Wall Street's Jobless Try Cupcakes, Cheap Haircuts, Maybe Omaha

[marmar]

from Bloomberg:



Wall Street's Jobless Try Cupcakes, Cheap Haircuts, Maybe Omaha

By Caroline Salas and Pierre Paulden

Aug. 15 (Bloomberg) -- Jessica Walter didn't go to Harvard University to study cupcakes, but they're what she does since losing her job as a vice president in credit strategy at Bear Stearns Cos.

``I want to teach kids to cook,'' said Walter, 27, who founded Cupcake Kids! in New York to provide birthday parties and cooking classes for children. ``The goal is to have this be my full-time job and make enough to live.''

Wall Street professionals are trying new careers, and fetching smaller salaries, amid the elimination of 76,670 investment jobs in the Americas following the global credit crunch that started a year ago, according to data compiled by Bloomberg.

Bankers are ``buying businesses for themselves, moving west or to Europe, including Russia, or to Dubai,'' said Jeanne Branthover, managing director of Boyden Global Executive Search in New York. ``They're also moving totally outside what they do, buying a retail store or a ranch.''

About 33,300 finance jobs in New York City, or 7.1 percent of the 2007 peak, will be cut by June 2009, the Independent Budget Office, a non-partisan monitor of city finances, estimated in a May report.

Expansion Plan

``The job market is in the worst, most chaotic state I've ever seen it in fixed income,'' said Michael Maloney, who recruits finance professionals for Maloney Inc. in New York. ``I've been doing this for over 30 years and I've never seen anything like this.'' .......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601109&sid=a6h1pur72rok&refer=home

[Tandalayo_Scheisskopf]

1. Awwwww,

My gums bleed for the little darlings.

Maybe they can get prolapsed colons, too? I know, I dream.

[donco6]

2. Hey, now they can live their dream.

Sounds like a win-win to me!

[Joanne98]

3. It's free trade baby! I hope they starve to death!

[thunder rising]

4. Cupcakes for kiddies ... she ought to be going to jail.

[Skink]

5. Packaging subprime loans isn't good for the Resume.

[SOS]

6. Since they are experts at loan sharking,

they might want to offer their resumes to organized financial lenders who operate out of bars in Brooklyn.

[Faygo Kid]

7. "Get that cupcake frosting right, you little piece of sh*t!"

I was president of my Young Republican chapter in college, hung out with Monica Goodling, donated to Bush and used family connections to get a high-paying hedge job fund job on Wall Street, and for what?!?

So I can hang out with a bunch of snotnosed kids who can't get it through their thick little skulls that the curly frosting on the cupcake SHOULD BE CIRCLES, NOT ZIGZAGS?

I don't think so, you ungrateful morons. I'm calling Daddy and having him pick me up in the Beemer.

I'm outta here, you little turds.

[AndyTiedye]

8. I think tinyviolins.com is hiring

:nopity::nopity::nopity::nopity::nopity::nopity::nopity::nopity::nopity:

[Liberal_in_LA]

10. lol. Where's the sympathy?

[SoCalDem]

9. Wonder how they're liking the new "service economy" they created

Cupcakes for kids"..a long way from the wall street casino life :rofl:

[BlooInBloo]

11. Looks like I made the right choice to leave MBS modeling 3 years ago.