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November 1st, 2002:

On the road again

I’m off to Florida for a wedding. Back Monday. Have a great weekend!

Happy Dia de los Muertos!

Today is Dia de los Muertos, a Mexican holiday which celebrates and remembers the dead. Here’s a nice overview of the holiday and its traditions. Go to the first URL above and follow some links there for lots of pictures.

Life on a budget

I present to you an accounting of Jack Welch’s monthly income and expenses. Life sure is sweet, isn’t it?

What does the world’s most famous retired CEO spend in an average month for food and beverages, including wine?

Answer: $8,982.

Clothes? $1,903. Gifts? $52,486.

These and other intimate details of the personal finances of Jack Welch, former chairman and chief executive of General Electric Co., spilled out this week in the latest episode of his divorce proceedings. In an eight-page financial affidavit filed in a Connecticut court, Welch offered a rare look into the lifestyle of a highly compensated executive.

Welch, who headed GE for 20 years before his retirement in September 2001, outwardly avoided an ostentatious public image and insisted that he didn’t revel in his wealth. The affidavit totted up his personal assets at $456.2 million and revealed that his current total monthly income — as a self-employed retiree — is $1.41 million, after taxes. It placed his total monthly living expenses at $366,114.

The one that kills me is that Welch gets $1000 per month in Social Security payments, a total which exceeds his monthly charitable donations by about $400. Anyone else in favor of a cap on annual income for eligibility to receive Social Security payments?