Your tip
RadarOnlineRadarOnline
BREAKING NEWS

What If Everyone Got Fired?

Oct. 27 2008, Published 7:07 a.m. ET

Link to FacebookShare to XShare to FlipboardShare to Email
Getting your Trinity Audio player ready...

AMEX DISAGREES It's going to be a bleak Christmas for rich people—for those actually still employed, Wall Street bonuses will be down 30 to 40% this year, which means high-end real estate market stagnation, a bad holiday season for Bergdorf Men's, a slow end of year for parfumeries and high-end moisturizer companies, more tables open at peak hours at Craft—well, all manner of good news for the upper middle class, who can continue to live in a pleasant fuzz of denial as they aren't completely overspending. After all, 75,000 jobs have disappeared so far, making this the most brutal Wall Street cycle in recent years. (From early 2001 to mid-2003, 60,000 jobs were lost in and around Wall Street.)

MORE ON:
Breaking News
Article continues below advertisement
Advertisement

DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.

More From Radar Online

    Opt-out of personalized ads

    © Copyright 2024 RADAR ONLINE™️. A DIVISION OF MYSTIFY ENTERTAINMENT NETWORK INC. RADAR ONLINE is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.