DORCHESTER PUBLISHING CLOSES ITS DOORS

Why am I just reading about this?  Only because I just Googled Dorchester Publishing to see if there was anything new about the royalty payments owed to their authors (like me), and instead, this is what I find. Shouldn’t I–as a Dorchester author– been informed of what was happening?  I feel like someone just took the wind right out of my sails!

Dorchester Publishing Closes Its Doors

9 March 2012

Publishers Weekly has a news item announcing that Dorchester Publishing has closed its doors and most, if not all, of its magazine and book titles will be sold in foreclosure.

Agent Kristin Nelson reports:

Last year when my lawyer and I sat in on the phone calls where Dorchester disclosed their financially precarious position, the list of creditors was part of that conversation. There are at least 6 companies that might find it worthwhile to force Dorchester into Bankruptcy to recover monies owed.

And I hope they do.

Link to the rest at Pub Rants and a link Kristin provides to a notice of a foreclosure sale.

Passive Guy doesn’t have any inside knowledge of this matter or of publishing contracts for the Dorchester Books being sold.

However, as a general proposition, if an author has signed a publishing agreement with a publisher, the publisher is free to pledge its interest in that agreement and the underlying book(s) as security for its debts.

If the publisher then fails to pay those debts, the lender/secured party can seize that publishing agreement and sell it to the highest bidder, whoever that may be. The author effectively has no control over who his/her publisher may be at that point.

While the purchaser of the contract has an obligation to honor its terms, it’s not difficult to imagine that some purchasers might be more inclined to honor contract terms and others might be more inclined to collect sales revenues without appropriate royalty payments.

When we talk about publishers failing, this is part of the story of what happens.

TWILIGHT IN THE COUGAR DEN

I would like to thank everyone who responded to my request for stories for my book project, Twilight in the Cougar Den. I received some amazing stories and am heartbroken that I will not be able to use them. Unfortunately, I did not receive enough stories to make up an entire book as I had hoped I would (not even enough for a really, really short book). I did not have any responses at all from the men I contacted, and I was hoping to be able to have an entire section in the book about how men have been affected by Twilight, whether it be by the women in their lives who are obsessed or otherwise.

My goal was to self-publish this book and promote it during Stephenie Meyer Day 2012. I felt it needed to be published before the final movie was out next November. But, time is running out and I’m not receiving any more submissions at all. As much as I hate to abandon this project, I feel I have no other choice at this time. If anything changes I will be in contact with everyone who has sent me a story.

For those who did take the time to share their story with me, I apologize for wasting your time and I hope you will understand. Your stories will not be shared with anyone else…ever!! Once again…thank you from the bottom of my heart for supporting this project!Image