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But if you are buying long, you aren't interested in what a year or two or even five+ will net you.
Let's hope they don't try to unilaterally change every PA author's contract to reflect the minimum payment clause.
Oh I know. My original point was that by keeping royalties and investing them long term, you are talking hundreds of thousands of extra dollars gained.We aren't talking about individuals investing here; we're talking about a company that's retaining clients' funds until they aggregate to a certain amount. That is...the money doesn't belong to the company and could (theoretically) need to be sent to its owner at any time. You can't invest that sort of money long. Any company that invested its clients' money into the stock market would be foolish, and I doubt that even PA would make a mistake like that and risk making a loss.
As a matter of fact, I think (though don't know for sure) that if the company retaining the funds invests them into an interest-bearing account, they must render the earned interest to the owner, too, when the funds are finally paid out. So PA would have no (ahem) interest in putting the funds into any sort of account that would tie the money up, risk loss, or anthing else other than hoping never to have to pay it to its owner.
Not necessarily. Plenty of corporations do illegal things because some guy figured out that even with penalties, its cheaper to break the law. Case and point, big companies dumping waste because the max fine per offense is far, far less than clean up costs.PA owns an attorney, full-time, to do their dirty deeds.
Whatever they are, I suppose they're legal, sorry to say.
And to the Legal Eagle I say: get a life.
Bingo.Not necessarily. Plenty of corporations do illegal things because some guy figured out that even with penalties, its cheaper to break the law. Case and point, big companies dumping waste because the max fine per offense is far, far less than clean up costs.
Let them try it. If they withheld royalties without a contractual provision that allows them to do so, it would constitute breach of contract. That would presumably allow me to get out of the deal, assuming I could scrape together the money for a trip to Frederick for the arbitration. But I dream....
I think Dave meant that clause might be in all future contracts... they could be heading in that direction.
guess we couldnt do a class action suit against them? Didnt that 900 number come in effect over the summer, hummmmmmmm says alot doesn't it a 800 number is free why couldnt they have chosen one of them.
As for a class action suit, the damages to PA authors isn't enough (even though it may seem that way to the authors) for an attorney to be interested. Most class action suits are filed for millions of dollars, so that many people benefit, including the attorney. IANAL but that would be my understanding of class action suits.
Dear Author:
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--In the Ordering Instructions Box, let us know who you want us to dedicate the books to (e.g. "Merry Christmas, Joe", or "Dedicated to [first name] [last name]", or "For my Daughter"), max. ten words.
Sorry, fullcolor books are excluded. US orders only; for Canada orders call 301 695 1707 during EST business days, hours. To guarantee timely delivery before the holiday season: offer valid through the weekend, expires Sunday Oct. 18.
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PublishAmerica Author Support
Is it conceivable for those people to come up with any more preposterous gimmicks? I mean, really . ..Got another fabulous email from PA's Author Support.
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