As long as I'm blogging about class...
Some trustafarians are feeling the recession. For instance, one poor guy is having to downscale his condo ambitions:
Eric Gross, 26, a construction worker, was going to buy, with help from his father, a $600,000 one-bedroom condo with city views at Northside Piers, a luxury building, he said.
So Mr. Gross is scaling back, shopping for a $300,000 apartment, said his real estate agent, Binnie Robinson of AptsandLofts.com.
Yet others are even worse off. Yes, some are actually looking for a job:
Luis Illades, an owner of the Urban Rustic Market and Cafe on North 12th Street, said he had seen a steady number of applicants, in their late 20s, who had never held paid jobs: They were interns at a modeling agency, for example, or worked at a college radio station. In some cases, applicants have stormed out of the market after hearing the job requirements.
“They say, ‘You want me to work eight hours?’ ” Mr. Illades said. “There is a bubble bursting.”
Must have been nice to be able to make it to your late 20s and not have to support yourself. Surely there's a bailout forthcoming for these people.
I was equally horrified by the article in the NYT about the large, financially oriented New York law firms. Like many other businesses, they are being forced to make cutbacks, and they have lost a lot of business. The beginning of the article focuses on layoffs of young lawyers and other expected things. But apparently I was also supposed to have a lot of sympathy for the partners in these huge firms, who are supposedly taking a big hit. The example given said that the partners, instead of being paid 1.3 million a year were only being paid 1.2 million this year. Poor babies.
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Thanks for the link. It is certainly difficult not to feel some schadenfreude.
ReplyDeleteOn the other hand, I've got to give Bill Gates some credit for trying to get other billionaires to give most of their fortunes to others:
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