure that any of his or her licensees of rights in territories not licensed under this agreement" will use DRM. It's hard to say what's more shocking to me: the temerity of Hachette to attempt to dictate terms to its rivals on the use of anti-customer technology, or the evidence-free insistence that DRM has some nexus with improving the commercial fortunes of writers and their publishers. Let's just say that Hachette has balls the size of Mars if it thinks it can dictate what other publishers do with titles in territories where it has no rights.
Yeah. Cory's exactly right about this. And he's right about the balls the size of Mars. Check out my post from two weeks ago about the non-compete clause. Publishers have been dictating what other people do with their businesses for quite some time now.
Still, I e-mailed the link to a friend of mine who happens to be an intellectual property attorney who deals with the publishing industry a lot. The attorney's response? Not shock, not surprise, but this (and I'm paraphrasing here):
Given what I see in my dealings with the general counsels at various traditional publishing houses, I have to say that everyone in traditional publishing has gone insane.
Needless to say this clause—if indeed it exists—will be a new deal breaker. Often the same book has multiple contracts with multiple publishers. What Hachette, as your English-language publisher, wants you to tell your Russian-language publisher to publish the book in DRM. Do not sign anything that requires you to tell other publishers who publish your work in a different territory what to do. For that matter, do not sign anything that requires you to publish all your other work (not covered under this contract) with DRM attached. If I had signed a contract like that, for example, I would not be able to publish this blog on my website. I would need to have some sort of DRM on this blog to remain in compliance with this contract.
So…if a publisher demands this of you, do not sign that contract. Negotiate it away. If you can't, walk away.
This clause has a major impact on indie writers who publish their own work in their native language, then sell foreign rights to Hachette. If you sign the DRM clause as Cory outlines it, you must make sure your indie title is available only as DRM. Do you indie writers now understand why you must pay attention to these contract discussions?
And since I'm already talking about traditional publishing contracts, I'm going to talk about another side of the contract—royalty statements.
Your contract governs what's in your royalty statement. The percentages of the sales price that you get paid (royalties) for a hardcover book is in your statement, as well as the royalty rate for that same hardcover if it's sold at a standard discount, a deep discount, given away, or trashed. Much of your contract—even language that you might not understand—applies to how much, and how often you will be paid for each copy of the book sold.
In these days of free e-books, your contract should even have a definition of what "sold" is. Is a free e-copy given away a sale? Or is it a promotional copy? I'll wager most of you don't know the answer to that question on your traditionally published books.
Here's how your royalty statement should work. You should be able to calculate when you will start receiving royalties on your novel, based entirely on your contract.
Let me give an example.
Let's say that you licensed your book to a publisher. (If you don't understand why I say "licensed" instead of "sold," get a copy of The Copyright Handbook right now.) Assume this publisher gave you a $10,000 advance against royalties. An advance, by the way, is a fancy way of saying you got an interest-free loan from that publisher, and your royalties on this book will repay that loan.
Assume (for the sake of my math skills) that your contract provides you with a 10% royalty on the cover price of any book sold. Then assume that your publisher publishes that book in a $25.00 hardcover edition. Assume also that you will get royalty statements every six months as is customary.
So here's what should happen in that instance. You should get $2.50 for every book sold. After 4,000 copies of your novel, you should start earning royalties. What happens at 4,000 copies? Why your interest-free loan (or as you call it, your advance) gets paid off. ($2.50 x 4,000=$10,000.)
When I got my first publishing contract back in the Jurassic Period, I sat down and did the math on when that book would earn out its advance. I believed I would start seeing money over and above my advance within two years of publication.
Even though the book sold many more copies than I needed by those simple calculations to earn out its advance, I never received royalties on that book. The publisher did not cheat me. I signed a contract that gave the publisher too many loopholes. Discounted books received a smaller royalty. Books sold in certain chain bookstores got a smaller royalty than books sold in independent bookstores. And on and on and on.
I got nickel and dimed to death by the publisher, even though I had a very good contract for the time. All of those different payouts, by the way, were delineated in the contract. I just didn't understand them.
These sorts of delineations and the interpretation of them are behind the class action lawsuit that writers have brought against Harlequin this summer. The writers claim that Harlequin is playing a shell game so that it can pay a lower royalty rate on certain types of books.
Harlequin isn't alone in trying to charge a lower rate under the contract than the rate the writer assumes applies. Harlequin is simply being more blatant about it, and going about it in a way that is easy to catch.
When large companies try to pay lower rates to their suppliers, it has an impact on the supplier (of course), but it usually saves the company millions of dollars (spread out over all suppliers). It is in the company's best interest to pay as little as possible for the goods it receives. It is in the supplier's best interest to get paid as much as possible for the goods provided.
Most writers do what I did back in the Jurassic Age. They shrug, and figure that the industry is too complicated for them, the contract too arcane. They simply go on as if nothing happened.
Me, I started my quest to understand contracts right then. And I learned that big names get better terms on everything—including discounted books—than I (as a midlist writer) ever could. If, of course, the big name writer knew how to negotiation a contract. Which, I have learned over the years, is a very big if.
I still play that payout game when I sign a traditional publishing contract. Several years ago, I signed with two companies that were new to me. I signed with them both in the same year and their contracts were similar.
In fact, one had a contract that I would call iffy. It had some terms in it that I really didn't like. However, that contract—let's call it Contract A—defined those terms very narrowly.
I did the math. I figured that if everything went as promised by the editor and by the contract, I would be earning royalties on the books in that contract in 24 to 36 months. I mentioned this to Dean, then we both laughed. We knew the likelihood of my earning any royalties on those books was between slim and none.
Contract A covered three books. Contract B, from the other company, only covered one book. The terms of Contract B seemed a lot better than Contract A, right down to this lovely promise: all payments were due within thirty days of fulfillment of each contract term.
By putting that in the contract, a payment that was overdue by one day breached the contract. In other words, if I didn't get paid, the contract got canceled.
If you had asked me on that day which contract was better, I would have said Contract B. It was for one book, it licensed fewer rights, and it had clauses that benefitted me like that payment clause.
Over the years, I sold two more books to the company that issued Contract B. Those were Contracts C and D. Those contracts were identical to Contract B. They were fine.
I sold other books to the same company that issued Contract A. Those contracts got progressively better as the company revamped its contracts and as I became more savvy about what to ask for in this new world of publishing.
Problems showed up with the company that issued Contract B almost from day one. The signing payment on my advance was late, so late in fact that I told them that I would not turn in the book until I received the payment. If they couldn't pay me quickly (within two weeks, as I recall), then they breached the contract and I would be free to sell my already-completed book elsewhere.
They begged me to reconsider, asked me to wait until the end of the quarter (a month away), and when I refused, angrily cut me a check. This process got repeated with each check owed. I must be honest, however. Because of that clause and my willingness to enforce it, that company paid faster than any other publishing company I had worked with.
The issues got stranger as the royalty statements became due. I didn't understand the first royalty statement issued for Contract B. Information seemed to be missing, and a lot of stuff just seemed off.
The first royalty statement for Contract C never arrived. When my agent requested it, he was told that the book had only been out for a month and the company never issued royalty statements that early(!) Even though the contract required it. Even though I had received the first royalty statement for Contract B that early. By then, I had already turned in the book for Contract D and that book was in production. I had turned down a fourth project with the company because they were so awful to deal with on the business side.
The editor, by the way, was wonderful.
When the next royalty period arrived, I had a real surprise. My books—contracted separately—were basket-accounted.
For those of you who are unfamiliar with basket accounting, this is what it means:
A writer signs a contract with Publisher Z for three books. The contract is a three-book contract. One contract, three books. Got that?
Okay, a contract with a basket-accounting clause allows the publisher to put all three books in the same accounting "basket" as if the books are one entity. So let's say that book one does poorly, book two does better, and book three blows out of the water.
If book three earns royalties, those royalties go toward paying off the advances on books one and two.
Advance for book one: $10,000
Advance for book two: $10,000
Advance for book three: $10,000
Book one only earned back $5,000 toward its advance. Book two only earned $6,000 toward its advance.
Book three earned $12,000—paying off its advance, with a $2,000 profit.
In a standard contract without basket accounting, the writer would have received the $2,000 as a royalty payment.
But with basket accounting, the writer receives nothing. That accounting looks like this:
Advance on contract 1: $30,000
Earnings on contract 1: $23,000
Amount still owed before the advance earns out: $7,000
Instead of getting $2,000, the writer looks at the contract and realizes she still has $7,000 before earning out.
Without basket accounting, she would have to earn $5,000 to earn out Book 1, and $4,000 to earn out Book 2, but Book 3 would be paying her cold hard cash.
But here's the thing: You can't have basket accounting without a basket. The contract must provide for this strange accounting method, and not one of those three contracts did. Even if Contract D had a clause for basket-accounting with Contracts B & C, those contracts would have had to be amended for that clause to work. I did not sign any amendments, nor did Contract D provide for it.
My agent and I complained about this. We were told that the books are not basket accounted, but that the publisher's system just showed up that way on the royalty statement. That way, the publisher could keep track of what it owed each writer. It was an internal thing, nothing more, and wouldn't have an impact on payouts to me. And, to make things even more interesting, we got a check for e-book royalties with that letter.
Weird, since none of the books had earned back their advance (interest-free loan) yet, and all e-book royalties should go against that advance according to the contract.
I'll be honest. I really, really, really want to get away from this company. So we sent the check back to them telling them that there are a lot of errors in their royalty statements and we needed accurate royalty statements. If we did not receive accurate statements within six months (which was the next royalty statement), we would consider this a breach of contract. (The contract calls for accurate royalty statements.) The letter went to the publisher, not to the accounting department or to the editor, but to the person at the top.
Who wrote back and said that these were just accounting quirks and we need to live with them. We got a legal statement signed from the publisher, saying that this is how their accounting system works, that the books were not basket-accounted, and we would continue to receive e-book royalties separate from print royalties.
Can I fight all of this and get the contracts canceled? Yeah, but it would take attorneys. Will I do it? No, because there are other contract clauses I will use in a few years to break these contracts in a much easier (and much more painless) fashion.
If I didn't have those other clauses in the contract, I would be fighting to get out of this contract right now. Because this company is not trustworthy and, I suspect, is having serious financial problems. I've suspected that for years now.
Honestly, this company has the messiest, stupidest royalty and accounting system I have ever seen (which is saying something). This company, while not part of the erroneously named Big Six, is a large company with a name you would recognize. They've been around for more than 15 years.
So has the company that issued Contract A. (See? I haven't forgotten it.) At the same time I was dealing with the royalty statements for Contracts B, C, and D, I received a royalty statement for Contract A.
Along with a nice check for royalties earned.
I about fell over backwards. Remember I told you that if that particular company followed its contract to the letter, I'd receive my first check 24 to 36 months after publication? Well, the check arrived 18 months after publication. One royalty period sooner than expected.
Why was my calculation off? Because the first book in that contract sold better and faster than I had expected.
Everything—and I do mean everything—in that royalty statement is easy to understand. Even better, the sales figures match or exceed the sales I receive from other books written under that name. The statement is accurate, clear, concise, and goes point by point with the terms of Contract A.
This is the very first time in more than twenty years of publishing novels that any company has ever followed its contract to the letter in regards to its royalty statements. No obfuscation, no dicey interpretation of contract clauses, no surprises at all.
The very first time.
And that's how contracts and royalty statements should work. They should be parts of a whole, so that both parties—publisher and writer—know exactly where the project stands at any given time.
Since we've been discussing deal breakers and ideal contracts, let me add one more thing. As small business owners, we writers need to make sure that our contracts call for accurate royalty statements issued in a timely manner.
Then we should demand that all of our royalty statement experiences be like mine with Contract A. We should consider an inaccurate or poorly done or impossible-to-understand royalty statement a violation of our contracts. We should also be willing to defend our rights: if we get a bad royalty statement—impossible to understand, hard to see if it follows the terms of our contract—we should ask for a clear statement. If we don't get one, then we should find out why.
We need to fight for this as hard as we fight for good contract terms. Because the contract terms mean nothing if we don't make sure that they're executed properly.
Remember, we writers have choices now. We can indie-publish our work and make quite a bit of money. If we choose to go with a traditional publisher, then we have to make sure that the traditional publishing deal is worth our while.
The contract clauses I've discussed for the past month are part of that. But so are the royalty statements themselves. The days of shrugging when a confusing royalty statement arrives are over. We have to demand clear statements, clear accounting, and clear terms.
If we don't, we're as much to blame for any loss of income as the publisher itself is. As small business owners, we need to monitor and enforce our contracts. Making sure our payments are both accurate and on time is part of that.
It's time for traditional publishing to make large changes, and I'm not talking about the kind of changes that some publishers (like Hachette) seem to want. Those publishers want writers to give up any semblance of autonomy. We writers need to recognize that we have more autonomy than ever. If we give that up, then we only have ourselves to blame.
So demand accurate and understandable royalty statements. If you're not willing to do that, then you probably want to stay away from traditional publishing. Because if you don't ask for clear royalty statements, you will lose money. You just won't know where or when.
It's amazing to me how rapidly traditional publishing contracts are changing. I think my lawyer friend is right: traditional publishers have gone crazy—but only because they're scared. They know they're playing by old rules and they don't know how to play by new rules. So they default to the old way of doing things by trying to dictate unreasonable terms to the authors.
I'm moving off this topic for a while. I can guarantee, however, that I'll be doing more about it in the future.
You all have been great in supporting this short series. In the past, donations have dropped off as I've done these kinds of posts, but this time the drop-off has been less severe. Thank you for that. And thank you for the links, comments, emails and forwards. I appreciate that as well.
So, as usual, if you've gotten anything out of this week's blog or any of the business blogs, please leave a tip on the way out. Thanks!
"The Business Rusch: "A Tale of Two Royalty Statements," copyright © 2012 by Kristine Kathryn Rusch.
41 responses to "The Business Rusch: A Tale of Two Royalty Statements"
Sheila Guthrie says:
Another eye-opening post, Kris. Thanks for such good explanations about these contracts, I hope new and old writers are reading and taking this information in.
As I learn more about traditional publishing I'm becoming less inclined to seek out that route and more inclined to stay indie. The only benefit there seems to be in traditional contracts is the advance, no matter how small it may be, but rights grabs like you've written about in this and other posts take away any bright spot that may have been.
When I first starting reading about how to become published–back when I was in high school, aka in the Jurassic age 😉 –I would have signed bad contracts without a thought, because I didn't know there was any other way. Now, with the Internet and so much more information available, it would be foolish for anyone to just sign their rights away like this.
Keep up the good work. You and Dean are my go-to people for writing information and advice.
Kristine Kathryn Rusch says:
Thank you, Sheila. 🙂
Don McGowan (@LegalMinimum) says:
The comment above from C.E. Petit is very appropriate, particularly the part noting that none of the GCs have antitrust experience. I'm a GC in my day job and do have some, but I don't work at a publishing company. Most GCs of public companies are securities lawyers or deal folks, and it shows.
Anywho… why I'm here is to comment on what you call the basket clause. If you're looking through your own contracts, look for something called cross-collateralization, which is the technical term for this kind of thing. It's what lawyers do when they want to protect their company from a situation where one book is a runaway hit but the other ones are duds: they can avoid paying royalties on the hit until the duds are paid off. Great for the company, crap for the author, like you've noted.
And you've (accidentally) noted the best way not to get screwed with one of these which is to publish your books with different companies each time, but there's possibly others. Another thought is maybe to create a separate bank account for each book you write and specify payments for each book into a each account. Even more protection: put each book into an LLC and sign the publishing contract between the publisher and the LLC. That way you'll have a quick and easy breach of contract: failure to pay the money into the right bank account or to the right LLC. After all, companies are people ever since Citizens United, so they can't cross-collateralize between different people…
Wonderful post, Don. Should I see it as a conspiracy that it got caught in my spam? I hope others see this and understand how important your points are. Thanks.
It's not only publishing contracts you need to read and think about. I have a day job, in a field that normally does not have trade secrets. However, the powers that be developed operations manual and determined that the manual and associated resources (including additional resources, such as form letters, that might be created by any of us) are intellectual property of the company that needs to be protected by a non-disclosure agreement. Signing the agreement, we were told, is now a condition of employment. OK, I figured–a team of people spent more than a year creating this body of work and it is hoped it will make the company more profitable; I can see why they feel it is important to require employees to protect this intellectual property.
Then I saw the agreement itself, which had words to the effect that … all creations, inventions, works of authorship … created by the employee during the term of employment … are works of hire and the property of employer…
What? Wait!
All acts of authorship starting from the the first moment of the first day I was hired (months before the agreement was presented to me) to the end of the last day I'm employed here are… Um–no. You see the problem.
Happily, my employers were aware I am a published writer of speculative fiction before they hired me, and speculative fiction is not a part of their product. It made the conversation wherein I said I needed protection for my own intellectual property less awkward.
This experience underscores the importance of reading contracts and imagining how they could affect things that are–or should be–unconnected to the subject matter at hand.
Thanks, Kristine–I'm sure reading your column helped me make the immediate mental leap from how these words applied in my day job to how they might be applied to my creative work.
I'm glad to help. It's tough out there. I know a lot of writers who signed such things with their day jobs and are now regretting it. Many have asked for addendums to their employment contracts, exempting the fictional work. I also know of a few companies that said no to such addendums. Do be careful, folks, before you sign anything. Thanks for the comment.
Rayne Hall (@RayneHall) says:
Years ago (in the dinosaur days) I wrote several books to a publisher. To contract terms were not particularly generous, but clear and fair. Royalties would be paid once a year on 1 March for the preceding year.
After several years of writing for this publisher and receiving annual checks on 1 March, I received a notification. It was a standard letter sent to all their authors, informing us "We're changing our payment schedule. From now on, we'll be paying royalties on 1 December."
Just like that. It was against the contractual agreement. Having to wait a year for each royalty check was bad enough (but fair, since that's what we'd agreed to in our contracts) but now we had to wait a further seven months.
The publisher did not ask us to agree to an amended contract: he simply informed us. What a cheek!
I was annoyed, but didn't complain. At the time, I was stressed with other things, the amounts in question were too small to argue over, and I reckoned it wasn't worth the fight. Now I'm ashamed I didn't at least write a pointed letter.
I believe we authors are far too soft when it comes to contractual matters. All the authors of that particular publishers were like me, sighing about the unfairness, but not doing anything about it.
With indie publishing, the situation is so different.
I don't have to wait a year to learn how many books I've sold (Amazon gives me an update several times daily, and even the sluggish Barnes&Noble is seldom more than a few weeks behind). I don't have to wait for my royalties for a year, let alone 19 months, but get them within a few weeks of the books' sale.
Sometimes I'm annoyed at how long Barnes&Noble delays paying authors, and at Amazon for delaying payments to international authors (there's some gross discrimination against non-US nationals going on at Amazon, and the small print of the Amazon payment agreements are shocking in their discrimination, but that's a different subject).
But when I get enraged about these delays and unfairnesses, I recall the bad old days of dinosaur publishing, and compared with what we authors put up with then, Amazon's discrimination and B&N's delays seem such small matters.
Rayne Hall
Dan Meadows says:
Wow. When I first read the Hatchette thing a couple days ago, I read it as referring to the same book, as in I license hatchette in one territory, other publishers of that book in other territories would be compelled to use DRM. It didn't even occur to me that the scope was wider than that, but when I went back and re read their wording, you're absolutely right, that could be read as anything else you publish anywhere. If I've taken anything away from your writings (and I've gotten a lot from them) its the absolute necessity of having a good IP attorney if I'm ever dealing with these issues. I'm probably as guilty as the next person of reading things as they seem to make the most sense. But so much of contract language these days is written to imply one thing but actually be much broader in scope. I've got to wonder why that kind of deception doesn't constitute some form of actionable fraud, because at the very least, it seems like dealing in bad faith. Thanks so much for your insights and keep up the good work!
Right now, publishers are taking advantage of everything. So if there's a bad way to interpret a clause, a publisher will. The best thing to do is make sure the clause isn't there. As for fraud, it's different from bad faith. Most publishing contracts probably fall under bad faith, but they generally aren't fraud. But then, I'm not a lawyer, so I'm not an expert on this stuff.
David Alastair Hayden says:
Apple dropped DRM from iTunes in 2009. Though it was there six years before that. Thought you should know 🙂
Thanks, David.
TheSFReader says:
That was for music. DRM is strong and kicking for ebooks (and lasted quite longer than the other competing DRM systems), and propably video.
Tom Simon says:
Fortunately, individual publishers (and authors) can choose to make their books available on iTunes without DRM, and many do.
Yes, but the point of the blog is that if you sign any clause in a traditional contract that limits DRM, you may no longer be able to put up any of your works without DRM.
That's quite true. I was only pointing out that in such cases, it is the publisher and its contract, not Apple, that is to blame.
Good point, Tom. And yeah, that's often (usually) true these days.
C.E. Petit says:
As I mentioned offhandedly a couple of days ago, the problem that Our Gracious Hostess mentions at the top (Hachette and its insistence on certain clauses in contracts relating to what other publishers do/might do) is precisely why the DoJ is suing Apple and five publishers — including Hachette — for breaking the law by doing so in the Wormyfruit antitrust case on e-book pricing.
Herewith, a short detour into antitrust law (which is the intellectual flip side of intellectual property law). Those of us with vast life experience — just call me "elderly" — might remember the bad old days of the 1970s with copy machines, when there was an absolute contractual requirement that if you leased a machine from Xerox, you bought your paper and supplies from Xerox and got all your service from Xerox. (And it was an industry standard; if you were an IBM shop, or a Kodak shop, it worked the same way.) There were effective patents and reputational "protection" covering the machines themselves; however, there weren't any for the paper, or the toner (usually two-part in those days), or many of the parts… or the knowledge to service the machines. The agreements in question are called "tying arrangements." Sometimes they're lawful; sometimes they're not.*
The kind of tying arrangement complained of by the DoJ against Apple and the other publishers is a directly unlawful tying arrangement: The MFN clause.** One of the kinds of tying arrangements described by Our Gracious Hostess (the "noncompetition clause") is ordinarily a directly unlawful tying arrangement. And then things begin to get murky as the layer of coin between the intellectual property issues and the antitrust issues disappears… and people start arguing as if the other side of the coin doesn't exist, even though its image is clearly visible in the law of the side of the coin they're arguing from, let alone whose interests on that side of the coin.
It shouldn't surprise anyone that there is not one general counsel among the top dozen or so US publishing houses who has any substantial experience with antitrust law, let alone litigating antitrust law matters. It's a collective blind spot that influences their approach to everything… and being in New York doesn't help matters, as the Second Circuit has a minority view on most antitrust law these days anyway, which in turn influences the advice the publishers get from outside counsel.
* If you own an inkjet printer, you've run into this problem with the shrieking claims that using off-brand ink cartridges will void your warranty and cause the collapse of civilization as we know it.
** There are some nuanced ways to make an MFN clause lawful. The way Apple et al did it isn't even close.
Thanks, C.E. A clarification for some of you: MFN clause is the Most Favored Nation clause. I'm not going to try to explain that. I'll leave it to others. But do read C.E.'s post on all of this. (And jeez, I'm old enough to remember that about copiers as well. What a blast from the past.)
William Ockham says:
One minor correction.
Amazon uses DRM on its Kindle devices—that's why you can't read an e-book you bought on Amazon on your Nook.
This isn't quite correct. Amazon leaves it up to the publisher to decide whether or not to use DRM. The reason you can't read a Kindle book on a Nook is that the two systems use different formats. The Nook (and almost every other ebook vendor) uses the epub format, but Amazon uses a semi-proprietary format called .mobi. Even though both formats are just crippled versions of HTML, epub is delivered as an OPC file (which is just a zip file)and .mobi files are actually delivered in the old Palm database format.
Thanks, William. You're not the only one to mention this. All I can say is ooooops.
Randall Wood says:
Now that's a post with good information, thank you.
I have a somewhat radical question, but I'll throw it out here anyway;
Why do we sign their contract?
If an author has gone to the lengths of forming his own publishing company, what's to stop him/her from writing up a contract for them to sign? It would save a lot of time and red ink.
It might be worth it just to see the expression on their faces.
I guess we call you Harlan Ellison now, Randall. That's what Harlan has done as long as I've known him. I thought it odd twenty-five years ago. Now I think it smart. The publisher has a starting point, the writer has a starting point–let the negotiations begin!
He is the only writer I know who has done that. It would be interesting, imho, if others tried it. I do wonder how legal in publishing houses would react. (And you can't do this if you have an agent. The agent would have kittens.)
Nicole Burton says:
I would be interested in seeing a good writer's contract.
J.M. says:
I had a disturbing thought. In contract negotiations, have you ever demanded the removal of a deal-breaker clause only to have the publisher say, "Okay, we'll let that one go but you need to give up something else" (accept a smaller advance, etc.)? I'm wondering if such things are a tactic: if the author accepts it, wonderful, if not then we can get a better deal elsewhere in the contract.
Or is that giving the publisher too much credit?
That happens all the time, J.M. It's how negotiation works. One side trades this for that. Or not. I'm only talking about deal breakers in this series. That's where both sides dig in and say, "My way or the highway." In the past, writers caved. I'm saying that too much is at stake for any writer to cave now. I hope that helps.
Vera Soroka says:
Wow, that's unbelievable. I was thinking of sending my YA to Tor but I don't know, I think I will wait and see. I am self publishing my romance line so maybe when I have my feet wet I will self pub the YA. This other stuff is just too mind boggling and confusing to understand.
The biggest problem, imho, Vera, is that it changes almost weekly. So advice I gave last year is out of date, and the month-long series I started at the end of June has an addition because of more craziness. So yeah. Waiting a while is probably a good idea.
Youch ! I hadn't really seen how that part "ensure that any of his or her licensees of rights in territories not licensed under this agreement" could be so far reaching ! Now that you've pointed it out, I see it clearly.
If it impacted only the same book in the same language, it would already be over-reaching.
If it impacted only the same book, whichever language it's translated to, it would already be WAY over the board.
But no, it would be "any licensee of right […]", meaning as you show, anything distributed worldwide…
Talk about carpet bombing your professional writing future !
I love that phrase, SFReader. "Carpet bombing your professional writing future." Yep. Sign that and the non-compete, and you won't be able to write at all.
David Lang says:
minor quibble about DRM.
for a while now Amazon has made DRM be at the option of the person publishing the work. Many books have DRM turned on, some do not.
Even without DRM, the kindle and nook use different document formats, there is free software to convert between formats, but it is a bit of a hassle to do so ( http://calibre-ebook.com/ ).
Many (most?) books from Big Publishers HAVE DRMs.
But you're right, when the DRM is not there (either because it hadn't one, or it was removed), Calibre makes quite good translations.
One can also note that the DRM removal tools can be integrated into Calibre for transparent/automatic use.
Thanks, David. I haven't really kept up on DRM because I think it's stupid to limit your customer base. So…yeah. Ooops. I appreciate the clarification.
I honestly wonder how long it will be before publishers will become anything resembling sane enough for us to be able to do business with them. I'm exclusively indie, but I would love to ride both sides of the fence. Unfortunately, it doesn't seem like that's going to happen any time soon given that big publishers A) Don't seem to want to offer much in terms of exposure to new authors, B) have these ridiculous clauses in their contracts, not to mention crazy royalty rates that are just insulting, and C) seem to be too busy scrambling around to be bothered with doing things right with their authors.
Maybe in five years…..
Yeah, I know, Ramon. I truly don't see much of a reason for new writers to go to a traditional publisher, unless that publisher is willing to negotiate with them. I think it'll take most of this decade to shake out. Then we'll be in a new normal.
Aleksandr Voinov says:
Hi Kristine – thanks so much for the blog post. I always point my less battle-scarred writer friends to you. (I've signed a load of crap contracts and basically became savvy through pain; I signed "forever" contracts and "total buyouts" that people later said were "unethical/unenforceable", and I've signed ROFR clauses that killed series.) So, yeah, after some pretty dire experiences with a Big Six in Germany, I'm an indie and happy.
However, I can absolutely see a reason to sign up with trad publishing, but really only one. That's marketing and reach and actually getting books into book stores. So they could have one every couple years (ideally a book I don't care that much about and which I'd treat as a "sacrificial lamb") while I go with author-centric and author-friendly indie publishers for stuff like control, bigger royalties and better treatment. I'd definitely hire a very sharp IP lawyer, though.
Aleksandr, I don't know the German market very well, but I do know that in the US, you can have the exact same reach in marketing and bookstores as traditional publishers. Dean deals with that in his "Think LIke a Publisher" series. With Amazon's Createspace now in Germany, I suspect you might have the same opportunities there. Just saying. And indie, happy. Yeah. It seems to go hand in hand. 🙂
L. M. May says:
One silver lining (that Kris has pointed out in the past) is that if you like to write short stories, there are traditional magazine markets that you can submit to that have reasonable terms, and each month the number of good markets is growing.
So it is possible to easily ride both sides of the fence right now, if short stories are in the mix.
Joe Vasicek says:
I've got to be honest, Kris. All these posts about contract deal-breakers have only cemented in my mind that in my own writing career, I absolutely do not want to deal with a traditional publisher at all if I can avoid it. As an indie, if I don't make it big, they probably won't want anything to do with me, and if I do make it big, I probably won't want anything to do with them. At the point where the non-writing stuff starts to cut too much into the writing time, I'll be making enough to hire an assistant. Before then, it's much less stressful (and actually kind of fun) to do everything myself.
Yes, I understand that everyone has to deal with contracts, even us indies. But the Terms of Service for KDP, Smashwords, Pubit!, Kobo Writing Life, and all other ebook venders are so much simpler–not to mention easier to get out of! I shudder to think about what it would mean to have my rights tied up, with no way to get out except to threaten bringing the publisher to court.
If I can make a living on my writing without having to license, transfer, sell, give up, or otherwise jeopardize any of my copyright, why would I ever want to switch to a business model where I did? It's just not worth the headache. The only circumstances where I might want to deal with this would be sales to foreign publishers or movie options, which would only be nice additional income streams–not my main source of income.
Why so many traditional publishers are clamping down on their contract terms, I have absolutely no idea. They've done nothing but shoot themselves in the foot when it comes to digital, and time is not on their side. I just hope that someone takes these guys to court soon and strikes down all these ridiculous mars-balls clauses. Actually, I take that back–since I won't be signing any of them, I could really care less.
In any case, thanks for doing these contract-breaker posts! They have been very insightful, especially since this isn't the kind of writerly advice we beginners usually hear. If I'm ever approached by a trad publisher (since I certainly won't be seeking any of them out myself), I'll definitely keep it in mind. Thanks!
You're very welcome, Joe. I'm glad you're getting something from the posts.
Remember that KDP and a lot of the terms of service can change at any time, and if you agreed up front, you agreed to abide by the future changes. What that means is it's up to you to monitor the site, and if the terms of service change to something you don't like, then you must opt out at that moment.
And on the order from Hachette: It's coming through the UK. Which, to me, is a foreign publisher. So if you're an American author who indie-publishes your work only in the US, then you sign a UK deal, you might be faced with this very clause. And it would prevent you from publishing your US work on Smashwords, for example. This is pernicious and has an impact on all of us.
RD Meyer says:
I think the key line in here is that writers now have a choice. Indie published titles used to be sneered at, and traditional publishers haven't caught up to the present time.
It's going to take a sea change in the industry which allows it to swallow its pride and re-look its business model if it wants to survive.
Thanks, Russ. There are a million reasons why publishers haven't caught up, but the main thing is that they haven't. There's a great article on Forbes's website about publishing. It also points out that not only are traditional publishers blind about indie publishing, but so are big name writers, and that's the opposite of the music industry. The big artists support the alternative methods of the indie artists. You can find the article here.


A black beaded purse. Created by the Daily Knitter staff.
Thread beads on to 1 of 2 balls of yarn. Cast on 42 stitches working with 2 strands of yarn held together. (Purse will be worked with doubled yarn throughout) Join to work in the round, being careful not to twist stitches. Place marker on needle to indicate beginning of round.
Round 14: P1, K1, repeat around placing 21 beads into each of the K stitches.
Round 21: K1, P1, repeat around placing 21 beads into each of the K stitches.
Cast on 19 stitches with yarn doubled. Turn (do not work in the round).
Repeat row 1 6 times.
Using the size J crochet hook, work 1 row of single crochet to connect the bottom to the body of the purse.
Felt the purse using your preferred method. (Purse pictured is lightly felted to retain look of stitches.) Before letting the purse dry, pull out the beads from the matted fabric to the right side of the purse. Once dry, attach the handles.


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Yankees Fan Ejected by Umpire for Tipping Rays' Pitches to Gary Sanchez
Mike Chiari@mikechiariTwitter LogoFeatured ColumnistSeptember 27, 2017
Jim McIsaac/Getty Images
During the eighth inning of the New York Yankees' 6-1 win over the Tampa Bay Rays on Tuesday night at Yankee Stadium, a fan was ejected for tipping pitches while Yanks catcher Gary Sanchez was at the plate.
According to NJ.com's Randy Miller, Rays catcher Wilson Ramos noticed the infraction, resulting in home-plate umpire Dan Bellino telling ballpark personnel to remove the fan from the stands.
Ramos said after the game that he heard someone yelling, "Away, away, away," in Spanish during Sanchez's at-bat.
Sanchez acknowledged hearing it and noted that he attempted to ignore it: "You could definitely hear the guy scream, 'Outside, outside!' But you don't know if it's going to be a slider or a fastball and you've got to stick to your plan. I think that's the first time something like that happened to me ... but you can't let stuff like that distract you because it can become a distraction."
Yankees manager Joe Girardi also commented on the incident and felt the right steps were taken, saying, "That shouldn't have happened and they were removed from the park."
The Yankees were involved in another controversy earlier in the season when it was determined that the Boston Red Sox illegally used an Apple Watch in an attempt to steal signs from the Bronx Bombers.
Boston was later fined for the infraction.
With Tuesday's win, New York improved to 88-69 on the season and cut its deficit in the American League East standings to three games behind the leading Red Sox.
The Yanks have already clinched a wild-card berth with five games remaining in the regular season, but they are still in the mix to win the division and avoid the dangerous AL Wild Card Game.
Mets, Lindor Agree on $22.3M Deal
NYM, Francisco Lindor agree to fourth-largest arbitration settlement in league history for $22.3M (MLB Network)
Phillies Offer Realmuto $100M
Philadelphia offers free agent All-Star catcher 5-year, $100M deal (The Athletic)


Please select options for Bullitt Anthracite Wheel & Sumitomo Tire Kit - 17x8 (94-04 All) at the top of this page.
Application. This 17x8 Anthracite Bullitt Wheel and Sumitomo Tire Kit fits all 1994 to 2004 Mustangs, including the V6, GT, Bullitt, Mach 1 and SVT Cobra models.
What do these wheels weigh each?
This wheel weighs approximately 23 lbs.
what is the center bore size and what is the weight.
The center bore size on the Bullitt Anthracite Wheel - 17x8 (94-04 All) is 2.5" and the weight of the item is 23.8lbs.
Can I stagger this with a 17x10.5 wheel?
Yes, the 17x8 can be staggered with a 17x10.5 wheel.
These wheels do not accept the Ford center caps as the clips on the back are a different design.
Offset and hub bore diameter?
The 17x8" Bullitt Wheel utilizes a +30mm offset and 70.3mm center bore.
Unfortunately these wheels are not currently offered in a 19 inch.
The Anthracite Bullitt Wheels are going to be very close to the stock wheel color, but they are not going to be a precise match. Many customers have told us that they couldn't tell a difference while others have been able to see the slight variation.
A 235/45R17 tire would work best with a 17x8" Bullitt Anthracite Wheel.
The Bullitt Anthracite Wheel & Sumitomo Tire Kit will come mount and balanced as long as you chose that option when ordering.
Typically the Bullitt Anthracite Wheel in 17x8 will fit, however we recommend measuring, as depending on the spindles used (94-95 vs 96+) offset/backspace requirements will change. Tire size will also be a factor in this. This Bullitt Anthracite Wheel will have 5.72" backspace and +30mm Offset.
There will be no clearance issues when changing from stock tires to the Bullitt Anthracite Wheel & Sumitomo Tire Kit - 17x8 (94-04). The only thing you may need is a new speedometer calibration!
The passenger tire guide I have from the internet shows the 255/40R17 should be mounted on a 8.5 to 10 inch wheel rim. So the 8" is too narrow for correct fit especially at cornering high speed.
the cap have a set of clips that attach to the inner wheel hub, BUT the OEM center cap have shorter clips so they did not work for me. my OEM wheels were 2001 Bullitt for reference.
The Anthracite Bullitt Wheels are going to be fairly close to the stock wheel color, but they aren't going to match exactly. Some customers have told us that they couldn't tell a difference while others have been able to see the slight variation. If you wanted to purchase just one to test, you could always get it shipped unmounted and compare it to your stock wheels. If you then decide they're too different for your taste, you can contact us for a return. Hope this helps!
Great wheels for the price. Great finish and super easy to clean due to the simple 5 spoke design.
Great looking wheels, can't wait to get them mounted!
The wheels came much sooner than I expected but fortunately I had them shipped to the shop where my GT was being painted.
Very good rims and looks good on the car. Now just have to get the other three when I have the spare money to do so.
Love them def make a huge difference in look and the ride is much better then stock !
I will start off by saying the fit perfect. The wheels came damaged. They had fine scratches around the lip and one had a chunk taken from the lip. The second thing that upsets me the most is that the picture for the wheels is completely in-accurate. In the picture the wheels look dark grey. In person they are almost like a very light blue. Called AM and since they were already installed they wouldn't help me in any way. Unhappy with my purchase from AM this time.
I'm very happy with these wheels - made a huge improvement to the appearance of my 2001 vert in True Blue. Be aware that the wheels are not a shiny gray as implied by the name "anthracite". They are a light bluish silver gray, which is fine for me since my car is blue. May not be great on a red or yellow car. Look at the customer pictures for accurate color view. A good value and dazzling look.
not a solid 5 because the picture is different from the actual thing but a 4 because it is the wheel i was trying to match.
paint color and match very poor, so this is how you do your reviews ?
I didn't like the factory look of my 2001 convertible , these Bullitt wheels male it look like a Mustang.
I purchased two of these wheels with tires for the front of my 1996 Cobra to replace the two 17 x 9 bullitt wheels that came in the staggered wheel set I bought a few years ago. The 17 x 9 wheels would always rub the sway bar when I would turn sharp, The 17 x 8 wheels took care of that problem. The construction and finish on these wheels are very nice, the only issue I have is just about every wheel I've purchased from American Muscle has some light damage around the valve stem that may be caused by the tool they use to install the valve stem. Other then that it's a very nice wheel at a great price.
The wheel looks awesome , I bought only 1 because I had 3 oem bullitt wheels , although they don't match it still looks great.
Excellent wheels, but they do not mention that the factory center caps WILL NOT WORK ON THESE WHEELS. Result is you have to either leave the American Muscle center caps on or try to find a way to attach the factory caps. I have not been able to find a way to attach the factory caps to the American Muscle wheels.
The only reason I gave these heels 4 stars on quality is because they arrived with a small discoloration on the edge of the lip of the wheel. It is mostly covered by the tire, but it was still there. (QA) Other than that, they are perfect, they set off my 95 GT and make it look great.
These wheels are great my V6 now looks like a real sports car! Perfect fit no problems at all.


text:
Pioneer Natural Resources Company (PXD) Holdings Cut by American International Group Inc
Cleararc Capital Inc increased Pioneer Nat Res Co Com (PXD) stake by 244.78% reported in 2017Q2 SEC filing. Vanguard Group Incorporated holds 12.12M shares. The firm has "Strong Buy" rating by Raymond James given on Tuesday, December 1. The company was maintained on Thursday, June 15 by RBC Capital Markets.
Insider Activity of Omega Healthcare Investors Inc. (OHI)
The company reported its EPS on 9/29/2017. Legg Mason Asset Management (Japan) Limited invested in 14,500 shares or 0.39% of the stock. Looking at volatility levels, the stock observed volatility of 1.70% in last week and saw volatility 2.23% over the past one month.
Parkwood LLC Lowered Gilead Sciences INC (GILD) Holding by $7.51 Million
Gilead Sciences In now has $96.96 billion valuation. The stock increased 7.28% or $2.592 during the last trading session, reaching $38.222. Public Employees Retirement System of OH now owns 900,211 shares of the biopharmaceutical company's stock valued at $72,935,000 after acquiring an additional 4,563 shares in the last quarter.
Fed's Quarles says digital currencies pose financial stability risks
Bitcoin's price crossed $11,000 Wednesday before retreating Thursday for a drop that exceeded 5 percent at one point. While acknowledging the importance of innovation, when it comes to payment systems, Quarles noted during a speech in D.C.
Kennedy Sells 2021 Shares of Varian Medical Systems, Inc
The firm has "Sell" rating by Evercore given on Thursday, January 26. (NYSE:GS) on Tuesday, November 29 to "Outperform" rating. On Tuesday, November 29 the stock rating was downgraded by KeyBanc Capital Markets to "Underweight". The company has market cap of $1.56 billion. It operates through two divisions, Oncology Systems and Imaging Components. It has a 36.57 P/E ratio. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field ...
Applebee's offering $1 Long Island iced teas in December
You may remember Applebee's rolling out dollar margaritas back in October. The "Dollar L.I.T." is a blend of vodka , rum , gin, tequila , triple sec, sweet and sour mix and cola. The chain's "Dollar L.I.T." promotion starts, December 1 and will run throughout the month at all participating Applebee's locations . The deal is only at participating restaurants, though.
Senators Lee and Rubio Push for Even More Powerful Child Tax Credit
According to a joint statement from Rubio and Lee, the amendment pays for the tax credit expansion by slightly raising the corporate tax rate from 20 percent to 22 percent in the Senate's version of the tax bill . The Senate is expected to begin voting on the tax bill later Wednesday with the hope of passing it by Friday. "We would not support raising the corporate rate as outlined in that amendment", said White House spokesman Raj Shah.
Commonwealth Equity Services Inc Invests $659000 in Citizens Financial Group Inc (CFG)
Schroder Investment Grp holds 0.1% or 1.61 million shares. On a consensus basis, analysts have given a recommendation of 2.40 on company shares. About 2.92M shares traded. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock's last price was higher from the average trading price of 50 days recorded at $1.05 while enlarging the period to 200 trading days, the average price was $0.77.
Oracle Corporation (ORCL) Shares Sold by Aberdeen Asset Management PLC UK
Oracle Corporation ( ORCL ) maintained activity of 14.91 million shares that trade hands on average basis while its relative volume is 0.96. Steven Madden, Ltd. has a 12 month low of $37.62 and a 12 month high of $46.99. The company now has a consensus rating of "Buy" and an average price target of $54.85. Oracle had 97 analyst reports since July 30, 2015 according to SRatingsIntel.
Trexquant Investment LP Purchases Shares of 8271 Molson Coors Brewing Company
The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The Passport Capital Llc holds 157,731 shares with $13.66M value, down from 193,291 last quarter. As per Wednesday, August 23, the company rating was maintained by Pivotal Research. On Thursday, September 28 the stock rating was maintained by Robert W.
Watch List: Chesapeake Energy Corp (CHK)
Finally, BlackRock Fund Advisors raised its position in shares of Chesapeake Energy by 5.1% in the third quarter. The company's outstanding shares are 920.28 Million. now owns 791,989 shares of the oil and gas exploration company's stock worth $3,405,000 after buying an additional 134,861 shares during the last quarter.
Atika Capital Management LLC Increases Holding in Align Technology INC (ALGN)
Equities research analysts anticipate that Align Technology will post $3.24 EPS for the current fiscal year. Buckingham Asset Management LLC grew its position in shares of Align Technology by 43.1% in the third quarter. Autus Asset Management LLC's holdings in Align Technology were worth $3,494,000 at the end of the most recent reporting period. (NASDAQ:ALGN) for 18,743 shares.
Tracking Shares of Western Gas Eqty Partners LP (WGP) — Market Focus
Other equities research analysts also recently issued reports about the company. Scotiabank set a $51.00 price target on Western Gas Equity Partners and gave the company a buy rating in a research report on Wednesday, August 16th. The ex-dividend date was Wednesday, November 1st. Value investors may be searching for stocks with lower price to earnings ratios that possess higher dividend yields.
PNC Financial Services Group (PNC) Earning Favorable Media Coverage, Analysis Finds
Regeneron Pharmaceuticals now has $38.41 billion valuation. The 52-Week High range of the stock is $140.07, while the 52-week low range is $110.12. About 644,192 shares traded. (NASDAQ:REGN) earned "Outperform" rating by Wells Fargo on Friday, December 4. (NYSE:PNC) on Monday, October 17 to "Buy" rating. The company was maintained on Wednesday, June 14 by RBC Capital Markets.
Investors Catching Stocks Applied Materials, Inc. (AMAT)
These shares are worth $290,000 and were traded at $58 each. (NASDAQ:AMAT) news were published by: Seekingalpha.com which released: "The Applied Materials Super-Cycle Is In Full Swing" on November 22, 2017, also Seekingalpha.com with their article: "Applied Materials: There's Still Time To Get On Board The Growth Train" published on November 26, 2017, Cnbc.com published: "Applied Materials CEO: "The future of competition" is changing across ..." on November 17, 2017.
After Making Yearly Low, Is Barrick Gold Corporation (ABX)'s Near-Term Analysis Negative?
A beta of 1.0 indicates that the stock's price will move in lock-step with the market. NAVI's overall volume in the last trading session was 5,452,059 shares. It operates through three divisions: Rental, Extension, and Sales. Investors sentiment increased to 1.27 in 2017 Q2. Investors often need to do their own research in order to obtain as much knowledge as possible before diving in to the markets.
Could Motorola Solutions New (NYSE:MSI) Change Direction After Less Shorts?
Motorola Solutions Inc has a twelve month low of $76.92 and a twelve month high of $94.96. Conning owns 0.02% invested in Motorola Solutions Inc (NYSE: MSI ) for 5,311 shares. The company was downgraded on Monday, October 24 by Bank of America. The firm has "Buy" rating by Piper Jaffray given on Wednesday, November 1. The stock of Omnicom Group Inc.
AMC Entertainment Holdings, Inc. (AMC) stock RSI made a progress toward 71.27
The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 28.739 and a beta of 1.53. Investors seem to be very interested in what happens to the stocks of these two companies but do investors favor one over the other? The shares recently went down by -4.64% or -$0.75 and now trades at $15.40.
Trump nominates Fed critic to board
Trump earlier this month tapped Fed board member Jerome Powell to serve as the Fed's next chairman, after deciding not to offer a second term to Janet Yellen. With the nomination of Goodfriend, Trump will have nominated three people to positions on the Fed board. There are two more vacancies for Trump to fill now.
Nando's launching Mzansi Christmas Burger
The Mzansi Christmas Burger isn't what you might expect from a Christmas meal, but I bet a lot of people would enjoy it. The new burger mixes festive flavours and African heat. Nando's has also launched a limited edition six-pack of its PERi-PERi (its weird spelling not ours) sauces with all profits going towards fighting malaria in Mozambique.
FedEx Corporation (FDX)'s Trend Up, Especially After Today's 52-Week High Milestone
About 827,109 shares traded. The Connecticut-based Paloma Prns has invested 0.02% in FedEx Corporation (NYSE: FDX ). It has outperformed by 2.32% the S&P500. The correct version of this piece of content can be viewed at https://weekherald.com/2017/11/30/harel-insurance-investments-financial-services-ltd-has-304000-position-in-fedex-co-fdx.html.
Las Vegas Sands Corp. (LVS) Position Trimmed by Oppenheimer & Co. Inc
VONTOBEL ASSET MANAGEMENT INC also announced increased position in Las Vegas Sands Corp . This recommendation falls on a scale from 1 to 5 where a 1 or 2 indicates a Buy recommendation, 3 a Hold and 4-5 a Sell. This publicly-traded company's Revenue/Share ratio is 15.78, compared to 18 for the industry overall. Checchi Cap Advisers Limited Company stated it has 3,829 shares or 0.03% of all its holdings.
ValuEngine Downgrades Keryx Biopharmaceuticals (NASDAQ:KERX) to Strong Sell
KERX has been the topic of several other reports. BidaskClub upgraded shares of Keryx Biopharmaceuticals from a "sell" rating to a "hold" rating in a research note on Wednesday, August 16th. The company beat the analyst EPS Estimate with the difference of $-0.07. During the same quarter a year ago, the company earned ($0.39) EPS. The firm's revenue was up 138.1% compared to the same quarter last year.
Plancorp LLC Stake in Boeing Co (BA) Has Decreased by $5.16 Million
Conning Inc decreased Unilever N V (UN) stake by 12.6% reported in 2017Q2 SEC filing. Over the last three months, insiders sold 63,403 shares of company stock worth $11,666,138. Outfitter Limited reported 4,052 shares. Ntv Asset Mngmt Ltd Liability Corporation holds 0.09% or 1,556 shares in its portfolio. Lvm Ltd Mi reported 3.15% of its portfolio in The Boeing Company (NYSE:BA).
Research Report for Investors: Netflix, Inc. (NASDAQ:NFLX)
The standard deviation is used in making an investment decision to measure the amount of historical volatility, or risk, linked with an investment relative to its annual rate of return. (NASDAQ: NFLX ). Caxton Assocs Lp holds 0% in Netflix, Inc . Vetr upgraded shares of Netflix (NASDAQ: NFLX ) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.


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The original and classic The Collected Poems of Dylan Thomas is available once again, now with a brilliant new preface by Paul Muldoon.
The Collected Poems of Dylan Thomas contains poems that Thomas personally decided best represented his work. A year before its publication Thomas died from swelling of the brain triggered by excessive drinking. (A piece of New Directions history: it was our founder James Laughlin who identified Thomas' body at the morgue of St. Vincent's Hospital.)
Since its initial publication in 1953, this book has become the definitive edition of the poet's work. Thomas wrote "Prologue" addressed to "my readers, the strangers" — an introduction in verse that was the last poem he would ever write. Also included are classics such as "And Death Shall Have No Dominion," "Do Not Go Gentle into that Good Night," and "Fern Hill" that have influenced generations of artists from Bob Dylan (who changed his last name from Zimmerman in honor of the poet), to John Lennon (The Beatles included Thomas' portrait on the cover of Sgt. Pepper's Lonely Hearts Club Band); this collection even appears in the film adaptation of Cormac McCarthy's The Road when it is retrieved from the rubble of a bookshelf.
Decrease quantity for Collected Poems
Increase quantity for Collected Poems