CNN
March 12, 2002

BROWN: This story has been hovering around the edges of the NEWSNIGHT offices for a while, a bit too salacious for us to deal with until today. It's about Jack Welch, the former head of G.E., easily worth hundreds of millions of dollars. It's also about Jane Welch, his wife for more than decade, who's now filed for divorce after it became known that her husband had an affair.

Obviously, there's an enormous amount of money involved here. And while we do get that this is a bit tabloidy, there are also some pretty interesting and important issues to look at, too.

This isn't the first time G.E. has been the backdrop for a high profile divorce. Lorna Wendt went after an equal split when she divorced former G.E. executive, Gary Wendt. You need to be taking notes on this, folks.

She didn't quite get that, but she raised a lot of interests in the question of whether wives are treated as equal partners in marriage. And she's an advocate now.

And she joins us. And it's nice to see you. Thank you for coming in. Actually in the moments before, we were talking a little bit about this. Is it uncomfortable to find yourself, it must be, in a situation where other people, people like me, people in the street, people in radio are talking about your life, your money, your marriage, all of that?

LORNA WENDT, FOUNDER, INSTITUTE FOR EQUALITY AND MARRIAGE: Yes, it is uncomfortable. But in my own case, the principle that I was a partner in our marriage of a long-term marriage and the fact that my ex-husband had offered me such a small amount was actually an affront to me and what I brought to our marriage.

And so, I was fighting for what I believed that I had brought to the marriage. So when I talked about myself in that case, it wasn't about the nitty gritty of a marriage. Every divorce is sad.

BROWN: Right.

WENDT: No matter what the length of the marriage, but what resonated with the people on me was that it was someone who stood up for themselves and especially resonated in the corporate world, because I knew about the stock options and all of these things that the money is really high money involved.

BROWN: But it's never like just what's in your savings account. It's a lot of other things. I heard you earlier talking today about the importance of prenuptial agreements. And my first reaction to that, was that -- I always thought that prenups were sought by the partner with the money, which is more often than not still the man, as a way to protect his assets from an equal split.

WENDT: Well, that's probably what prenuptials -- and many, many years ago, it was often the family that had the money, that was protecting a marriage. It really just means before marriage. And what I and the Institute for Equality in Marriage advocate, now I did not have a prenuptial.

BROWN: Right.

WENDT: That was not in...

(CROSSTALK)

BROWN: Yes.

WENDT: ...the lexicon of how I grew up.

BROWN: Right.

WENDT: But I would advise everyone today, whether they have money or not, to enter into a prenuptial. And by that, I mean, basically, the conversation that you are going to have with your spouse to be. Am I an equal partner in this marriage that we're about to enter? How are we going to raise the children? It's really a vehicle for communication.

BROWN: But if you're the partner who is at home, the partner who doesn't have the paying job, and the marriage goes south, why not take your chances in court if you can get 50/50, what the heck. If you get 60-40, I mean why bargain beforehand?

WENDT: Well, I tell you, most courts -- first of all, most marriages don't end in divorce go to court.

BROWN: Right.

WENDT: It's usually the ones that have got some kind of money or something involved. To me, I think it's a way to discuss, first of all, and if there's a red light that goes on before you ever enter into a relationship. Now right now, you and I are talking about first time marriages, because there's a difference in second and third marriages.

It would seem, and what I advocate is let's discuss this open. And you know, you wear a seat belt in hopes that you're into the going to have a car crash.

BROWN: Yes.

WENDT: Wouldn't it be better to discuss these things? And to me, it would just be the absolute trust that I'm putting into you, as my potential partner and to turn it around that way, as I believe. And I want to work for this marriage, but if it doesn't work out, let's now bust decide, instead of letting a judge...

BROWN: Sure.

WENDT: ...who we don't know and doesn't know us decide.

BROWN: Yes. I heard or at least read a statement from the Welchs saying they hope they could work this out amicably. So do we.

WENDT: Yes.

BROWN: Thanks for coming in.

WENDT: Thank you.

BROWN: Nice to meet you. Thank you very much. When with we come back, the spy museum. This is NEWSNIGHT from New York.