Comments on: Jobless Execs Face Tough Lifestyle Changes

CBS Evening News: With 88,000 Finance And Insurance Jobs Cut Since April, It's A Buyer's Market

[debinok1]

What irks me most is these are the same scumbags who had no problem bilking our savings, our retirement funds and our pocketbooks over the last eight years to line their pockets and then when their several hundred thousand and up severance pay runs out it''s "oh poor pitiful me", and we are supposed to pat them on the back and let them cry on our shoulder. I DON''T THINK SO!!!

[lloydbest1]

Posted by ddood12340 at 10:35 PM : Jan 23, 2009
Posted by ddood12340 at 10:51 PM : Jan 23, 2009

I was the one who suggested "Russ" volunteer at a soup kitchen and I take strong exception to your offense of the majority of posters showing a lack of sympathy.
Before you go off and blast the rest of us for criticizing a man whose financial behavior appears to be little or no better than some schlepp who bought way more house than he can afford, then used the equity in it as an ATM; you might consider that many of us now have no jobs, no pensions, no 401K''s and no prospects largely because of the financial blunders, miscalls and outright fraud that "Russ''s" peers and maybe he, himself committed.
And you have the nerve to scold us for lashing out??? Shame!
Oh, and by the way, I was also the one who hoped he didn''t end up like a lot of us are likely to - in a homeless shelter or a bread line

[whitemale08]

I said 3 months ago to one of the people posting on these boards:

"...what are you talking about, starting Oct. 1st you are about to lose everything you have".

I meant that literally.

What people failed to see is that our economy is fundamentally flawed because it''s based on this British concept of Adam Smith and his ''invisible hand''.

Adam Smith was British and so was Lord John Maynard Keynes who were basicly sales agents on the British model of ''free marktet'' i.e. looting.

Our economy used to be an ''American Economic System'' where our currency is sound and only used as ''medium of exchange'' not ''store value''.

Because our entire economy has been corrupted by the British model of imperialism/looting we are now reaping the results of what scripture says: "A house built upon sand will not stand".

Folks, you cannot have an economy with over 300,000,000 people depend on a ''financial sector'' like England or Switzerland.

Unless we understand this very fundamental fact and REJECT British economic models of fiat-finance then we will disappear as a nation and turn into another banana-republic ripe for looting and exploitation.

[debinok1]

You clearly have no idea what your talking about because if you watch the video it says his severance package ends next month not that he blew his severance package in 9 months. You need to do two things, 1 dont talk smack about stuff you dont know what your talking about and 2, you need to grow a heart.

Posted by ddood12340
*********************
Same difference. His severance runs out, they have obviously NOT been saving it or they would not be worried about bills. Nine months later he is still out of work, too good to take a job that doesn''t fit his qualifications? He is not going to find another job like he had. He needs to be an adult and take what he can get. They have a decent income with his wife working and still can''t make it? They have not learned to cut back on how they live or her income would be enough until he does find something. I have a heart, just not for people who refuse to accept that they wont always have a six figure income and deal with it.

[jizzumjim]

i can hardly sniffle back my tears.

[ddood12340]

You clearly have no idea what your talking about because if you watch the video it says his severance package ends next month not that he blew his severance package in 9 months. You need to do two things, 1 dont talk smack about stuff you dont know what your talking about and 2, you need to grow a heart.

[debinok1]

I dont agree with anything that anyone has said here. Personally I feel you all sound like pricks and ***. This man has lost his job and you are all basicly trashing him. Im sure this guy worked hard to get were he was at and was very desserving or his job at standard and pores. You guys are all scums and should find something more productive to do with your time than to trash out of work men. May I suggest for the guy that suggested for him to work at a soup kitchen, that you should work at a soup kitchen..maybe you would learn some compassion.

Posted by ddood12340
********************
I have compassion for anyone who deserves it. He blew his severance pay in nine months time. Instead of cutting back and saving, he maintained a lifestyle he could not afford after he lost his job putting the shaft to America. People like that do not need compassion they need a reality check.

[ddood12340]

I dont agree with anything that anyone has said here. Personally I feel you all sound like pricks and ***. This man has lost his job and you are all basicly trashing him. Im sure this guy worked hard to get were he was at and was very desserving or his job at standard and pores. You guys are all scums and should find something more productive to do with your time than to trash out of work men. May I suggest for the guy that suggested for him to work at a soup kitchen, that you should work at a soup kitchen..maybe you would learn some compassion.

[random_radar]

Previous Position: As executive of a multi-billion dollars investment firm, ran the company into the ground and lost hundreds of billions for retirees, middle class families, and charities.

Desired Position: Looking for a dynamic opportunity to leverage my sterling leadership and planning skills as a top-level executive in running another multi-billion dollar company into the ground for fun and for profit.

[batai37]

I can''t make up my mind...was this a schadenfreude piece or a genuine attempt at eliciting sympathy?

Either way, it was a waste of air time and bandwidth.

There are plenty of real working people out there in a lot worse shape who didn''t get nice severance packages when they lost their jobs. Too many of those who still have a job can''t save anything because their wages have essentially stagnated, while people like this schlep made out like bandits during the good times and apparently didn''t have the common sense to put any of it away for the hard times.

This guy must not have been much of financial problem solver to have found himself in this predicament.

Oh O.K., I''ve made up my mind. This was DEFINITELY a schadenfreude piece for me.

[gce65]

I have to sympathise with most of the other commenters on here. So an exec gets laid off, he''s just joining many other non-execs laid off before him. Is this the TV news version of what poor is supposed to be? At least this guy and his (now-working) wife HAVE a house...and cars...and laptop computers for their kids to do homework with on their granite countertops. Get real!

[debinok1]

Somehow I just cannot summon the sympathy for him they seem to think I should. He had a good job, good enough that his wife could be a stay at home mom. When most families have both parents working at least one job full time and usually one working an extra part time job just to make ends meet. Single parents working two full time jobs. Nope no sympathy for this hack that is at least partly responsible for the financial mess we are all in.

[veraxi]

I agree with most of the comments made here, the family should understand that they were living super well and now, because of the wrong her husband did, knowingly or not, they need to cut back and even move.

Not so sure if CBS wanted to expose them or make us feel sorry for them, but the overall tone of having the woman have to go back to work for a job that pays at least 60k/year is made it sound like it was major blue collar work at slave wages. It could have been said/written better stating that "she gets paid better than the mean for NJ but at a fraction...etc."

CBS needs better writing addressing issues sensitive to people and not "glamorize" how the upper crust is ''suffering''.

[batai37]

I can''t make up my mind...was this a schadenfreude piece or a genuine attempt at eliciting sympathy?

Either way, it was a waste of air time and bandwidth.

There are plenty of real working people out there in a lot worse shape who didn''t get nice severance packages when they lost their jobs. Too many of those who still have a job can''t save anything because their wages have essentially stagnated, while people like this schlep made out like bandits during the good times and apparently didn''t have the common sense to put any of it away for the hard times.

This guy must not have been much of financial problem solver to have found himself in this predicament.

Oh O.K., I''ve made up my mind. This was DEFINITELY a schadenfreude piece for me.

[lloydbest1]

"Russ" could do some volunteer work. Perhaps at a soup kitchen, a homeless shelter or as a school aide. Such work is not deflating and it will give him a first hand look at how the "other America" lives. It ain''t pleasant and although I sincerely hope he doesn''t join the homeless or need the soup lines, I simply can not work up a whole lot of sympathy for him, either.
The article mentions his wife working as a surgical nurse and making only a fraction of what he did. Well, since a good nurse specializing in surgical procedures can command up to $70000 salary, then "Russ" was making way too much money to start.
About out of his severance package? Gee, If I had half of what I suspect he got I could live off the intrest quite comfortably even if I stick it in a passbook account and get only 1.5% interest.
But I live simply and there is no shame in that.
I might be unfair but I know such mid to high level executive types often overspend their already over inflated incomes and do not put enough aside for rainy days such as this one.
Case in point is the "sprawling suburban New Jersey home". He could have settled for a 2100 sq ft house on a third-acre lot in a nice residential neighborhood and saved a bundle on down payment, mortgage and insurance.
It''s not too late. "Russ" should downsize now where he can because it''ll be years before the economy ever gets back to the point where he can score the kind of work he once did and command the kind of salary he once had.

[daporter99]

So Laura has to "trudge off to work as a surgical nurse!" TOO BAD! Does she think that her salary as a nurse WOULD EVER ALLOW HER TO LIVE IN A HOME SHOWN ON YOUR BROADCAST ? This is a great example of how our priorities are backward.
As a nurse of 29 years I''m insulted over and over again by the lack of recognition for those of us responsible for caring for human life.

[stinginrich]

Damnn.....down to his last $10 Mil, huh???.....
There''ll be no more Caviar and Lobsters served on Golden Platters at his house......(they''ll have to use the Silver instead)......Poor Shmoe.....*sniff*...

[jsd330]

I really feel for this guy, big house, suv 6 figure salary probobly never put a penny aside. Figured only the blue collar guys get laid off. I''ve seen this type and when the bottom does drop out, they have no idea what to do. That big house will end up being forclosed. I''m glad these wall st. bankers are getting a taste of their own medicine.

[omega40]

Boo hoo! Now they know what the people were feeling when wall street''s greed demanded jobs be outsourced to prop up a bottom line somewhere. Hopefully these people will become accustomed to working three jobs just to maintain a minimal standard of living.