Yet Another Bonus Binge Spending Story

Posted by John Carney, Dec 20, 2006, 10:37am

Despite ourselves, we still can't get enough of these bonus binge stories of spending excess.

Here's the latest from Bloomberg:

One New York wife is getting a $50,000-plus diamond ring thanks to hubby's Wall Street bonus. An executive is giving $1 million in private jet time, or 150 hours, so his family won't have to fly commercial. And plenty of $7,000 mink coats and $20,000 necklaces are being boxed up, too.

"I haven't seen such excess displays of wealth and extravagance during the holidays since the 1980s,'' said Samantha von Sperling, a New York-based image consultant and personal shopper. "This is the most prosperous, most lavish, most extravagant season I've ever seen.''

Please keep in mind that some of this is the old retailers trick of talking up a big shopping season and hoping it comes true. That's why so many of the items are gifts, to create the impression of a peer group that your spouse/lover/offspring (or all three) can compare you against and find your gifts lacking.

Minks, Private-Jet Time Get Gift-Wrapped as New Yorkers Splurge [Bloomberg]

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Comments

Posted by bizwriter, Dec 20, 2006 11:23AM

don't get me wrong; i love capitalism, but i wonder whether the $1mm in private jet time for wifey and brats might be better spent on, say, buying a few houses for katrina refugees. put it in writing that they'd need to get jobs, be upstanding citizens, etc., to keep the digs. the family could still fly first class.

Posted by Unimpressed, Dec 20, 2006 11:42AM

I am glad you caught on to the obvious planting of this story and the key quote from "a New York-based image consultant and personal shopper." Where oh where would one intrepid reporter find such a maven of this oh so unique shopping industry?

Everywhere, it turns out:
http://www.google.com/search?hl=en&q=Samantha+von+Sperling

This is nonsense during a SLOW time of the year. . .

Posted by To The Pelham Manor Born, Dec 20, 2006 12:08PM

Excuse the following rant, but why the hell would someone spend his own money on Katrina "refugees"? Why would someone spend $1MM on complete strangers (presumably non-blood relatives) instead of on his own flesh-and-blood??! It doesn't make sense.

I don't feel sorry for Katrina "refugees." The have been well compensated to the tune of BILLIONS of dollars. And not only that, after they have raped all the white girls and pillaged New Orleans stores, they'd probably spend the money on Fritos and crack.

Posted by Texas Energy, Dec 20, 2006 12:17PM

How Refugees Spend their FEMA Checks

Posted by Texas Energy, Dec 20, 2006 12:19PM

Supposed to be embedded image:
http://www.photo.net/bboard/image?bboard_upload_id=30349784

Posted by Random Banker, Dec 20, 2006 12:59PM

To The Pelham Manor Born: You have got to be kidding me. Did you seriously just post that? Shouldn't you be out stocking up on crosses and gasoline for the next Klan rally?

Posted by To The Pelham Manor Born, Dec 20, 2006 1:03PM

No, I'm too busy making another few million this month to spend on my family and friends.

Posted by anon, Dec 20, 2006 1:44PM

Don't you remember ? Displaced Katrina victims were offended at being called "refugees". If you want to help someone, or rant about them, at least call them by their (politically) correct name.

Posted by To The Pelham Manor Born, Dec 20, 2006 1:51PM

And what would that be? Animals? Trash? Hooligans? Ruffians? Peasants? I can think of a few more appropriate names, but if I post them here I'll get another scolding from our resident Boy/Girl Scout.

Posted by Random Bankers, Dec 20, 2006 1:52PM

The Pelham Manor Born :
Enjoy the millions while the last, I would suggest saving them. There are very few jobs left were morons can make millions of dollars. Most likely your job is no exception and there's a college student in India who's going to arbitrage away whatever market irrationality lead to your current employment.

So invest wisely or you'll end up back in the trailer park.... but then at least you'll be able to make it to your rally.

So invest wisely or you'll end up back in the trailer park.

Posted by anonymous, Dec 20, 2006 2:17PM

But the people displaced by Katrina misunderstood "refugee" and took it very negatively - I think of a refugee as someone seeking refuge. No political, sociological, racial or other meaning or underlying judgment intended. For some reason "victim" has more appeal. Perhaps, because if you are a victim, nothing is your fault.

Posted by Hey, Dec 20, 2006 5:59PM

Since when is 50k an excessive or terribly outrageous amount for a ring? Maybe another 0, but when you're bringing home a few million in extra cash, or even a few hundy, 50k isn't crazy to be giving in jewelry.

Posted by To The Pelham Manor Born, Dec 20, 2006 6:41PM

RB: I can assure you, I don't have even a passing familiarity with "trailer parks." Mansions in backcountry Greenwich and New Canaan, townhouses in London, waterfront homes in Southern California, yes. "Trailer parks"? No.

Now, stop playing around on the computer and go sell some auto loans, or whatever it is bankers do. Retail awaits you...

Posted by , Dec 21, 2006 2:58PM

To The Pelham Manor Born:

The majority of missapropriated funds were spent on rampant corruption and gov't beaurocracy. The federal gov't gave loans and incentives to rich contractors who promptly took the money and ran without performing services. Hence debris is still unmoved and recovery has stalled.

People looted because the gov't took over 5 days to effectively deal with the problem. i'd like to see what any racial/ethnic/economic class would do in a similar situation. Without the protection and enforcement of law or any gov't aide any and every society would crumble.

There was never any documented case of any rapes of 'little white girls' or any girls for that matter. all of those myths have consistently been proven false. your racist statements are offensive and ignorant.

Posted by Texas Energy, Dec 21, 2006 3:12PM

It's the government's fault! It's always the government's fault!

Personal responsibility is dead.

Posted by To The Pelham Manor Born, Dec 21, 2006 3:17PM

A corrupt, inefficient government on the one hand and an indolent, violent population on the other. Sounds as if they deserve each other.

"Offensive and ignorant"? So sue me.

Posted by Katrina, Dec 21, 2006 4:20PM

"People looted because the gov't took over 5 days to effectively deal with the problem."

You can't even close a mortgage in 5 days. People looted because they could, because free is always better than paying for it and because they lacked any sort of moral compass.

5 days to deal with one of the worst natural disasters to hit the US? Wow. You have to be kidding me.

Posted by Samantha, Dec 22, 2006 10:47AM

You're welcome to read more about Samantha at http://www.socialimage.net.

Posted by Bizboz, Dec 22, 2006 11:09AM

Does Samantha always talk about Samantha in the 3rd person? Is this something that Samantha coaches Samantha's clients to do?

Posted by CEO of you, Jul 04, 2007 1:09AM

this samantha chick needs some "A" beads up the sink. anyways, how come so few cesspools died in that thing? let's just stop toying and enjoying and lets of em and then really enjoy.

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