CEO 750,000 a year To 7,50 an hour pizza man

Nathan, the video loads automaticlly for you or it should anyway...
I'm not sure how to embed video in the forum...

I would have have thought a bigtime businessman like that would
atleast look at other ways to make money...

--David

Now that sucks... It must be very tough for him now!

Well, the Army is always hiring

However, that's how I ended up in this beautiful place lol.

Maybe HE'S the owner and he laid off his staff or his staff quit on him and he had to help out in a pinch.

In denial. They have this hope that at some moment, just around the corner, their old life will be waiting. They aren't ready to move on just yet.

It is very similar to someone who has lost someone dear to them, whether through death, divorce, or a child that has run away. Some people just have a harder time letting go of the way it used to be and think that it can be the same again if they hold on just a bit longer. Things are going to turn around.

He takes a job that is just a temporary solution and a "bridge" to the new job or career opportunity that is sure to come. They are also having to deal with a lot of pride issues as well, most likely. Moving from the big house to the poor house can be a huge self image killer, for them as adults but also for their kids. It's bad enough that he lost his job but having to leave that whole world behind can be another wound entirely.

Most likely he (or his wife) is trapped into this idea that he has to find a 'job' and doesn't know how to use his knowledge and experience or the connections he gained over the past many years to create a new opportunity.

He'll probably get a job offer as a result of the TV segment but it will be nothing close to what he had or is capable of doing on his own. It will be more than a pizza delivery man, though.

i think there is some truth to that. a book deal and tv mini drama are sure things. plus i'm willing to bet he got some money just from that show and will be getting invites from other talk shows looking for a good 'human interest' story to capitalize on how much the economy is hurting the every day former millionaire.

15 minutes of fame will allow him to go into debt just a little bit more.

Yeah ... the guys brilliant!

Paid $750k a year for how long? and now he's delivering pizzas?

I call BS on something somewhere ... Seems to me he was way over paid if he cant roll out of a job @ $750k a yr and have to resort to delivering pizzas!

He didnt see the writing on the wall? Kept the house and didnt pay the mortgage for 2 yrs? Kept the kids in private schools?

1. How do you make $750k a yr and piss it all away on "lifetsyle" BS?

2. Earth to McFly ... savings?

3. Dump all the extra crap on ebay, like the rest of the world who lives in reality would have to do.

A wealth of knowledge? On what NOT to do.

$750k a yr and now Im broke ... ohh woe is me ... Screw that guy. There are millions of families in America and elsewhere getting bye just fine on fractions of what those idiots spent on sushi lunches in a year.

Delivering pizzas is what this former high powered brainiac has ended up doing? Thats the best this dude has got left in the tank? Bahhhh....

No wonder hes still unemployed and delivering pizza. How totally and utterly unimagineative and frankly - straight up... IN THE BOX - STUPID is this guy? Thats his problem solving skills during tough times?

So NOT impressed.

Maybe it just pisses me off that he hasnt paid his mortgage for 2 yrs and gets to stay in the pad.

Guys, isn't the real world full of these stories but since the downturn
of the economy they are getting more media play....

Maybe it some kind of stunt by the TV stations to use the bad economy
to their advantage and create stories like this with the big CEO loosing
his home soon and all that!!!

--David

Yes, I believe it is a publicity stunt. If it is genuine, it can still be turned into a money maker.

1. First of all, realize the point of the story is to get people to talk about it. If they said "Here is a guy, who although he has a bunch invested in mutual funds, a diversed portfolio, with his home fully paid off -- but with the savings he had, spent it" -- would you be interested in hearing about it? No. It is more 'sensational' how it is written.

2. Realize everything you read in print and/or see on t.v. MIGHT NOT ACTUALLY BE TRUE! Now I'm not saying that this story isn't -- but media has been known to take 'artistic' liberty when reporting on the "news".

3. It could also be designed to make the "average joe" feel 'sympathy' for the millionaire that has 'screwed' them (of course there are a lot of "good" millionaries -- but if you recently heard about AIG's "bailout" package and how some people decided to "pay" themselves $76 million in bonuses, or the politician that decides it's time for a 100% pay raise this year because they went to two meetings instead of one this year) -- then it puts it a little more in context. Another spin might be it is designed to make the "average" joe "afraid" -- afraid of questioning bailout packages, afraid of questioning his position in society, etc -- because he should be 'grateful' for the money/job that he 'does' have. So -- instead of asking politicians "Why did you just give billions of dollars to a car company that sells stuff that people don't need, designed cars to break down ('forced obscelence') so people turn to foreign cars that last longer, doesn't listen to customer requests" -- and instead just gulps down whatever information they are fed, grateful that they have a job.

4. At the very least, this is an excellent jumping point for this particular guy. He can spin it into talk shows, speaking engagements, a book deal, his own website, etc, etc -- so that he won't have to worry about funds.

5. Donald Trump comes to mind as an example of a "billionaire" who "allegedgly" lost pretty much everything he had when he was getting divorced from his first wife (in reality according to a few books he decided to spend/invest pretty much most of his money in a number of investments that would not pay off until his divorce was finalized -- so "technically" he was broke during his divorce -- but as soon as it was over he saw millions in dividends from his efforts).

Bottom line -- for this particular guy -- unless he got his position because of nepotism -- he is not stupid -- and he can turn it around.

What a story?

I am sorry for the poor guy

But how could someone making so much money per year end up so much in dept?

He needed some money management skill.

Ask them if they would like to go for a ride in your new Ferrari when they get home from work.


~JoeCool

I tell them I can't afford the pay cut.

There's nothing obvious about his situation at all. If this story were a boat, it would sink in 20 seconds due to all the holes. He may have to settle for a pizza delivery job, but it ain't because that's the only job available.

I feel little sympathy for the guy.

Bruce,

An anonymous donor coughed up some dough to keep his kids in school.

He was a high ranking exec with a company and then decided to venture
out and start his own company. When he did so, he had almost 500K in savings.

2 years later -- It is gone. Between trying to get a business going and supporting his family and paying for credit bills in excess of 100K plus his
home he is now broke.

Unfortunately, for some Job Titles there just isn't any demand and even fewer companies that are willing to higher people for a considerable salary.

I ran a mobile home dealership here in Delaware for a couple years and was making 100K plus just in commissions. Unfortunately, when the credit companies started to shit the bed, we were forced to close down.

Luckily, I got this going about 6 months before that started to happen so I didn't really feel it as much as some of the people that I worked with.

It's tough seeing guys with families go from making 100K and being able to support their families to being on food stamps and having their vehicles repossessed.

This shitty economy is hurting a lot of people.

He should have saved his money.

As stated a few times, this is an example of constantly spending more than you earn year after year driving yourself further into debt. When problems happen, you are toast.

I admire him for trying his own thing and all, but it would seem that you would try to pay off your debts and have something set aside to take care of expenses in case you completely fail altogether.

He might be good with other people's money, but he's horrible with his own.

I find it amazing that they would get food stamps before selling the jet skis in their garage.

Funny how ABC News has decided to run with THIS story...Yahoo too...

Are we supposed to feel sorry for this guy? Making all that money and then couldn't cut back when things got tight....he tried to get out of a hole by digging to the other side of the earth. Stop digging, chief!

The psychology involved here is absolutely stunning. People seem to have such an easy time adjusting from being poor to be rich, but when you ask them to lower their standard of living a notch from extravagant to luxurious....they CAN'T seem to do it.

Still living in that huge house and on food stamps...

Can't bear the thought of sending their children to public school with the rest of the "peasants"...

I can't figure out what makes me cringe more, this guy and his obviously not-working trophy wife or the way ABC News acts like this is the type of guy we should all be sorry for....and not the people out there really struggling.

Alot of use know people like that. People who work 2 or even 3 jobs(which George Bush called "uniquely American when talking to a divorced mother of 3 working 3 jobs - as if it were a GOOD thing) and live month to month, if not week to week.

But THIS is the guy we're supposed to "feel" for because he and his wife lived way beyond their means and weren't smart enough to think ahead....?

Please...


PS - I'd also be interested to hear about this man's background, because it may have something to do with his current situation.

I 've been poor, and it sucked. But what it did do was instill in me a REAL sense of value. Even though I'm doing much better now, I've still kept most of my frugal ways.

It almost seems to me that part of the problem in this country right now is too many people lived thru the BOOM times for so long, they've lost that real sense of value and now that the boom is over, they don't seem to know how to shave away all that EXCESS they grew so accustomed to.

Rant over.

Funny how ABC News has decided to run with THIS story...Yahoo too...

Are we supposed to feel sorry for this guy? Making all that money and then couldn't cut back when things got tight....he tried to get out of a hole by digging to the other side of the earth. Stop digging, chief!

The psychology involved here is absolutely stunning. People seem to have such an easy time adjusting from being poor to be rich, but when you ask them to lower their standard of living a notch from extravagant to luxurious....they CAN'T seem to do it.

Still living in that huge house and on food stamps...

Can't bear the thought of sending their children to public school with the rest of the "peasants"...

I can't figure out what makes me cringe more, this guy and his obviously not working trophy wife or the way ABC News acts like this is the type of guy we should all be sorry for....and not the people out there really struggling.

Alot of use know people like that. People who work 2 or even 3 jobs(which George Bush called "uniquely American" when talking to a divorced mother of 3 working 3 jobs - as if it were a GOOD thing) and live month to month, if not week to week.

But THIS is the guy we're supposed to "feel" for because he and his wife lived way beyond their means and weren't smart enough to think ahead....?

Please...


PS - I'd also be interested to hear about this man's background, because it may have something to do with his current situation.

I 've been poor, and it sucked. But what it did do was instill in me a REAL sense of value. Even though I'm doing much better now, I've still kept most of my frugal ways.

It almost seems to me that part of the problem in this country right now is too many people lived thru the BOOM times for so long, they've lost that real sense of value and now that the boom is over, they don't seem to know how to shave away all that EXCESS they grew so accustomed to.

Rant over.