In I Coulda Been A Pretender at Slate, John Barlow talks about his experience working with 17th Street Productions (now owned by Alloy). Things didn't work out for him quite so well as they did for Kaavya Viswanathan.
Oh. Wait. Maybe in the long run they turned out better.
Barlow's Slate article is doubly interesting for us, here, because he writes for adults but was approached to write a kids' book.