Word: lorna
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...marveled at the extraordinary pay package unveiled last week for former GE executive Gary Wendt, the new boss at Conseco, whose high-profile divorce in 1997 became a test for the worth of a dutiful corporate wife. Some would say the position pays quite well, thank you. Lorna Wendt got $20 million in parting. Yet that's barely 15% of her estimate of her husband's net worth at the time. She has appealed and seeks an additional $35 million...
...million signing bonus and a guaranteed bonus of up to $50 million in two years--although he did forfeit some GE incentive money. He will also be getting stock, stock options and, oh yeah, a salary of many millions more. His ex will get none of it. As noted, Lorna Wendt won't go begging. But the man she spent 32 years with is now, just a few years removed, infinitely more wealthy than...
Fair? We could argue that all day. Clearly, though, the Wendt case shows how women fall behind and points up their greater need to be prepared. Step one is to know the family finances. "Knowledge is power," says lawyer Sarah Oldham, who represents Lorna Wendt. "If you know what's there, you can have input on how it gets spent." And you won't feel helpless in the event of divorce or death. Get a handle on your household income, savings and investments--and know where the records are. Also, make certain your husband is adequately insured and that...
...milk for dessert). Her weight, of course, is hardly the only thing that has made her a star of the gossip pages. There were the slew of canceled concert appearances, the reports of erratic behavior, a faltering singing voice and a feud and chilled relations with her half sister Lorna Luft, author of a warts-and-all family memoir. No one ever said being the daughter of Judy Garland (dead of an overdose at age 47) was easy. But for a walking, talking soap opera, you'd have to look pretty hard to top Liza...
Which is not quite the way it sounds in Luft's tell-all book, Me and My Shadows: A Family Memoir (which, among other things, recounts Lorna's role in getting Liza into rehab). The two aren't talking now, though Liza doesn't describe it as a feud: "We're sisters, and we're going through something." She won't even bad-mouth the book, which she claims she hasn't read. "It's her point of view. I think it was probably cathartic for her to write it." Catharsis or not, Liza refused to join her sister...