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Entries in Dead (3)

Saturday
Jul132013

Founder and Chairman of Bose Corporation Dead at 83

iStockphoto/Thinkstock(NEW YORK) -- You may have his sound in your home, Amar Bose, the founder and chairman of the Massachusetts-based audio technology company that bears his named has died at age 83.

Bose began to study acoustics at the Massachusetts Institute of Technology, where he was on the faculty for more than 40 years. While Bose speakers were expensive, they had a reputation for high quality.

Bose's company, which was privately held, specialized in long-range research that the Wall Street Journal says could never have been done by a public company. In 2011, Bose donated the majority of the stock in his corporation to MIT, which was to use the dividends for education and research.

Copyright 2013 ABC News Radio

Wednesday
Mar142012

'Deceased' BofA Customer Alive, But With Thousands in Costs

Courtesy Arthur Livingston(PROSPERITY, S.C.) -- Arthur Livingston of Prosperity, S.C., is hoping Bank of America will reimburse thousands of dollars incurred after the company erroneously reported that he was deceased on his credit reports.

Bank of America has been reporting him as deceased to the three major credit agencies since May 2009, he said.  His credit report states "file not scored because subject is deceased."

The mistaken code was finally removed on Feb. 22, four and a half months after Livingston, 39, learned about the error and complained to the bank.

The regional manager of a chemical company, Livingston discovered the dilemma when he tried to obtain a loan from a mortgage company in October.  The problem may have begun when Livingston, who said he has been a Bank of America customer for 14 years, sold his home in May 2009.

His mortgage company is now able to obtain his credit score to give him a loan for his new home, but the incident has added thousands of dollars to the building process and affected his credit score after he made a dozen credit inquiries.

His family's plan for their new home was to begin construction in mid-December and move in by April.  Livingston, along with his wife, son and daughter, 8 and 5, respectively, have been living in a rental home while they wait.  It has cost them $6,000 in rent so far and will likely cost another $6,000 as they wait for the new home.

Livingston is asking Bank of America for compensation for rent "because we've established no equity in our home for over four and half months."

"It's been a complete waste of time," he said of the "inexcusable" mistake.

In addition, the builders will have to clear the land for his new home again, which cost $2,450 the first time back in October.  And since October, the contractor sent him a bill indicating that his building costs, like copper wire and concrete, have increased $4,000.

"We were unable to lock into a contract because we were unable to obtain a loan," he said.  "If [the contractor] starts building tomorrow we are looking at an additional $4,000 that we don't think we should have to pay."

Livingston said he would be "impressed" if Bank of America offers reimbursement for the related extra costs, but the impression he has received is "they don't really care."

"They're not going to lose a customer other than me and that doesn't seem to bother them," he said.

A spokeswoman for Bank of America said for privacy reasons the bank does not discuss details of individual customer concerns.

Copyright 2012 ABC News Radio

Monday
Jul252011

Amy Winehouse's Fortune: Who Gets It Now?

Samir Hussein/Getty Images(LONDON) -- Candles, heartfelt notes and even bottles of wine and liquor lie outside the home where Amy Winehouse lived. As crowds of fans pay their tribute to a British music sensation gone too soon, the death of the 27-year-old continues to perplex those closest to her.

"We're devastated, and I'm speechless," said Mitch Winehouse, Amy's father, to the group of media and fans that had gathered outside the house Monday morning. "Amy was about one thing, and that was love. Her whole life was devoted to her family and friends, and to you guys as well."

As questions abound regarding the cause of the troubled singer's death, there is also a big question about where Winehouse's vast fortune will go. Winehouse was estimated to be worth between $15 million to $30 million, and many are wondering whether she left anything to her ex-husband, Blake Fielder-Civil, or if anything is owed to him.

The tumultuous relationship between Winehouse and Fielder-Civil was made known through the singer's lyrics, their public displays of affection and their frequent drug use. The "Rehab" singer once reportedly carved the words "I love Blake" onto her stomach using a shard of glass.

Though the two were legally married in 2007, their 2009 divorce could be the reason Blake may not get anything at all. Solicitor Julius Brookman, a partner at U.K. firm Brookman Solicitors, said that according to U.K. law, even if Winehouse left something to her husband in a will, it would be rendered null and void after a divorce. "So unless the will indicates that Blake Fielder-Civil was to inherit anything despite the divorce, he gets nothing," Brookman wrote in an email to ABC News.

However, if Winehouse supported Blake while she was alive, he could possibly get something. Under the Inheritance Provisions for Dependents Act, courts can make orders to continue support to someone who depended on a deceased person.

If the singer's estate doesn't go to Fielder-Civil, it is still unclear who it will go to. Brookman said it all depends on her will, and whether she even had one in the first place. In the event Winehouse did not, her wealth, under British law, would be divided among family members.

Toxicology results from Winehouse's autopsy, which was performed Monday, were reportedly inconclusive.

Copyright 2011 ABC News Radio







ABC News Radio