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tribes, and so on, were involved. Harry had--and I think we covered this earlier. Harry had had this dream at the end of the war of a world wide journalistic state department with, effectively, ambassadors at four or five places around the world. This dream collapsed, as by the way did quite a few of his dreams. Then we just had a news service serving all the publications. TIME was forever bitching about it. Of course the other publications rather liked it for economic reasons, because TIME was paying most of the bills. Finally in 1972, I guess I forget who it was--was Otto the managing editor then? Anyway, no I think Henry was.

Grunwald.

Henry, yes. Henry Grunwald was the managing editor and he pushed and pushed and got his own news service for TIME, which of course meant that then Fortune had their people and Life had their people--no, Life had gone. It would have been therefore Fortune had to have their people. Of course after that People and Money had to have their own. It was a lot of noise over not too much. If you were Curt Prendergast writing the book, this was all important to him because he was a correspondent. He was a bureau chief. But if you look at it from my vantagé point, it wasn't that big an act.

Okay. Let's talk about TIME as a business proposition, and the increasing competition from Newsweek. I'll refresh your memory on just a couple of details. According to Prendergast, in 1968 TIME fell behind in pages, dropping by some 300 pages to 2,913 while