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  1959 Life contract?

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Author Topic:   1959 Life contract?
KC Stoever
Member

Posts: 1009
From: Denver, CO USA
Registered: Oct 2002

posted 02-04-2007 03:14 PM     Click Here to See the Profile for KC Stoever   Click Here to Email KC Stoever     Edit/Delete Message   Reply w/Quote
I fear I introduced some bum figures in Rene Carpenter's otherwise nice new essay on the LIFE contract:
http://www.scottcarpenter.com/rene_life.html

It was added to the scottcarpenter.com website today.

If it was a million-dollar publishing contract, that means maybe $700,000 after taxes for the group--and amount that was then divided among the seven, paid out over a five year period. Right? I have dropped some zeroes, I guess.

Does anyone know what $1,000,000 (1960 USD) would be today? A comparison might be useful. Thanks for any help--and my apologies for the bad math :-}

Kris

413 is in
Member

Posts: 397
From: Alexandria, VA USA
Registered: May 2006

posted 02-04-2007 03:53 PM     Click Here to See the Profile for 413 is in   Click Here to Email 413 is in     Edit/Delete Message   Reply w/Quote
Hi Kris -

$1,000,000 in 1960 dollars would have the same buying power as about $6.8 million in 2006 dollars (the last full year for which inflation data is available).

You can find an inflation calculator on the U.S. Dept. of Labor's web site: http://www.bls.gov/cpi/

------------------
b i l l

[Edited by 413 is in (February 04, 2007).]

KC Stoever
Member

Posts: 1009
From: Denver, CO USA
Registered: Oct 2002

posted 02-05-2007 12:26 PM     Click Here to See the Profile for KC Stoever   Click Here to Email KC Stoever     Edit/Delete Message   Reply w/Quote
Bill,

That's a great DOL link. Thank you. I'll do some figuring and retyping and have a nice new Rene essay up in no time.

Kris

All times are CT (US)

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