NYTimes Columnist Thomas Friedman down to last $25 million

[jwmorrice]

http://www.vanityfair.com/online/politics/2008/11/thomas-friedmans-world-is-flat-broke.html
Vanity Fair
Thomas Friedman’s World Is Flat Broke
by Peter Newcomb
November 12, 2008, 5:42 PM

It would be easy to dismiss today’s rant (however spot-on it might be) by New York Times columnist Thomas Friedman as yet another ideological tirade against the U.S. automobile industry. But based on the bad news coming out of shopping-mall owner General Growth Properties [GGP], it is no wonder Friedman is feeling crankier than usual. That’s because the author’s wife, Ann (née Bucksbaum), is an heir to the General Growth fortune. In the past year, the couple—who live in an 11,400-square-foot mansion in Bethesda, Maryland—have watched helplessly as General Growth stock has fallen 99 percent, from a high of $51 to a recent 35 cents a share. The assorted Bucksbaum family trusts, once worth a combined $3.6 billion, are now worth less than $25 million.

But don’t expect Friedman to go from Beirut to Jerusalem begging for money. The distinguished columnist (and former New Establishment member) is still said to get at least $50,000 per speaking engagement on top of the millions he makes writing best-sellers

 

[Mia.Colpa]

Sucks doesn't it.

 

[Rockslinger]

This recession has been tough on many people. My broker said that his Private Clients folks are telling him that a bunch of clients no longer meet the financial threshold to be a private client (time to lower the threshold?).

 

[W3bster]

This recession has been tough on many people. My broker said that his Private Clients folks are telling him that a bunch of clients no longer meet the financial threshold to be a private client (time to lower the threshold?).

Wow, that takes a lot of balls. To have all these clients' assets that vapourized under your watch, and then to have the gall to tell them they don't meet the threshold. 2008: investment bankers/brokers are the new lawyers...what do you call 20,000 investment bankers under the sea?...lol. The chaos probably maintains/creates a decent amount of jobs but I'm sure a lot of people will be turned off by the industry.

 

[Gyaos]

It would be easy to dismiss today’s rant (however spot-on it might be) by New York Times columnist Thomas Friedman as yet another ideological tirade against the U.S. automobile industry..... The distinguished columnist (and former New Establishment member) is still said to get at least $50,000 per speaking engagement on top of the millions he makes writing best-sellers

And GM has hired a South Korean company to make engines for the VOLT. Couldn't find an American company, I see. All out of work. Not as if the Koreans hire anyone other than their own race, in Korea.

Gyaos baltar.

 

[Rockslinger]

Not as if the Koreans hire anyone other than their own race, in Korea.

Doesn't Korea outsource labour to China nad Mexico?

 

[Don]

Doesn't Korea outsource labour to China nad Mexico?

True, LG has several factories in Mexico.