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BABY BOOMERS: Yeah, We’re Leaving The Labor Force Alright — Because We Can't Get Back In It

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boomers at occupy los angelesGetting old is hard.

Getting old and getting shut out of the workforce is misery.

Since the recession, the labor force participation rate — the percent of the population employed or looking for work — has remained stubbornly low.

Many analysts have attributed much of this to America’s aging population.

And that may be true.

But what the numbers can’t show is that some boomers are dropping out because they can't get re-hired if they've been left jobless. 

In 2006, Connecticut resident Valerie Comeau was laid off from her job at a major insurer.

She spent the next seven years in and out of work before giving up entirely this year and taking early social security at the age of 62.

“I am beyond frustration at this point regarding employment, so I just decided to pack it in,” she told us via email.

She says she is fairly certain that in one instance an employer wouldn't take her on because she was too old to train.

At another gig she applied to, she says, the hiring manager told her 800 applicants had also sent resumes.

“There just are not enough jobs in this area for the number of people unemployed who are looking for work.”

Analysts also like to point out that demographics actually began to drag the labor force participation rate prior to the recession.

But according to Ronni Bennett, so did age discrimination.

A retired news producer and web editor who now writes a blog on aging, Bennett, then 63, was let go from her position overseeing one of the earliest incarnations of a major consulting firm’s website in 2004. 

She spent the next year looking for a new gig, but only got two call backs.

“They thought I was hot stuff, they’d say ‘Hurry up, can you be there at 10 tomorrow,' " she said. "Then I would show up and they’d say the job had been filled when they saw me.”

As layoffs soared in the midst of the recession, so did workplace discrimination suits.

But the spike in age discrimination cases was one of the most acute:

workplace discrimination cases

It's a particularly unfair situation, Bennett said, given climbing lifespans should be extending the definition of prime earnings years.

And she rejected the notion that she should have simply gone back to school.

"Nobody who says that knows what they're talking about," she said. "[Maybe] if you're an administrative assistant working for somebody who only gave you typewriter to maybe learn computer."

She ended up losing 35% of her savings in the wake of Lehman, and was forced to take out a reverse mortgage to give her an adequate financial cushion.

Researchers at the Urban Institute have confirmed that the lack of entry (or reentry) into the workforce is having a greater impact on the labor force participation rate than the rate of people leaving it. 

The rate of 55-66 year-olds entering or reentering the work force between 2010 and 2011 dropped 17 points compared with the rate following the 2001 recession:

reentry labor force participation

Meanwhile, the rate of 55-66 year-olds leaving the workforce post-Lehman was actually found to be slower than post-2001:

leaving

This puts huge pressure on personal finances, Urban explains:

"The reluctance of older workers to reenter the labor market in recent years...is troubling, as they may be increasingly likely to remain permanently out of the workforce, potentially compromising their retirement security."

Even boomers facing negligible financial pressure have been forced into retirement.  

A Massachusetts man we spoke with who wished to be identified as “Ted” said he had enough savings to comfortably hang up his nursing career in his ‘50s.

But he didn’t plan to actually stop working until 65.  

He ended up not having a choice in the matter, he says, after he was let go from a part-time gig. He’s convinced it was because he was one of the oldest workers there.

“The CEO of company said we need to clean house — and everybody who left was my age.”

Despite getting shut out of the formal workforce, at least some of this cohort is still working.

Ted now serves on the board of his son's startup firm.

And between her blog and local volunteering gigs, Bennett said she is now actually working more hours than she ever did than when she was in the labor force.

But it seems clear that, whether by choice or necessity, employers have left them behind.

SEE ALSO: How 'Oversupply' Explains The Current State Of The Global Economy

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Tour A $50 Million Glass Penthouse 60 Floors Above Madison Square Park

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one madison penthouse exterior roof deck

After a troubled start, ultra-skinny skyscraper One Madison re-emerged onto the New York City market last week, this time with a $50 million triplex penthouse at the very top.

The luxury highrise on the south side of Madison Square Park has 53 apartments in total, spread out over its 60 floors.

The New York Times reports that prices will range from $1.825 million for the building's only studio to the $50 million 7,000-square-foot penthouse (with its very own website) spanning the three top floors.

Click here to skip right to pictures of the penthouse >>

The owner of this over-the-top penthouse will also have access to One Madison's 10,000 square feet of amenities, including a 50-foot lap pool, fitness center, yoga room, screening room, and playroom for children.

One of the skinniest skyscrapers in NYC with a base of only 3,300 square feet, One Madison has had a controversial history. Originally built at the peak of the real estate bubble, the project was forced into foreclosure after lawsuits, buyer refunds, and forgery accusations in 2010.

Last year, the Related Companies, HFZ Capital Group, and CIM Group became the tower's new owners, according to The New York Times.  They finished construction on the building, and were responsible for redesigning the floor plans, including One Madison's prize-jewel penthouse.

Spanning from the 58th floor to the 60th, the penthouse has full-height window walls that give a 360-degree view of Manhattan.

Source: One Madison Penthouse



There are five bedrooms, a living room, deluxe kitchen, and an internal elevator in the home.

Source: One Madison Penthouse



Here's a glimpse of what the über swanky dining room could look like if it's decorated by Yabu Pushelberg, the designer of the building's amenities.

Source: One Madison Penthouse



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Some People With Too Much Money Are Consulting A 'Water Sommelier'

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bottled water

Equinox, the upscale gym chain, has an interview with a "water sommelier" on its blog today. This isn't a parody:

For Martin Riese, still or sparkling is just the beginning: Certified as a water sommelier by the German Mineral Water Trade Association, Riese recently created a water menu for Ray’s & Stark Bar in Los Angeles. “Water is not just water,” says Riese, whose 45-page menu features 20 different bottles from ten different countries.

(Disclosure: I am, for better or worse, an Equinox member.)

In order to help its members avoid drinking the wrong water at the wrong time, Equinox asked Riese for some situational pairings.

He says Gerolsteiner is an ideal post-workout water because it "has a good amount of carbon dioxide, which makes for big, refreshing bubbles." I'm not sure a carbonated beverage is the right choice to follow a hard workout, but then, what do I know? I'm not a certified water sommelier.

What water should you pair with vegetables? Well, it depends on what kind of vegetables:

Iskilde from Denmark is a great water for a vegetarian mushroom dish because it has earthy taste notes. Beverly Hills 90H20 is the perfect pairing for a seasonal salad because it will cut through the acidity of a vinaigrette dressing and help balance out the flavors.

Unfortunately, this advice conflicts with a rule my parents taught me: Never buy a product whose name you can't say out loud without embarrassing yourself.

For breakfast, he recommends Fiji, because it's "refreshing." Well, yeah, it's refreshing because it's water

Update: According to an June story from Eater L.A., 90H20 is Riese's own water brand. So what we have here is a water sommelier who's talking his own book.

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Help Business Insider Find The World's Best Baristas

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baristaBusiness Insider has decided to show baristas some love for helping us start our days off right.

And we'd like you to help us find the world's best baristas. 

Whether they work in a big chain like Starbucks or a favorite local spot, we're looking to highlight true professionals who have your drink order memorized, deliver your mocha with a smile, and know your name by heart.

It's easy to nominate your favorite barista. 

Just email retail@businessinsider.com and include the following:

  • A photo of your barista.

  • Where he or she works.

  • A brief explanation of why you’re nominating him or her.

  • A way for us to contact him or her.

We appreciate your help.

SEE ALSO: The Best Fast Food In America

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Step Inside The Best Hotel In India, Where Guests Arrive By Private Boat

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Oberoi Udaivilas

We recently published a list of the 25 Best Hotels In India, based on TripAdvisor traveler reviews, and the Oberoi Udaivilas took the number one spot on our list.

Located in Udaipur, in the state of Rajasthan, the Oberoi Udaivilas is a romantic hotel that was built to resemble a traditional Indian palace—and it certainly embodies all the luxury of one.

With luxurious amenities like private pools and butler service, a romantic setting, and over-the-top service, the hotel stands out as an exceptional lodging option in a country filled with incredible luxury—for those who can afford it.

Rates for the Oberoi Udaivilas start at about $460 per night.

Guests arrive at the hotel by a private boat ride across Lake Pichola.



When they reach the entrance, they'll see grand architecture that was inspired by the traditional palaces of Rajasthan.



The hotel has remarkable architectural details, like traditional pavilions and domes.



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Here Is The New Banksy Work In Los Angeles

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Today, Banksy updated his eponymous website with a new picture of his recent graffiti in Los Angeles.

new banksy graffiti better out than in

The image is a stencil of a tagger "throwing up" a patch of flowers that was independently growing between two buildings.

The British graffiti artist titled it, "Better Out Than In" on his blog, and then teased his followers by writing. "October 2013."

Here's hoping next month will be a big one for the London-based street artist, filmmaker, and satirist.

If you know where this is in LA or have another picture, let us know at life@businessinsider.com.

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The First 6 Things Every Lottery Winner Should Do

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lottery winners popping bottles of champagne celebratingA South Carolina man finally claimed last week's mind-boggling $400 million Powerball jackpot on Monday.

Now the hard part begins.

Winning the lottery is the kind of good fortune that anyone short of Bill Gates would find staggering, let alone a guy who bought the winning ticket on an errand to "pick up hot dog buns."

History has shown that in many cases, people's lives became notably worse after they struck it rich.

"It's a really hard thing to cope with if you've never really grown up around big sums of money like that, which most of us haven't," says Colleen O'Brien, vice president and branch manager for Charles Schwab.

To help, we asked O'Brien for her thoughts on what a lottery winner should do within the first year of winning to make sure they don't blow it all.

Step 1: Don't quit your day job.

The worst thing anyone who's just woken up hundreds of millions of dollars richer can do is make knee-jerk decisions that would have taken them months to mull over under normal circumstances.

That means keeping your day job, at least for a while, and stepping back to truly contemplate what your new wealth means, O'Brien says. "Your first day, your first week, you don't do anything," she advises. "A lot of people quit their jobs and start spending before they even have the money. The first thing people have to do is sit back and wait ... and figure out what this truly means to you."

Step 2: Don't tell anyone.

In the South Carolina winner's case, his choice to remain anonymous was the wisest move he could have made, O'Brien says.

"What's the first thing that happens? All the friends and family feel like it's an open pool and the person who [won] feels an obligation to them," she says. "I would try to get my ducks in a row, wrap my head around it. If you don't tell anybody, it’s just you and your spouse who're dealing with it."

There's another reason O'Brien recommends staying anonymous: Financial firms from around the country and beyond will be beating down your front door to take your business. To them, you're the kind of cash cow that comes around once in a lifetime and they'll want to milk you for all you're worth.

Step 3: Hire a solid tax advisor.

By remaining anonymous, you have the ability to quietly and methodically assemble a team of advisors who will act in your best interests. Your top priority should be finding a solid tax advisor.

"Depending on your level of understanding, it can take at least a year to understand the different dynamics that go into taxation," O'Brien says. "The tax planning process is so critical. You have to take that [tax] money and set it aside so that it's done and it's out of the equation of your wealth."

And depending on how you plan on taking your winnings, you may have to continue to count them as income for tax purposes.

Just don't thumb through the Yellow Pages to find a CPA. Start by looking around at your circle of friends or acquaintances to find someone you think manages their money well. Ask for a referral to their CPA and go from there.

Step 4: Get your estate in order.

Depending on the size of the jackpot, chances are that the lucky winner won't plan on spending every dime within their lifetime. Finding an estate planner will be a crucial step, as they will help you figure out how to not only set aside sums for family and friends but also manage charitable giving and other strategies to help you avoid taxes.

"I really believe ... that when people have an estate planner they feel more secure about their wealth," O'Brien says. "An estate attorney will help you draft your trust and other documents related to how you want to pass down the money at death."

With an estate plan in place, you'll also have a line of defense ready in case family members start to get pushy.

Step 5: Start a budget with a financial planner.

It seems counterintuitive, but the uber-wealthy have just as much to gain from a budget as the rest of us — especially if their wealth has come on suddenly. A financial planner plays the role of coach, keeping you on track so that your cash doesn't run out before you do.

"If you want to retain your wealth, you have to have a certain kind of budget," O'Brien says. "Ask yourself what are the things that are most important to you? ... With a financial planner, then you figure that out and scale it back to an element that allows you to have some of what you want but not everything you want in the first couple of years. Give yourself time to get comfortable with the wealth. Then you can start to make bigger changes around your financial situation."

That doesn't mean letting your planner take the wheel and drive completely. You'd be silly not to stay involved in the planning process and readjust your plan at least once per year.

Step 6: Use your financial team as a defense against family and friends.

The best thing about assembling a team of financial experts to help plan your money management? You can blame them for everything when your friends and family drop by with their hands outstretched.

"If you put your professional team in place, they help guard you against manipulation a little bit," O'Brien says. "I would start by saying, 'I've got this money but it's kind of restricted in how I can use it.' If you lay it out there like that then that helps shift any of the manipulative behavior that can come in."

The bottom line: Give yourself time to get used to your wealth before you spend it.

"In the first year, you're going to have to settle in with what this is and not make a lot of decisions about spending," O'Brien says. "Make more decisions about taking care of your tax bill and planning for how you're going to retain this wealth over time."

SEE ALSO: 19 lottery winners who blew it all

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Reader's Digest Dropped Wallets In 19 Cities To Find Out Which One Was The Most Honest

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Wallet empty Edinburgh Fringe

If you lose your wallet, better hope you're in Finland.

Reader's Digest wanted to know which world city was the most honest, so they "lost" 192 wallets around the world.

In each of the 19 cities, they included a name, cellphone number, family photo, coupons, and business cards in the discarded wallet, as well as $50 in whichever currency the country used.

They then left 12 wallets around each city near parks, shopping malls, and on sidewalks, and counted how many were returned.

Here are the results:

1. Helsinki, Finland (Wallets returned: 11 out of 12)

2. Mumbai, India (Wallets returned: 9 out of 12)

3. (TIE) Budapest, Hungary (Wallets returned: 8 out of 12)

3. (TIE) New York City, U.S.A. (Wallets returned: 8 out of 12)

4. (TIE) Moscow, Russia (Wallets returned: 7 out of 12)

4. (TIE) Amsterdam, the Netherlands (Wallets returned: 7 out of 12)

5. (TIE) Berlin, Germany (Wallets returned: 6 out of 12)

5. (TIE) Ljubljana, Slovenia (Wallets returned: 6 out of 12)

6. (TIE) London, England (Wallets returned: 5 out of 12)

6. (TIE) Warsaw, Poland (Wallets returned: 5 out of 12)

7. (TIE) Bucharest, Romania (Wallets returned: 4 out of 12)

7. (TIE) Rio de Janeiro, Brazil (Wallets returned: 4 out of 12)

7. (TIE) Zurich, Switzerland (Wallets returned: 4 out of 12)

8. Prague, Czech Republic (Wallets returned: 3 out of 12)

9. Madrid, Spain (Wallets returned: 2 out of 12)

10. Lisbon, Portugal (Wallets returned:1 out of 12)

Out of the 192 wallets they dropped, 90 wallets were returned, or about 47%.

Head over to Reader's Digest to see more about their experiment.

HOLD ONTO YOUR WALLET: The Best Thing To Eat In 35 Countries Around The World

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MacArthur Fellowship: How To Win $625,000 With No Strings Attached

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fellow2

It begins with a phone call. From out of nowhere.

That's how a MacArthur Fellow learns they have just won $500,000 to spend, however they want.

This scene has played out each year since 1981, when the John D. and Catherine T. MacArthur Foundation recognized 21 individuals for their creative work and handed them hundreds of thousands of dollars to be allocated over a five-year period.

These people are independent, creative, and demonstrate an exceptional talent in their field. They are also people whom the foundation thinks will benefit from the money they are given.

The grant is "not a reward for past accomplishments, but rather an investment in a person's originality, insight, and potential," according to the foundation.

On Wednesday, a new group of fellows will be announced. This year the recipients will receive "genius grants" of $625,000.

You don't have to be a "genius" to receive an award. This term is only used by journalists, according to Cecilia Conrad, the director of the MacArthur Fellow Program who recently described the Fellowship in an article for The Washington Post, titled "Five myths about the MacArthur 'genius grants.'"

Recipients are chosen from nearly every discipline — there are agriculturalists, economists, historians, entomologists, marine biologists, sculptors, and theater directors.

"We admire prodigies and great athletes, but those are not the attributes we are seeking when we make the award," Conrad writes. "We are looking for people on the precipice of a great discovery or achievement."

You can read Conrad's full post here or read our brief overview of the MacArthur Fellowship below:

How does the selection process work?

You cannot apply to be a MacArthur Fellow. Recipients are nominated by the organization's own "talent scouts," who are generally leaders in their fields. The nominators change each year. A selection committee composed of 12 anonymous experts makes the final decision. The committee looks at a file of the nominee's work, like books, videos, or art installations, and combines this with recommendations from experts to identify the most outstanding candidates.

Do the Fellows know they have been nominated?

No. The winners don't know about their nomination until a few days before the official announcement when they receive a phone call. Anthropologist Shannon Dawday, who received a fellowship in 2010, described that moment as like "receiving a phone call from the Greek gods."

What do the Fellows get?

This year the MacArthur fellows will receive $625,000 paid over five years. In past years the stipend has been $500,000.

Who are the winners?

The winners come from all different fields, including science, journalism, mathematics, music, and art. According to Conrad, "from 2001 to 2012, 36 percent of the MacArthur fellows came from the arts and humanities, 36 percent from science or social science, and 26 percent worked on social problems such as homelessness, food security, and health care." 

Is there an age limit?

No. Last year the winners ranged in age from 33 to 66.

How many people receive the fellowship?

There are typically between 20 to 25 winners. There were 23 recipients in 2012 and 22 the year before that.

Who won last year?

Here is a list of the 2012 MacArthur Fellows. The winners included a stringed-instrument bow maker who is trying to improve the design and quality of violin, viola, and cello bows, a marine ecologist who is studying dead zones in the Gulf of Mexico, and a fiction writer from the Massachusetts Institute of Technology.

And the fellows can spend the money any way they want?

Yes. There are no restrictions on how recipients can spend the money. However, the idea is to provide seed money so this group of creative people can do the work they have always dreamed of doing without financial constraints.

The MacArthur website explains: "We believe that highly motivated, self-directed, and talented people are in the best position to decide how to allocate their time and resources. By adopting a 'no strings attached' policy, we provide the maximum freedom for the recipients to follow their creative vision, whether it is moving forward with their current activities, expanding the scope of their work, or embarking in entirely new directions."

SEE ALSO: Meet Last Year's Winners

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Here's What You Can Buy At The Biggest Gun Show In The Southeast

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paul_szoldra_lakeland_gun_show20130921_0054

Despite recent attempts to pass new national gun control legislation, the gun lovers of America are winning.

This couldn't be more apparent than at the Lakeland Gun Show, the biggest gun show in the Southeast and one of more than 5,000 gun shows held in the U.S. each year, where you can buy an incredible variety of guns and weapons, as well as military surplus gear and military artifacts.

These gun shows are particularly controversial because they allow individuals to buy guns from other individuals without going through background checks.

We visited Lakeland to see the core of American gun culture.

Not far from Tampa, the largest gun show in the southeast is held at this massive convention center.



The show starts at 9 a.m., but it doesn't take very long for the parking lot to fill up with gun enthusiasts, who pay $11 for admission.



Many bring guns in, often to sell. They need to have their guns "checked" to ensure they don't have any ammo, and the show staff zip ties it so it cannot fire.



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Heartwarming Video Follows Retired Russian Farmer On His First Trip Away From Home — To New York City

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VASILY ILYIN New York City

For a recent issue featuring a stories about the lives of ordinary people, Russian Esquire decided to forgo the usual model and celebrity cover stars and focus on someone quite different — 67-year-old retired farmer Vasily Ilyin.

Ilyin lives in a village called Ryshkova in the Kursk region of Russia. Although he's now retired, he had never left the area. So, when Esquire decided to shoot a portrait of Ilyin, they decided to give him the trip of the lifetime and fly him to New York City.

You can watch Ilyin's trip (which includes a sojourn in Moscow) in the heartwarming 20-minute short film featured below. Though largely in Russian, it features English subtitles:

Vasily from STEREOTACTIC on Vimeo.

It's fascinating to watch the entire video, with highlights including Ilyin's trips to see the Charging Bull of Wall Street, his numerous ruminations on Russia's leaders and its place in the world, and his fascination during a trip to a New Jersey dairy farm.

Ilyin's cover photo was shot at Manhattan's Milk Studios. Here's how it turned out:

Vasily Ilyin Russia Esquire

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DEBUNKED: 10 Airplane Myths That People Still Believe

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goldfinger death scene james bond

Flying can be a mysterious experience: Planes are incredibly complicated, even scary machines, and pilots and flight attendants don't tell you too much about what's going on.

So it makes sense that people believe all sorts of interesting "facts" about air travel.

The problem is, a lot of them aren't true.

From "you get drunk faster in the air" to "the air in planes is riddled with germs," here are 10 airplane myths that needed to be debunked.

1. Opening a plane door while in flight is a real safety risk.

It isn't. When the plane is at cruising altitude, it's pressurized. That pressure means that getting a door open would require superhuman strength. 

To quote Patrick Smith, an airline pilot, blogger, and author of Cockpit Confidential: "You cannot – repeat, cannot – open the doors or emergency hatches of an airplane in flight. You can’t open them for the simple reason that cabin pressure won’t allow it."

So don't worry about the occasional passenger going nuts and everyone flying out of the plane as the result of an opened door, it isn't going to happen. Which leads us to the next myth...

Airbus A319 plane door

2. A small hole in a plane will lead to everyone being sucked right out.

Patrick Smith notes that while bombs and large-scale structural failures can cause disastrous, rapid decompression, a small hole in a plane's fuselage is a different matter.

After a foot-long breach in an Alaska Airlines MD-80 plane led to an emergency descent in 2006, Smith wrote in his Salon column: "The breach was a small one, and once the cabin pressure had escaped, it could be reasonably assumed that the plane was going to stay in one solid piece and fly just fine. Which it did."

3. You get drunk faster at cruising altitude.

Discovery's "Mythbusters" took this one on, and found it categorically false. But because planes are not pressurized to sea level (it's the equivalent of breathing at about 8,000 feet up), there's less oxygen in the air, which can make you feel drunk.

qantas boeing dreamliner 787 at paris air show 2013 bathroom lavatory

4. Planes dump human waste while in air.

Doesn't happen. So many people have complained about supposedly being hit by flying waste from above, the FAA created a fact sheet to address this myth. It wrote: "It's physically impossible for a pilot to dump a tank while in flight." If you do get hit by waste, it almost certainly came from a bird. 

5. You can get stuck on a plane toilet if you flush while sitting down.

You can get stuck, but only if your body forms a perfect seal on the vacuum toilet. This is difficult to do. Adam Savage of "Mythbusters" tried it out, and despite serious suction, got up without a problem. But it's still probably a good idea to stand before flushing. 

6. Recirculated air in planes spreads disease.

This one seems logical, but Patrick Smith puts it to bed:

The air circulates until eventually it is drawn into the lower fuselage, where about half of it is vented overboard. The remaining portion is run through filters, then re-mixed with a fresh supply from the engines, and the cycle begins again.

... Those underfloor filters are described by manufacturers as being of "hospital quality." Boeing says that between 94 and 99.9 percent of airborne microbes are captured, and there's a total change-over of air every two or three minutes -- far more frequently than occurs in buildings.

Do watch out, however, for germs left behind on surfaces like tray tables (consider bringing some sanitary wipes or hand sanitizer).

airplane germs masks swine flu testing

7. Wearing your seat belt can hurt your chances of surviving a plane crash.

Think of this as similar to wearing a seatbelt in a car. While it's not crazy to think that your seatbelt can hinder a hasty escape from a crashed plane, it does far more good than harm. We spoke with Keven Hiatt, CEO of the non-profit Flight Safety Foundation, about the crash landing of Asiana Flight 214 in San Francisco.

He told us in a situation like that, "you would potentially be thrown out of your seat," and could hit another passenger or a bulkhead. So it's better to be in your seat and have to deal with unbuckling, than to find yourself flying through the air.

8. Pilots can control airflow to keep passengers sedated and save on fuel.

Again, Patrick Smith has the real data: "The idea that we cut back on oxygen is simply ridiculous. Oxygen levels are determined by pressurization."

9. Oxygen masks are decoys, meant to keep passengers calm before a crash.

This one, propagated by the character Tyler Durden in "Fight Club," is way off the mark, according to Smith. If the cabin loses pressure (which can easily happen without leading to a crash), everyone on board is left breathing the air at 30,000 feet, which is oxygen-poor (the summit of Mt Everest is 29,029 feet high).

Until the pilots can bring the plane down to about 10,000 feet, where the air is safely oxygen-rich, those masks keep everyone breathing normally. That's fairly important.

10. You have no chance of surviving a plane crash.

After the crash landing of Asiana Flight 214, it seemed incredible that 304 of 307 people on board survived. But that's in line with numbers from the National Transportation Safety Board, which show that 95% of passengers involved in accidents on US carriers between 1983 and 2000 survived. (An "accident" is an event "in which any person suffers death, or serious injury, or in which the aircraft receives substantial damage.")

That's thanks to strict regulations that make sure modern planes are fire-resistant, easy to evacuate, and capable of going through major trauma without falling apart.

RANKED: The Best Airlines In America

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24 'Geniuses' Just Won $625,000 To Spend However They Want

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Karen RussellThe names of 24 MacArthur Fellows were revealed at midnight on Wednesday, bestowing recipients with a gift of $625,000, paid over five years, to be spent anyway they choose. 

The so-called "genius awards" from the John D. and Catherine T. MacArthur Foundation have been handed out to around two dozen creative and talented Americans from all different fields every year since 1981. 

The no-strings-attached money is intended to give recipients the freedom to pursue new ideas or move forward with their current work.  

No one can apply for the awards. The fellows are chosen by an anonymous panel of experts, who inform the winners through a telephone call just a couple days before the official announcement. 

This year, the fellows range in age from 32 to 60. There are several artists including a concert pianist, a playwright, and a choreographer of classical ballet. The other fellows include an organic chemist, a medieval historian, a behavioral economist, and an immigration lawyer. 

You can see the full list of fellows at the MacArthur website

SEE ALSO: Meet Last Year's Winners

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GOLDMAN SACHS AND TEEN VOGUE: Here Are The 50 Brands That Young Women Love Most

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pac sun shopper

In what has to be the best collaboration between equity researchers and a teenage fashion magazine, Goldman Sachs has joined forces with Teen Vogue to produce the definitive "Teen Vogue-Goldman Sachs Brand Affinity Index."

"Over the next 5 years, millennials are expected to ascend at the expense of boomers in apparel consumption, increasing spending by 20-25%," writes Goldman's Lindsay Drucker Mann. "But they do so with less financial backing, according to data from various sources: lower incomes than preceding generations, and less inclination to use credit cards."

Millennials — those born between 1980 and 2000 — will therefore be more "discriminating shoppers," and brands will have to compete more heavily in terms of product and messaging.

To find the top 50 brands, Goldman polled over 1,200 Teen Vogue 'It Girls' on around 350 brands. Respondents scored brands based on awareness and favorability. They also rated brands based on "word of mouth" — an important facet in our social media world where peer opinion is more easily available.

The composite index measured the average of those three scores, excluding brands with low favorability scores (where favorability was one standard deviation below the mean).

50) Dolce & Gabana

Awareness: 81.9%

Favorability: 72.8%

Word of Mouth: 43.7%

Composite: 66.1%

Source: Goldman Sachs



49) Guess

Awareness: 89.7%

Favorability: 63.6%

Word of Mouth: 45.3%

Composite: 66.2%

Source: Goldman Sachs



48) Prada

Awareness: 83.0%

Favorability: 72.9%

Word of Mouth: 42.7%

Composite: 66.2%

Source: Goldman Sachs



See the rest of the story at Business Insider
    






This College Student Is Paying His Way Through School By Eating

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eric dahl

A University of Wisconsin student with a nickname of "Silo" is eating his way through school — competitively.

Computer engineering student Eric Dahl now ranks third in the world of competitive eating as determined by All Pro Eating rankings, though he once held the top spot. Dahl has earned more than $18,000 in prize money or merchandise to help pay for his education.

"I'm eating for my education," he said. "It helps me get through."

Dahl was drawn to competitive eating in 2011, at the former Big Red's Steakhouse in Madison. Dahl didn't want to pay for his meal so he signed up for a challenge: eat a three-pound cheesesteak sandwich in less than 10 minutes and skip the bill. He finished in 5 minutes, 50 seconds.

"It just started rolling from there," he said.

Dahl's first paycheck came from Dickey's Barbecue Pit in suburban Minneapolis, where he earned $250 for inhaling nine pulled-pork sandwiches in six minutes. The former high school athlete found the competition and its over-the-top atmosphere reminiscent of professional wrestling.

"I really get pumped when the crowd starts cheering," he said. "I'm friends with other competitive eaters, but once I'm on stage I don't have any friends."

The 6-foot-3 Dahl said he walks a few miles a day, lifts weights twice a week and plays intramural soccer and hockey to maintain his 220-pound weight. The State Journal reports (http://bit.ly/1dvsVlj ) that he eats no more than 3,100 calories a day, mostly vegetables to avoid increasing his waistline, and stretches his stomach by eating 10 pounds of cabbage or broccoli in a single sitting followed by a lot of water.

His next bout is scheduled for Saturday. "Silo" will try to win $1,000 at a national pizza-eating contest on Library Mall at the University of Wisconsin-Madison.

___

Information from: Wisconsin State Journal, http://www.madison.com/wsj

SEE ALSO: The First 6 Things Every Lottery Winner Should Do

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A 'Page Six' Reporter Is Making Her Boyfriend 300 Sandwiches In Exchange For An Engagement Ring

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Pulled Pork Sandwich

In what sounds like a weird throwback to the 1950s, a senior reporter for The New York Post's Page Six section is on mission to make her boyfriend 300 sandwiches — and get engaged.

The reporter, Stephanie Smith, explains in a confessional in Page Six the project started in June 2012 when her  "gourmet cook" boyfriend Eric kept asking her to make him a sandwich:

Each morning, he would ask, “Honey, how long you have been awake?”

“About 15 minutes,” I’d reply.

“You’ve been up for 15 minutes and you haven’t made me a sandwich?”

To him, sandwiches are like kisses or hugs. Or sex. “Sandwiches are love,” he says. “Especially when you make them. You can’t get a sandwich with love from the deli.”

When she finally acquiesced and made him a turkey sandwich, he told her, "Honey, you're 300 sandwiches away from an engagement ring!"

Smith took him seriously, and started the blog 300sandwiches.com about the sandwiches, her life, and her relationship with Eric. So far, she has made 176 sandwiches, with 124 more to go.

The sandwiches range from classic breakfast sandwiches, to sophisticated shrimp Bahn Mi and lobster roll sliders. She even makes ice cream sandwiches for dessert (check out some of her favorite recipes).

As for Eric, he offers his own advice at the end of Smith's article: "You women read all these magazines to get advice on how to keep a man, and it’s so easy. We’re not complex. Just do something nice for us. Like make a sandwich.”

You can read Smith's full article over at The New York Post.

SEE ALSO: 12 Sandwich Hacks That Will Completely Change Your Life

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DEAR SCOTCH DRINKERS: Here Are 3 Bottles Of Laphroaig You Have To Try At Least Once

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If you're a Scotch drinker, you know Laphroaig for its signature smokey "peat" flavor.

Those earthy aromas come courtesy of the terrain on the island of Islay, off Scotland's West Coast. John Campbell, Laphroaig's Master Distiller, has two jobs: "The quality of the liquid and keeping it legal."

Born only a mile and a half from the distillery on the small Scottish island, Campbell has been at Laphroaig for 19 years and at the helm since 2006.

"The purpose of my job is to hold the torch for now, make sure I pass it on the next person," Campbell told Business Insider. "Laphroaig will be here in 200 years when I'm well gone."

But it's not such a bad time to be a Master Distiller. Not since the late 1800s has whiskey seen this much consumer interest, Campbell says. And Laphroaig makes single malts, which have seen an especially pronounced renaissance. "We've had a once in a lifetime growth spurt [in the industry]." Laphroaig's 31 employees ship out 26 million peaty bottles a year. 

Campbell sat down with Business Insider to talk whiskey and show us what Laphroaig has been working on. We particularly liked these three bottles.

laphroaig 101. Laphroaig 10

The distillery's flagship bottle. If you've had Laphroaig before, this is the one you likely tried. Expect strong peat, medicinal aromas, white pepper and salt. For Campbell, drinking this classic borders on experiential. Here's how he describes it:

If you're standing down the pier at Laphroaig. The kiln fires are burning, the peat smoke is coming out, you've got the seaweed in the beach and you're just standing there and the salt is in the air. That's the essence of the area.

"The 10 year old is more like a thinking whiskey as you reflect," Campbell says. "It's more for your own time. Sometimes I'll just pour a 10 year and leave it there to smell it."

Add a few drops of water and it's a completely different scotch, opening up with creamier salt notes and an oilier feel in the throat.

laphroaig cairdeas2. Cairdeas

We were lucky to get a sip of this gem, as Laphroaig only made 25,000 bottles this year. "People who get the bottle feel like they're getting the golden ticket," Campbell said. 

Cairdeas is double matured and put in a port wood cask for 16 months, giving it a pink hue visible in the clear bottle.

And you can definitely get the fruit and honey flavors. "Visit your store quickly... This will be gone in a heartbeat," according to Campbell. 

laphroaig triple wood

3. Triple Wood

A sweeter expression, with fruit right at the beginning. Vanilla and sherry flavors shine through. Almost a buttery, syrupy feeling, and then white pepper turns to black. Very smooth.

The Scotch gets its name from its triple maturation process, with the final step in sherry casks.

Campbell says this Scotch feels right during social occasions — it's sweeter and there are a lot of flavors to talk about. Triple Wood is also pretty rare, so you'll have to work to find a bottle of this one too.

Campbell will be hosting a live whiskey tasting stream, Laphroaig Live, on Thursday night at 8 p.m. EST. You can watch here.

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13 Everyday Phrases That Actually Came From Shakespeare

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shakespeare

Just the mention of William Shakespeare makes some people cringe. Even I'll admit his writing seems daunting at times.

Whether a fan or not though, you probably use many of Shakespeare's phrases on a regular basis.

Here's a list of 13 popular, albeit strange, sayings The Bard coined. In fact, we say or write some of these so often, they've become clichés.

1. "Green-eyed monster"

Meaning: jealousy.

In "Othello," Iago uses describes jealousy as a monster which devours its source.

"Oh, beware, my lord, of jealousy!
It is the green-eyed monster which doth mock
The meat it feeds on" (Act 3, Scene 3).

In this case, Iago uses romance as an example. He thinks a man would rather know his wife is cheating than suspect her without proof.

2. "In a pickle"

Meaning: a difficult or uncomfortable situation.

In "The Tempest," King Alonso asks his jester, Trinculo, "How camest thou in this pickle?" (In modern language, "how did you get so drunk?")

The drunk Trinculo responds, "I have been in such a pickle since I saw you last ..." (Act 5, Scene 1).

Trinculo's drinking does cause trouble for him, the way we use the phrase today. Shakespeare's original intent makes sense though. Many pickling processes use alcohol.

3. "The world is your oyster."

Meaning:being in a position to take advantage of life's opportunities.

In "The Merry Wives Of Windsor," Falstaff refuses to lend Pistol any money. Pistol retorts, "Why, then the world's mine oyster, which I with sword will open" (Act 2, Scene 2).

Since Falstaff won't help him financially, Pistol vows to obtain his fortune using violent means.

We've dropped the angry undertones for modern use.

4. "Catch a cold"

Meaning: to get sick.

In "Cymbeline," one of Shakespeare's lesser-known plays, Iachimo says to Posthumus Leonatus, "We will have these things set down by lawful counsel, and straight away for Britain, lest the bargain should catch cold and starve ..." (Act 1, Scene 4).

In other words, if the deal takes too long, it will fall apart. Shakespeare created the idea of "cold" causing illness for the first time.

5. "It's all Greek to me."

Meaning: that something is indistinguishable or incomprehensible.

In "Julius Caesar," when Cassius asks Casca what Cicero said, Casca responds, "But, for mine own part, it was Greek to me" (Act 1, Scene 2).

Cassius didn't understand because he doesn't speak Greek. The phrase has obviously morphed and expanded its meaning.

6. "Love is blind"

Meaning:an inability to see shortcomings in a lover; doing crazy things when in love.

In the "The Merchant Of Venice," Jessica disguises herself as a boy just to see her beloved, Lorenzo. Needless to say, she feels a little silly but simply has to see him.

"But love is blind, and lovers cannot see
The pretty follies that themselves commit ..." (Act 2, Scene 6)

7. "Wild goose chase"

Meaning: a hopeless and never-ending pursuit.

In "Romeo and Juliet," Romeo makes a play on words comparing his shoe to his penis, and Mercutio can't compete with Romeo's wit. He tells Romeo to stop joking, but Romeo implores his friend to continue — an impossible feat in Mercutio's mind.

Mercutio says, "Nay, if our wits run the wild-goose chase, I am done, for thou hast more of the wild-goose in one of thy wits than, I am sure, I have in my whole five" (Act 2, Scene 4).

8. "A heart Of gold"

Meaning: a very kind or honorable person.

In "Henry V," King Henry disguises himself as a commoner, and Pistol, unaware of the King's true identity, speaks to him. When the King asks if he considers himself a better man than the king, Pistol says, "The king's a bawcock, and a heart of gold, a lad of life, an imp of fame ..." (Act 4, Scene 1).

9. "Break the ice"

Meaning: to start conversation.

"And if you break the ice, and do this feat,
Achieve the elder, set the younger free ..." (Act 1, Scene 2).

In the "The Taming Of The Shrew," Baptista Minola has two daughters: a sassy one and a modest, beautiful one — the younger daughter. He refuses to let any suitors even speak to his younger daughter until his older daughter marries. Tranio (as Lucentio) suggests that another man marry the older daughter, so he can try to win the younger one's affection.

10. "Laughing stock"

Meaning: a person subjected to ridicule.

In "The Merry Wives Of Windsor," Doctor Caius says to Sir Hugh Evans:

"Pray you let us not be laughing-stocks to other men's humours;
I desire you in friendship, and I will one way or other make you amends" (Act 3, Scene 1).

Here, Doctor Caius thinks the two will make fools of themselves if they fight — exactly what people want and expect. They should end the conflict and save their reputations instead.

11. "Wear your heart on your sleeve"

Meaning: to express your emotions openly, especially when others notice without much effort.

In "Othello," Iago says he'll "wear my heart upon my sleeve. For daws to peck at: I am not what I am" (Act 1, Scene 1).

The phrase most likely stemmed from jousting matches in the Middle Ages. Knights would wear tokens (such as scarfs) from their ladies tucked into the sleeves of their armor. But the first recorded use appears in Shakespeare's play.

12. "Dogs of war"

Meaning: soldiers; the brutalities that accompany war.

In "Julius Caesar," Mark Antony says to Brutus and Cassius, "Cry “Havoc!” and let slip the dogs of war ..." (Act 3, Scene 1) shortly after Caesar's assassination.

Here, Mark Antony predicts that Caesar's ghost will come back, with help from the goddess of vengeance, to start a massive war in Italy.

He continues, "This foul deed will stink up to the sky with men’s corpses, which will beg to be buried" (Act 3, Scene 1).

Thus, the phrase today carries a serious connotation.

13. "Method to his madness"

Meaning: Someone's strange behavior has a purpose.

In "Hamlet" Polonius says as an aside, "Though this be madness, yet there is method in’t"(Act 2, Scene 2).

In the previous scene, Hamlet just read a letter and criticized its author for being rude. But Polonius knows something that Hamlet doesn't and understands the "method" behind the author's "madness."

SEE ALSO: 12 Famous Quotes That People Always Get Wrong

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What It's Like The Moment You Sell Your Startup For Tons Of Money

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yext employees

Bryan Goldberg and his three co-founders had to wait eight torturous months to learn the fate of their startup.

Technology sites were reporting acquisition rumors about their company, Bleacher Report, and each story made the founders cringe. 

The rumors were true: Bleacher Report was on the block. Turner Media, owner of CNN, was interested in buying the sports media site.

But no paperwork had been signed and Bleacher Report didn't want to spook the potential buyer.

"It went from something that seemed out of reach, to something that was remotely possible, to something we thought might happen, to something we thought would probably happen, to something that seemed almost certain," Goldberg says. "You go to bed every night thinking there's a really good chance this deal is going to go through, and knowing at any minute it could come apart for the smallest, most abrupt of reasons."

Ultimately, Turner purchased Bleacher Report for ~ $200 million. After raising $40.5 million, each founder only owned a sliver of the company. But that sliver was still worth more than most people make in a lifetime. 

What's that life-changing moment like for a founder?

It's a multi-phase, emotional roller coaster.

Phase 1: Relief and Disbelief

Most founders, like Goldberg, feel relieved then euphoric when their companies sell. It takes a while for reality to set in, even after the money hits their bank accounts.

Charles Forman, the founder of gaming company OMGPOP, experienced disbelief. His acquisition came more suddenly than Bleacher Report's.

Forman left OMGPOP in the hands of his colleague, Dan Porter, to start a new venture. When Porter told Forman about a ~$200 million acquisition offer from Zynga, it was unexpected. The offer stemmed from the abrupt success of an OMGPOP mobile game, Draw Something, and Forman only had $1,700 to his name at the time. 

The acquisition news came as such a surprise, it put Forman in a daze. He wandered aimlessly into the roadand almost got hit by a car. 

"I walked across the street, and all I heard was ‘honk,’" Forman told the New York Times then. “It was surreal.”

While a thicker wallet is nice for startup founders, telling employees about an acquisition can be even more rewarding. 

Phase 2: Tears, Vegas and "That's It!?"

Wiley Cerilli, the founder of a business management tool Single Platform, remembers calling one of his executives, Kenny Herman, with good news. Constant Contact had acquired SinglePlatform for $100 million in cash, stock, and employee incentives while Herman and his wife were away on their honeymoon. While the couple was still in the airport, Cerilli told them they were millionaires. The couple spent the next few minutes embracing.

Dan Porter also remembers delivering acquisition news to OMGPOP employees. There was a celebration at the New York City headquarters which involved popping open a bottle of champagne. Porter then sat down with each employee and told them how much money they had made. An entire day of work was then dedicated to paying off debts, like student loans and mortgages. 

Goldberg recalls mixed reactions from Bleacher Report employees. Bleacher Report's executives distributed paperwork to them that stated the number of shares each owned and the share prices. Two calculators were made available so employees could punch in numbers and determine their new net-worths. Some were ecstatic and wrote the founders thank-you notes; others expressed disappointment.

"People were texting their boyfriends and girlfriends," Goldberg says. "Some people's reactions were like, 'Oh my God, this is more than I ever could have imagined.' Some people were like, 'That's it?!' You never knew what it was going to be."

Later, Bleacher Report employees took an unofficial, un-sponsored company trip to Las Vegas. Cerilli and the SinglePlatform team took one, too.

Phase 3: Remorse and Nostalgia

No matter how rich a founder becomes, the acquisition high doesn't last forever. Once it's over, some founders feel remorse.

"When the money hit the bank account, I was just relieved that this grueling eight-month process was over," Goldberg recalls. "Then you realize, I don't own this [startup] anymore, which is a very powerful feeling.

Then you realize, I don't own this [startup] anymore, which is a very powerful feeling.

 You go on the website and it just occurs to you, 'This isn't mine and it doesn't belong to me in any way other than from a sentimental standpoint.'"

One founder who was left bitter likened his acquisition to getting hit by a car, then getting disability money for a hurt leg. While he admits the money is nice, all he wants is his healthy leg back.

Another founder, Josh Abramson, has had years to reflect on his acquisition. Now he just feels numb.

"The moment we sold felt great," Abramson recalls. "It was something I'd been working so hard to accomplish for years. I was basically jumping up and down for weeks. The excitement of having the liquidity lasted about 6 months, then it just felt normal. My life didn't really change at all."

Abramson co-founded College Humor in his University of Richmond dorm room. College Humor sold a 51% stake to IAC for $20 million in 2006. IAC also got two of College Humor's other brands, Vimeo and Busted Tees, in the sale.

Abramson says he has no regrets about selling his company, although it's sometimes tough to hear Vimeo's current valuation.  

"I feel sort of numb about it at this point," he says. "[Selling the majority stake in College Humor] is the single most important financial decision I've made in my life so far and I made it as a 24-year-old. I don't regret the decision — I still think it was a smart thing to do at that time ... As you can probably imagine, it's the kind of decision that gets replayed in your head every now and again."

Phase 4: Back to Work, with Different Priorities

Once you've tasted your first startup win, most founders don't crave retirement or a beach. Instead, founders long for the madness of a startup all over again.

"I think with most founders, you want to work the rest of your life," says Goldberg. "I want to be working hard when I'm 80 and having money doesn't really change that."

Goldberg has already started a new media company, Bustle. "I just knew that I had to find another endeavor because every time I go on Bleacher Report, all I can feel is, this isn't my baby anymore," he says.

Abramson agrees. He recently purchased Busted Tees back from IAC so he could run a smaller company again. This time, his priorities are different. 

"It's literally the biggest cliche that exists — but people still forget sometimes that money doesn't buy happiness," Abramson says. "I expected that selling my company would make me feel a certain way and it didn't. Obviously having financial security is awesome to a certain point, but I realize now that having a fun company with awesome people I enjoy spending time with does so much more for my day-to-day happiness than more money in the bank ever would."

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Kremlin Denies Rumors Putin Married 30-Year-Old Gymnast

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Vladimir Putin Alina Kabayeva

Following his recent divorce from wife Lyudmila, Russian president Vladimir Putin love life is once again the source of rumors.

In fact, things have gotten so bad that the Kremlin has had to specifically deny reports that he'd married 30-year-old gymnast Alina Kabayeva.

Throughout his 29 year marriage, there were been many rumors that Putin had a wandering eye, and back when he was working for the KGB in East Germany the country's spy agency reportedly described him as a "philanderer and a wifebeater."

This reputation followed Putin as he became Russia's most important man. In 2011 reports surfaced that suggested that Putin had put his rarely seen wife in a mental hospital, so that he could focus on alleged affairs with Kabaeva and his personal photographer Yana Lapikova. There were even crazy rumors of a dalliance with red-haired spy Anna Chapman.

These rumors seem to have been sparked again by a tweet from a former local official from the Caucasus last week:


(Rough translation: "I am told that Putin and Kabaeva married today in the Iversky Monastery. All of Lake Valdai cordoned off.")

This tweet was retweeted over 500 times, including by embattled opposition leader Alexey Navalny. Putin was in the area at the time, attending the annual Valdai summit.

However, in an interview with Izvestia today, Kremlin spokesman Dmitry Peskov specifically denied the rumors, saying that people should stop interfering with Putin's love life "to him and not interfere.”

"It is useless to call the rumors nonsense," Peskov said. "They did this a hundred times already. Rumors live, what can we do with them? But they have nothing to do with reality."

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