Friday, March 20, 2009

She Can't Live on $53,000... A Week!

Wife divorcing ex-CEO: $43 million not enough

36-year-old Swedish countess says she needs more than $53,000 a week

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. [...]

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. [...]

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. [...]

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.
Let me repeat this:
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.

Are you kidding me?

So many of the regular working-class folks in this country are having to cut back, or are having a really hard time these days and here she is complaining that she doesn't have enough?


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