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Posted on December 23 at 3:48 p.m.
@myrrddin To call Clark the top 1% of Americans would be placing her in a group of 1,500,000 families or 3-5 Million people-thats a lot of people! The top one percent is not who you think it is. Of the top one percent Clark falls into the top one percent of that group, so she is the top .01% or .0001 of Americans. Even that does not narrow it down much, that group numbers 30,000-50,000 people! Yikes! To be in the top one percent of Americans you have to bring home about $350,000/year that is pretty close to the upper average double income family in Santa Barbara. (My basis for this is there are public school teachers who make over $100k here in SB, and the average home <not condo> price is over one million dollars, to afford that you need to be making close to the national average 1%'er) Also about your question, surely even folks with minimal estates can fall victim to Guardian Abuse or a breach of Fiduciary duty, luckily for most Americans the silver lining for those with little estates would be the $5M Exemption that will cover the estate taxes. Sadly it seems that those with smaller estates seem to be more likely to fall victim to unscrupulous behavior because the margins are smaller and oftentimes there are less checks and balances for small accounts.
Does anyone know:What is the value of the gross estate?
With all the talk about her real estate, how much of her estate is liquid?
@Barney Could you include the opinion of a local estate/trust firm here in town like Price, Postal and Parma? This is an extremely unusual case which has given it a lot of attention and really would be helpful to have the perspective from some local Professionals in this field.
On Fraud Charged in Huguette Clark Case
Posted on December 13 at 12:54 a.m.
I just wish the Federal government got out of subsidizing these market inefficiencies-whether it be solar or nuclear!
On Should the two nuclear power plants in California be shut down?
Posted on November 21 at 3:14 p.m.
I am glad her distant heirs are contesting this will, I hope they prevail over the suspicious attorney and accountant.
The thought of her estate passing entirely to her attorneys and accountants is disturbing, especially under the guise of an "art museum."
On Clark Estate Art Museum in Question
Posted on November 21 at 1:31 p.m.
The project will cost much more than $400M and the thought of even spending that much on 2 measly HOV lanes (that imo will not solve the problem) sickens me.
For the residents who want to preserve the uniqueness SB and rural feel of Montecito it sadens me no bigger ideas have come forward from such a capable community.
A few ideas come to mind.
1. The first idea is to do nothing. Let it be. We all know there is traffic at peak hours, and can make decisions for ourselves when to leave. If anything add a better usage metrics system that reports peak hours and usage stats on digital boards to better inform people when the best times to use the road are. Let people make decisions for themselves.
2. The cheapest/simplest idea being adding a toll booth for peak hours. This will immediately get people to think a little more about their commute/schedule and reduce traffic. If 'traffic' is really the problem, then this is the best solution.
3. The third idea would be to add more efficient commuter trains from Carp, Ventura, and Goleta into Santa Barbara. Either next to the Amtrak Tracks or along the freeway, if the trains were more efficient more people would use them, reducing the people on the road with the longer 15+ mile comutes.
4. The last and most ambitious would be to bury the freeway. This might cost 10X as much, but if anyplace could afford to do it it would be us. Consider having two separate levels 4-6 lanes each traveling in opposite directions. Meanwhile above ground real estate could be sold or developed into mixed use or become a park/greenbelt. Currently the land the freeway is on brings no revenue. If you were able to sell/lease it you could generate a lot of revenue and bring in a lot of tax revenue, which would help finance it.
Lets use a little more creativity folks than just adding another lane.
On Montecitans Debate Exit Strategy
Posted on November 16 at 10:04 a.m.
If you are against Target you are pro-K-Mart etc. Chain stores are here to stay we should embrace the "non-local" local competition.
On On Target
Posted on June 23 at 2:03 p.m.
I am having trouble understanding why she would wait till death to open such a museum. She had the money, had the intention, so why wait? It makes no logical sense, maybe an Estate/Trust Attorney can speak up here.
Also why was the will not amended or updated in the years following 2005? Or after someone noticed the error on the Dr.'s gift? It seems the firms entrusted with an estate this big would have perfect documents drafted at all times.
Also if she wanted to set up a museum why not include her famous doll collection, which seems to have been the love of her life?
(Maybe the accountant, attorney, and nurse have negotiated a deal, as hush money for (speculated) elder abuse incurred by her accountant Irving Kamsler who is a registered sex offender and Attorney Wallace Bock who have both been under investigation by the Manhattan District Attorney's office for possibly mismanaging her affairs?)
East Beach the typo will probably be deemed a scriveners error, but I noticed he is the only 'friend' who is given less than $500,000. In terms of this estate the amount in meaningless, but it will be interesting to see if the Dr. goes after the extra 900,000.
How probate goes, and how the foundation is managed will be quite interesting, this story is not complete.
On Clark Estate to Become Public Art Museum
Posted on March 28 at 12:13 a.m.
@Sezme your right, there may be no such thing as a truly 'free market', I was suggesting by promoting a MORE FREE (rather than less free) market, you and I could have a better chance at protecting the environment directly.
How do you protect the environment Sezme? Do you own any property? Do you produce anything?Do you think things magically appear on the store shelf?Do you pay taxes?
A 'more free' market would have more competition and be able to represent the people much more accurately. My point is that all the property that the state owns provides little use to us, it could better serve the population. Rather than spending billions trying to protect what we can not afford, why not allow people who are concerned about it take responsibility of it and protect it by buying it voluntarily? Why not cut taxes/regulation and allow more good people (maybe like yourself or EZK or Eastbeach who pose as desperate poor folks trapped in a modest apartment by some 'greedy Koch like pig ' landlord) the opportunity to own property? (As far as the externalities go, that is what the justice system is supposed to be for. Someone impacts your property you take them to court.)
If we did this, it would devalue all the property the supposed 'big bad capitalists' or as EastBeach calls 'freemarketers' own and give the 'liberals' (who on this board seem to be the only people who care about the environment, but are too poor to protect it themselves) a better opportunity at owning such land.
It really rubs me the wrong way when people like Sezme Eastbeach and EZK assume that all property owners, business people, or wealthy people are some sort of despicable environment hating villains. This just simply isn't true.
If you want to see what a 'more free market' looks like go to the SB farmers market, it is quite nice, and in fact we could use more farmers markets, and yes more free market promotion.
All three of you should watch The Future of Food and see what a joke of a job the State is doing to protect the environment, our food system, and private property-the state is failing miserably. Then check out what happend at Rawsome in Venice Beach and tell me how the State has our best interests in mind for our safety and that of the environment.
Eastbeach, "Freedom ... for the free market to exploit us!" C'mon the free market is voluntary, not coercive. Your example about internet privacy is pretty funny, you are so concerned about random companies using information you voluntarily provided them, but you naively forget about all the information the State requires of us, which they profit from and they certainly don't give a hoot about you.
On Pimp My Riders
Posted on March 24 at 6:02 p.m.
So the plan is to spend $50 to not carpool, and drive a great distance for lunch when gas is almost at historic highs, in efforts to reduce your carbon footprint...sounds like an idea that came out of Sacramento, or Washington, DC.
On Calling All Santa Barbara Prius Owners
Posted on March 24 at 5:51 p.m.
I like your idea, but I think it would be better to cut the state income tax. That would serve both home owners and non-home owners possibly inspiring them to buy a home with the extra income.
On S. B. Foreclosure Numbers Released
Posted on March 24 at 12:27 p.m.
I do not support Obama's Libya War.
Well folks meet you new leader, same as the old one. Have we learned nothing from Afganistan? Iraq? Even Pulitzer Prize-winning conservative columnist George Will, stated this is a bad idea. This, like our many of our other foreign 'contingencies' is totally unconstitutional.
Obama needs to go, so do many other Democrats and Republicans. US foreign 'defense' presence needs to stop.
It is so sad that so many people came out and supported Obama in 2008, who said he would shut down Guantanamo and end foreign occupations/wars, and now won't call him on his sh1+. Just like the when Bush ran on not being the 'world's police' and non-interventionism and Republicans did not cannibalize him when he expanded the size of government and began to police the world.
Both sides have been betrayed, we need to work together, otherwise next stop Pakistan and Yemen.
On U.S participation in invasion of Libya...