Sunday, March 29, 2009

The Lighter Side - When $32.4 Million Just Isn't Enough

We have been reading about and listening to news about a former CEO getting a divorce. In today's world, this is not an earth shattering event, but when the post-nuptial agreement calls for $32.4 million and it is labeled not nearly enough. Instead, the soon-to-be-ex-wife wants $100 million cash, alimony, and homes, jewelry and a couple of Mercedes-Benzes, for less than seven years of marriage... with no children.

There have been numerous stories about it lately, but it is a good idea to start with the editorial from Bloomberg.

Wife Calls CEO Divorce Threats Foreplay - By Ann Woolner - Bloomberg - "For people with any depth at all, divorce wrenches the soul. It transforms a loving life partner into an unrecognizable jerk they wish never to see again. For 66-year-old United Technologies Corp. Chairman George David, filing divorce petitions worked as a prelude to sex. At least, that’s how the story goes according to his soon- to-be ex-wife, Marie Douglas-David, 36, a Swedish socialite and former Lazard Freres asset manager."

Marie Douglas-David seeks $99m for talking about work - The Daily Telegraph - "A Swedish countess seeking a divorce from the former chairman of United Technologies Corp. is entitled to $99 million from him because they talked about his work, her attorneys argued today."

Countess in Dizzy Bizzy Boast - Firm's $ecret Weapon - By Laura Italiano - "Marie Douglas-David says she's such a financial wizard, her husband, George David, consulted her -- often on a daily basis -- on all manner of business issues. Earnings per share and revenue growth. Board of directors staffing. Transition planning for when he stepped down, eight months ago, as CEO, retaining his position as the company's chairman."

Sources: Steve Kelley, Bloomberg, The Daily Telegraph, The New York Post

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