How's Your Investment Portfolio?

[+ pitman]

One of the sad things is that, for instance, all the employees of the City of Chicago MUST live within its borders. As it is becoming more and more expensive to live in cities (and actually Chicago is one of the more reasonably priced) its employees may not be able to live there while being required to do so. So the workforce simply quits and goes elsewhere. I am not sure if San Francisco has a similar ordinance but I can't imagine how the employees do it.

There is no such ordinance in San Francisco. The CA Constitution forbids local gov't from enacting such requirements. Some have argued that cops and firefighters should be required to live in the city in order to be available in case of an earthquake or other natural disaster. I also think there is an additional benefit of requiring cops to be part of the community they are policing rather than commuting in from a demographically very different area. Many San Francisco cops live in suburban Novato (Marin County).

[Kenny]

There is no such ordinance in San Francisco. The CA Constitution forbids local gov't from enacting such requirements. Some have argued that cops and firefighters should be required to live in the city in order to be available in case of an earthquake or other natural disaster. I also think there is an additional benefit of requiring cops to be part of the community they are policing rather than commuting in from a demographically very different area. Many San Francisco cops live in suburban Novato (Marin County).

I agree about requiring police to live within the community (though in a sprawl like LA, I'm not certain how specific it could be). Otherwise, an "occupying force" comes to mind.

[+ WilliamM]

Employees of the city of Philadelphia also have to live in the city.

 

Initially I could afford to rent a small apartment near Independence Hall and the Liberty Bell, but not own a house.

[samhexum]

[LivingnLA]

[samhexum]

Lisa Marie Presley claims her former business manager squandered her entire share of late fatherElvis‘ $100 million fortune.

 

In new court documents obtained by The Daily Mail, Presley, 50, alleges that Barry Siegel assured her that her finances were in “good shape” while he whittled her $100 million trust down to just $14,000 in poor investments, including a hefty investment in the “American Idol” holding company, which went bankrupt after the show’s initial run ended in April 2016.

 

In her filing, Presley alleges that Siegel and Provident Financial Management billed her $4.9 million to manage her $100 million trust, amounting to a salary of just over $700,000 per year for Siegel.

 

“Had Siegel disclosed the trust’s true financial condition to Presley and restricted spending to the trust’s ‘income’ rather than its principal assets, Presley would have lived comfortably on an annual budget of between $1.5 and $2 million per year, after taxes,” the documents claim. “On this budget, Siegel’s lucrative compensation package would have amounted to between 40 to 50 percent of Presley’s post-tax annual budget — an amount she undoubtedly would not have agreed to had she been aware of her true financial condition.”

 

She accuses Siegel of liquidating the trust’s assets after the “Idol” investment failed to generate income in order to accommodate her lifestyle, alleging that he recommended she spend twice her annual post-tax income. That spending reportedly includes a $9 million estate in England with a balloon payment of $6.5 million in 2015 that the trust didn’t cover. She also claims that mortgages on her Hidden Hills, Calif., and Hawaii homes were worth more than the properties themselves by 2010.

 

Siegel and Provident Financial Management scoffed at Presley’s allegations, claiming in a countersuit that her money problems are simply due to her own exorbitant spending. They’re seeking a cool $800,000 in damages and argued that because Presley is going through a difficult time with her divorce from fourth husband Michael Lockwood, she’s pinning her troubles on them.

 

Lockwood, 57, demanded $40,000 in spousal support from Presley, who claimed she was $16 million in debt, $10 million of which was back taxes alone. A judge ruled that while she doesn’t yet need to shell out monthly spousal support to the unemployed musician, she would have to pay $50,000 to his attorney for court fees.

[Guest]

I agree about requiring police to live within the community (though in a sprawl like LA, I'm not certain how specific it could be). Otherwise, an "occupying force" comes to mind.

That probably wouldn’t work in wealthy communities such as Hillsborough, California, or Beverly Hills, unless you wanted to pay the police there some pretty exorbitant salaries...

[Kenny]

That probably wouldn’t work in wealthy communities such as Hillsborough, California, or Beverly Hills, unless you wanted to pay the police there some pretty exorbitant salaries...

Yep. That’s why I said it couldn’t necessarily work in a sprawl like LA.

[samhexum]

The Rolling Stone profile of Johnny Depp gives the most inside look at where the actor is today, surrounded by financial problems and a failed and probably abusive relationship with Amber Heard and clear signs that he is in fact a vampire.

 

But since the article was supposed to present Depp’s side of his legal case against The Management Group and his former business partner, let’s take a look at the most extravagant expenses the actor was shelling out.

 

First of all, Rolling Stone makes the situation very clear, stating, “It’s estimated that Depp has made $650 million on films that netted $3.6 billion. Almost all of it is gone.”

 

Where did it go?

 

1. Well, it’s suggested that the actor has a “$2-million-a-month compulsory-spending disorder,” including an alleged figure of $30,000 of wine per month, paired with an alleged yet typical quote from Depp saying, “Wine is not an investment if you drink it as soon as you buy it.”His response to that is simply, “It’s insulting to say that I spent $30,000 on wine, because it was far more.”

 

2. It is also reported that he has spent $75 million on 14 residences.

 

3. $7,000 on a couch from the set of Keeping Up With the Kardashians for his daughter.

 

4. $3 million to shoot the ashes of Hunter S. Thompson’s into the sky from a cannon, to which he says, “By the way, it was not $3 million to shoot Hunter into the fucking sky. It was $5 million.” While Depp claims the price went up when he wanted the arc to be at least one foot higher than the Statue of Liberty at 151 feet high, the author has doubts about that price tag.

 

5. Over 70 guitars.

 

6. 200 pieces of art, including Basquiats and Warhols.

 

7. 45 luxury vehicles.

 

8. $200,000 per month for private air travel.

 

9. A sound engineer on staff to feed him lines through an earpiece while filming, which he justified by saying of acting, “My feeling is, that if there’s no truth behind the eyes, doesn’t matter what the fucking words are.”

 

10. 12 storage facilities for Hollywood memorabilia (with lots of it dedicated to Marlon Brando and Marilyn Monroe).

 

11. $1.2 million to keep a doctor on call.

 

12. $1.8 million each year for round-the-clock security, also for his elderly mother.

 

13. The lawsuit is also claiming that under the former business manager’s watch, Depp’s sister Christi received $7 million and his assistant, Nathan Holmes, got $750,000 without Depp’s knowledge. Oh, and that he also had to fork over $5.6 million in late fees to the IRS.

 

And to think, he moved to Los Angeles with the intention of becoming a rockstar when a”drinking buddy named Nicolas Cage told him there was money to make in acting.” It turns out there is money to make, but hanging on to it is the hard part.

[Guest]

Well, it’s obviously not all gone. He could sell most of his abodes, vehicles, and artwork.

[Kevin Slater]

Well, it’s obviously not all gone. He could sell most of his abodes, vehicles, and artwork.

 

And he has enormous future earnings potential.

 

Kevin Slater

[gallahadesquire]

Well, it’s obviously not all gone. He could sell most of his abodes, vehicles, and artwork.

Ah but these things are only worth what the market will bear.

 

I personally don't enjoy his acting.

[Kenny]

The Rolling Stone profile of Johnny Depp gives the most inside look at where the actor is today, surrounded by financial problems and a failed and probably abusive relationship with Amber Heard and clear signs that he is in fact a vampire.

 

But since the article was supposed to present Depp’s side of his legal case against The Management Group and his former business partner, let’s take a look at the most extravagant expenses the actor was shelling out.

 

First of all, Rolling Stone makes the situation very clear, stating, “It’s estimated that Depp has made $650 million on films that netted $3.6 billion. Almost all of it is gone.”

 

Where did it go?

 

1. Well, it’s suggested that the actor has a “$2-million-a-month compulsory-spending disorder,” including an alleged figure of $30,000 of wine per month, paired with an alleged yet typical quote from Depp saying, “Wine is not an investment if you drink it as soon as you buy it.”His response to that is simply, “It’s insulting to say that I spent $30,000 on wine, because it was far more.”

 

2. It is also reported that he has spent $75 million on 14 residences.

 

3. $7,000 on a couch from the set of Keeping Up With the Kardashians for his daughter.

 

4. $3 million to shoot the ashes of Hunter S. Thompson’s into the sky from a cannon, to which he says, “By the way, it was not $3 million to shoot Hunter into the fucking sky. It was $5 million.” While Depp claims the price went up when he wanted the arc to be at least one foot higher than the Statue of Liberty at 151 feet high, the author has doubts about that price tag.

 

5. Over 70 guitars.

 

6. 200 pieces of art, including Basquiats and Warhols.

 

7. 45 luxury vehicles.

 

8. $200,000 per month for private air travel.

 

9. A sound engineer on staff to feed him lines through an earpiece while filming, which he justified by saying of acting, “My feeling is, that if there’s no truth behind the eyes, doesn’t matter what the fucking words are.”

 

10. 12 storage facilities for Hollywood memorabilia (with lots of it dedicated to Marlon Brando and Marilyn Monroe).

 

11. $1.2 million to keep a doctor on call.

 

12. $1.8 million each year for round-the-clock security, also for his elderly mother.

 

13. The lawsuit is also claiming that under the former business manager’s watch, Depp’s sister Christi received $7 million and his assistant, Nathan Holmes, got $750,000 without Depp’s knowledge. Oh, and that he also had to fork over $5.6 million in late fees to the IRS.

 

And to think, he moved to Los Angeles with the intention of becoming a rockstar when a”drinking buddy named Nicolas Cage told him there was money to make in acting.” It turns out there is money to make, but hanging on to it is the hard part.

He was paying me $4 million annually to watch his movies. Now I’m unemployed.

[+ E.T.Bass]

He was paying me $4 million annually to watch his movies. Now I’m unemployed.

[samhexum]

[+ quoththeraven]

And he has enormous future earnings potential.

 

Kevin Slater

Not really. Much of his former female fanbase doesn't want to ever see a movie of his again. I'm not sure there are enough male fans who care.

 

He might be able to get supporting roles, but his days as a lead may be over.

[LivingnLA]

Not really. Much of his former female fanbase doesn't want to ever see a movie of his again. I'm not sure there are enough male fans who care.

 

He might be able to get supporting roles, but his days as a lead may be over.

 

It's time for a total reboot. If I were his manager, I would fight for something mature, complex, and vulnerable. The comical Pirate role has destroyed everyone's memories of his strong performances in Edware Scissorhands or What's Eating Gilbert Grape or even the original Pirates movie.

[samhexum]

The comical Pirate role has destroyed everyone's memories of his strong performances in Edware Scissorhands or What's Eating Gilbert Grape or even the original Pirates movie.

 

How could you omit 21 JUMP ST?

[LivingnLA]

How could you omit 21 JUMP ST?

 

I was only mentioning movies, but yes, that was truly his break.

[+ quoththeraven]

It's time for a total reboot. If I were his manager, I would fight for something mature, complex, and vulnerable. The comical Pirate role has destroyed everyone's memories of his strong performances in Edware Scissorhands or What's Eating Gilbert Grape or even the original Pirates movie.

I still wouldn't go see it.

[gallahadesquire]

I'm coming closer to having to take Required Minimum Distributions from my IRA / 403(b). The amount is more than I'm living (rather comfortably) on right now. And that doesn't include my investments.

 

Five years on 75% pay from disability, leaving IRA / 403(b) untouched, really helped.

[Guest]

I'm coming closer to having to take Required Minimum Distributions from my IRA / 403(b). The amount is more than I'm living (rather comfortably) on right now. And that doesn't include my investments.

 

Five years on 75% pay from disability, leaving IRA / 403(b) untouched, really helped.

 

Well, you can't take it with you. I'd move to west West Hollywood and spend it all on willing hunks...

[samhexum]

Johnny Depp has reached a settlement in a legal battle with his former managers just before a trial was set to begin next month, Fox News has learned.

 

The terms of the settlement agreement are confidential.

 

“Johnny Depp is pleased to have achieved a settlement agreement with The Management Group following the legal action he took against the company in January 2017," a rep for the Hollywood actor told Fox News on Monday.

 

“The lawsuit taken out against The Management Group – and the subsequent settlement — is a further demonstration that Johnny is determined to take firm action to protect his personal and artistic reputation in the interests of his family and his career.

 

“Following the settlement, Johnny is pleased to be able to revert his full attention to his ongoing artistic endeavors, notably the second leg of the sold-out Hollywood Vampires global tour and the exciting launch of JK Rowling’s 'Fantastic Beasts: The Crimes of Grindelwald,' which will be released in theaters in November this year.

 

“Johnny extends his most sincere thanks and appreciation to the true supporters that have shown their loyalty to both him and his family over recent years.”

 

The 55-year-old sued The Management Group in January 2017, accusing the company of fraud, theft and malfeasance in its mismanagement of his business and financial interests. At the time, Depp was reportedly seeking $25 million in damages.

 

But The Management Group, led by Joel and Robert Mandel, filed a countersuit, alleging the star was the one who was recklessly spending his own money on extravagances, including $30,000 a month just for wine, as well as a sound engineer who was allegedly hired to feed him lines while filming, so he wouldn’t have to memorize them.

 

The lawsuit also alleged Depp spent $3 million to have the ashes of his friend, journalist Hunter S. Thompson, blasted out from a cannon in Aspen, Colo., following his death in 2005.

 

The trial was initially scheduled for August 15. However, Variety noted the two sides had a successful mediation over the weekend with Peter Lichtman, a retired judge who served as an arbitrator.

 

The publication added Depp still has a pending suit against his former attorney Jake Bloom, whom he accused of malpractice.

 

Back in June, Rolling Stone pointed out that Depp has made $650 million on films that netted $3.6 billion but “almost all of it is gone.”

 

Depp told the magazine he doesn’t deny having the sound engineer on his payroll, but only so that he can play him specific sounds, allowing the actor to convey emotions with his eyes while shooting.

 

“I’ve got bagpipes, a baby crying and bombs going off,” explained Depp. “It creates a truth. Some of my biggest heroes were in silent film… It had to be behind the eyes. And my feeling is, that if there’s no truth behind the eyes, doesn’t matter what the f------ words are.”

 

Depp also said he splurged on wine and that the reported figures are actually way less.

 

“It’s insulting to say I spent $30,000 on wine,” he scoffed. “Because it was far more.”

 

Depp, who played Thompson in the 1998 film “Fear and Loathing in Las Vegas,” also said the reported figure for the cannon blast is low.

 

“By the way, it was not $3 million to shoot Hunter into the f------ sky,” he said. “It was $5 million.”

 

Depp did reveal he worried how his financial woes would impact his children, 19-year-old Lily-Rose and 16-year-old Jack.

 

“My son had to hear about how his old man lost all his money from kids at school, that’s not right,” said an emotional Depp.

 

Unable to “take the pain,” Depp immersed himself in music and went on tour with his band, the Hollywood Vampires. He also found inspiration from his friend Thompson and began writing his memoirs on an old typewriter.

 

“I poured myself a vodka in the morning and started writing until the tears filled my eyes and I couldn’t see the pages anymore,” he said. “I kept trying to figure out what I’d done to deserve this. I tried being kind to everyone, helping everyone, being truthful to everyone… The truth is most important to me. And all of this still happened."

[Guest]

It's times like this that I wish I was religious so I could believe that a man like this would rot in Hell. It's bad enough that he doesn't give a shit about how his grotesque spending habits affect his own children. Just to think of all the lives that could have been saved by the $5 million he shot into the sky for absolutely no reason. What a despicable excuse for a human being.

[robberbaron4u]

Credit Mobilier Indochine doing fine, thank you.