It pays to be bitter, if you choose the right target, and Greg Smith certainly did with Goldman Sachs. The former executive settled on a $1.5 million advance with publisher Grand Central, reports the New York Post's Keith Kelly. That's three years' worth of his Goldman salary, and 10,000 times what he got paid to write his scorching New York Times op-ed. Not a bad flip. And to think we were skeptical when Kelly reported rumors of a $1 million advance on Wednesday.
Grand Central seems to be in a deal-making mood. Smith's book is Grand Central's second big contract this week, after the publisher picked up Charlie Kaufman's novel on Thursday.