Eric Rayman is a familiar figure around publishing, having served as counsel at Simon & Schuster for many years, then in a like capacity at the New Yorker, where he regularly arranged book deals for anthologies drawn from the magazine. He now runs a successful start-up magazine called Budget Living and last week conducted a heated auction for two books its staff has put together. They both concentrate on the magazine's mantra "spend smart, live rich" and include a room-by-room decorating guide, edited by Sarah Gray Miller and the magazine's editors, and a book called Party Central, offering economical party notions. Eight interested publishers were eventually reduced to four, and the winners were senior editor John Duff and editor Michelle Howry at Penguin.
Volume 250 Issue 26 06/30/2003