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BUSINESS
July 18, 2012 | By Tiffany Hsu
The Walton family, heirs to the founders of the Wal-Mart Stores Inc. superchain, are worth nearly as much as the bottom half of American households combined. The Waltons' value -- $89.5 billion in 2010 - is equal to the worth of the 41.5% of families at the lower end of the income ladder, according to an analysis by Josh Bivens of the Economic Policy Institute. That comes out to 48.8 million households. And as the mid-point of family net worth fell 38.8% in the U.S. between 2007 and 2010 to $77,300, the Waltons' fortune grew an inflation-adjusted $16.2 billion.
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ENTERTAINMENT
March 28, 2014 | By Mike Boehm
The son of infamous German art dealer Hildebrand Gurlitt, who helped Adolf Hitler hoard art looted from Jews during the Holocaust, says he's now willing to return works his father had acquired to the heirs of their victimized owners. Attorney Christoph Edel, a court-appointed legal guardian for the 81-year-old Cornelius Gurlitt, issued a statement on Gurlitt's website this week saying that Gurlitt has told him, “if the works…should be justifiably suspected of being Nazi-looted art, please give them back to their Jewish owners.” Added Edel: “Let there be no doubt that we will comply with the instructions of our client.” It's a stronger commitment than Gurlitt previously had made.
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ENTERTAINMENT
April 19, 2012 | By David Ng
U.S. officials this week turned over a nearly 500-year-old Italian painting that had been stolen during World War II to the descendants of its Jewish owner. The painting, titled "Christ Carrying the Cross Dragged By A Rascal," was created by Italian artist Girolamo Romani around 1538. The painting was confiscated by U.S. officials in 2011 while it was on loan to the Mary Brogan Museum of Art and Science in Tallahassee, Fla. The work of art had resided at the Pinacoteca di Brera museum in Milan, Italy.
CALIFORNIA | LOCAL
March 18, 2014 | By Elaine Woo
Rachel "Bunny" Mellon, a philanthropist, art patron and self-taught horticulturalist whose generous support of presidential candidate John Edwards drew her into the political scandal that ended his career, died Monday at her estate in Upperville, Va. She was 103. She died of natural causes, said her longtime friend and attorney, Alexander D. Forger. Mellon, a Listerine heiress who married banking scion Paul Mellon, lived quietly on a 2,000-acre Virginia farm, where her fabled guests included John and Jacqueline Kennedy and two generations of British royalty.
BUSINESS
May 4, 2012 | Bloomberg
Burberry Group and heirs of Humphrey Bogart are suing each other over an image of the late actor wearing a Burberry trench coat in the film "Casablanca. " Burberry asked a federal court to declare that its use of Bogart's name and image in social media doesn't infringe Bogart Corp.'s trademark rights or rights of publicity, it said in a complaint filed Wednesday in New York. Bogart, which is majority owned by Bogart's children, followed that action by filing a trademark-infringement complaint Wednesday in Los Angeles.
NATIONAL
July 16, 2010 | By Lisa Mascaro, Tribune Washington Bureau
If you're rich, 2010 is a great year to die. This is the year that Congress has allowed the estate tax to lapse, allowing heirs to receive their windfalls without Uncle Sam taking a cut for the first time in nearly 100 years. A reminder came this week with the passing of billionaire New York Yankees owner George Steinbrenner. The baseball titan's heirs are likely to escape about $500 million in taxes, experts estimate, a fortune that has spotlighted Bush-era tax policies and the long debate over whether government spending or tax cutting is best for a shaky economy.
NATIONAL
December 11, 2008 | TIMES WIRE REPORTS
Princeton University will pay nearly $100 million but maintain control of a much-larger endowment that supports its school of public affairs, under a settlement between the school and disgruntled heirs of a major donor. The 6-year-old case pitted heirs of Charles and Marie Robertson, who held the A&P grocery fortune, against the university. In dispute was a 1961 gift of $35 million, which grew to $900 million, to support Princeton's Woodrow Wilson School of Public and International Affairs.
ENTERTAINMENT
March 28, 2014 | By Mike Boehm
The son of infamous German art dealer Hildebrand Gurlitt, who helped Adolf Hitler hoard art looted from Jews during the Holocaust, says he's now willing to return works his father had acquired to the heirs of their victimized owners. Attorney Christoph Edel, a court-appointed legal guardian for the 81-year-old Cornelius Gurlitt, issued a statement on Gurlitt's website this week saying that Gurlitt has told him, “if the works…should be justifiably suspected of being Nazi-looted art, please give them back to their Jewish owners.” Added Edel: “Let there be no doubt that we will comply with the instructions of our client.” It's a stronger commitment than Gurlitt previously had made.
ENTERTAINMENT
July 29, 2010 | By Jori Finkel, Los Angeles Times
The heirs of the Budapest-based Jewish banker Mor Lipot Herzog have filed a lawsuit in U.S. courts against Hungary and its leading national museums, seeking the return of what they have identified as more than 40 works of art looted from Herzog's collection during the Holocaust. The lawsuit values the artworks, including well-known paintings by Lucas Cranach the Elder, El Greco, Francisco de Zurbaran and Gustave Courbet, at more than $100 million. "This is one of the largest — if not the largest — restitution claims ever filed in U.S. courts by a single family against another nation," says Michael S. Shuster, the New York attorney representing the family.
ENTERTAINMENT
September 25, 2007 | From Bloomberg News
The German city of Hanover returned a painting by Lovis Corinth to the heirs of a Jewish collector who sold it in 1933 to fund his escape from the Nazis, the mayor's office said. The painting, "Romische Campagna" ("Roman Landscape"), dating from 1914, was handed Monday to Curt Glaser's heirs, represented by his niece, who lives in the U.S., and her daughter, according to Hanover's website. The painting is valued by insurers at $620,000, the Hanover statement said.
BUSINESS
January 23, 2014 | By E. Scott Reckard, James Barragan and Ken Bensinger
Donald and Nina Lewis spent $30,000 fixing up their retirement haven, an abandoned house they purchased in 2009 near Edwards Air Force Base. All seemed normal until a year ago, when a sheriff's deputy came knocking. He told them the home sale had been fraudulent and showed photos of a female suspect. The couple had never seen the woman, but they've spent each day since in fear of losing their house. "We have no idea what's going to happen," Lewis said. The couple is awaiting the outcome of a housing fraud investigation alleging the theft of at least 18 homes across California.
CALIFORNIA | LOCAL
December 22, 2013 | Steve Chawkins
When Edgar M. Bronfman Sr. heard that the pope had honored Kurt Waldheim, the Austrian president he had exposed as an ex-Nazi complicit in war crimes, he fired off a note to the Vatican. Pope John Paul II making Waldheim a papal knight was "like giving a rotten structure a fresh coat of paint," the billionaire head of the World Jewish Congress wrote with his customary directness. He received no reply to his 1987 letter - but the same blunt approach helped him persuade the Soviets to allow Jewish emigration and the Swiss to acknowledge that their banks had swallowed up the life savings deposited by Holocaust victims.
BUSINESS
October 27, 2013 | By Donie Vanitzian
Question: Last year a reclusive relative, who owned and lived in a condominium, died. Still grieving over his death, the family tried to get organized in dealing with his belongings and the life he left behind. It was overwhelming, but his mortgage was paid off decades ago so our family assumed we didn't have to worry about the condominium because the bank couldn't take it. We learned too late, the reason he wasn't receiving any mail was someone with an illegible signature had put in a forwarding order sending his mail into the ether.
WORLD
October 23, 2013 | By Janet Stobart
LONDON -- Prince George, heir to the British throne, was christened Wednesday in a private ceremony attended by four generations of the royal family and a small group of family and friends. The short private service for the 3-month-old prince was conducted in the 16th century St. James's Palace chapel by Justin Welby, the archbishop of Canterbury. Queen Elizabeth II, looking like a delighted great-grandmother, was smiling and wearing a light blue ensemble with a wide-brimmed blue hat. She was accompanied by her husband, Prince Philip.
CALIFORNIA | LOCAL
October 14, 2013 | By Steve Chawkins
Agent Roger Richman had a ton of celebrity clients - James Cagney, Mae West, Maria Callas, Albert Einstein, the Marx brothers, Sigmund Freud, Gypsy Rose Lee and W.C. Fields, to name a few. Contrary to expectations, none of them were overly demanding. "I don't have people calling me in the middle of the night saying there aren't enough red M&Ms in the Green Room," he told The Times in a 2001 interview. The reason was simple: By the time he began advocating for them, they were long dead.
AUTOS
September 30, 2013 | By Jerry Hirsch
Closing arguments in a $20-million lawsuit against Toyota Motor Corp. started Monday with attorneys painting widely different portraits of a horrific 2009 wreck that killed an Upland woman. A Los Angeles County Superior Court jury will decide whether Toyota was negligent by not including a particular safety device on Noriko Uno's 2006 Camry, or whether the crash resulted from her poor driving. Uno's car sped to 100 mph before hitting a telephone pole and a tree. The case, expected to go to the jury Tuesday afternoon, will set the direction for hundreds of similar lawsuits against the automaker over incidents of unintended acceleration.
ENTERTAINMENT
October 11, 2009
Ironic and typical that a story about unsung artist Jack Kirby ["A Credit to His Name," Sept. 27] would be accompanied by a photo of Stan Lee, his more-famous co-creator of many of the most recognized Marvel comic book characters that are now worth billions to Disney. While Lee is, in my opinion, the Mastermind of the entire Marvel Universe, Jack Kirby, his most prolific artist, was essential to the success of the company by conceiving and designing characters, devising multi-issue story lines, creating the visual style followed by other staff artists and pushing the creative boundaries of the entire medium.
ENTERTAINMENT
June 6, 2009 | Bloomberg News
The City Council in Linz, Austria, has voted to return a Gustav Klimt picture worth about $15 million to the heirs of a Holocaust victim after new evidence indicated that the portrait was looted by the Nazis. The painting, which hangs in the city's Lentos Art Museum, is of Ria Munk. On the basis of new research, Mayor Franz Dobusch recommended that the painting be returned to the heirs of Ria Munk's mother, Aranka, who commissioned the portrait after Ria's death. Austria was forced to relinquish five Klimt paintings in 2006 after a court ordered their return to Maria Altmann of Los Angeles.
ENTERTAINMENT
August 3, 2013 | By Nardine Saad
Prince William and his wife Catherine have officially registered their nearly 3-week-old son, Prince George Alexander Louis. Our favorite part of the form ? His parents' occupations. Wills, 31, is listed as "Prince of the United Kingdom," rather than Royal Air Force helicopter pilot, and Kate, also 31, is listed "Princess of the United Kingdom. " Tony job descriptions, no? Ordinarily, parents have to go to the registrar's office within 42 days of their child's birth. But Georgie is no ordinary baby.
ENTERTAINMENT
April 19, 2013 | By Jori Finkel
The heirs of the Budapest-based Jewish banker Baron Mor Lipot Herzog have cleared a major legal hurdle in their decades-long quest to force Hungary to return dozens of artworks from Herzog's collection that were looted during World War II. In 2010, Herzog's great-grandson David de Csepel of Altadena led his family in suing Hungary and three of its museums for the return of more than 40 artworks valued at $100 million, including masterpieces by...
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