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Nigella Lawson and the High Cost of divorce

Nigella Lawson Eats A Banana (Photo credit: Kaptain Kobold)

Heartache and heartbreak are hard enough to endure but imagine having to go through the loss of a relationship while the world looks on. Such is the high price of celebrity divorce and the latest victim is the beautiful and talented television chef, Nigella Lawson. Shocking photos of Nigella apparently being choked by her husband, Charles Saatchi, surfaced in the media following the June 9th dinner at Scott’s restaurant in Mayfair, London, where the incident occurred. Saatchi’s advisors urged him to humble himself and admit a public apology for the assault. Saatchi denied any wrongdoing, saying he never assaulted her and in fact, was actually removing mucous from his wife’s nose. Nigella was stunned by the admonition of “nose-picking” and his refusal to apologize. She left Saatchi and their family home in Chelsea.

The two sides continued to disagree about the pictures; Saatchi claiming it was just a “playful tiff” and Lawson hurt and humiliated by the public’s assumption of her as victim of domestic violence and her husband as her tormentor. Insult was added to injury on July 7th, when Saatchi announced his intent to divorce his wife in the media instead of directly to her. Lawson, who had been waiting for a public apology, was blind-sided by his cruel divorce announcement. Lawson and Saatchi have been married for 10 years; Saatchi has claimed that the couple had become “estranged” the last few years. Saatchi claims that he had no choice but to act publicly since his wife “failed to defend” him with a statement to the media. In fact, Lawson has remained silent at the advice of her publicist so as not to further affect their children. Lawson (53) and Saatchi (70) have three teenage children from previous marriages that they were raising together.In addition to the “he said, she said” controversy, Lawson and Saatchi will have to fight over $150 million in shared assets, including their $12 million Chelsea, West London home. Both brought substantial assets into the marriage. Charles Saatchi is worth $100 million from the high-profile, highly-successful New York advertising firm, Saatchi and Saatchi. Nigella Lawson is a celebrity chef, bestselling author and television star with a net worth of $15 million. By the time lawyers for both sides duke it out in court and attempt to untangle the shared assets, those net worths will be considerably less.But it’s not just a monetary cost to this celebrity divorce. Saatchi had grown increasingly resentful of his wife’s high-profile career that he helped established. It’s a common theme in celebrity couples; one partner becomes the higher earner or the more recognized celebrity and the other gets bit by that green-eyed monster, jealousy. In Nigella’s case, there is the public humiliation at the hands of someone she loves to endure. It seems that Saatchi is determined to do whatever he can to make her suffer in the media. And then there are the children; children always suffer in a divorce. It can be lessened when parents work together to keep it private and amicable. But it’s incredibly painful to have your lives dragged through the media. In this case, it is Nigella and Saatchi’s children that are paying the ultimate price.

What is a Mechanic’s Lien?

Finance

: Image via Wikipedia

When you hire someone to work on your property or provide material to build or improve it, they are entitled to get paid. A mechanic’s lien is the method of enforcing that payment.

Here is what you need to know about mechanic’s liens.

A contractor must usually give you written notice of intent to file a lien if the contract isn’t paid. He needs to do this within a short time of beginning the work. The notice will include text to the effect that subcontractors also have the right to file a lien if they are not paid. This notice gives you two methods of defense: You can pay the subcontractors directly and withhold that amount from the payment to the contractor, or you can withhold the final payment until you have received a lien waiver from each of the subcontractors.

If the notice isn’t given correctly, the contractor forfeits his right to file a lien. Also, in most places, if a contractor is supposed to be licensed to do the work, but isn’t, he’s not able to file a lien.

Subcontractors must also provide notice on intent within about 45 days–depending on the state–of the time they first provide services or material, or the lien is not enforceable.

Protecting Yourself

First, you only have to pay once. If you pay the contractor in full before getting the notice of intent from the subcontractors, you can’t be forced to pay again.

Next, make the contractor provide a list of all subcontractors and keep track of any notices of intent you get. Get lien waivers from everyone involved before you make the final payment to the contractor.

Finally, you have the rights defined in the notice of intent to file a lien. You can either pay the subcontractors directly, or you can withhold the final payment until you receive lien waivers from each subcontractor.

Resolution

The lien holder has 120 days to file the lien and 1 year to enforce it. Enforcing simply means that it a suit has been filed. Once that happens, you can either pay the contractor, attempt to settle with the contractor, or you can take the contractor to court to determine the “adverse claims” on your property. There aren’t too many choices at this point.

Do yourself a favor and get lien waivers before you make the final payment on any work done on your property.

Crying is for Winners

Finance

Have you ever seen a kid come off a wrestling mat, crying his eyes out because he lost?

Wrestling Sideways - Really (Photo credit: Creativity+ Timothy K Hamilton)

Often, that kid will get told to be tough and stop crying.

That’s wrong.

I’m not opposed to teaching kids not to cry under most circumstances, but just after an intense competition, I love it. It’s the best possible sign that the kids was pouring his soul into winning. It means he was trying with everything he had.

It means he is–or will be–a winner.

When a kid, particularly a boy in a tough sport, is crying, you know he’s going to try harder and do better next time.

For all of the “tough guy” ability it takes to succeed as a wrestler, I’ve never seen another wrestler teasing the crier. They’ve all been there. Wrestling is a team sport, but you win or lose a match on your own. When you step out in front of hundreds of people and spend 3 to 6 minutes giving every ounce of everything you have to give, only to find it’s not good enough, you’ll often find you don’t have the final reserve necessary to control your emotions.

This is different than a kid crying because he lost a game, just because he lost. Some kids feel entitled to win anything they do, regardless of the effort they put it. That’s also wrong.

Crying at a loss is okay after putting in maximum effort and full energy, not because the dice went the wrong way.

Twitter Weekly Updates for 2010-04-10

Misc

"The best way to spend your money is to spend it on time, not on stuff." http://su.pr/2tr5iP #
First bonus by stock options today. Not sure I'm impressed. #
RT @chrisguillebeau: US border control just walked the train asking "Are you a US citizen?" Native American guy says: "One of the originals" #
@FARNOOSH My credit score is A measure of my integrity not THE measure. in reply to FARNOOSH #
I'm listening to a grunge/metal cover of "You are my sunshine" #
There's something funny about a guy on reality TV whining about how private he is. #LAInk #

Twitter Weekly Updates for 2010-04-24

Misc

Watching Gamers:Dorkness Rising #
Charisma? Weee! #
Tweeting a dork movie? I'm a bit of a geek. #
We just met and the first thing you do, after boinking a stranger in the presence of the king, is to murder a peasant? #
Every movie needs a PvN interlude. #
Everything's better with pirates. #
Waffles? Recognize. #
The Spatula of Purity shall scramble the eggs of your malfeasance. #
Checkout clerks licking their fingers to separate bags or count change is gross. #
Watching Sparkles the Vampire, Part 2: Bella's Moodswing. #twilight #
@penfed was a waste of money. $20 down the drain to join, wouldn't give a worthwhile limit, so I can't transfer a balance. #
@JAlanGrey It's pretty lame. The first one was ok. This one didn't improve on the original. in reply to JAlanGrey #
RT @tferriss: Are you taking snake oil? Beautiful data visualization of scientific evidence for popular supplements: http://ping.fm/pqaDi #
Don't need more shelves, more storage, more organization. Just need less stuff. #
@BeatingBroke is hosting the Festival of Frugality #226 http://su.pr/80Osvn #
RT @tferriss: Cool. RT @cjbruce link directly to a time in a YouTube video by adding #t 2m50s to end of the URL (change the time). #
RT @tferriss: From learning shorthand to fast mental math – The Mentat Wiki: http://ping.fm/fFbhJ #
RT @wisebread: How rich are you? Check out this list (It may shock you!!!) http://www.globalrichlist.com/ #
RT @tferriss: RT @aysegul_c free alternative to RosettS: livemocha.com for classes, forvo.com for pronunc., lang8.com for writing correction #
Childish isn't an insult. http://su.pr/ABUziY #
Canceled the Dish tonight. #

7 Benefits of Investing Internationally

Business

Foreign Currency When it comes to financial investments, it’s always better to go with an informed decision than one that relies merely on chance – besides, gambling only works when luck’s on your side. Fortunately, international investments are a financially secure and reliable form of investing as long as you know your limitations. So, in keeping with the idea of sound financial decisions, here are seven benefits of investing internationally:

Diversification of Your Funds

A diversified financial portfolio gives investors options in terms of economic fluctuations and, by investing internationally, your finances will have alternative sources of stability. In other words, if your money is spread out among various countries, then an economic crash in one country won’t affect other investments.

It goes without saying that with diversification also comes a learned understanding of various global economies and markets, but with the help of a financial adviser or with a little research, you’ll have the ability to make informed global investments, which is always better than the “eggs in one basket” approach.

Investing Abroad Means More Options

Just like there’s diversification with investing internationally, there are also many options when it comes to the way you want to invest your finances. And, with international investing growing in popularity, the investment options available in today’s market are quickly becoming commonplace.

Three of the most popular forms of international investments are mutual funds, exchange traded funds (ETFs), and American depository receipts (ADRs). And, although mutual funds are a common form of investment, ETFs and ADRs trade much like stocks and therefore take a little more financial knowledge to navigate.

International Protection and Confidentiality

If you’re the type of investor that’s worried about financial scares associated with foreclosures and lawsuits, investing internationally has an added advantage of asset protection. With investing abroad, many foreign financial institutions are able to protect your investments from seizure and other threats.

Likewise, investing internationally also comes with confidentiality concerning your finances. International financial institutions are not legally required to divulge your monetary details to anyone. Confidentiality isn’t to say that international investments are exempt from legalities, but they’re entitled to more freedoms.

Investment Growth on an International Level

In terms of household incomes, import/export strengths, younger working populations, and the lean toward free-market economic policies, investing internationally has the potential for more growth than investing in the United States alone, which translates to an increase in return potential in overseas investments.

In fact, according to the International Monetary Fund, the United States is expected to fall below the rest of the world for the next two years when it comes to economic growth. Because of this, companies like Fisher Investments Institutional Group are strategizing toward international investments in strong economic climates across the world.

Currency Diversification Strengthens Portfolios

Much like international investing gives your portfolio safety in numbers as opposed to having all assets invested in one country’s economy, so do currency differences from country to country. In relation to the US dollar, many countries across the world have stronger currencies, which helps boost returns over time.

The flip side of this coin is the idea that fluctuations in currency strengths can just as easily work against your portfolio as they can strengthen it. It’s wise to keep an eye on international currency rates and how they compare to the US dollar, but never invest solely based on rates as a country’s currency can drop in strength overnight.

A Reduction in Taxes

Otherwise known as tax havens, many countries across the world offer attractive tax incentives to foreign investors. These incentives are meant to strengthen other country’s investing environments as well as attract outside wealth.

These tax incentives are particularly attractive to US investors due to the increasingly high taxes in the country. As a result, the United States government is creating more defined restrictions and laws when it comes to international investment tax incentive regulations.

Investment Potential in the United States is Dwindling

Because the United States has both the world’s largest economy and stock market, financial opportunities are almost maxed out due to over-investing. On the other hand, emerging markets in other countries are growing in size and strength, which is quickly resulting in stronger economies and more investment opportunities.

By ignoring the potential of other world markets, you’re also ignoring global economies and stock markets that offer unforeseen investment potential when compared to the United States, which is something every investor should keep in mind.

So, from portfolio diversification to investment growth, investing internationally is a great way to expand your financial horizons.

This is a guest post.

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