Bloomberg's Max Abelson takes us deep into the spectacle of members of Wall Street's 1% bemoaning their difficult straits as they struggle to make ends meet with their reduced bonuses. One doesn't know how he'll tell his children that they can't go to an exclusive private school anymore, another bemoans his mere 1200sqft New York apartment, and a third is gutted at the thought that he and his family no longer toss away the coupon circular that is left in their doorway -- now they glance at it!
“People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. “Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”
...“They have a circular that they leave in front of the buildings in our neighborhood,” said Arbeeny, 49, who lives in nearby Cobble Hill, namesake for a line of pebbled-leather Kate Spade handbags. “We sit there, and I look through all of them to find out where it’s worth going.”
...The malaise is shared by Schiff, the New York-based marketing director for Euro Pacific Capital, where his brother is CEO. His family rents the lower duplex of a brownstone in Cobble Hill, where his two children share a room. His 10-year- old daughter is a student at $32,000-a-year Poly Prep Country Day School in Brooklyn. His son, 7, will apply in a few years.
“I can’t imagine what I’m going to do,” Schiff said. “I’m crammed into 1,200 square feet. I don’t have a dishwasher. We do all our dishes by hand.”
Wall Street Bonus Drop Means Trading Aspen for Discount Cereal
The China Law Blog (previously) is one of my favorite sources of insight into the secret workings of the businesses that produce the majority of the world's daily-use goods.
Petition demands recall of 500,000+ cars over alleged defect Electric car maker Tesla said on Monday there was no unintended acceleration in its vehicles, as petition signature-gatherers demanding a federal safety investigation have claimed.
Frontier is the bottom-rung of the top-tier of US ISPs, serving customers in 29 states. Despite enjoying monopoly control over its customers' online lives, and despite massive government handouts and a lackadaisical approach to maintenance, and despite out-and-out theft from customers, the company is filing for bankruptcy, having accumulated $16.3b in debt through mismanagement.
When it comes to immediately grabbing a reader’s attention in any medium, few things are more important than picking the perfect font—regardless of whether you’re advertising your brand online or in print. The MyFonts Monotype Fresh Font Bundle offers over 50 handcrafted fonts from one of the world’s most revered typeface companies, and it’s available […]
We’re all guilty of constantly staring at a variety of screens throughout the day. The only problem is that the blue light that’s emitted by most electronics — and even energy-efficient lightbulbs — is notoriously bad for our eyes and, subsequently, our health. Here are three glasses that offer superior protection for your eyes both […]
From OneDrive to Slack, there are numerous ways to store files online. Because many platforms offer a certain amount of free storage, it makes sense to mix and match. However, spreading your files across multiple apps can make things very confusing. Rethink Files offers a simple solution. By connecting to all your other cloud storage […]