Monday, December 22, 2008

The Economic Downturn Hits the Rich Hard
Tough Times for Them

It's breaking my heart, I tell ya. The folks in both Palm Beach, FL and The Hamptons, NY are being hit hard by the financial downturn. One former Lehman Bros. VP is forced to put his second mansion in tony Bridgehampton up for sale. And it's SUCH a BAD time to do that don't ya know.

Asking price: $32.5 million.

Luxury downturn hits U.S. beaver trappers

"Nobody's buying right now," he said.

Renfro, 46, is the first cog in the many-layered, $15 billion global fur industry, one that is caught in the steel jaws of the global economic downturn.

Thirty years ago, when he started trapping, a beaver pelt would fetch $50. Last year, prices fell to about $12 a pelt."

*REAL people wear FAKE fur, always*