I always got the impression Chancellor Industries was a group of factories, just like the one Phillip oversaw in Genoa City. In one of the early episodes, Phillip encouraged Kay to take a vacation to Nassau, but he couldn't accompany her because it would look bad to take a vacation while he was doing lay-offs at the plant. There was never any indication that Phillip & Kay were "billionaires", just that they'd grown wealthy from running blue-collar type businesses (probably shirt factories, or jeans factories, or coat factories). We saw the innerworkings of the Chancellor Industries corporate offices in 1980, and that seemed to underline that it was merely a small to mid-sized company that operated factories. It seemed downright ludicrous when Kay Chancellor died circa 2013, and they announced she was magically a billionaire.
When John and Jill Abbott were divorcing in 1985 or 1986, they made a BIG DEAL about John Abbott being required to file a financial disclosure to determine Jill's settlement and alimony payments. Michael Crawford (Jill's attorney) was surprised to learn that John Abbott was worth almost four million dollars! Brenda Dickson's Jill became extremely greedy when she heard that "giant" number being thrown around. In today's dollars, that would be like $12 million -- not even enough to require the filing of an estate tax return at John's death.
The writers have completely lost sight of poorer people, and they've also lost sight of the "moderate wealth" we were always led to believe the upper echelon characters possessed.
By
Broderick ·
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