Friday, April 9, 2010

The $7,000 Business Lunch and Cutbacks


It's finally Friday. My back aches. My feet ache. My head aches. But I have kept my construction job for another week and just heard that I have work on Monday.

At the union meeting last night my buddy who was unemployed with me last year, we were both laid off in February '09. He is still unemployed: 14 months. He has risen on the out of work list to #66. It's terrible. His unemployment benefits are exhausted. His health insurance ran out 6 months ago. He is one of California' s 2-million army of unemployed.

In stark contrast is our buddy David Giampaolo, Chief Executive of Pi Capital, an investment company. In a recent "How To Spend It" supplement of the capitalist Financial Times Giampaolo boasted about the importance of business breakfasts, lunches and dinners. In his own words, " Once I took a $7,000 transatlantic flight just so that I could sit next to someone for 8 hours and eat lunch."

He went on to say that the "only downside to entertaining so much is that it does tend to add on a few pounds. But this year I'm trying to cut down on breakfast meetings." Cutbacks suck, don't they.

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