Sexes: Male Orders

By reputation, Arizona State University is a Sunbelt country club, devoted to avid partying by wealthy youngsters who are so good-looking that modeling agents regularly prowl the campus. Among the first exploiters of those attractive student bodies was Pi Kappa Alpha. For 25 years the fraternity has put out an annual girlie calendar that features campus women. Perhaps the most successful of the campus entrepreneurs, however, is Todd Headlee, 23, a marketing major with a Doonesbury name, who is growing rich by publishing a pinup calendar—for women.

In 1980 Headlee and five friends...

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