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Wall Street Oasis » Blogs » Edmundo Braverman's blog
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For Those About to Propose
 

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Edmundo Braverman's picture
Edmundo Braverman
      ST
 
 
(Human, 14,336
 
Points)
 on 10/27/12 at 8:00am
Dead Cupid.jpg

mod (Andy) note: "Blast from the past - Best of Eddie" - This one is originally from January 2011. If there's an old post from Eddie you'd like to see up again shoot me a message.

With Valentine's Day two short weeks away, some of your girlfriends are no doubt ratcheting up the pressure on you to pop the question on the most romantic day of the year. Maybe you already live together. Maybe you've been going out for a few years. Maybe you met her in a Chelsea dive bar on Tuesday. It's no matter. They all want the same thing.

Allow me to introduce Charles Brandes. Sure, he's a big shot today pulling in an estimated $16 million a month, but he wasn't always. He was once just a young monkey like all of you. And therein lies his cautionary tale. For it was at that point in his career that he met Linda King Formo, a single mother earning $6 an hour as a librarian.

Brandes started his own firm in 1974 and was content to grow his AUM over the subsequent decade. He met Formo in 1983 and, after a three-year courtship, they were married in 1986. Even though he wasn't a BSD yet (he made about $180,000 in 1986), he obviously went into the marriage with some reservations, evidenced by the pre-nuptial agreement he presented to her which she refused to sign.

Let me say that again for the cheap seats, because it's important that you get it. He presented her with a pre-nuptial agreement and she refused to sign it. She allegedly told him at some point before the wedding that, "I will have no claim or interest in your business", but she denies ever saying it and it's impossible to prove and not legally binding anyway.

Fast forward 18 years to 2004. The marriage is over, and they're in divorce court. Charles is now a very big deal, and the lifestyle he has lavished on Linda could be described as over the top by any sane measure. By California statutes, he can only be forced to pay her $36,400 per month in spousal support but, either out of genuine concern for his soon-to-be ex-wife or his desire to head her off at the legal entanglement pass, Charles gives her a home in Rancho Santa Fe, a beach house in Del Mar, a Central Park penthouse and two other Manhattan condos, and two condos in Salt Lake City. To alleviate any liquidity concerns she might have, he throws in $18.7 million in cash.

Guess what?

It's not enough.

The interest alone on the money he gave her generates $155,000 a month. He throws another $350,000 a month into the pot, bringing her monthly income to a staggering $500,000. But she's just scraping by, and has now set her sights on the $140 million he has in various S-Corporations. The reason she can't make ends meet?

  • $30,000 a month at the casinos
  • $340,000 Mercedes Maybach
  • Upkeep on her various mansions
  • The 210 pairs of shoes in her closet
  • Half a million a month doesn't go as far as it used to, yo

Just so you don't think she's not deserving, she'll tell you she was instrumental in his success. How? She convinced him to dress better, get a nose job, and she busted his balls to work harder 'cause mama needs new shoes.

Guys, I hope you see where I'm going with this. You might be worthless today, but chances are you won't always be. You pay for car insurance, health insurance, life insurance (if you don't, you should). Why would you leave such an obvious financial vulnerability unprotected?

The best advice I can give is don't get married. Ever. There's just no percentage in it for a young guy with significant earning potential. Especially if there's a major income disparity between you and your significant other (hedge fund manager vs. $6 an hour librarian).

But I've been married three times myself. Just so I don't sound like a hypocrite, if you must get married - by all means protect yourself. A pre-nup doesn't mean you love little Susie Rottencrotch any less. And she won't hesitate to sign it, if her intentions are pure. If she does hesitate, that should tell you something.

Have a great weekend, guys, and don't fall into the Valentine's Day trap.

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Tags:
  • marriage

Comments

trazer985's picture

I'm intrigued in this part,

trazer985
      ST
 
 
(King Kong, 1,743
 
Points)
 on 1/28/11 at 6:11am

I'm intrigued in this part, being a bystander (not getting married while these kind of stories go around, not because I'm scared but you can bag some serious hotties).

Does anyone know how does a court force you to declare all your financial assets and income? They can go by tax returns, but not if you're registered to a Cayman Island company or to a government that doesnt recognise the court's jurisdiction (hi china).

T

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Edmundo Braverman's picture

Don't kid yourself. The

Edmundo Braverman
      ST
 
 
(Human, 14,336
 
Points)
 on 1/28/11 at 6:21am

Don't kid yourself. The courts don't have anything to do with it. If you're worth anything over $500,000 liquid, the first thing your wife's divorce attorney is going to do is hire a forensic accountant to find all your ratholes.

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MPG's picture

Sad story. I just got

MPG
      PE
 
 
(King Kong, 1,224
 
Points)
 on 1/28/11 at 6:29am

Sad story. I just got married so I can't comment like I know anything, but I can't picture my life without her. If I lost her, it would be worse than losing all of my money (which I have none right now anyway--plus she is working and supporting me while I go to Business school. When she waited a year for me while I was in Iraq I think that showed her character as well. If I am successful one day it will be because she was my supporting co-pilot in life, and for that reason if we ever split, I think 50% is fair.

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LetsGoSailing's picture

Eddie, I appreciate you

LetsGoSailing
     
 
(Monkey, 60
 
Points)
 on 1/28/11 at 6:35am

Eddie, I appreciate you writing that directly to me...but not to worry...if I got married, I couldn't come run with the bulls with you and the boys this summer!! The bulls are much safer in the short and long-run...Viva Encierro!

A good friend will come and bail you out of jail...but a true friend will be sitting next to you saying, "Damn...that was fun!"

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Jerrey's picture

I would't go for that risk. I

Jerrey
      IB
 
(Senior Baboon, 207
 
Points)
 on 1/28/11 at 7:13am

I would't go for that risk. I just reassured myself ex-wife has an accident and relax. Surely cheaper than other options. And accidents just happen.

"Make 'Nanas, not war! "

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econ's picture

Nice post Eddie. Man,

econ
      O
 
 
(Neanderthal, 2,416
 
Points)
 on 1/28/11 at 7:33am

Nice post Eddie. Man, stories like that really scare the crap out of me. It actually wouldn't suck that much to be in his position, since he'll still be ridiculously wealthy even if he pays that much. Don't get me wrong, it definitely still sucks and on principle alone it really bothers me. All I'm saying, is that it scares me less to think I could be in his shoes, and more to think I could be pulling in $100K and have to give $30K-$40K to some chick.

I could be totally off-base here, but I think there are two things which don't help avoid this situation: First, a lot of guys don't care how accomplished, ambitious, and successful a woman is. I think that's a mistake. If you choose to marry someone with the same level of drive and determination you have, I think it'd be easier to stick it out for the long-haul. Don't marry the waitress who would love to retire young on your money, and go shopping and eating out with her friends daily. Instead, marry the doctor or lawyer, or some chick who'd rather use your money to start and run a business or a non-profit. Second, I think a lot of guys get blinded by how cute a girl is, and forget to size her up with regards to a lot of other qualities. I'm not saying looks aren't important. It's just that when you're so focused on looks, you're more likely to find girls who are one-dimensional. Not to mention, when you're being that shallow, you're probably more likely to find girls that are shallow; basically you strike a trade: looks for money. If you're willing to pass up a 10 for a sweet and loyal 7, then I think you have a better chance of making it work. Anyway, just my 2 cents.

For my aspiring Entrepreneurial Nomads, check out my blog.

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Topli's picture

Solid advice. And Jerrey,

Topli
     
 
(Senior Chimp, 19
 
Points)
 on 1/28/11 at 7:33am

Solid advice. And Jerrey, accidents cost more money than a contract if I'm not totally wrong. Not that familiar with accidents nowadays

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b22's picture

As Kanye West put it "Now I

b22
      CO
 
(Chimp, 3
 
Points)
 on 1/28/11 at 7:34am

As Kanye West put it "Now I ain't sayin' she a gold digger (When I'm in Need) But she ain't messin' with no broke fellas." Be careful out there, too many people are in it for the fortune and the fame.

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IlliniProgrammer's picture

Quote: Don't kid yourself.

IlliniProgrammer
      ST
 
 
(Almost Human, 9,197
 
Points)
 on 1/28/11 at 8:49am

Don't kid yourself. The courts don't have anything to do with it. If you're worth anything over $500,000 liquid, the first thing your wife's divorce attorney is going to do is hire a forensic accountant to find all your ratholes.

See, my plan is to stick some of my pre-marriage assets into a spendthrift trust. Spendthrift trusts aren't considered an asset by the courts, and if you continue managing how the money is invested, it's a nice big nest egg that Mrs. Divorcee doesn't get to touch.

Not perfect, but no prenup conversation necessary. Besides, my religion is against talk about divorce before marriage.

Work hard, play hard.

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anaismalcolm's picture

I think the lesson here is

anaismalcolm
      IB
 
 
(Orangutan, 329
 
Points)
 on 1/28/11 at 8:45am

I think the lesson here is moreso don't be an idiot than be scared of marrying a woman. Now, I've been proposed to awhile ago so I'm probably biased, but I also said when we were just friends rather than even dating that I wanted a pre-nup (for my sake at least, since I plan on being wildly successful like most young monkeys), so perhaps that influenced him positively. The goal is for either sex to find a partner who is not going to use them for their looks/money/connections, because there's pretty little hope of that ever lasting.

If you're an Ivy League IB'er who has just become an MD, and you get a chick from Conn U. who loves the "experience" of shopping with you, going out to clubs and showing off to other men while buying expensive bottles of bubbly, and has no plans for future income, don't marry her. It just seems like so many of these stories involve really horrible character judgments on the men's part. Though my mother or Britney Spears with Kevin Federline are examples when women make just as terrible judgment calls.

tl;dr Don't be a dumbass and marry someone who doesn't want to build something -with- you.

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derivstrading's picture

these type of stories always

derivstrading
      ST
 
 
(King Kong, 1,350
 
Points)
 on 1/28/11 at 8:49am

these type of stories always leave a bad taste in my mouth

S&T Careers - The only trading interview guide you will ever need

If you have any questions email them to me at [email protected]

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IlliniProgrammer's picture

Quote: If you're an Ivy

IlliniProgrammer
      ST
 
 
(Almost Human, 9,197
 
Points)
 on 1/28/11 at 9:30am

If you're an Ivy League IB'er who has just become an MD, and you get a chick from Conn U. who loves the "experience" of shopping with you, going out to clubs and showing off to other men while buying expensive bottles of bubbly, and has no plans for future income, don't marry her. It just seems like so many of these stories involve really horrible character judgments on the men's part. Though my mother or Britney Spears with Kevin Federline are examples when women make just as terrible judgment calls.

I think the bottom line is that if you get married, in a healthy marriage, your career is less important than your family.

Wait until after the crush is over, and decide: would I be willing to give up my career to marry this woman? If the answer is still yes, then marriage is probably a healthy choice. Just bear in mind that it's hard to have a healthy family if you're working more than about 60 hours/week.

You can make some plans before you meet the person to protect yourself- like setting up a trust with some assets in it. (Also helps protect you from creditors and lawsuits.) But when you get married- you need to be making the decision that you want to spend the rest of your life with that person, and that you're willing to trade in your career to do that, if that's what it takes.

Work hard, play hard.

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tyrets's picture

Why would you not just have

tyrets
      ST
 
(Senior Baboon, 190
 
Points)
 on 1/28/11 at 9:02am

Why would you not just have this person taken out?

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PIE's picture

^ Ive had that done and it's

PIE
      IB
 
(Senior Gorilla, 873
 
Points)
 on 1/28/11 at 9:08am

^ Ive had that done and it's much harder/more expensive than you think.

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Frabjous's picture

Sorry Eddie, But I like to

Frabjous
      CO
 
(Senior Baboon, 221
 
Points)
 on 1/28/11 at 9:13am

Sorry Eddie,

But I like to think that if I ever find someone to marry, she will be as smart and kick ass as I am - even if this means that we don't have as much time to be together as I would have if I married a "at your disposal" wife.

Just fooling myself? Maybe. I am cynical, but I don't like extremes. Such as "never marry".

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karypto's picture

You can get married well into

karypto
      EN
 
 
(Senior Gorilla, 850
 
Points)
 on 1/28/11 at 9:21am
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econ's picture

tyrets wrote: Why would you

econ
      O
 
 
(Neanderthal, 2,416
 
Points)
 on 1/28/11 at 9:26am

For my aspiring Entrepreneurial Nomads, check out my blog.

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tyrets's picture

econ wrote: tyrets

tyrets
      ST
 
(Senior Baboon, 190
 
Points)
 on 1/28/11 at 9:31am
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SAC's picture

Most of the senior level guys

SAC
      HF
 
(King Kong, 1,171
 
Points)
 on 1/28/11 at 9:32am

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IlliniProgrammer's picture

Edmundo Braverman

IlliniProgrammer
      ST
 
 
(Almost Human, 9,197
 
Points)
 on 1/28/11 at 9:38am

Work hard, play hard.

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MagicKarp's picture

I wouldn't say never get

MagicKarp
      IB
 
(Baboon, 160
 
Points)
 on 1/28/11 at 10:01am
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In The Flesh's picture

Man, I must really be behind

In The Flesh
      HF
 
 
(Neanderthal, 2,801
 
Points)
 on 1/28/11 at 10:15am

Head of Metal Website: www.headofmetal.com

https://twitter.com/headofmetal2012

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AVPGuerilla's picture

Eddie, I have to say, most of

AVPGuerilla
      IB
 
 
(Senior Gorilla, 883
 
Points)
 on 1/28/11 at 10:16am

Step 1: Dream the Dream || Step 2: Live the Dream || Step 3: Rinse, repeat.

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TNA's picture

Honestly, if you have that

TNA
      O
 
 
(Human, 13,499
 
Points)
 on 1/28/11 at 10:24am

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AVPGuerilla's picture

A bunch of really stand-up

AVPGuerilla
      IB
 
 
(Senior Gorilla, 883
 
Points)
 on 1/28/11 at 10:33am

Step 1: Dream the Dream || Step 2: Live the Dream || Step 3: Rinse, repeat.

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Jackiesinthesun's picture

Simply put: If you don't

Jackiesinthesun
      IB
 
(Baboon, 118
 
Points)
 on 1/28/11 at 10:38am
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HarvardOrBust's picture

I can understand giving her

HarvardOrBust
      PE
 
(Senior Gorilla, 977
 
Points)
 on 1/28/11 at 10:41am
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In The Flesh's picture

...that being said, my last

In The Flesh
      HF
 
 
(Neanderthal, 2,801
 
Points)
 on 1/28/11 at 10:43am

Head of Metal Website: www.headofmetal.com

https://twitter.com/headofmetal2012

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AVPGuerilla's picture

Jackie - pretty much hit the

AVPGuerilla
      IB
 
 
(Senior Gorilla, 883
 
Points)
 on 1/28/11 at 10:44am

Step 1: Dream the Dream || Step 2: Live the Dream || Step 3: Rinse, repeat.

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Simple As...'s picture

IlliniProgrammer wrote: Not

Simple As...
     
 
(Senior Gorilla, 848
 
Points)
 on 1/28/11 at 10:44am
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SAC's picture

AssociateGuerilla wrote: A

SAC
      HF
 
(King Kong, 1,171
 
Points)
 on 1/28/11 at 10:50am

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veritas14's picture

Jackiesinthesun wrote: Simply

veritas14
      ST
 
(Gorilla, 662
 
Points)
 on 1/28/11 at 10:50am

*********************************
“The American father is never seen in London. He passes his life entirely in Wall Street and communicates with his family once a month by means of a telegram in cipher.” - Oscar Wilde

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Gr4v1ty's picture

I would be upset, but finance

Gr4v1ty
      ST
 
(Senior Monkey, 86
 
Points)
 on 1/28/11 at 10:51am
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manbearpig's picture

What is the problem with

manbearpig
      CO
 
 
(Neanderthal, 3,029
 
Points)
 on 1/28/11 at 10:54am

-MBP

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manbearpig's picture

And let's face it. Out of

manbearpig
      CO
 
 
(Neanderthal, 3,029
 
Points)
 on 1/28/11 at 10:53am

-MBP

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IlliniProgrammer's picture

AssociateGuerilla wrote: A

IlliniProgrammer
      ST
 
 
(Almost Human, 9,197
 
Points)
 on 1/28/11 at 11:06am

Work hard, play hard.

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SAC's picture

manbearpig wrote: What is the

SAC
      HF
 
(King Kong, 1,171
 
Points)
 on 1/28/11 at 10:54am

Learn Financial Modeling
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IlliniProgrammer's picture

manbearpig wrote: What is the

IlliniProgrammer
      ST
 
 
(Almost Human, 9,197
 
Points)
 on 1/28/11 at 11:04am

Work hard, play hard.

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bfin's picture

anaismalcolm wrote: I think

bfin
      CF
 
(Neanderthal, 2,771
 
Points)
 on 1/28/11 at 11:07am

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

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manbearpig's picture

IlliniProgrammer

manbearpig
      CO
 
 
(Neanderthal, 3,029
 
Points)
 on 1/28/11 at 11:08am

-MBP

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AVPGuerilla's picture

SAC - fair enough. I wouldn't

AVPGuerilla
      IB
 
 
(Senior Gorilla, 883
 
Points)
 on 1/28/11 at 11:19am

Step 1: Dream the Dream || Step 2: Live the Dream || Step 3: Rinse, repeat.

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WallStreetOasis.com's picture

These threads also scare the

WallStreetOasis.com
      EN
 
 
(Human, 12,054
 
Points)
 on 1/28/11 at 12:19pm

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TNA's picture

I don't know, I think pre

TNA
      O
 
 
(Human, 13,499
 
Points)
 on 1/28/11 at 12:28pm

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IlliniProgrammer's picture

King Solomon wrote: Better to

IlliniProgrammer
      ST
 
 
(Almost Human, 9,197
 
Points)
 on 1/28/11 at 12:53pm

Work hard, play hard.

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mike55555's picture

I've heard of cases where a

mike55555
      O
 
(Senior Orangutan, 464
 
Points)
 on 1/28/11 at 12:58pm

Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions.

-Niccolo Machiavelli

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IlliniProgrammer's picture

Again, why a premarital

IlliniProgrammer
      ST
 
 
(Almost Human, 9,197
 
Points)
 on 1/28/11 at 1:00pm

Work hard, play hard.

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Rice_seasoning's picture

Female here. Broadly speaking

Rice_seasoning
      IB
 
(Chimp, 9
 
Points)
 on 1/28/11 at 1:29pm
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CompBanker's picture

Just a note about Valentine's

CompBanker
      PE
 
 
(Almost Human, 8,505
 
Points)
 on 1/28/11 at 1:44pm

CompBanker

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Edmundo Braverman's picture

I just have to tell you guys

Edmundo Braverman
      ST
 
 
(Human, 14,336
 
Points)
 on 1/28/11 at 1:49pm

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Ben Shalom Bernanke's picture

IlliniProgrammer

Ben Shalom Bernanke
      AM
 
 
(King Kong, 1,423
 
Points)
 on 1/28/11 at 1:51pm
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The Company authorizes you to view and download a single copy of the material on www.WallStreetOasis.com (the "Web Site") solely for your personal, noncommercial use. By using the Web Site you are giving the Company the sole right to use any and all content you generate or publish on the site for commercial, non-commercial or promotional purposes. This includes any and all forum posts, comments, blog posts or any other material you generate on the Web Site.

The contents of this Web Site, such as text, graphics, images, logos, button icons, software and other items (collectively, "Material"), are protected under both United States and foreign copyright, trademark and other laws. All Material is the property of the Company or its content suppliers or clients. The compilation (meaning the collection, arrangement and assembly) of all content on this Web Site is the exclusive property of the Company and protected by U.S. and international copyright laws. Unauthorized use of the Material may violate copyright, trademark, and other laws. You must retain all copyright, trademark, service-mark and other proprietary notices contained in the original Material on any copy you make of the Material. You may not sell or modify the Material or reproduce, display, publicly perform, distribute, or otherwise use the Material in any way for any public or commercial purpose. The use of the Material on any other web site or in a networked computer environment for any purpose is prohibited.

You shall not copy or adapt the HTML code that the Company creates to generate its pages. It is also protected by the Company?s copyright.

Acceptable Site Use.

General Rules: Users may not use the Web Site in order to transmit, distribute, store or destroy material (a) in violation of any applicable law or regulation, (b) in a manner that will infringe the copyright, trademark, trade secret or other intellectual property rights of others or violate the privacy, publicity or other personal rights of others, or (c) that is defamatory, obscene, threatening, abusive or hateful.

Web Site Security Rules. Users are prohibited from violating or attempting to violate the security of the Web Site, including, without limitation, (a) accessing data not intended for such user or logging into a server or account which the user is not authorized to access, (b) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization, (c) attempting to interfere with service to any user, host or network, including, without limitation, via means of submitting a virus to the Web Site, overloading, "flooding", "spamming", "mailbombing" or "crashing", (d) sending unsolicited e-mail, including promotions and/or advertising of products or services, or (e) forging any TCP/IP packet header or any part of the header information in any e-mail. Violations of system or network security may result in civil or criminal liability. The Company will investigate occurrences which may involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.

Specific Prohibited Uses.

The Company specifically prohibits any use of the Web Site, and all users agree not to use the Web Site, for any of the following:

  • Posting any incomplete, false or inaccurate biographical information or information which is not your own accurate resume
  • Using any device, software or routine to interfere or attempt to interfere with the proper working of this Web Site or any activity being conducted on this site.
  • Taking any action which imposes an unreasonable or disproportionately large load on this Web Site?s infrastructure.
  • If you have a password allowing access to a non-public area of this Web Site, disclosing to or sharing your password with any third parties or using your password for any unauthorized purpose.
  • Notwithstanding anything to the contrary contained herein, using or attempting to use any engine, software, tool, agent or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search this Web Site other than the search engine and search agents available from the Company on this Web Site and other than generally available third party web browsers (e.g., Netscape Navigator, Microsoft Explorer).
  • Attempting to decipher, decompile, disassemble or reverse engineer any of the software comprising or in any way making up a part of the Web Site.
  • Aggregating, copying or duplicating in any manner any of the materials or information available from the Web Site.
  • Framing of or linking to any of the materials or information available from the Web Site.

User Information.

When you register for the Web Site, you will be asked to provide the Company with certain information including, without limitation, a valid email address (your "Information"). In addition to the terms and conditions that may be set forth in any privacy policy on this Web Site, you understand and agree that the Company may disclose to third parties, on an anonymous basis, certain aggregate information contained in your registration application. The Company reserves the right to offer third party services and products to you based on the preferences that you identify in your registration and at any time thereafter; such offers may be made by the Company or by third parties. Please see the Company's Privacy Policy below for further details regarding your Information.

Registration and Password.

You are responsible for maintaining the confidentiality of your information and password. You shall be responsible for all uses of your registration, whether or not authorized by you. You agree to immediately notify the Company of any unauthorized use of your registration or password.

The Company's Liability.

As a condition to your use of this site, you release the Company (and our agents and employees) from claims, demands and damages (actual and consequential, direct and indirect) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes. If you are a California resident, you waive California Civil Code d1542, which says: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor."

We are under no legal obligation to, and generally do not, control the information provided by other users which is made available through the Web Site. By its very nature, other people?s information may be offensive, harmful or inaccurate, and in some cases will be mislabeled or deceptively labeled. We expect that you will use caution and common sense when using this Web Site.

The Material may contain inaccuracies or typographical errors. The Company makes no representations about the accuracy, reliability, completeness, or timeliness of the Web Site or the Material. The use of the Web Site and the Material is at your own risk. Changes are periodically made to the Web Site and may be made at any time.

You acknowledge and agree that you are solely responsible for the content and accuracy of any resume or material contained therein placed by you on the Web Site and you agree to let any users that are identified as recruiters (designated in the sole discretion of the Company) to have access to your resume.

The Company is not to be considered to be an employer with respect to your use of the Web Site and the Company shall not be responsible for any employment decisions, for whatever reason made, made by any entity posting jobs on the Web Site.

THE COMPANY DOES NOT WARRANT THAT THE WEB SITE WILL OPERATE ERROR-FREE OR THAT THE WEB SITE AND ITS SERVER ARE FREE OF COMPUTER VIRUSES OR OTHER HARMFUL MECHANISMS. IF YOUR USE OF THE WEB SITE OR THE MATERIAL RESULTS IN THE NEED FOR SERVICING OR REPLACING EQUIPMENT OR DATA, THE COMPANY IS NOT RESPONSIBLE FOR THOSE COSTS.

THE WEB SITE AND MATERIAL ARE PROVIDED ON AN "AS IS" BASIS WITHOUT ANY WARRANTIES OF ANY KIND. THE COMPANY, TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING THE WARRANTY OF MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE AND NON-INFRINGEMENT. THE COMPANY MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE MATERIAL, SERVICES, SOFTWARE, TEXT, GRAPHICS, AND LINKS.

Disclaimer of Consequential Damages.

IN NO EVENT SHALL THE COMPANY, ITS SUPPLIERS, OR ANY THIRD PARTIES MENTIONED ON THE WEB SITE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL AND CONSEQUENTIAL DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE THE WEB SITE AND THE MATERIAL, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT THE COMPANY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Links to Other Sites.

The Web Site may contain links to third party web sites. These links are provided solely as a convenience to you and not as an endorsement by the Company of the contents on such third-party Web sites. The Company is not responsible for the content of linked third-party sites and does not make any representations regarding the content or accuracy of materials on such third party Web sites. If you decide to access linked third party Web sites, you do so at your own risk.

No Resale or Unauthorized Commercial Use.

You agree not to resell or assign your rights or obligations under these Term of Use. You also agree not to make any unauthorized commercial use of the Web Site.

Limitation of Liability.

The aggregate liability for the Company to you for all claims arising from the use of the Materials is limited to $1.

Termination.

The Company reserves the right, at its sole discretion, to pursue all of its legal remedies, including but not limited to immediate termination of your registration with or ability to access the Web Site and/or any other service provided to you by the Company, upon any breach by you of these Terms and Conditions or if the Company is unable to verify or authenticate any information you submit to the Web Site registration with or ability to access the Web Site.

Indemnity.

You agree to defend, indemnify, and hold harmless the Company, its officers, directors, employees and agents, from and against any claims, actions or demands, including without limitation reasonable legal and accounting fees, alleging or resulting from your use of the Material or your breach of the terms of these Terms and Conditions. The Company shall provide notice to you promptly of any such claim, suit, or proceeding and shall assist you, at your expense, in defending any such claim, suit or proceeding.

General.

The Company makes no claims that the Materials may be lawfully viewed or downloaded outside of the United States. Access to the Materials may not be legal by certain persons or in certain countries. If you access the Web Site from outside of the United States, you do so at your own risk and are responsible for compliance with the laws of your jurisdiction. These Terms and conditions are governed by the internal substantive laws of the State of New York, without respect to its conflict of laws principles. Jurisdiction for any claims arising under this agreement shall lie exclusively with the state or federal courts within New York, New York. If any provision of these Terms and Conditions are found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these Terms and Conditions, which shall remain in full force and effect. No waiver of any term of these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term. Except as expressly provided in additional terms of use for areas of the Web Site a particular "Legal Notice," or Software License or Material on particular Web pages, these Terms and Conditions constitute the entire agreement between you and the Company with respect to the use of Web Site. No changes to these Terms and Conditions shall be made except by a revised posting on this page.

PRIVACY POLICY

The Company recognizes that you are concerned about privacy. We are committed to preserving your privacy and safeguarding your sensitive information. The following statement describes the general information-gathering and usage practices of our sites.

Our staff, contractors, Internet service providers and others involved in this site follow this policy or similarly strict policies regarding your Information.

Disclosure

The Company is committed to fully disclosing our policies regarding the collection, use, maintenance, disclosure and security of personal information obtained from users of our site. The term "personal information" includes a name, address, email address, or any other information which could be used to contact you directly or to identify you personally.

Use and Disclosure Limitations

The Company only uses personal information about its Web site users for specific purposes. We do not share user information with third parties except when we have told users about the disclosures, when we have prior consent, or when required by law.

Use Policy: When the Company gathers personal information from users, we ask for permission first. We also disclose, at the time of collection, how the information will be used by us. Personal information is used for activities such as auto-completion of commonly-used forms and helping us contact you when you solicit information from us.

Disclosure Policy: We do not normally disclose personal information to anyone outside of the Company unless we have previously informed users about the disclosures. However, some data may be used from time to time by outside contractors, including auditors or consultants, to assist us in carrying out necessary financial or operational activities. These uses will be consistent with this privacy policy and all contractors using this potential personal information must agree to safeguard it, to use it only for the authorized purpose, and to return it or destroy it upon completion of the activity.

The Company might be required to disclose personal information in response to a valid legal process such as a subpoena, search warrant or court order.

Although unlikely, it is possible that we may have to make certain disclosures to ensure the security of our Web site, to protect its integrity, or to take precautions against potential liability. In any of these situations, we will take any reasonable steps to limit the scope of the data disclosed.

Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

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  • The predicament that I am in is that I am 21 and in community college but I feel like I am behind in life I wanted to be in a university by now and preparing for law school but plans did not go according. I will be applying for colleges this fall 2013 but I am afraid that I will not get into...
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I used to work with a guy that had everything on the surface, but absolutely nothing inside. The guy was 6 feet tall, good-looking, charismatic, multi-lingual, graduated from a top business school, and had made MD at a bulge bracket investment bank. Yet he couldn’t remember the last time he...
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