The Superrich and the Meltdown

Downward Mobility

Updated Apr. 25, 2017 4:56PM EDT / Published Oct. 12, 2008 7:21AM EDT

In a smart article, Newsweek’s Holly Peterson hits the toniest precincts of Manhattan to find signs of how the superrich are coping with the economic meltdown. Sign No. 1: Former Masters of the Universe, now unemployed, are dropping the kids off at school. No. 2: Society power gals whisper that they’re wearing the same old clothes to charity events. No. 3: Flying commercial (gasp!) to Aspen rather than chartering a private jet. The co-owner of a chic Upper East Side eatery tells Peterson that he has instructed his staff to take “extra-good care” of the customers. Maybe even bring out some extra rolls.

Read it at Newsweek

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The Superrich and the Meltdown