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Annie Leibovitz, photographer of stars, faces ruin
Breitbart ^ | August 23, 2009 | unk

Posted on 08/23/2009 9:09:22 AM PDT by OldCorps

Annie Leibovitz is as famous as the people she photographs but now the genius behind the lens is close to financial ruin -- a victim, some say, of her own relentless artistic ambition. Among the qualities making Leibovitz, 59, the most sought after portrait photographer in the world are legendary perfectionism and the pouring of resources into lavish sets. Over the course of her long career, nothing has been too extreme in Leibovitz's pursuit of the perfect picture. She put former action icon and current California Governor Arnold Schwarzenegger on top of a mountain, submerged black actress Whoopi Goldberg in a bath of milk and closed France's Versailles palace to shoot Kirsten Dunst posing as Marie-Antoinette. Circus animals, fire, airplanes -- she was rarely denied a requested prop, however seemingly outrageous.

A debt is due September 8 and if she can't pay up, she could lose her life's work. ACG, which specializes in making loans to owners of high value art works, is unlikely to adopt a soft line. Leibovitz must "comply with the sales agreement she signed authorizing Art Capital to sell the fine art and real estate assets and to pay the invoices that are due," ACG spokesman Montieth Illingworth said in a statement. The over-leveraged photographer not only risks losing her photo archives, which The New York Times estimates could be worth 50 million dollars, but also her house in the trendy Greenwich Village district of Manhattan and a second home outside the city. If she is forced to declare bankruptcy, it will then be up to the courts to decide how to distribute the assets. Banking giant Goldman Sachs entered the fray this week with a claim to own part of Leibovitz's debt. ACG disputes that, but says Goldman Sachs could ...

(Excerpt) Read more at breitbart.com ...


TOPICS: Culture/Society; News/Current Events
KEYWORDS: art; celebrity; clueless; hippie; leftists; millionaires
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LOL,these people take themselves seriously.
1 posted on 08/23/2009 9:09:23 AM PDT by OldCorps
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To: OldCorps

Amazing how the socialists value their own money but not ours.


2 posted on 08/23/2009 9:10:31 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: OldCorps

If her work is worth that much then she should sell it and pay her debts.


3 posted on 08/23/2009 9:11:15 AM PDT by linn37 ( "The problem with socialism is that you eventually run out of other peoples money.)
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To: OldCorps

Odds she voted for Obama: 79%


4 posted on 08/23/2009 9:12:19 AM PDT by Cringing Negativism Network (PALIN / HANNITY 2012.)
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To: OldCorps

I’ve always heard, to be a great artist, one must suffer. So this sounds like it could really help her in the creativity department


5 posted on 08/23/2009 9:12:47 AM PDT by Krankor
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To: OldCorps

Is this a reprint? I swear I read this same article several months ago.


6 posted on 08/23/2009 9:13:06 AM PDT by DManA
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To: OldCorps

Good for her.
Maybe she can live within her finances like the rest of us.


7 posted on 08/23/2009 9:13:23 AM PDT by ▀udda▀udd (7 days - 7 ways Guero >>> with a floating, shifting, ever changing persona.....)
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To: Cringing Negativism Network

Um, no.

99.9999999999999999999999999998%

I have read things she has said before...


8 posted on 08/23/2009 9:13:52 AM PDT by rlmorel ("The Road to Serfdom" by F.A.Hayek - Read it...today.)
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To: OldCorps
The over-leveraged photographer not only risks losing her photo archives, which The New York Times estimates could be worth 50 million dollars, but also her house in the trendy Greenwich Village district of Manhattan and a second home outside the city.

Boo hoo.

So take some more damn pictures and earn some more cash.


9 posted on 08/23/2009 9:14:43 AM PDT by SIDENET ("If that's your best, your best won't do." -Dee Snider)
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To: OldCorps

I have great difficulty conjuring up empathy for millionaires who cant manage their money.


10 posted on 08/23/2009 9:15:28 AM PDT by kdot
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To: Cringing Negativism Network
I'd put the odds that she voted for Obama at 95%. (The other 5% is that she didn't vote at all, not that she voted for McCain.)
11 posted on 08/23/2009 9:16:20 AM PDT by utahagen
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To: Cringing Negativism Network

She’s a leftist lesbian in the art/entertainment business and lives in Greenwich Village in NYC. Odds she voted for Obama are 100%.


12 posted on 08/23/2009 9:16:53 AM PDT by Aria ( "The US republic will endure until Congress discovers it can bribe the public with the people's $.")
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To: Aria
Odds she voted for Obama are 100%.

Hell, she probably voted for him twice.

13 posted on 08/23/2009 9:17:57 AM PDT by SIDENET ("If that's your best, your best won't do." -Dee Snider)
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To: Cringing Negativism Network

even greater

not just Jewish (79%) but also a lesbican

her vaguely committed lover Susan Sontag died recently and left her out completely so they say

throw in the fact she also lived in Manhattan

so Jewish, Lesbian and Manhattan dweller and artist...that pretty much means “progressivism” is in yer DNA


14 posted on 08/23/2009 9:18:53 AM PDT by wardaddy
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To: OldCorps

news article say she owes 24M

she ain’t broke she is just cash poor if she has 50M in assets


15 posted on 08/23/2009 9:19:46 AM PDT by wardaddy
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To: Cringing Negativism Network
Odds she voted for Obama: 79%

Odds she voted for Obama: 79% 99.999%

16 posted on 08/23/2009 9:21:09 AM PDT by angkor (The U.S. Congress is at war with America.)
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To: Cringing Negativism Network

“Odds she voted for Obama: 79%”

No sense of proportion. Check.
No ability to handle money. Check.
No real ability to do anything useful save for letting those with money spend it on her. Check.

Yup, she’s a lib.


17 posted on 08/23/2009 9:23:13 AM PDT by Da Coyote
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To: Aria

I believe she took a photo of herself voting for Obama.


18 posted on 08/23/2009 9:23:30 AM PDT by Krankor
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To: OldCorps

Too bad, so sad. Let the Obamite beg for some stimulus money — maybe The One will help her out.


19 posted on 08/23/2009 9:24:42 AM PDT by Polyxene (America held hostage for the next 4 years by a RAT thug from Chicago - www.obamaclock.org)
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To: Aria

http://www.youtube.com/watch?v=-9SPdh4Nzy4&feature=channel_page

(the voter Obama voter who eventually concludes “what have we done?...”)

H/t to newbie “past_present”, funny video.


20 posted on 08/23/2009 9:25:11 AM PDT by Cringing Negativism Network (PALIN / HANNITY 2012.)
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To: SIDENET
but also her house in the trendy Greenwich Village district of Manhattan and a second home outside the city.

OMG! She may have to move to Greenpoint or Astoria! Perish the thought (and the fact that she will be another pretentious artiste pouring into said neighborhoods).

21 posted on 08/23/2009 9:25:53 AM PDT by Clemenza (Remember our Korean War Veterans)
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To: OldCorps

You should see the great pictures of my kids I took out in the front yard.


22 posted on 08/23/2009 9:26:41 AM PDT by Lancey Howard
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To: Cringing Negativism Network
Odds she voted for Obama: 79%

Aside from the nitpicking observation that odds are specified as a ratio of favorable to unfavorable outcomes (e.g., "5-8 against"), the probability that she voted for 0bama exceeds 100%.

23 posted on 08/23/2009 9:26:56 AM PDT by Lonesome in Massachussets (Don't anthropomorphize the robots. They hate that.)
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To: SIDENET

Excellent graphic! LOL


24 posted on 08/23/2009 9:26:57 AM PDT by canuck_conservative
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To: OldCorps
Sounds like New York's trendy, Greenwich Village, liberal lesbian Vogue, Rolling Stone and New York Magazine commoooonity needs to come to her aid, have a benefit for her and distribute her works among themselves.

Don't count on it.

25 posted on 08/23/2009 9:28:32 AM PDT by Albion Wilde ("A cultural problem cannot be solved with a political solution." -- Selwyn Duke)
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To: Cringing Negativism Network

I saw that...pretty funny!


26 posted on 08/23/2009 9:28:50 AM PDT by Aria ( "The US republic will endure until Congress discovers it can bribe the public with the people's $.")
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To: OldCorps
btw....to her credit...her photo-portraits are actually very very good


27 posted on 08/23/2009 9:29:30 AM PDT by wardaddy
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To: Cringing Negativism Network

omg, hilarious


28 posted on 08/23/2009 9:29:34 AM PDT by EDINVA (A government that robs Peter to pay Paul can always depend on the support of Paul -- G. B. Shaw)
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To: linn37

She did those photos of Miley Cyrus, so she may claim to be a victim of right wingers.....


29 posted on 08/23/2009 9:29:45 AM PDT by Loud Mime (...and THEY thought Bush was stupid - - - barastikas = Obama's logos)
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To: Republicanprofessor; Sam Cree; Liz; woofie; neverdem; The Mayor

New York artist ping


30 posted on 08/23/2009 9:30:39 AM PDT by Albion Wilde ("A cultural problem cannot be solved with a political solution." -- Selwyn Duke)
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To: Cringing Negativism Network

Is there a version in English?


31 posted on 08/23/2009 9:31:03 AM PDT by Loud Mime (...and THEY thought Bush was stupid - - - barastikas = Obama's logos)
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To: SIDENET
So take some more damn pictures and earn some more cash.

My daughter's getting married soon. Does she have any references?

32 posted on 08/23/2009 9:31:28 AM PDT by Lonesome in Massachussets (Don't anthropomorphize the robots. They hate that.)
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To: Lonesome in Massachussets

You are cold!


33 posted on 08/23/2009 9:33:47 AM PDT by _Jim
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To: OldCorps
Did Golman come in to help is the Million Dollar question, given she is a big NY Lib known by everybody.

She is also that "artist" that did that over the edge (IMHO) of Miley Cyrus.

Oh well, in terms of lower cost housing, and an up and coming place for those liberal on the edge trying to do something edgy like living in a loft of an old factory, she can always look to Detroit....

34 posted on 08/23/2009 9:35:34 AM PDT by taildragger (Palin / Mulally 2012)
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To: wardaddy

And they say that zombies don’t exist.


35 posted on 08/23/2009 9:36:41 AM PDT by SIDENET ("If that's your best, your best won't do." -Dee Snider)
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To: wardaddy

I didn’t know Joan Rivers played guitar? Or is that Nancy Pelosi before her shots?


36 posted on 08/23/2009 9:37:33 AM PDT by taildragger (Palin / Mulally 2012)
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To: Lancey Howard

>>You should see the great pictures of my kids I took out in the front yard.<<

Amen!


37 posted on 08/23/2009 9:39:11 AM PDT by netmilsmom (Psalm 109:8 - Let his days be few; and let another take his office)
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To: wardaddy

So are mine.
And I don’t over spend my money and whine when my house loses 100,000 in value.


38 posted on 08/23/2009 9:40:39 AM PDT by netmilsmom (Psalm 109:8 - Let his days be few; and let another take his office)
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To: OldCorps
Speaking as someone who worked in the arts for many years, hired many photographers for projects and always loved and admired her work (she is perhaps the first woman commercial photographer to achieve this fame as a portraitist), I am sorry for this collapse. She did much to promote the entertainment culture that has proved ruinous for our culture; but her crafts"man"ship is impeccable. Perhaps she can come to understand life for the rest of us through this incident. I am thinking now of the haunting Depression-era candid photography of Dorothea Lange.

Leibowitz's politics and feminism have hurt her in the long run, it seems; since a good left-brained, hard-nosed male accountant or business manager with a conservative investment strategy could have helped her. It would be tragic to see this life's work strewn about. I hope some NY museum curators are trying to work out a plan; but everybody is strapped these days.

Migrant mother by Dorothea Lange, 1938.........Schwartzenegger by Annie Leibowitz, 1988

39 posted on 08/23/2009 9:44:20 AM PDT by Albion Wilde ("A cultural problem cannot be solved with a political solution." -- Selwyn Duke)
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To: Lonesome in Massachussets
My daughter's getting married soon. Does she have any references?

She took pictures of Whoopi Goldberg in a bath of milk.

(retching)


40 posted on 08/23/2009 9:44:38 AM PDT by SIDENET ("If that's your best, your best won't do." -Dee Snider)
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To: Cringing Negativism Network

http://www.youtube.com/watch?v=-9SPdh4Nzy4&feature=channel_page

Is it too late to vote for the white guy?

Yes, but not to late to get a job and work hard . . . which isn’t going to happen to the socialist minded who just want things “changed around.”


41 posted on 08/23/2009 9:45:02 AM PDT by HighlyOpinionated (At Thermopylae, 1 Million Persians lost 20 Thousand yet failed to disarm 300 Spartans. Molon Labe!)
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To: OldCorps

S-L-O-W.....N-E-W-S..... D-A-Y


42 posted on 08/23/2009 9:45:36 AM PDT by org.whodat (Vote: Chuck De Vore in 2012.)
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To: wardaddy

Who is the taxidermist?


43 posted on 08/23/2009 9:48:36 AM PDT by Apercu ("A man's character is his fate" - Heraclitus)
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To: linn37
If her work is worth that much then she should sell it and pay her debts.

She pawned it last year to the high end pawn broker Art Capital Group. They will sell it to recoup their loan. So she has lost it all already.

I am somewhat sympathetic to her. Yes, she should have learned how to run a business, or gotten someone that did to be a partner, but I do have sympathy for an artist who built up a lifetime of work and then is losing it. It isn't just jet skis or a BMW that she has lost.

44 posted on 08/23/2009 9:53:22 AM PDT by Vince Ferrer
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To: wardaddy

I agree she does very good work.

There should be no problem selling some of her work and getting her money problems solved.


45 posted on 08/23/2009 9:53:30 AM PDT by ridesthemiles
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To: Cringing Negativism Network

I think you must have transposed your numbers. I’m sure you meant the odds are 97%. The 3% being that perhaps she was not feeling well that day and didn’t make to the polls.


46 posted on 08/23/2009 9:57:28 AM PDT by marlon (Does anyone know the procedure for impeachment of a teleprompter?)
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To: DManA

The original article was when she took out the loan, using her portfolio as collateral. This article is about the loan coming due, and losing her collateral.

BTW, the stuff about her financial problems being due to her professionalism and extravagant sets is all hype. The people commissioning the shots pay for that, or should have. She had several homes, none in the low rent district, and lived a pretty extravagant life for a photographer. There’s not THAT much money in the business. She was also part of the Arts and Sausages crowd and commanded top dollar for her trade.

I suspect that her lesbian lover, Susan Sontag, probably handled the finances. Sontag died in 2005, so four years is about long enough for the financial train wreck to hit.
Combine that with the current recession, where magazines are no longer willing to pay five figures for a cover, and you’ve got a recipe for disaster.


47 posted on 08/23/2009 9:58:52 AM PDT by Richard Kimball (We're all criminals. They just haven't figured out what some of us have done yet.)
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To: OldCorps
Bankrupt @ Yahoo! Video
48 posted on 08/23/2009 10:02:59 AM PDT by Krankor
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To: wardaddy

Her pics are only worth what someone will pay for them. I seriously doubt in the current recession that anyone would buy them at less than a fire sale price, particularly since they know she’s in financial straits.
Maybe a Spielberg would bail her out, but she’d still lose control of the photos.


49 posted on 08/23/2009 10:04:26 AM PDT by Richard Kimball (We're all criminals. They just haven't figured out what some of us have done yet.)
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To: OldCorps

I always thought she was overrated. She wasn’t Cecil Beaton!
Well she can get some of her rich friends to put her up.


50 posted on 08/23/2009 10:05:34 AM PDT by Captain Peter Blood
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