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Old 03-19-2009, 03:45 PM
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Default $53,000 a Week Not Enough?

The wife of an ex-CEO is divorcing her husband and claims $53,000 a week isn't enough. I honestly thought she was an American, but she's a Swede.

The article says at the rate she spends money, she would burn through 43 million in less than 16 years.

Some people really need a reality check.

http://www.msnbc.msn.com/id/29760888/?gt1=43001

Quote:
Wife divorcing ex-CEO: $43 million not enough
36-year-old Swedish countess says she needs more than $53,000 a week


updated 5:20 p.m. CT, Wed., March. 18, 2009

HARTFORD, Conn. - A 36-year-old Swedish countess divorcing a former CEO says she cannot live on $43 million.

Marie Douglas-David, a former investment banker, says she has no income and needs her 67-year-old husband, George David, to pay her more than $53,000 a week more than most U.S. households make in a year to cover her expenses.

David stepped down last year as chief executive at Hartford-based United Technologies Corp. but is still chairman of the board and has an estimated net worth of $329 million. He and his wife accuse each other of extramarital affairs. Their divorce trial started Wednesday.

"I'm just very sad that we are where we are," Douglas-David said. "I hope we resolve this soon so everybody can move on with their lives."

David briefly took the stand Wednesday. Asked if his marriage is irretrievably broken, he simply answered, "Yes."

Marriage was in trouble by 2004
David and Douglas-David married in 2002, but the marriage was in trouble by 2004, court papers show. Amid a series of reconciliations, the couple signed a postnuptial agreement in October 2005 that would give her $43 million when they divorce.

Douglas-David wants the agreement invalidated. She accused her husband of coercing her to sign it by preying upon her fears of being divorced and childless.

David is asking a judge to uphold the agreement. His attorneys asked for a separate hearing Wednesday on the document's validity, but the judge declined.

Douglas-David has filed court papers showing she has more than $53,800 in weekly expenses, including for maintaining a Park Avenue apartment and three residences in Sweden. Her weekly expenses also include $700 for limousine service, $4,500 for clothes, $1,000 for hair and skin treatments, $1,500 for restaurants and entertainment, and $8,000 for travel.

At that rate, Douglas-David would burn through $43 million in less than 16 years. The Census Bureau estimates that the median U.S. household income in 2007 was just over $50,000.

Anne Dranginis, an attorney for David and retired Connecticut Appellate Court judge, predicted that Douglas-David will get much less money in the divorce if she doesn't accept the terms of the postnuptial.

Wife quit her job as investment banker
In court papers, Douglas-David said she quit her job as an investment banker for Lazard Asset Management to travel and entertain with David, who still earns $1 million a year from United Technologies. While chief executive in 2007, David made nearly $27 million in salary and bonuses.

Douglas-David's legal team includes prominent New York divorce attorney William Beslow, who represented Mia Farrow in her child-custody suit against actor-director Woody Allen and Marla Maples in her divorce from Donald Trump.

United Technologies is the parent company of Carrier, which makes air conditioning units, and Otis Elevators. It also owns Sikorsky, which makes commercial and military helicopters, and Hamilton Sunstrand, an aerospace manufacturer that makes components for NASA's space program.

David is expected to return to the stand Thursday for several days of testimony.
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Old 03-19-2009, 04:00 PM
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I saw this in the Metro paper on the trainthis morning. Completely ridiculous!
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Old 03-19-2009, 04:22 PM
Bonnie Bonnie is offline
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You know I have nothing against people making it big and having money, but when you read stuff like this it just makes you .

You think of all the people who struggle to just have food and pay their bills or people who can't afford medical insurance. It's just unreal how some people (rich) live.

When I was in college, in one of our classes we collected all of this food (can goods, ham, etc...) for Christmas to give to one family in need. So, several of us go to their home to deliver what we had collected. Their was the dad and three or four children all fairly young (not babies). When we brought that food in, you would have thought we were bringing them toys; they were so excited. I had to struggle not to break down in tears at seeing their joy; it was incredible. The dad didn't say anything, he just stood there. I imagine what it must have been like for him to stand there while we brought food to his family. Even a poor man has his pride.

I've never forgotten the look on those children's faces and their exclamations of excitement when they realized we had brought them food. It was very humbling!
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Old 03-19-2009, 05:34 PM
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Quote:
Originally Posted by Bonnie
You know I have nothing against people making it big and having money, but when you read stuff like this it just makes you .

You think of all the people who struggle to just have food and pay their bills or people who can't afford medical insurance. It's just unreal how some people (rich) live.

When I was in college, in one of our classes we collected all of this food (can goods, ham, etc...) for Christmas to give to one family in need. So, several of us go to their home to deliver what we had collected. Their was the dad and three or four children all fairly young (not babies). When we brought that food in, you would have thought we were bringing them toys; they were so excited. I had to struggle not to break down in tears at seeing their joy; it was incredible. The dad didn't say anything, he just stood there. I imagine what it must have been like for him to stand there while we brought food to his family. Even a poor man has his pride.

I've never forgotten the look on those children's faces and their exclamations of excitement when they realized we had brought them food. It was very humbling!
Ahh thats so thoughtful of you to do that for the family. I think its sad also that so many people are consumed with money that they lose all marbles! I mean don't get me wrong I love money too, however its useless when one can't share or help others...Just a tragedy...The small things in life are the ones I cherish..
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Old 03-19-2009, 05:40 PM
Moose
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Come on guys, class warfare. What are you protecting billionaires from?
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Old 03-19-2009, 05:57 PM
Bonnie Bonnie is offline
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Quote:
Originally Posted by Moose
Come on guys, class warfare. What are you protecting billionaires from?
They are always going to be protected--the rich and powerful. We just had a story locally on a madame getting busted for a prostitution ring here in Houston. There is a "list" that has doctors, lawyers and athletes names. Supposedly it's going to be made public. I'll believe that when I see their names listed in bold print in the paper and splashed on tv.

They mentioned a madame from Dallas that had been busted and spent time in prison several years ago. Her list was destroyed (I'm assuming this was ordered by some judge) because apparently the men on that list went "way up" the ladder and they couldn't allow "them" to be exposed. Probably senators, judges, etc...

Sa la vie...
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Old 03-19-2009, 05:59 PM
Chuck
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Quote:
Originally Posted by Bonnie
You know I have nothing against people making it big and having money, but when you read stuff like this it just makes you .

You think of all the people who struggle to just have food and pay their bills or people who can't afford medical insurance. It's just unreal how some people (rich) live.

When I was in college, in one of our classes we collected all of this food (can goods, ham, etc...) for Christmas to give to one family in need. So, several of us go to their home to deliver what we had collected. Their was the dad and three or four children all fairly young (not babies). When we brought that food in, you would have thought we were bringing them toys; they were so excited. I had to struggle not to break down in tears at seeing their joy; it was incredible. The dad didn't say anything, he just stood there. I imagine what it must have been like for him to stand there while we brought food to his family. Even a poor man has his pride.

I've never forgotten the look on those children's faces and their exclamations of excitement when they realized we had brought them food. It was very humbling!
That's awesome Bonnie!

Our last few years in Washington we didn't buy our children any Christmas gifts. Instead we sponsored a family in their elementary school. They weren't too happy about it until after the Christmas break was over and school started again. The first day back after the break my kids came home all excited.. talking about how they saw the kids we sponsored with the jackets we had bought and how much they loved them and were telling their friends about the best Christmas they'd ever had.

It was, like you said, pretty humbling...

We also had a friend who was a missionary and the night before he was scheduled to go back to Burma he was short $$ to finish buying the rice he needed. So I went around to my friends and neighbors and collected $1500 in about 6 hours. We went to his house at about 11pm and gave him a check. He started to cry.... it was pretty cool. In a awkward watching a grown man cry sorta way.
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Old 03-19-2009, 07:13 PM
matthughesfan21
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thats freaking ridiculous, it reminds me of Latrell Sprewwell turning down that massive contract offer because "it wasn't enough to feed his family" tell the golddigging b!T<h to learn think about how priviledged she really is.....Shoot her for all i care
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Old 03-19-2009, 07:27 PM
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Quote:
Originally Posted by Moose
Come on guys, class warfare. What are you protecting billionaires from?
The concept of class warfare runs completely contrary to the values that America was founded upon. It also runs completely contrary to the Bible. Remember the commandment that says, "Do not covet"? What that basically means is that we shouldn't be envious of other people because of their earthly wealth or possessions. Which is exactly the kind of behavior that class warfare encourages.
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Old 03-19-2009, 07:36 PM
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Originally Posted by NateR
The concept of class warfare runs completely contrary to the values that America was founded upon. It also runs completely contrary to the Bible. Remember the commandment that says, "Do not covet"? What that basically means is that we shouldn't be envious of other people because of their earthly wealth or possessions. Which is exactly the kind of behavior that class warfare encourages.
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