We’re almost midway through the second season of the Real Housewives of Beverly Hills, so what better time to bring you some more old school/before they were famous photos of your favorite BH housewives!
Days after the Huffington Post reportedBethenny Frankelonly received $8.1 million for the sale of her Skinnygirl drink line, and not the widely reported $120 million, both Bethenny and Forbes are now firing back!
First Forbes is stating they stand by the $100 million figure. If you recall, the Bethenny Ever Afterstar graced the cover of Forbes back in May during which they declared she sold the drink line for $100 mil — $20 mil less than the amount originally reported by The Hollywood Reporter.
So what exactly was the $8.1 mil figure about? Well according to a financial analyst, the $8.1 million is merely the value of the goodwill attributed to the brand.
“The $8.1 million was just the amount of intangible assets purchased in the Skinnygirl transaction, essentially the amount Beam paid for the Skinnygirl brand rights—not the total purchase price,” saidanalyst R.J. Hottovy to Forbes.
So how did Huffington Post’s Rob Shuter get it wrong? Well for starters the actual price Beam paid for Skinnygirl is missing from the 10-Q statement and Bethenny cannot publicly disclose the amount due to a confidential agreement. Beam is also refusing to disclose the amount and they can actually get away with doing that under accounting rules.
“We will continue to disclose accounting data as required to be included in financial filings,” said Beam Global spokeswoman Paula Erickson, “but do not expect that a black-and-white lump sum ‘purchase price’ figure will be made available. Suffice to say, this was not an $8.1 million acquisition.”
So the BIG question now is how much did Bethenny really receive for the sale of her drink line? According to Forbes, that figure is at least $39 million. See Beam listed $39 million in their financial disclosures for acquisitions made in the second quarter of 2011. And as financial analyst R.J. points out, the only acquisition the company made during that period was for the Skinnygirl Drinkline.
“The only deal they announced over that period was Skinnygirl,” said R.J. “This means [Beam] paid at least that much for Skinnygirl [during that period].” He goes on to add that there may be additional elements to the deal not accounted for or visible in company filings, including stock options that could yield Bethenny additional long-term returns.
In addition to the $39 million Bethenny likely received upfront, she also stands to earn up to an additional $25 million. The company’s financial statement revealed “the Company may be required to record contingent consideration in an amount not in excess of approximately $25 million.” That basically means Bethenny stands to earn up to an additional $25 million based on future sales, incentives, meeting high targets etc.
Bethenny herself confirmed this to Forbes stating she’d get “on-going back end”—payments based on how well Skinnygirl’s cocktails sold after Beam took control. Experts say Bethenny should be getting that $25 million as “sales of Skinnygirl have exceeded expectations for 2011 and that threshold will be met this year.”
According to Forbes, this brings “the value of the deal to at least $64 million in this year alone, without accounting for any further payments or other compensation for Frankel.” Bethenny adds, “The acquisition was structured with various potential payout levels based on sales of Skinnygirl products.”
Bethenny of course also fired back at critics. When asked about the reported $8.1 million figure, Bethenny said laughing: “Come on. That it could be the fastest growing booze brand on the market and have sold for that little is just preposterous… I’m going to be paying a hell of a lot more than $8.1 million in taxes.”
As for the Huffington Post, they have since retracted their original errornous report stating they “regret” it.
However, some things are still not adding up. For example, where did the $100 million figure come from? It appears Forbes can only put a $64 million figure on the deal and cannot account for the remaining $36 million. Yes, it’s clear Bethenny potentially stands to earn more, according to her, but it would have been nice if Forbes could further explain how exactly they were able to put a $36 mil figure on that potential income.
Other things that make you scratch your head is the fact that immediately following the Huffington Post’s report, Bethenny quickly removed the Forbes $100 million cover story from her website. Why remove the article if it’s accurate?
Also more odd, Forbes released the statement below to the Huffington Post before they ultimately decided to back Bethenny and themselves on the issue –
“We’re taking this very seriously. We based our numbers at the time of reporting on solid sources. We’re aware of the new information and we’re looking into it right now,” Dan Bigman, Forbes executive editor stated. “We’re going to review all the information thoroughly and talk to Ms. Frankel before taking any steps. If there are any inaccuracies, we’ll correct them. If clarification is required, we’ll do so.”
As for Bethenny, she also tweeted: “Most people are morons. Stay tuned.” She later added, “Only listen to sources you trust. Irresponsible journalism is a waste of your time.” Bethenny also changed her Twitter profile picture to her Forbes cover. That cover is below.
Must say Bethenny should be giving thanks that this Huffington Post report came out just in time to distract the public from Lost-at-sea-gate!
Photo credit: Roger Wong/INFEvents.com
TELL US – THOUGHTS ON THE LATEST? SOMETHING FISHY ABOUT THE $100 MILLION FIGURE OR MUCH ADO ABOUT NOTHING?
The latest is Caroline Manzo is finally speaking out against her former friend and costar Teresa Giudice. Following Sunday night’s finale which revealed the growing rift between the two ladies, The Caroline is not mincing her words when it comes to Tre! The drama began when Teresa insulted Caroline by stating she is “as Italian as the Olive Garden,” and then to add insult to injury, she also took a shot at Caroline’s son Christopher Manzo in her cookbook.
In an interview with Life & Style magazine, Caroline, 50, states fame has changed Teresa, 39. “I’m done with her,” Caroline states. “We’re housewives, nothing more,” Caroline asserts. “But she believes she’s Angelina Jolie or something!”
“She’s a bully,” Caroline adds. “She crossed the line in so many ways in trying to maintain this image that she has, that there were no boundaries.”
Oh but there’s more! In a separate interview with The Insider, Caroline accuses Teresa of playing the victim. “You don’t have the right to play the victim when you’re the one doing all the hitting,” said Caroline. “Everybody here wants to hug… Everybody loves each other here, it’s all love.”
Teresa apparently sees herself as the victim as she blogged last week: ” The whole time we were filming, I had no idea what other people were saying about me. I just assumed they were all my friends.”
Caroline, who had remained loyal to Teresa on the show, almost to a fault, then goes on to admit she even mistreated Teresa’s sworn enemies family members Melissa Gorga and Kathy Wakile based on what Teresa had told her about them.
“I was awful to them, awful to them. [Kathy] came to my house, this poor thing — her angel wings are underneath the dress, you don’t see them — and I abused her. Because I had a preconceived notion about who they were, and it was so far from the truth,” said Caroline.
Caroline finishes the interview stating: “Why should I feel sorry for somebody that walks away from people that want to help her, that walks away from love and tries to hurt?”
A former friend of Teresa’s tells Life & Style: “She is just not the same person. When filming began on the show, she seemed so sweet but now she doesn’t seem to care about the people around her.”
Our RHONJ insider told us Teresa is now friendless as evident by the fact that none of her RHONJ castmates attended her recent party to launch her Fabellini wine with the exception of Dina Manzo.
And speaking of Dina, Caroline is finally confirming what we reported a while back. Back in June, we broke the news that Caroline and her sister Dina were no longer on speaking terms. A source confirmed the story to us back then in addition to the fact that the two sisters stopped following each other on twitter.
Back then Caroline denied the feud, perhaps wanting to protect her family, but in a new preview clip for the upcoming reunion, she finally comes clean. In fact she blames Teresa for straining her relationship with Dina.
In the clip below, Teresa says to Caroline, “No wonder why Dina doesn’t want to talk to you! Like, what happened to you?” Caroline responds: “I lost a lot of my relationship with her.” Andy Cohen then asks, “With Dina?” Caroline states, “Yeah.” Andy asks over what, and Caroline right at Teresa and says, “I’m looking at you.” Whoa!
Part 1 of the reunion airs this Sunday on Bravo at 10/9c.
TELL US – THOUGHTS ON CAROLINE’S COMMENTS? DO YOU AGREE THAT TERESA IS A BULLY AND PLAYING VICTIM? THOUGHTS ON CAROLINE NOT TALKING TO DINA & BLAMING TERESA?
Teresa Giudice says to Caroline, “No wonder why Dina doesn’t want to talk to you! Like, what happened to you?” Caroline says, “I lost a lot of my relationship with her.” Andy asks, “With Dina?” Caroline says, “Yeah,” and when Andy asks over what, Caroline looks to Teresa and says, “I’m looking at you.”
Royce tweeted: “Good Afternoon! As of right now I have decided NOT 2return 4 Season 4 of BBW due 2 artistic differences.Things may change but as of now, NO!”
After some fans wondered if this sudden change of heart was over money (I mean let’s face it “artistic differences” is usually the code name for I want more money!), Royce denied it was over finances. She wrote: “Some things have Nothing to do with money but All to do with images/careers! Never sell your soul! Respect is hard 2 come by! :-)”
Wow. Even more surprising Royce’s costar Tami Roman then hinted that she might also be leaving the show. “Well ok @Roycelr don’t be surprised-several others may follow…” tweeted Tami.
No word yet on what those creative differences Royce is talking about could be. Perhaps the producers of the show are wanting her to make up with Evelyn,Shaunie O’NealandJennifer Williams in other to remain relevant on the show. After icing Royce out last season by not inviting her to Italy, the three meangirls have stated they no longer want to film with her. And with Meeka Claxton reportedly getting the boot, that leaves Royce with no one to film with except Tami.
And just a few days ago, the NY Post posted the blind item below about Shaunie the show –
“Which producer of a VH1 reality show is fed up with negotiations over contracts for “Basketball Wives?” The producer was overheard telling people that the ladies “better fall in line” or they’ll be booted “like the New York Housewives.”
It will be interesting to see how this all plays out. Must say the show is in serious danger if Evelyn, Royce, and Tami all decide to walk away!
Photos credit: PR Photos
TELL US – THOUGHTS ON ROYCE QUITTING THE SHOW? WILL YOU MISS HER ON IT?
While New Jersey Governor Chris Christie received some backlash weeks ago for blocking a $420,000 tax credit that was intended for MTV hit show Jersey Shore, it turns out he has the full support of the state of Jersey after all!
According to new polls, New Jersey residents not only support Gov. Christie’s decision but they also feel the show is very bad for their state!
“Garden State voters agree overwhelmingly with Gov. Chris Christie’s decision to slam the door on ‘Snooki,’ ‘The Situation’ and the rest of the ‘Jersey Shore’ crew,” saidMaurice Carroll, director of the Quinnipiac University Polling Institute which conducted the polls.
An overwhelming nearly 70 percent of voters polled think the show is bad for the state, while 71 percent agree with Christie’s decision to veto the tax credit citing the state should not pay $420,000 for a show that “perpetuates misconceptions about the state and its citizens.” Ouch!
Fortunately for the Jersey Shore gang, they do have an usual fan in former American Idol judge/current American IdolX-Factor judge Simon Cowell! But seriously American Idol and X-Factor are the same show no?
“I thought [Jersey Shore] was genius, absolute genius,” said Simon to MTV this week. “And whether you like the show or not, these kids are suddenly big, big stars. They just make me laugh.” No word yet on whether Simon is laughing at the cast or with them!
Simon goes on to add that Snookihas in fact inspired him on X-Factor. “Yeah, so that was the reason why I came to New Jersey: I wanted to find the next Snooki,” he says. Oh that Simon, always tongue-in-cheek! He is joking right?
And finally, move over Jill ZarinKelly Bensimon! There is a new “celebrity” cyber-bullying victim!
While bullying and cyber-bullying has become a hot topic and a serious issue in recent times, Vinny Guadagnino is now revealing his sad tale of cyber-bullying at the hands of some of his 2 million twitter followers! And yes he has 2 mil followers on twitter. Apparently Vinny, who chose to put his life on national television, feels negative tweets constitute as “cyber-bullying.”
“I get cyber-bullied every single second of the day!” Vinny tellsLife & Style. “Right now, if I go through my Twitter I guarantee that within two seconds I’ll find someone making fun of my friends and family and calling me the devil.”
Vinny goes on to add that being “cyber-bullied” is what encouraged him to join forces with MTV to help bring awareness to National Bullying Prevention month. “I want to get involved because I can relate,” he states. “This is about young people on social media and the different problems they have. I’ve been there, and I’m still there.”
Allrighty. A new episode of the Jersey Shore airs tonight on MTV at 10/9c.
TELL US – JERSEY SHORE RESIDENTS: ARE YOU ASHAMED OF THE JERSEY SHORE? DO YOU THINK SIMON WAS JOKING WITH HIS COMMENTS? IS VINNY A REAL VICTIM OF CYBER-BULLYING?
Below, more photos from Teresa Giudice’s party! Caroline Manzo and Melissa Gorga are pictured heading to the ABC studios, Kathy Wakile attends an event, Real Housewives of NYC stars Ramona Singer, Alex McCord and Simon van Kempen step out! Kelly Bensimon is photographed in an actual upstaged paparazzi shot, Kyle Richards wears an interesting attire,plus photos of Nene Leakes, Rachel Zoe& more!
Also below, Kim Kardashian, Kourtney Kardashian, plus Holly Madison, Kendra Wilkinson & more!
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They say when it rains, it pours and unfortunately for Bethenny Frankelit continues to storm.
Just days after the towboat operator who “rescued” her publicly stated she faked the whole ordeal for her reality show, a new report by the Huffington Post is now stating Bethenny did not receive the widely reported$120 million for the sale of her Skinnygirl drink line earlier this year. Just how much did she earn? $8.1 million — a far cry from the reported amount.
The Huffington Post uncovered the SEC quarterly financial disclosures posted on Fortune Brands’ (the company Bethenny sold her line to) website yesterday which revealed the acquisition of the Skinnygirl cocktail business was for $8.1 million. The statement read, “…the acquisition of the Skinnygirl ready-to-drink cocktail business ($8.1 million).” Below is another excerpt from the disclosures –
“In March 2011, we acquired the Skinnygirl ready-to-drink cocktail business. The acquisition included inventory and identifiable intangible assets. In addition to goodwill, we recorded contingent consideration, which is based on the achievement of certain sales targets. In future periods, the Company may be required to record contingent consideration in an amount not in excess of approximately $25 million. Any change in the Company’s estimated liabilities for contingent consideration will impact operating income in future periods.”
To sum this up, Bethenny received $8.1 million upfront and stands to earn up to an additional $25 million based on future sales, incentives, meeting high targets etc. W.O.W.Z.E.R.S. That puts the full possible sum of the sale at $33.1 million. While still definitely impressive — it is definitely a far cry from the reported $120 million.
Ramona Singer expressed her doubts about that amount back in May citing the amount was likely closer to $30 million. Who would have thought Ramona had it right? “I was thinking before that figure came out she got about $30 million total,” Ramona said. “And divided that between her and her partners David, and usually they do a pay out, they don’t give you the money up front, they pay you out over time.”
In Bethenny’s defense, she has never confirmed that $120 mil amount, but then again she never denied it. I guess the question now is should she have spoken up and publicly stated the number was way off? It will be interesting to see how Bethenny responds to this. She has yet to comment on this latest finding.
Moving on to Bethenny’s other dilemma aka Lost-at-sea-gate. The original story by Bethenny, star of Bethenny Ever After, was that she alongside her husband Jason Hoppy, her therapist and a Bravo camera crew were lost at sea for over 20 hours after their GPS malfunctioned.
Bethenny first gave an interview to E! News recounting the ordeal which she described as “traumatic.” And then during an appearance on The Ellen Show, she told host Ellen DeGeneres that she tipped tow boat operatorTim Russell$2,800 for safely returning her to shore.
Right away, some questioned the authenticity of Bethenny’s story which led the Jewish Journal to find Tim and interview him about what really happened. Tim had some very harsh words to say about Bethenny as he revealed she was never in any real danger while insisting that the navigation system was working when he received the call. Tim also added he was only called to help after the Coast Guard refused due to the lack of danger. To top it off, Tim said he never received the $2,800 tip from Bethenny.
Wowzers. Bethenny is now firing back in an attempt to defend herself. She is still sticking to her story as she tells E! News she was indeed lost at sea.
“Fiction? For some reason the craziest things just happen to happen to me,” she tells E!. “Not many people have an iguana poop in their suite on their honeymoon or their baby nurse attempt to baptize their child.”
“I wish that boat trip were fiction rather than the nightmare it actually was,” added Bethenny. “My truth is stranger than fiction.”
Bethenny also made the following tweets: “I will ALWAYS be honest with my fans. I know you know that!” She added: “Let’s review last week’s idiocies 1)I have a”nice”coach 2)I’m getting divorced 3)I’m pregnant 4)I lied re:being lost at sea Anything else?”
For someone as brash and honest as Bethenny, I was expecting a better defense of herself especially if someone is falsely accusing her of lying. I personally feel she should have answered the tough questions such as did she really tip Tim $2,800? And why would Tim come out and state her story was fake? I can’t imagine a man who was tipped $2,800 woould publicly state that he wasn’t.
Photo credit: WENN
TELL US – THOUGHTS ON THE LATEST? SHOULD BETHENNY HAVE SPOKEN UP ABOUT THE REPORTED $120 MILLION SALE AMOUNT? DO YOU BELIEVE BETHENNY OR TIM?
Kim confirmed on her twitter page that she will be tying the knot with NFL beau/baby daddy Kroy Biermann!
“I am happy announce that YES @biermann71 and I are engaged! I’m on a cloud and so blessed!!” tweeted Kim. She later added: “Thank u ALL so much 4 the Congrats on our engagement I have never been happier @biermann71 has made me smile from day 1! Appreciate the ♥!”
Kim, 33, and Kroy, 26, who plays for the Atlanta Falcons, have been together for over 18 months. The two met during the filming of the RHOA last year.
Kroy and Kim welcomed their first child together — a son back in June. Kim has two daughters from previous relationships.
Following the engagement announcement, Kim also tweeted a photo of herself and Kroy with popular wedding planner Colin Cowie. That pic is below as well as some other recent pictures of Kim from the last week!
Filming on the upcoming 4th season of the RHOA is in its last days so it’s likely Kim’s engagement will be a part of the season!
TELL US – THOUGHTS ON KIM’S ENGAGEMENT? HAPPY FOR HER?
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