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Well, that was a very unusual story. I suppose in some ways somewhat parallel to Life, but I hope it lives longer. After the magazine development group had sort of flopped around for a year or two and the only thing that had come out of it was Money, which wasn't at that point exactly a howling success, I brought up an idea that I had been mulling over I guess for quite a while, and which I thought might in some minor way have a success that Life had at its hey day. And I went to Otto Feverbringer and said, “Otto, why don't we do a magazine called People?” Essentially, instead of starting with the news of last week, start with the people of last week, of one kind or the other, and see whether we couldn't make a magazine that would really tell you quite a lot about what's going on, but in a light hearted nearly gossipy way. Pictures that wouldn't be the size of Life because you know that the size of Life was one of the things that bankrupted it. It'd be a regular size. It would be black and white only because there are very few occasions when you need to photograph people in full color. There are subjects that have to be photographed in color. If you want to do fashions, you want to full color, or if you want to do an art magazine you have to do full color but with people only you don't. This would have great advantage in terms of economy in printing, plate making, all of that because it's black and white. And the advertisers would supply the color. If it was successful, it wouldn't look black and white because there would be enough pages with the color. Well, he seemed to think that had some merit.

What gave you the idea?