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They're Suffering too!
Posted: Fri Mar 02, 2012 9:19 am
by kalm
Gotta feel for these Wall Street guys. It's not like this is their own doing or anything.
Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country’s top 1 percent by income, doesn’t cover his family’s private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square- foot Brooklyn duplex.
“I feel stuck,” Schiff said. “The New York that I wanted to have is still just beyond my reach.”
The smaller bonus checks that hit accounts across the financial-services industry this month are making it difficult to maintain the lifestyles that Wall Street workers expect, according to interviews with bankers and their accountants, therapists, advisers and headhunters.
“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?”
Scheiner said he spends about $500 a month to park one of his two Audis in a garage and at least $7,500 a year each for memberships at the Trump National Golf Club in Westchester and a gun club in upstate New York. A labradoodle named Zelda and a rescued bichon frise, Duke, cost $17,000 a year, including food, health care, boarding and a daily dog-walker who charges $17 each per outing, he said.
‘Crushing Setback’
Still, he sold two motorcycles he didn’t use and called his Porsche 911 Carrera 4S Cabriolet “the Volkswagen of supercars.” He and his wife have given more than $100,000 to a nonprofit she founded that promotes employment for people with Asperger syndrome, he said.
While they aren’t asking for sympathy, “at their level, in a different way but in the same way, the rug got pulled out,” said Sonnenfeldt, 56. “For many people of wealth, they’ve had a crushing setback as well.”
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Re: They're Suffering too!
Posted: Fri Mar 02, 2012 9:21 am
by Cap'n Cat
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 9:33 am
by ASUG8
It's hard to shed a tear for the predicament this guy got himself into. Planning to ALWAYS get the bonuses and adjusting your lifestyle to that anticipated level of income is pretty stupid for some supposedly intelligent people. Bonuses are found money IMO. What the hell do you need 2 Audi's in NYC for anyway?
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 9:34 am
by Ivytalk
Screw 'em. Let 'em quit their country clubs and send their kids to public school. I'm a public school product, and look how I turned out!
I walked my own dog, do my own laundry and dishes, and drive two American cars (one 2 years old, the other 4). I am not into high-priced "toys". Frugality is good, and our kids seem to live within their means as well. I have no sympathy for whiners like that -- and my profession is full of them.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 9:38 am
by 89Hen
Ivytalk wrote:Screw 'em. Let 'em quit their country clubs and send their kids to public school.
Good idea. Then we can fire the 200 employees we have at our club and the 30 teachers and employees at our private school.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 9:38 am
by kalm
Ivytalk wrote:Screw 'em. Let 'em quit their country clubs and send their kids to public school. I'm a public school product, and look how I turned out!
I walked my own dog, do my own laundry and dishes, and drive two American cars (one 2 years old, the other 4). I am not into high-priced "toys". Frugality is good, and our kids seem to live within their means as well. I have no sympathy for whiners like that -- and my profession is full of them.
This why you're tolerated.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 9:44 am
by YoUDeeMan
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 9:46 am
by YoUDeeMan
Can't feel sorry for these guys...but I can't feel sorry for the poor either.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 11:03 am
by HI54UNI
Ivytalk wrote:Screw 'em. Let 'em quit their country clubs and send their kids to public school. I'm a public school product, and look how I turned out!
I walked my own dog, do my own laundry and dishes, and drive two American cars (one 2 years old, the other 4). I am not into high-priced "toys". Frugality is good, and our kids seem to live within their means as well. I have no sympathy for whiners like that -- and my profession is full of them.
+6.93
Why have a dog if you can't walk it yourself? What a frickin douchebag that guy is.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 11:27 am
by ASUG8
What are you talking about, Cluck? A little early to be hitting the bottle......
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 11:45 am
by Ivytalk
89Hen wrote:Ivytalk wrote:Screw 'em. Let 'em quit their country clubs and send their kids to public school.
Good idea. Then we can fire the 200 employees we have at our club and the 30 teachers and employees at our private school.
Go ahead, 89, make a statement!
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 11:50 am
by Ivytalk
kalm wrote:Ivytalk wrote:Screw 'em. Let 'em quit their country clubs and send their kids to public school. I'm a public school product, and look how I turned out!
I walked my own dog, do my own laundry and dishes, and drive two American cars (one 2 years old, the other 4). I am not into high-priced "toys". Frugality is good, and our kids seem to live within their means as well. I have no sympathy for whiners like that -- and my profession is full of them.
This why you're tolerated.
If you haven't read Tom Wolfe's
Bonfire of the Vanities for a withering (and hilarious) look at that self-indulgent Upper East Side liefestyle, I highly recommend it! An oldie but goodie from the 80s.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 12:55 pm
by UNI88
89Hen wrote:Ivytalk wrote:Screw 'em. Let 'em quit their country clubs and send their kids to public school.
Good idea. Then we can fire the 200 employees we have at our club and the 30 teachers and employees at our private school.
How's that any different than some middle manager who was just laid off cutting back on trips to the movie theater and dinners at TGI Friday's?
Let's see:
- private school tuition
- club memberships
- two automobiles
- pet services
- home improvements
- summer rental
Life's about choices and this guy has plenty of places he can choose to cut or reduce.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 1:16 pm
by Ibanez
My parents put 5 kids through Private school.
I have 6 animals (all rescues) and it doesn't even cost me $1,000 a year. I have no pity for those fucks.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 1:42 pm
by UNI88
Ibanez wrote:My parents put 5 kids through Private school.
I have 6 animals (all rescues) and it doesn't even cost me $1,000 a year. I have no pity for those ****.
That's because you take care of the animals yourself. If this guy were to do that, it would be quite the scandal and Biff and Muffy at the club wouldn't be able to associate with him anymore. He has to take his status into consideration. Bankruptcy is much preferable to the appearance of even a hint of poverty.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 1:47 pm
by Rob Iola
Ibanez wrote:My parents put 5 kids through Private school.
I have 6 animals (all rescues) and it doesn't even cost me $1,000 a year. I have no pity for those fucks.
Dude, it was a charter school and the only reason why you and your sibs got in was cuz your parents "accidently" checked "African-American" under race on the application...
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 1:57 pm
by BDKJMU
Yeah, I thought something was wrong with my laptop screen for a few seconds as I kept changing the angle...
But I must say
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 2:14 pm
by JoltinJoe
Dog walkers get $17 per outing?
How long is an outing?
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 2:18 pm
by Cap'n Cat
JoltinJoe wrote:Dog walkers get $17 per outing?
How long is an outing?
I don't know.
Jon, how long did it take you?
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 3:03 pm
by Ibanez
Rob Iola wrote:Ibanez wrote:My parents put 5 kids through Private school.
I have 6 animals (all rescues) and it doesn't even cost me $1,000 a year. I have no pity for those fucks.
Dude, it was a charter school and the only reason why you and your sibs got in was cuz your parents "accidently" checked "African-American" under race on the application...
i FUCKING HATE YOU!
And it was Eskimo you cunt stick.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 4:29 pm
by JoltinJoe
Ivytalk wrote:Screw 'em. Let 'em quit their country clubs and send their kids to public school. I'm a public school product, and look how I turned out!
I walked my own dog, do my own laundry and dishes, and drive two American cars (one 2 years old, the other 4). I am not into high-priced "toys". Frugality is good, and our kids seem to live within their means as well. I have no sympathy for whiners like that -- and my profession is full of them.
I'm with you 100%, and I try to impart those same values to my family, my children, and my servants.
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 4:32 pm
by Cap'n Cat
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 5:22 pm
by Ivytalk
Re: They're Suffering too!
Posted: Fri Mar 02, 2012 5:27 pm
by Cap'n Cat
