Annie Leibovitz financial mess

[Kym]

http://www.news.com.au/business/brea...-1225850415305

PHOTOGRAPHER Annie Leibovitz is facing new accusations of baulking at bills, less than a month after she struck a deal intended to resolve financial problems that had risked her rights to some of pop culture's most famous images.

Investment firm Brunswick Capital Partners LP said in a lawsuit filed on Friday that Leibovitz owes more than $868,715 in fees for its help arranging her recent financing agreement with another firm, Colony Capital LLC. Through a spokesman, Leibovitz declined to comment today.

A bit sad really.

[MarkW]

No this is disgusting that a firm has charged more than $800K to help arrange somebody's finances once they got into debt - the image of a vulture comes to mind

[arthurking83]

That turn out to be approximately a 3.5% cut on the money that they refinanced.

She was desperately up against it with the other mod she used to refinance herself a while back.

I think she needs to get a grip of reality before it kills her!

[Steve Axford]

I don't think we can really comment on the financial stuff as they don't give anywhere near enough detail, but it is sad to see her hit bad times. Unfortunately, being a great artist doesn't often make you smart with money.

[dowden photography]

From what heard and I had to do a 20 minute talk on her last year was that she was bailed out of the mess by some very rich art lovers only to end up back in it because she had a photography scout go out and shoot something for a book, when she went there she couldn't get the right shot so she used his, but forgot to remove a bird flying over and when he got the copy of the book he saw the bird, sued and it looked like he had a strong case.

The reason for her first mess was Susan Songtag left her a few places, all worthless and she had loaned against some of them.

[ricktas]

From what heard and I had to do a 20 minute talk on her last year was that she was bailed out of the mess by some very rich art lovers only to end up back in it because she had a photography scout go out and shoot something for a book, when she went there she couldn't get the right shot so she used his, but forgot to remove a bird flying over and when he got the copy of the book he saw the bird, sued and it looked like he had a strong case.

The reason for her first mess was Susan Songtag left her a few places, all worthless and she had loaned against some of them.

More of it related to her propensity to take on board a contract to shoot for someone, and then because of her amazing vision and perfectionist persona, she would often go way over budget and spend the entire budget she had won in the contract and then spend her own money(or the Bank's) to get the shot how she wanted it.

Sadly, this type of perfectionism creates stunning results, but any fool could see it doesn't make a profitable scenario

"Often compared to Irving Penn and Richard Avedon, Leibovitz makes big bucks for her photographs. She worked for years at Rolling Stone and then most recently at Vanity Fair and other magazines at Condé Naste. Who could forget Whoopie Goldberg in the tub of milk, or Demi Moore barefoot and pregnant. Known for her perfectionism, she often went over budget for many of her photo shoots for magazine and advertising campaigns. This over do it attitude seems to have carried over to her private life, where she has lived fabulously and paid a hefty price" Excerpt from : Manhattan Fine Arts Examiner - James Horner