Business Plan: Penthouse Scion Explains Recession

His father famously started a porn powerhouse. The son launched music mag Spin and now, he’s going after the rich. We missed this earlier this year, but Bob Guccione Jr. explained why the recession turned out to be a fine time to launch Prestige, a new high-end publication:

“Of course, it wasn’t the intention to launch Prestige in the recession,” he says. “Having said that, i still don’t think it’s a bad idea. The very rich will always be at least rich.”…

My Free Edumacation

I am a secret self-improver.

There is a stash of relationship books in my apartment, tucked where my boyfriend is unlikely to stick his nose. One of my favorite vacations ever was to Canyon Ranch, where I spent five hours a day running between yoga and cardio workshops (and hoped nobody saw me in the bongo class). Over the past several years have enrolled in French, Chinese, guitar, tennis, and cooking classes. No, I still can’t cook. Thanks for asking.

One of the bummers about being unemployed is that I don’t have the dough to finance my “personal growth.” And even though I like the idea of being an autodidact, I don’t have the discipline to teach myself stuff from books. But these days, you don’t need money or good study habits—there are plenty of classes available for free, both online and in person. In fact, I’m now tempted to spend the next few months in my own personal summer school. Feel free to crib my curriculum…

How to Be a Good Wedding Guest without Going Broke

Yes, times are tough but let us not forget that love carries on. Case in point, that growing stack of wedding invitations you have thumb tacked to the calendar. If it seems as though everyone you know is suddenly getting married this summer, that may very well be the case. Wedding season is officially in full swing and just because you’re counting every penny, don’t discount the fact that you’re still required to send a gift for every invitation that comes your way.

While Brides.com suggests that the average amount of money to spend on a wedding gift is $100, the rules of etiquette may be broken on account of a bad economy. If you don’t have quite as much cash to give this year, you can still say “I do” when it comes to being a good wedding guest.

Give your friends a gift that doesn’t have an obvious monetary value. In other words, resist the urge to write them a check in the amount of $94.25 even if it shows that you’re down to your last dollar…

Recession Briefing 6.12

What you need to know today to survive and thrive in the recession.

The recession is helping to ease the country’s nursing shortage, as workers who had left the field in better times are returning in droves. (Wall Street Journal)

The brute force of the recession has wiped out a staggering $1.3 trillion in wealth for Americans in the first quarter. Americans’ net worth declined 2.6 percent in this period, the Federal Reserve said. (Associated Press)

Because of the downturn, some friendships between two people whose Saturday-night spending and overall class status used to calibrate precisely have now turned trickier. (Slate)…

Screwed: 100 at Premier Elkhorn Coal Company

A daily review of the employment fallout around the coutry and the world.

Today’s partial total: 364

Premier Elkhorn Coal Company lays off 100 miners in Kentuky… H&H Foood Service Inc. lays off 90 workers… Indevus Pharmaceuticals is being downsized by about 60 employees since its acquisition by Endo Pharmaceuticals… Colusa Casino Resort has laid off 42 employees, about 10 percent of its workforce… In another round of layoffs, The Shaw Group Inc. has laid off 40 employees at its Walker, La. location… Bass Berry & Sims has laid off 32 employees, 10 associates and 22 staff…

Signs of the Recession: The Two-Word Resume

The feds say that 7 million people have lost their jobs in the recession—which means a hell of a lot of people cussing under their breath as they wrestle with their resumes. Should it be one page? Two? Chronological? Functional? Serif or sans serif?

Lemonade Makers: Queens of Unemployment Bling

Stephanie Aucoin, 48, was laid off from an accounting firm in September. Barbara Bourn, 59, who works in interior design sales in Sarasota, Fla., has seen her income decline 60 percent thanks to the downturn. In March the longtime friends designed and started selling silicone arm bands embossed with the words “I Need a Job.” They have made back their initial investment and are turning a profit. Bourn talked with us about launching their first business.

Lance Armstrong has sold more than 70 million LiveStrong bands. How many have you sold?
We’re probably getting up around the 10,000 mark…

Love in the Time of Layoff: The Changing Hearts & Minds of Men

This morning my husband Marco got up early to buy me eggs before my morning sickness kicked in. Before he got laid off, such an errand would have caused him strife. When he had to show up somewhere on time, anything that deviated from the norm of morning routine could throw him off. But this morning was different. This morning, Marco had a reverie buying me eggs.

“I got to the store on the corner before it opened,” he came back and explained, his voice all quiet and calm. “So I walked around for a while in the hazy rain. And when I came back and picked up the eggs, I thought of where they came from. I thought of the farm.”

“The farm?” I asked, plucking two eggs from their carton in a rush to cook them and get them in me quickly before I threw up. We live in busy Manhattan. Even the closest farmer’s market is a few subway stops away.

“Yeah, the farm. I felt part of that cycle of farm life where you get up before dawn because you have to get some things done before everyone else wakes up. I felt part of some kind of more natural work life cycle. I felt part of that somehow just looking at these eggs.”…

Recession Briefing 6.11

What you need to know today to survive and thrive in the recession.

Many strip clubs are shedding their upscale trappings and catering to a thriftier clientele by offering less expensive drinks and waiving cover charges. (Wall Street Journal)

A Florida man has turned a 77-square-foot closet into his home, thus reducing his rent to $150 per month. (WPTV)

The Undies Indicator: During a recession, men’s underwear is among the first things that people stop buying. When underwear sales increase, it should signal an uptick in consumer demand. (CNBC)…

Screwed: 855 at Charlotte-Mecklenburg Schools

A daily review of the employment fallout around the country and the world.

Today’s partial total: 2,610

The Charlotte-Mecklenburg School board has voted to let go of 855 employees… MySpace will be undergoing major downsizing, affecting somewhere between 300 and 500 employees… The sate of Michigan is closing three prisons and five prison camps later this year, affecting fewer than 500 employees… Wayne County, Michigan executive Ficano claims the county needs 500 layoffs, in addition to 12 less work days and higher contributions to health care by the remaining workers… Cadence Design Systems will cut the equivalent of 225 full-time workers by the end of this year… Iowa University Hospitals may be forced to cut 200 positions.