Stephen, we got the same notice from our subscription agent.  The reason they gave is that the journal hadn't increased in cost in many years, which is true.  It was about $40 for the past 4 or 5 years. 
Leslie O'Brien
Virginia Tech
At 10:10 AM 9/24/2009, you wrote:
Hello,

We just received a notice from our subscription agent that Scientific American was raising their print subscription price for 2010 from $41.91 (which includes the agent's service charge) to $299.00  Has anyone else received this outrageous increase notice?
We are in the process of contacting the publisher to find out what might be the cause of this dramatic price rise.

Stephen

--
Stephen Clark
Acquisitions Librarian
College of William and Mary
Earl Gregg Swem Library
Williamsburg, VA 
phone:  757-221-3107
fax:  757-221-3645
email:  sdclar@wm.edu