-Caveat Lector- First lady to receive $8 million for White House memoir http://www.nj.com/newsflash/index.ssf?/cgi-free/getstory_ssf.cgi?a0786_BC_Hi llaryClinton-Memoir&&news&newsflash-washington By SHANNON McCAFFREY The Associated Press 12/15/00 9:51 PM WASHINGTON (AP) -- New York Sen.-elect Hillary Rodham Clinton agreed Friday to accept $8 million from publisher Simon & Schuster for a memoir dealing with her eight tumultuous years in the White House. The huge advance is more than any member of Congress has received for a book and comes close to matching the $8.5 million Pope John Paul II got in 1994 for a nonfiction work. The first lady's advance beats the $7.1 million received this summer by General Electric Chairman Jack Welch. "This personal perspective on our recent history promises to be one of the most remarkable books of our time," said Carolyn Reidy, president of the publishing house's trade division. Simon & Schuster has published Mrs. Clinton's other three books. The memoir will be published in early 2003. A White House official also confirmed the deal late Friday. The first lady will earn $141,000 a year as a senator. She and President Clinton leave the White House with an estimated $10 million in legal bills and a $1.7 million mortgage on their home in Chappaqua, N.Y. Also, the first lady wants to purchase a home in Washington, D.C., where she will spend time while in the Senate. The Clinton book set off a fierce bidding war this week in publishing circles. Just what Mrs. Clinton will say, however, is a matter of speculation. She has indicated she would write about her husband's impeachment and his affair with White House intern Monica Lewinsky. How candid she is on such personal topics will probably determine how big a seller the book is, publishing industry analysts said. Reports of a big advance being negotiated for the first lady's book already had some watchdog groups complaining that it raised ethical questions. They likened the advance to the $4.5 million book deal signed by former Rep. Newt Gingrich, R-Ga., in 1994 when he was the incoming House speaker. Controversy over the Gingrich deal prompted the House to change its ethics rules and ban members from accepting book advances, though they may receive sales royalties. In the Senate, book advances are not included among restrictions on outside income as long as the arrangement is "usual and customary." Although Mrs. Clinton has not yet been sworn in as a senator, aides say she is complying with all Senate rules. The first lady has also indicated she intends to donate a portion of the money to charity. The Clinton camp has maintained that the book contract was reached after a competitive auction involving eight publishers who trekked to Washington to hear a pitch by the first lady in the White House. "The book's value is being determined by the market," Clinton spokesman campaign spokesman Howard Wolfson said Thursday. Simon & Schuster has published Clintons other three books: "It Takes a Village," which outlined her views on children's and family issues, "Dear Buddy Dear Socks" a collection of letters written to the first pets and most recently "An Invitation to the White House" a tribute to 1600 Pennsylvania Ave. Simon & Schuster is owned by Viacom, which owns the CBS television network. They have interests in Washington. Among them is fighting a federal regulation that prohibits one company from owning stations that reach more than 35 percent of U.S. households. Among the other bidders for the memoir were Talk Miramax and Penguin Books. Gingrich's arrangement with Rupert Murdoch's HarperCollins came under scrutiny when it was revealed that the deal was signed after Gingrich met with Murdoch and a top lobbyist for his Fox television network. At the time, the Federal Communications Commission was looking at whether Fox was foreign-owned, in violation of its rules. Facing bipartisan criticism, Gingrich eventually retreated from the deal and settled for a token $1 advance in addition to royalties. Other senators have written books, but they usually generate little money or broad appeal. The man Clinton is replacing, Sen. Daniel Patrick Moynihan, has written 18 scholarly books. In his most recent financial disclosure form, Moynihan reported earning $944.68 in royalties. Vice President Al Gore was paid $8,500 last year for a new foreword for his book, "Earth in the Balance," which he wrote as a senator, and $850 for reprints for an introduction to "Silent Spring," Rachel Carson's classic environmental book warning of the dangers of pesticides. <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! 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