Annie Leibovitz, photographer of stars, faces ruin

Breitbart ^ | August 23, 2009 | unk

[wardaddy]

as one living it as we speak

banks are stingy mofos right now

[Albion Wilde]

Here's today's latest news about the Annie Liebovitz story:

Debts closing in on photographer Annie Leibovitz
$24 Million Debt Due Tomorrow, September 8

I have eliminated the "photography is not art" and "I can take a better shot with my Brownie" respondents to this thread, but tried to ping everyone interested either in her work or the financial implications of her situation.

[theFIRMbss]

>Her financial problems escalated in 2003, during the renovation of her Greenwich Village townhouses. A neighbor sued her for $15 million after a common wall between their buildings was damaged. Leibovitz eventually settled by buying the neighbor's property for $1.9 million

Thank you for the ping.
If that neighbor's check cleared then
they'll probably be

the only people
by the end of this affair
that don't lose money.

[Richard Kimball]

Thanks for the ping.

In addition to her mortgages, court records show that she piled up years of federal, state and city liens and judgments from vendors for unpaid bills - all presumably now satisfied with the $24 million she borrowed. Federal records show that Leibovitz owed a total of $2.1 million in unpaid taxes for tax years 2004, 2006 and 2007. She also had New York state tax liens of $247,980 for six years, including $135,915 in 2007. And she owed New York City several thousand dollars for three years.

Willie Nelson did the same thing. These people make millions and vote for the people who take it all away. The article also noted that she spends money lavishly, and is in these financial straits despite a 2 million salary from Vanity Fair and a $100,000 fee for a portrait sitting.

[Vince Ferrer]

Last year, Leibovitz put up her homes and the copyright to every picture she has ever taken - or will take - as collateral to secure the loan to pay off her mounting debt: unpaid bills, mortgage payments and tax liens, ACG said

She really sold her soul, didn't she?

[Albion Wilde]

"Last year, Leibovitz put up her homes and the copyright to every picture she has ever taken - or will take - as collateral"
She really sold her soul, didn't she?

What was she high on when she made that deal?

[Stand Watch Listen]

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

I believe that any of her copyrighted future work may also be part of the loan asset agreement with ACG.

[wardaddy]

I like Annie Leibovitz’s work and hope she gets a white knight. I know the torches and pitchforks gang here love to watch rich folks suffer...it’s one of FR’s dark themes..populist resentment.

Speilberg, Geffen, Buffet, Gates or the Donald ...someone could bail her out and fix some sort of equitable resolution for all parties.

The banks won’t. Banks are meaner than a menopausal virgin at a Moose Lodge bonfire about right now.

[Albion Wilde]

Speilberg, Geffen, Buffet, Gates or the Donald ...someone could bail her out and fix some sort of equitable resolution for all parties.

You'd think Jan Wenner of Rolling Stone or Graydon Carter of Vanity Fair... but who knows what tensions with them came from not paying suppliers for their cover shots came before this crisis.

From the sound of things, she needs to lose a lot in order to set her house in order. Maybe even the rights to a large part of her catalog. But not the future of her work. That's Dickensian. I guess ultra-shrewd dealings are the coin of the realm up there in the east-coast capital of American liberalism.

Maybe she could compete on The Apprentice....

[theFIRMbss]

>I like Annie Leibovitz’s work and hope she gets a white knight...someone could bail her out and fix some sort of equitable resolution

If I remember,
one of the reasons Baldwin
married Basinger

was because she'd made
such a mess of her money
and her business life.

That whole "white knight" thing
didn't work out for Alec.
My experience

(limited, thank God)
is that "troubled" women need
a whole Round Table...

[SIDENET]

That could be a problem.

[stephenjohnbanker]

“The banks won’t. Banks are meaner than a menopausal virgin at a Moose Lodge bonfire about right now.”

SJB trying to visualize..........

[Night Hides Not]

Keith would have been better off going to Glamour Shots.

[stephenjohnbanker]

“Speilberg, Geffen, Buffet, Gates or the Donald ...someone could bail her out and fix some sort of equitable resolution for all parties.”

If the deal was salvageable, one of these fellows(or someone of their ilk) would have come forward. Not Buffet though. He is in strict shylock mode.

[Albion Wilde]

Today was Annie Leibovitz's deadline. Here is an update:

http://artsbeat.blogs.nytimes.com/2009/09/08/annie-leibovitz-faces-a-loan-deadline/?hp