Word: wendt
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These issues came into focus for me as I 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...
...that sounds greedy, consider her husband's five-year deal to serve as CEO of this beleaguered insurance company. Wendt landed a $45 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...
...there: to fight the loss and loneliness that attend AIDS and other human calamities. A woman (Elizabeth Franz) whose son had died in a car accident was comforted by the beautiful singing of the woman (Audra McDonald) whose car had hit him. Two G.I.'s (Brian Dennehy and George Wendt) play a game of Botticelli while waiting for, and then gunning down, a lone enemy soldier. At the funeral for a young man dead of AIDS, his lover (Tim Robbins) tries to reach out to the dead man's mother (Zoe Caldwell), stranded in grief and anger...
...TURN THE CORNER BACK ONTO 45TH STREET BUT QUICKLY grind to a halt once again in front of a closed theater. The marquee advertises a play starring Judd Hirsch, George Wendt and Joe Morton, the heroic sheriff from "Blazing Saddles." We smell a Tony...