They make a humongous profit, but the people that work on the shows don't get paid a lot because they're working on the Oscars show. It's the biggest show in the world.

It's the biggest party in the world, and you have to keep the whole thing percolating, which is difficult because a lot of awards most people don't care about.

The Oscars are about the dynamics of that moment, of that season. It reflects what's been going on in the world every year through the movies. And a lot of times, what's popular at the movies is popular because of what's going on in the world at that moment.

I mean, when I started out I was billing per hour, like a shrink because you would sit with somebody and work. But most of it, if it's for a live show it's usually a buy-out. A flat fee.

Generally with the Oscars or the Emmys there isn't much you can do until the nominations are announced. Then you know what kind of year you're dealing with - what's been overlooked, what the issues are.

As I'm always fond of telling hosts at the Oscars who are doing it for their first time, for everybody who wins, there are four people who don't. As the evening wears on, the room fills up with losers, and then they are bitter.