Deleted this post because the authors at Silver are up in arms over me speaking out. They feel they've been stabbed in the back over me taking this public. They're convinced if we stay quiet everyone will be paid.
Time will tell, won't it?
I'm not betting on them seeing their money post or no post.
I think we're talking about authors who are relying on their royalties to pay their bills. If you were faced with losing income that you needed for the important things in life like mortgages, rent, food, bills, you'd probably do all you could to find a solution, wouldn't you?
there was no 'shouting down'.
I do not think that defending people who aren't here, is morally reprehensible. I do think that inventing an evil cabal of 'five authors' is questionable.
Whether someone wants to speak out and remain silent is their own call. What I have a problem with is the attacks that those who have spoken out say they have received from those who have not.I take great objection to Eden's snide reference to 'cars, houses and kid's vacation plans'. That was not needed. I agree that it's gone past trying to keep a lid on the mess and there have been rumours for ages, but when what amounts to someone's annual income is on the line, can you blame people for hoping that things work out before speaking out?
The original monies are probably long gone. To be blunt in a Bernie Madoff way, the only hope for the first tier authors is to boost sales of existing work and bring in fresh authors. This explains the recent publicity push for Silver authors. But even with both revenue streams, I don't see how they can make up for at least a quarter of a million dollars.
I'm no mathematician, but it doesn't make sense to me how Silver Publishing will think they will *ever* "catch up" on royalties.
If the money is gone whether through mismanagement or theft, it's gone. Period. There's no "getting it back".
But, again, I'm just a writer. So how does the math work for those Silver authors still thinking they're going to eventually get what's owed them?
What's the math???
Hell if I know what the math is. I'm getting 10% of only 3rd quarter royalties until those royalties are paid off. My 3rd qtr started at $3300. I've received $610 in two months. I'm owed money dating back to February of 2012. At this rate it'll be a year before he pays me all of one quarter.