Benedicte Page at The Bookseller says that even as Amazon is doing battle with Hachette in America, they're trying to get publishers in the UK to sign contracts that contain some shocking new additions:

Along with improved discounts on wholesale contracts, Amazon has introduced a number of new clauses in publisher contracts. One causing particular worry is a proviso that should a book be out of stock from the publisher, Amazon would be entitled to supply its own copies to customers via its print-on-demand facilities.

If UK publishers sign these contracts, they'd be giving the keys to the kingdom away; they'd basically be allowing Amazon to become a temporary publisher of their most popular titles. It's not hard to envision this contract leading to newer contracts where the publishers become nothing more than glorified intellectual property holders.