How The Rich Are Coping With The Downturn


The recession has forced the well-to-do to confront various new challenges, like doing their own housework, shopping for things on sale and….(shudder) flying commercial. (Or, driving cross country.) Here’s how various anonymous elitists are dealing with these changes.

Vanity Fair via NY Observer’s Daily Transom blog: The piece includes a host of increasingly familiar scenes of the ways in which the ultra-rich cut back: the still-employed money man who, while planning a trip to China, asks himself, “Why should I pay $250,000 for a private plane when I can pay $20,000 to fly commercial first class?”; a Wall Street wife asking her Westchester neighbour how exactly one obtains a Food Emporium discount card; a reminder that the usually booked-solid St. Regis Hotel in Aspen currently has Christmas week available at $13,920 for two.

Over in Greenwich, residents are cutting back by “letting the pastures grow, cancelling the leaf blowers, doing the storm windows themselves.” Customers are hauling sacks of jewelry over to Betteridge jewellers (“Wall Street’s jeweler”) to make the mortgage payments while others send their housekeepers and daughters on similar runs to Consigned Couture.