Friday, February 16, 2007

The Entitlement Mentality

From CNN Finance, we have a "touching" story about Living in the anxiety economy.

Not so long ago Corey Sarti earned $75,000, plus bonus, as a logistics manager at a software maker. His wife, Holly's home business kicked in a little extra, affording them a comfortable lifestyle in Stewartstown, a small Pennsylvania town near the Maryland border where the couple grew up.

Raising three children and covering a mortgage and two car loans was well within their means.


Three kids, a mortgage, and two car loans on $75K.

How can this not end badly?

But when Corey, 30, was laid off last October, everything changed.

"I started looking for a job immediately," said Corey, who uses Web sites and the career coaching services negotiated as part of his exit package. "I've gone on 5 or 6 interviews. And gone through second interviews but the offers have been in the $45,000 to $50,000 range with no bonus. It's too far of a step backwards."

For now, "We have enough to pay the mortgage and electrical bills," said Corey. "That's about it." The only other cash coming in is $300 a week in state unemployment benefits.


You only have $300 coming in, and you turned down a $45K job?

Logistics manager is nothing more than a fancy title for inventory manager + shipping clerk. Probably a piece of fancy software, and a kid out of college could do it.

Holly, 29, had quit her job as a graphic designer for a local printing company after the birth of their youngest son, Jayden, now nearly 2. For a side gig, she bought her mother's business, a company that customizes sports clothing for local schools and Little League teams.

It has become full time, and Corey helps her with it. But because it's the first year running the business, he's not sure how much it will clear.

In addition to Jayden, the couple have two daughters: 13-year-old Brittany, who is in junior high, and 10-year-old Makayla.

Corey's savings are "depleted," he admitted. Yet, the expenses just keep rolling in.


You've popped out three kids before you were 30; no real savings to back it up.

What is this? The Brady Bunch?

Corey feels that the local market has few positions for someone with his professional background.

What professional background? You're a shipping clerk!

"The holidays were a trying time," with few toys for their three kids, he recalled. A year earlier at Christmas, there were XBoxes and iPods under the tree. "It's been a lifestyle change" is how he characterized unemployment. "An immediate drastic lifestyle change."

Yes, why save for the bad times? The good times will always be a rollin'.

This country is in for such an epic ass-pounding that it's not going to be funny. In fact, it's going to be downright tragic. I really really don't want to watch this but it's like a bad car accident. You can't keep your eyes off of it!

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