OLD Media Moves

Fortune editor to write Greenspan book

June 6, 2006

Peter Petre, a senior editor at large at Fortune magazine and co-author of best sellers by Gen. H. Norman Schwarzkopf and by Thomas J. Watson Jr., former chairman of I.B.M., will help recently retired Federal Reserve chairman Alan Greenspan write his memoirs, according to an article in the Tuesday New York Times.

Peter PetreGreenspan had been interviewing candidates since selling his book to Penguin Press for an $8.5 million advance, according to reporter Motoko Rich.

Rich wrote, “Mr. Petre, who joined Fortune as a writer in 1979, now oversees coverage of information technology, biotechnology, medicine and science. He is on leave and did not return calls for comment.

Ann Godoff, the president and publisher of Penguin Press, an imprint of Penguin Group USA, said that Mr. Greenspan would be writing the first and last drafts. “Peter will be the expert helper on those and what comes in between them,” she said.

“Settling on a candidate to help translate Mr. Greenspan, known for his cryptic testimony, into plain English has not been easy. This spring, David Wessel, the deputy Washington bureau chief for The Wall Street Journal who helped Mr. Greenspan with his 10-page book proposal and was a candidate to collaborate on the book, withdrew from discussions because they could not agree on terms.”

Read more here.

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