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Old 11-11-2011, 05:08 PM
 
Location: southern california
61,288 posts, read 87,413,299 times
Reputation: 55562

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#1 the wife files for divorce.
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Old 11-11-2011, 05:08 PM
 
Location: Free From The Oppressive State
30,253 posts, read 23,733,496 times
Reputation: 38634
Plus those types of people have typically invested their money and have a nice chunk of change sitting in their accounts. They aren't living paycheck to paycheck if they have million dollar homes.

Plus they have a nice network and will be able to land on their feet by pulling a few strings.

They'll be fine.
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Old 11-11-2011, 05:20 PM
 
Location: NJ
17,573 posts, read 46,141,127 times
Reputation: 16274
They make more and therefore should have more money saved up. It really should be no different than anyone else who loses their job.
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Old 11-11-2011, 05:22 PM
 
Location: Planet Eaarth
8,954 posts, read 20,680,179 times
Reputation: 7193
Quote:
Originally Posted by sas0814 View Post
After the announcement about MF Golbal laying off their entire workforce, I started thinking what happens to these people.

It always sad when someone loses their job, but the average person can somehow survive on unemployment because they didn't have much to begin with.

What about those high paid execs and workers in those NYC firms and companies that go belly up or bankrupt suddenly.

These are the people in my town that have million dollar homes, kids in private school and all kinds of other outrageous expenses.

How do they cope losing a six figure salary, with a stay at home wife that doesn't contribute financially.

I read the MF global people aren't getting severance, 401k's, and benefits are ending after November.

It's been happening a lot in NY and other big cities, but I only see stories of the low wage workers coping, not the wealthier ones.

What do they do?
Same as anyone else. Hope like hell they find another good paying job quickly but will take any job offered.
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Old 11-11-2011, 05:28 PM
 
24,488 posts, read 41,138,516 times
Reputation: 12920
Quote:
Originally Posted by Tightwad View Post
Same as anyone else. Hope like hell they find another good paying job quickly but will take any job offered.
Any relevant job offered. I doubt they would push carts at Walmart.
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Old 11-11-2011, 07:21 PM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,755,036 times
Reputation: 17831
Quote:
Originally Posted by sas0814 View Post
After the announcement about MF Golbal laying off their entire workforce, I started thinking what happens to these people.

It always sad when someone loses their job, but the average person can somehow survive on unemployment because they didn't have much to begin with.

What about those high paid execs and workers in those NYC firms and companies that go belly up or bankrupt suddenly.

These are the people in my town that have million dollar homes, kids in private school and all kinds of other outrageous expenses.

How do they cope losing a six figure salary, with a stay at home wife that doesn't contribute financially.

I read the MF global people aren't getting severance, 401k's, and benefits are ending after November.

It's been happening a lot in NY and other big cities, but I only see stories of the low wage workers coping, not the wealthier ones.

What do they do?
Go get this movie and watch it. It will answer your question. It is very realistic.

The Company Men - Official Site


'The Company Men' Trailer HD - YouTube

" Bobby Walker (Ben Affleck) is living the proverbial American dream: great job, beautiful family, shiny Porsche in the garage. When corporate downsizing leaves him and co-workers Phil Woodward (Chris Cooper) and Gene McClary (Tommy Lee Jones) jobless, the three men are forced to re-define their lives as men, husbands and fathers.
Bobby soon finds himself enduring enthusiastic life coaching, a job building houses for his brother-in-law (Kevin Costner) that does not play to his executive skill set, and perhaps -- the realization that there is more to life than chasing the bigger, better deal. With humor, pathos, and keen observation, writer-director John Wells ("ER," "The West Wing," and "Southland") introduces us to the new realities of American life.
What do you do when all the stuff you hold on to—that stuff people always told you mattered—is taken away? What do you do when you lose all those trappings you worked so hard for, that are supposed to be little emblems of success and achievement? These questions permeate The Company Men, the moving new feature film from acclaimed writer, producer and director, John Wells.
At first glance The Company Men seems inspired by the headlines. Indeed, the September 21st cover of TIME entitled "Out of Work in America," profiles dozens of Americans, now ten percent of the working population, hit the hardest by the current economic recession. They are, in essence, representatives of the lead character, Bobby Walker, struggling to rise above the frustration and embarrassment to find their way again.
Where The Company Men delivers well-beyond its newsworthy subject matter, is its astute exploration of the human spirit, not as a predictable or maudlin "man triumphs over tough odds" story but in the gripping push and pull of those at every level of the economic ladder trying to reconnect with the things that matter most in life."


from


About - The Company Men - Official Site
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Old 11-11-2011, 09:00 PM
 
13,005 posts, read 18,906,017 times
Reputation: 9252
The blow to the economy is greater because they can no longer afford private schools, luxury travel or high end services. The impact of several multimillion dollar homes, which take years to sell in the best of times, going on the market is huge.
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Old 11-11-2011, 09:04 PM
 
Location: Texas
44,254 posts, read 64,358,815 times
Reputation: 73932
Do what my dad did.
GO OVERSEAS AND WORK THERE.
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Old 11-11-2011, 09:10 PM
 
24,488 posts, read 41,138,516 times
Reputation: 12920
Quote:
Originally Posted by stan4 View Post
Do what my dad did.
GO OVERSEAS AND WORK THERE.
Why not just stay here and work?
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Old 11-11-2011, 09:20 PM
 
Location: Metro Detroit, Michigan
29,818 posts, read 24,902,718 times
Reputation: 28512
Quote:
Originally Posted by NJBest View Post
Why not just stay here and work?
Because over here wages are falling, along with benefits and anything else possible. We are fighting the race to the bottom, and your one health condition away from loosing everything you've worked your whole live for. The question is, why stay? My boss told me a few days ago when I asked, how do people retire in Germany where everything is so expensive and taxes are high? He said companies there take care of their workers and provide nice pension plans. How many workers here get pensions? Race to the bottom here, because companies can't provide high quality products. All they do is provide everything as cheap as possible by trimming wages and benefits. Sound like the kind of companies you want to work for?
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