Heather Morrison has self-archived "SCOAP3: A Key Library Leadership Opportunity in the Transition to Open Access" in the SFU Institutional Repository.
Here's an excerpt:
The SCOAP3 consortium aims to transition the whole of High Energy Physics (HEP) publishing from a subscription to an open access basis. SCOAP3 currently has commitments for more than 63% of the projected 10 million Euros per year budget, from partners in more than 21 countries, including more than 50 libraries and consortia in the U.S. Full participation from the U.S., a leader in HEP research, is both essential and particularly challenging, as the U.S. does not have a national coordinating body that can make one commitment for the country, as many other countries do. While the work to undertake this commitment for the library should not be underestimated – figuring out subscription costs when journals are part of a big deal, often through a consortium – neither should the benefits be underestimated. In brief, the benefits are the optimum access that comes with open access—full open access to the publisher's PDF for everyone, everywhere; a model for transitioning to open access that involves no financial risk, as commitments are capped at current subscriptions expenditures, and SCOAP3 is addressing the issue of unbundling successful journals from big deals and reducing costs accordingly; future financial benefits as a transparent, production-based pricing model for scholarly communication introduces competition into a market where it has been lacking; gaining publisher acceptance of library advocacy efforts for open access by addressing a key concern of publishers (financing the journals in an open access environment) and perhaps most importantly, establishing a leadership role for libraries in a future for scholarly communication that will be largely open access. As Douglas (2009) explains, "To move forward in achieving open access, U.S. libraries that subscribe to any of the five journals that are considered 100 percent convertible to SCOAP3 (European Physical Journal C, Journal of High Energy Physics, Nuclear Physics B, Physical Review D, and Physics Letters B) need to participate". If this describes your library, please go to the SCOAP3 website, now, to learn more and participate in this innovative global collaboration that can be a model, not only for transitioning to open access, but also for how humankind can work cooperatively across borders to accomplish a great good that will benefit all of us.