Studio excess

NOTHING new. Hollywood never controlled its money [“When the ‘Yes’ Becomes a ‘No,’ ” on studios getting skittish about high-budget films, July 9].

Louis B. Mayer paid Greta Garbo $12,500 a week (52 weeks a year) in 1930 money. That $12,500, according to the Federal Reserve, is $146,000 in 2005 dollars and was paid at a time when income tax was 3%.

AXEL MADSEN

Hollywood Hills

Madsen has written several books, including “Chanel: A Woman of Her Own” and “Gloria and Joe.”