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Jack Welch's hired gun
Former CEO of General Electric brings in prominent trial attorney to join his divorce team.
October 29, 2002: 1:47 PM EST

NEW YORK (CNN/Money) - Jack Welch, the former CEO of General Electric, has enlisted a high-profile trial attorney in his pending divorce case, a sign that Welch may be prepared to go to trial to protect his estate, valued at more than $600 million, CNNfn confirmed Tuesday.

Last week, the Welch legal team filed a motion in a Bridgeport, Conn., court to have Daniel Webb, who has represented Philip Morris and Microsoft and is a former U.S. attorney, admitted as additional legal counsel to Welch.

In a move deemed unusual by legal experts, William Zabel, lawyer for Jane Welch, will oppose admission of Webb to the proceedings on grounds that he is not a matrimonial lawyer, CNNfn has learned.

The court is expected to make a decision Wednesday on whether to admit Webb.

The already public divorce hit the front pages after Jane Welch filed an affidavit in early September saying that financial support of $35,000 a month was not adequate to cover her standard of living.

The filing by Jane Welch detailed her husband's use of an $80,000 per month Manhattan apartment owned by General Electric (GE: Research, Estimates), court-side seats to the New York Knicks and U.S. Open, seating at Wimbledon, box seats at Red Sox and Yankees baseball games, country club fees, security services and restaurant bills.

Although Welch defended the perks at the time of the filing, he subsequently agreed to assume a number of the costs, which he valued at about $2.5 million a year, according to the New York Times.

The Welch divorce began after Jack Welch became involved with Suzy Wetlaufer, former editor of Harvard Business Review.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.