Ted Kennedy given big advance for memoirs

June 12, 2009 at 7:57 PM
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WASHINGTON, June 12 (UPI) -- A publisher paid U.S. Sen. Ted Kennedy, D-Mass., an advance of almost $2 million for his memoirs, his financial disclosure reports indicate.

The reports also show Kennedy's net worth dropped sharply in the past year with the steep decline in the stock market, Politico reported Friday.

His reported income included $1.995 million from Grand Central Publishing, a division of Hachette Book Group (USA). The autobiographical work does not yet have a title.

Kennedy also reported a gift from Jamie Wyeth, the artist son of painter Andrew Wyeth. Jamie Wyeth gave the senator one of his father's works after Andrew Wyeth's death last year.

On his disclosure form, Kennedy said the Senate Ethics Committee signed off on the painting.

Kennedy, who has been in the Senate since 1962, was diagnosed last year with an inoperable brain tumor.

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