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Notable New     Yorkers
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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

the reader's interest. And not long after he took over, but that must have been six, seven years after we launched Money; it had grown to, oh five hundred thousand, seven hundred thousand. And actually went into the black. It was a magazine really directed at middle income people, mainly younger people who had, who didn't have very much knowledge about how to handle money, how to invest it. And suddenly under Loeb, it really flourished and the circulation rose and rose. And it is now one of the more successful magazines we have. For a monthly it makes a pile of dough, and looks like it might go doing this forever. However, it is the only success that we had that was directly related to the experimental department although People, which we'll talk about later, was in a way an outgrowth of it.

Moving forward a fi-


Are you off of Money?Have you finished with Money yet?

Andrew Heiskell:

No, I'm still on experimental. Moving forward fourteen years, thirteen years. A magazine development group was once again created. And they, under Marshall Loeb, created prototypes, dummies of five, six, seven different kind of magazines, but somehow the management never could make up its mind as to which it wanted to pursue. And when the vultures of Wall Street started operating in the middle Eighties and restructuring became the name of the game, Time Inc. cut back on everything. The first thing it was to cut out the magazine development group entirely. And thereby eliminate a number of possible magazines. So magazine development as

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