There has been an update on the Greg Smith book deal.That is a great deal of money for this book. I think in today's explosive media circus culture this book (and probably an eventual movie) will make some money.
It really makes you question his motives though. Did he blast GS in the NYT because of how he felt, or because he knew he'd be setting himself up for a book deal and life as a TV guest commentator?
I have not decided whether I would be interested in reading it.
It is going to pay off big time for former Goldman Sachs exec Greg Smith to write about his stint in the belly of the Wall Street beast.
Smith scored a mind-boggling $1.5 million advance to chronicle his life and times at the investment bank.
Smith exited this month with a scathing resignation that was published as an Op-Ed piece in the New York Times.
Soon after, publishers began vying for a book from the South African native, who rose through the ranks in Goldman's London office.
By Monday, with the price tag flirting with the $1 million mark, it was down to two bidders, Penguin and Hachette Book Group.
Hachette's Grand Central Publishing finally nailed the deal with a $1.5 million advance yesterday.