What Can the U.S. Government Learn from the Kardashian Wedding?
ANALYSIS
Now that her wedding is over, Kim Kardashian might do the nation a favor and advise President Obama on how to get the country out of its economic slump.
The busty reality TV star cleverly leveraged her Hollywood connections to turn a profit from a wedding that reportedly cost $10 million. (Is the Princeton Economics department paying attention?) The fiscally savvy Kardashian transformed her gaudy nuptials into a money-making extravaganza by signing off exclusive photo rights to People magazine and turning the event into a made-for-boob-tube special.
The New York Post reported that Kardashian sold People the photo rights for $2.5 million and that the TV special could rake in as much as $15 million. A celebrity event planner, Tony Schubert, told the Post that luxury vendors most likely comped Kardashian for using their products in return for the publicity her high-profile wedding would shine on them.
And in order to make sure the event was as high-profile as possible, Kardashian invited celebrities that she might or might not know in favor of inviting family members. Celebrity magazines were abuzz with news that some members of Bruce Jenner's family -- he is Kardashian's stepfather -- were cut from the initial invitation list in favor of A-listers like Will Smith and Justin Bieber and B-listers like Kathie Lee Gifford.
Some $10,000 worth of invitations, incidentally, were comped by Lehr & Black, according to the Post.
The newlyweds are on their way to New York for another star-studded wedding reception.
If only Larry Summers and Ben Bernanke could get Kardashian to jet to Washington to advise them on monetary policy. To be sure, the reality show diva lacks the Ivy League pedigrees of Summers and Bernanke. But her street smarts on how to cash in on just about anything she does might be just the sort of out-of-the-box thinking Obama's advisors need to jump-start the economy.
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