I missed this announcement when it came around the first time, but it's _so_ the wrong system that I decided to post on it 2 weeks after the fact.
Here's what they announced:
OverDrive has created LibraryBIN (Buy It Now), an online digital bookstore offering a comprehensive selection of eBooks for instant purchase and download. Participating OverDrive partner public libraries link to LibraryBIN from their OverDrive-hosted websites. LibraryBIN reaches a well-established user base: the millions of visitors to download library websites.
Basically Overdrive opened their own ebookstore and are selling ebooks to the general public. This is what happens when you make a purchase:
The proceeds of each sale, after deducting the payment to the publisher for the wholesale cost of the title plus a hosting and fulfillment fee, are donated to the participating library that you specify. These earnings can be used to purchase eBooks, audiobooks and other media for the library’s download website.
Let's be generous and say that a library gets 30% of each sale. That's not bad, but I have a better offer. I want to buy an ebook for my library, and have my library own it.
If some sets up a store like this I will it will be my first choice for buying ebooks. There are a lot of books that I just want to read once. I usually don't buy them because I don't want them to sit around. But if my library can use them when I'm done, I just might part with the money. (The tax write-off wouldn't bother me either.)
P.S. Please forward this to Overdrive. I want them to explain why my system won't work.