As Lisa is reporting, Condi just signed herself a $2.5 million deal for three books on her life and her tenure as Bush’s foreign policy flunky. She will write one book on her time in the Bush Administration, a memoir of her life, and a kids version of the memoir.
That’s great news for Condi, as others in the Bush Administration are having less success getting book deals. Consider Alberto Gonzales, who doesn’t yet have a publisher for his book, which purportedly sets the record straight on his role in the crimes of the Bush Administration. Laura Bush got a book deal–at a quarter of the price that Hillary got for her First Lady story. Karl Rove, who smartly got an early start on the bidding, had to settle for $1.5 million for his book deal; experts had thought he’d get $3 million. And Bush himself has been advised to wait, as the market for anything he has to say looks like the rest of the economy: non-existent and getting worse.
But the market for books is not all bad. Just by way of perspective, consider David Plouffe’s book deal for the story of managing Obama’s historic campaign. Plouffe got $1.5 to $2 million for his advance.
So in case you were wondering, the market now values Plouffe’s role in Obama’s two-year campaign to have the same value as Karl Rove’s entire life work, Laura Bush’s tenure as First Lady, (for the moment at least) George Bush’s two term Administration, and two out of Condi’s three-volume life.
I think the market’s invisible hand just slapped the Bush Administration upside their head.