Econprof, teaching requires more like 60 hours a week during the semester if you want to be any good at it especially when you are developing new curriculum and dealing with ever increasing class sizes.
Yes, teaching does the benefit of extended periods of time off but when you are working, the hours and expectations are much more intense than a regular 40 hour a week job.
Many teachers try to avoid the crunch during the semester by spending their summers developing new curriculum and improving existing lecture notes and evaluation methods.
I am not surprised at the pay this teach was making. Many teaching positions start out in the low 30 thousand range and schools have frozen salaries now for many years. In fact, many states are launching a fresh wave of layoffs which will only increase the work load of those lucky enough to keep their jobs. At this time, pay increases seem extremely unlikely over the next 3-5 years.