This column from the Denver Post today. The person in question is a former University administrator I had occasion to work with some years ago. Not a pretty picture of how the current economy is hitting people.


Johnson: Life shrinking for invisible job seeker, 58
By Bill Johnson
Denver Post Columnist
Posted: 10/07/2009 01:00:00 AM MDT
Updated: 10/07/2009 02:20:51 AM MDT

"I am out of luck and ideas . . ."

My mailbox and telephone just break my heart most mornings.

Far too many people are down to the last thread hanging from the end of their rope. They call me.

The worst thing is, these are people who had work that really mattered in this world. And I wish with all my heart I could help each and every one of them.

All I know is Karen Grossaint's e-mail got to me. That first line above? It was her last sentence to me.

Some of you might remember she was once the mayor of Bennett. Those days, she says, seem like a lifetime ago.

Her dad several years back left her more than $100,000, all of which she put down on a $300,000, five-bedroom home in Bennett.

Fast-forward to 2006.

By April of that year, she had been fired from her administrator's job at a local university and lost her home in a quick sale.

Fast-forward to October 2009, and Grossaint is speaking to me in the living room of a brand-new, unsellable Strasburg home she got the developer to rent to her for $1,300 a month, the same home she will likely be evicted from for non-payment of rent that is due the 15th.

We are talking here, folks, of a woman taking at least nine jobs since the firing. None of any of it is from a lack of trying. . ....

rest here:

http://www.denverpost.com/billjohnson/ci_13501438

__________________
1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13

While I wish the best for the woman, here are some observations from the article:

- a woman with a master's in English, a bachelor's in English literature
It would seem that her plan was to remain in academics, but having a limited resume or work experience does limit choices.

- her plan is to store everything she hasn't already sold and live with her four dogs in her Ford Explorer, which itself is at least $300 behind in payments and barely runs.

I love dogs, they are part of the family, but she should make the tough decision about keeping them. Still making car payments . . . that's another bad choice.

- Her dad several years back left her more than $100,000, all of which she put down on a $300,000, five-bedroom home in Bennett.

Single person needs a five bedroom house because . . . ? Putting all of the $100K into one investment vehicle was risky, at best.

Sounds like she wasn't that good with money, but still times are tough.



Time for here to ditch the Ford, like this guy did.

__________________
1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

I agree. I agree, the nub of the problem was blowing a hundred grand on a stupidly overinflated McMansion. She has two college degrees. I wonder if she ever had to take a history course.

- Peter.

__________________
2021 Chevrolet Spark
Formerly...
2000 GMC Sonoma
1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021
2002 Kia Rio. Worst crap on four wheels
1981 240D 4spd stick. 389000 miles.
1984 123 200
1979 116 280S
1972 Cadillac Sedan DeVille
1971 108 280S

"Pets or Meat! Rhonda Britton, from the film "Roger And Me" by Michael Moore

Not the first media "rodeo" for Ms. Grossaint NPR story from March 2009

Not much bucking in that rodeo.

__________________
1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13

Take this from an old drunk. I realized 30 years ago that people that produce with their hands. make things worth money will always have a job. I have been self employed for 20 years. I chose the technical school route instead of college. Even in this economy I can still make a living.

__________________
For the Saved, this world is the worst it will ever get.
For the unSaved, this world is the best it will ever get.

Clk's Ebay Stuff BUY SOMETHING NOW!!!

One might presume that the Denver public radio station that crafted the story about mortgage "assistance" scams around the misfortunes of the their opening interview with Ms. Grossaint. Likely, she was a victim of such a scam.

Well wishes can be sent to Ms. Grossaint though her Facebook page as well.

Sorry to hear about her situation but it sounds like she made some bad financial decisions - particularly the high dollar house and the $100k. Some folks put a lot of emphasis on a high dollar house (my first wife was like that). Anyway, I have never figured that one out.

There was some interesting reading this past weekend concerning the jobs market. Seems that there are a lot of good paying jobs available out there for the people that have the education and experience - nursing and engineering were a couple of them.

__________________
Jim

To a large degree there by the grace of God go all of us. My ex may well be headed down that path a one time six figure VP who prior to that owned her own firm is now out work and owns a 250K+ condo that she bought when she got divorced. My son reminds her what a bad move that was, but she is the optimistic sort which to some degree has contributed to her success. She is a very bright hard working person. She will be a true litmus test for this economic system we have.

__________________
MBlovr
'59 180 Dad's original
'59 180 Dad's 2nd one
'67 250SE Dad's last one
'59 220 SE My first one
'62 220SE Coupe second one
'89 190E 2.6 5spd third one
'06 E350 4matic (sold)
'10 E350 4matic

That is simple. Americans have had it ingrained in them that their house is the best investment they can make. It is only natural for them to conclude that the more they buy now the better off they will be.

That's great. For nurses and engineers anyway.

__________________
1984 300TD

For younger nurses and engineers . . .

I've read that the majority of Americans do not hold a job in the field for which they received their degree. I don't. Out of curiosity, do you?

__________________
1984 300TD

My post graduate degree is a Juris Doctor, and I'm still practicing. One day, I might get it right!

A masters in English bests suits a writer or educator, but her career move into educational administration was probably not best served by her degrees, but is still serving her with the $500/mo writing job she still maintains.