Skip to comments.Wealthy CEO torments ex-wife (Staples founderís ex-wife: Iíll be out on the street)
Posted on 10/23/2012 9:37:05 PM PDT by Perdogg
Maureen Sullivan Stemberg, ex-wife of Staples founder, sits in her $5,200 a month, 14th-floor, concierge-at-the-door, elegantly furnished Back Bay apartment and tells you shes broke. She cant work. She cant afford a car, her medications, her rent, even the family springer spaniel, J.J., who she just gave away.
She produces doctors notes detailing medical woes: possible lupus, bouts of pneumonia requiring hospitalizations, a history of cancer, petit mal seizures, plus recommendations for thrice weekly psychotherapy and psychiatry. She says her insurance wont cover mental health care.
Im going to be out on the street, says Sullivan Stemberg, a tiny, 50-ish woman who alternates between an overanxious recitation of worries, and tears. Ive had a change of circumstances.
(Excerpt) Read more at forum.purseblog.com ...
financial history of staples in 1988its outlook was risky..
"She got 4 million in the divorce settlement and blew it on lawyers trying to get more. Sorry. No sympathy."
House of Horrors? LOL
Give me a break. I know nothing of the marriage nor do I care to. But she hardly seems like she was an innocent bystander. It’s been 25 years, she got millions, she got stock. She foolishsly sold the stock losing out on more millions then spends 4 million trying to sue the ex over the course of several decades because he should have to pay for her mistakes? No, thank you. He had a responsibility to care for the son who is now an adult. She has a responsibility to take care of herself and not stalk her ex in court.
I sincerely doubt God and the sanctity of marriage entered either of their heads.
None of this is relevant to the election. My takeaway is that Obama must be sinking in Ohio to pull something this weak.
Lawyers are happy, though.
You nailed it! Even a more modest annual ROI of 5% would have given her $200,000 a year to live on. However if she is a greedy idiot, more than likely receiving bad advice from her family & so-called friends & lawyers, the $4M wasn't enough, she wanted more & more & more. Serves her right.
In my big "D" 2 years ago, that was my biggest concern that my ex-wife was just out to maximize her gain from the divorce instead of a 50/50 split. Fortunately my lawyer convinced her lawyer who in turn convinced my ex, that 50/50 was going to be it and that was it. She ended up with $285K, so I don't think she is hurting too badly.
if they unseal these court records then someone needs to file suit for obamas harvard records go ahead liberal mass whats good for the goose is good for the gander
She blew through 4 mill on lawyers trying to get more....what a moron. These are the types of women that men (and women) truly hate. They are spoiled little whiny girls who couldn’t pump their own gas if their life depended upon it.
I do not see how any of this should be unsealed...particularly anything Romney said or didn’t say. I really don’t friggin give a hoot
The difference here is that O got RYAN’s divorce papers unsealed ( and that was such a slimy thing by the so called legal system in Chicago considering neither spouse wanted it done). I do not see how this can possibly hurt Romney. Ryan’s case got fast tracked because of an election. There is nothing here to justify a fast track on anything. PLUS there is no way to justify this now
That $4 million, held in Staples stock that opened at 77 cents a share in 1980 would have been worth $134 million in April, 2010. $59 million today. Not including 30-odd years of dividends. Cry me a river.
Definitely a slanted view point...Just ask any Facebook holder how well that IPO went. The lady had 500,000 shares of stock. If she chose to sell them early that’s her fault. Nothing in this article convinces me that there is a there there.
Bigger question...No matter what Allred spews out will that change the NEED to get rid of O???
And what does any of that have to do with Romney? He wasn’t married to her. He didn’t divorce her. Are you telling me that anything in any of this leads you to vote for O??? There is no tough audience here. 4 million bucks properly invested would have provided this woman with all the money should would ever need.
You are being naive. Since when is divorce always the man’s fault. AS I recall relationships take two people to make or break. You weren’t there and you have NO information as to what their house was like.
Save your judgements for important things. You are clearly off base with your assumptions.
NO divorce is one sided.... ever. Each party bears responsibility.
It is just possible that she made HIS house one of horrors
Or she could end up renting a room and having to actually work to have any money at all
Thanks for the link...very interesting. And yes, it appears Staples was struggling.
follow the money.
how much was she paid to play this desperate game.
4 million bucks would last a lifetime for anyone but an idiot.
Good grief. She should have been happy to have gotten rid of him if he was such an evil person. Attorneys and psychotherapists found another sucker. Sometimes life hands you lemons. Most of the time they don’t come with a bank account worth $5M.
A lot of women end up in much worse situations, physically and financially, and do learn to deal with it.
She got 500,000 Staple stocks as settlement when they divorced. She got rid of them not long after. Obviously nobody forced her to sell the stocks at the lower rate, but she did it because she wanted to get her hands on the money. I have no sympathy for her either. Had she held onto the stocks, she would have made a bunch of money. Her stupidity, but for over 20 years she been trying to blame someone else. Typical lib.
I don't see why the records should be unsealed either. We're not talking about a murder trial here. It's only a lousy divorce from 25 years ago.
I believe I read somewhere in one of the articles, that Tom Stemberg was married to someone else prior to being married to Maureen, and that he’d left Maureen to go live with his pregnant girlfriend. More than likely she was the “other woman” in that first marriage, and has been holding a pity party for herself all these years because she found herself in the same position as the first Mrs. Stemberg. As a female, I’m not cutting Stemberg any slack for his shenanigans, but what goes around, comes around.
Look divorce happens. She needs to pick her self up and go on. I got divorced , got no settlement, my husband took the house I got nothing but I do have 2 children and I am remarried and guess what I survived living in a studio apartment. I do not feel sorry for this woman. You can not dwell in the past just forgive and move on. This woman
is willing to take out people because she thinks she is entitled.
She’s too sick to work and threw her money away on lawyers. This is somehow Romney’s fault. She lives in Massachusetts and all of her many health concerns are no problem because she is covered by romneycare. This too is Romney’s fault.
Obamacare is based on romneycare; is this what we all can expect is we somehow accumulate this romans collection of health woes?
“...by somehow forcing Mittens out of the race,...”
Are you saying you think something like this (not what happened to Ryan in Ill.) would cause Romney or any candidate to quit?
Interesting. Do you know how soon after the settlement Staples went public for how much?
If its damaging enough, it would deal a fatal blow to a challenger.
Let’s face it: Obama can’t win on anything positive so the only way he could win is if he could get Romney to self-destruct.
He and his Chicago thugs have perfected the art of removing threatening rivals before Election Day.
I'd like to find one of those.
Got any suggestions?
If you get four million....the lawyers usually get a cut right off the top of $1.5 million, before you even get to taxes. So she got $750k at best in the end. A normal person who moves out to Mississippi....could live off that for the rest of their life. She couldn’t.
Psychotherapy 3 times a week????? ..think I’ll side with the ex husband on this one- she is a flake!!!. Oh, and funny how the globe will go to court to unseal some poor schmucks divorce files but can’t seem to bother to locate one lousy school record of the guy occupying the White House.
There are a lot of those.
By my reckoning, that should still give her an annual income of around $100,000 even with mediocre investment. I guess that might not go so far when your spend $62,000 of it on fancy digs.
And the divorce was 20 years ago.
It's been 25 years since 1987, but only the wife is counting, apparently the writer can't do their ciphers and their naught, naughts.
As it would an incumbent. But your alarmism is fatalistic in the extreme since this is nothing new and in fact has been around for years and years. My understanding is Romney was called as a witness in the business end of the trial i.e. the value of the stock included in the settlement and he was in no way (as some have insinuated) involved with the wife in any sort of relationship. Had that been the case it would have been brought out long, long before this in fact years ago when it was a story in the 1980's. In a divorce involving relatively big money like this one there is always a dispute as to the actual value of the assets to be divided. If the award to the wife was % million and it was to be in the form of stock and cash, etc it would play to the benefit of the husband to value the per share price high so he would have to turn loose less shares to make up the amount he had to give his ex. It appears Romney's testimony involved what the actual value of the stock was which in the end was an opinion all be it an informed one given Romney's area of expertise. In the end what ever gets released if anything will be testimony and all of that is open to interpretation and people are known to lie and lie badly in emotionally heated cases such as a divorce. Alred is known to a great many people across the country and her modus operandi is obvious and my feeling is way more than enough people will see this as exactly what it is, a blatant attempt to influence a national election for a Democrat.
I don’t believe there are taxes paid on cash settlements in a divorce. My daughter was divoced a few years ago and as part of the settlement she received $1,250,000 in cash plus alimony and child support. Alimoney and child support are taxable while the cash settlement was not either at the Federal or State level.
Her lawyer got paid about $125,000 based on his billing rate of $650 per hour.
Where do you find that these days?
This isn't some hot, high risk fund. It is a vanilla low risk fund which has been around for ages.
Just think what ROI that 4 mil would have gotten in the market....
with 4 million you could find something that returned 10%. probably not with what you or i have to invest.
April of 1989 was the initial public offering. I know that they made $37 million off that first offering but don’t know what shares cost.
There’s a lot of pension funds out there with orders-of-magnitude more than $4 million to invest, and they’re blowing-up because they can’t make the 8% their projections are based on.
Perhaps, but there are other things besides pension funds that were, for millions to invest, advertising those rates of return. Besides, my main point was she could have invested it and probably found an interest rate that easily gave her enough to live off of without having to touch principal. We’re getting off track from the main point.