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December 29, 2005
A magazine for you, sir?
That "Publisher's Cleary-Dealy Thingie" is back, this time with a $10M prize. The fine print? The $10M is paid over 30 years at $333,333/yr. What's that worth today? $3,142,305 at a 10% rate. And if you figure this after tax, the prize is worth $2,042,498. This is still a lot to be sneezed at, but the $10M prize is really only worth $2M. A few years ago, dozens of states' Attorneys General cracked down on PCH, but it still seems like a crooked way to sell magazines.
Posted by adrianjo at December 29, 2005 06:49 PM