Laid Off and Better Off

Friday, October 17 2008 by | Send to a friend

Bankers, brokers and bandits: Laid Off and Better Off

Jim Piccillo

Jim Piccillo spent long days in the mortgage banking industry working towards his dreams of a corner office, BMW, huge house, and exotic vacations. Those dreams were shattered in August when he was laid off. Though money is tight, Jim now says that being laid off was the best thing that ever happened to him. He spends more time with his two young daughters, has rediscovered his faith, and he is about to launch a new home-based business.

Trader by Day, Drummer by Night

Thursday, October 16 2008 by | Send to a friend

BANKERS, BrokerS and bandits: Trader by Day, Drummer by Night

Chris Stewart

Chris Stewart is a stock trader in Chicago who thrives on the intensity of ups and downs in the market. Lately, he's been getting all the intensity he can handle. But Chris has his own way of handling the pressure: he wrangles his way onto the stage with rock bands to play percussion. Now he's a semi-regular performer with the Dave Mason band and has met many of his boyhood idols.

• Check out Dave Mason's band
• See some photos of Chris playing the drums
  

Tough job - Drumming up Real Estate

Zach Finn

The foreclosure rate in Florida is three times the national average. But Ft. Lauderdale realtor and developer Zach Finn is ignoring the numbers. He has opened a new office and is even throwing upscale cocktail parties to lure buyers. He talks to Dick about how parties and international investors are keeping his business afloat.

• Check out Zach's real estate business

Soul of a Scandal

Wednesday, October 15 2008 by | Send to a friend

Soul of a Scandal

Diane Buckshnis

Diane Buckshnis remembers another time when the economy suffered because of the decisions of financial leaders, regulators, and politicians: the 1980s Savings and Loan debacle.

Diane was a government examiner when she got assigned to the case that would become the symbol of the S & L scandal - the Keating case. Diane remembers when she met Charles Keating, chairman of Lincoln Savings and Loan. He was larger than life, and he had dreams of building the next Las Vegas - using his depositors' money.

Diane talks with host Dick Gordon about what she learned working on the infamous Keating case and what she thinks about today's financial meltdown.

Small Business Roller coaster

Alice Evans

The presidential candidates have added details to their economic proposals. It's likely they'll discuss small business loans in tonight's debate.

In June, Chef Alice Evans' restaurant was destroyed during the floods in Cedar Rapids, Iowa. She spoke with Dick about her high hopes of reopening her year-old catering business. Now the economy has taken a dive, and Alice may have to sell her home to repay her outstanding back loans.

Alice talks to Dick about how being ineligible for business loans caused her to lose a $50,000 grant - and how much that kind of assistance could help her recover.

• Learn more about Alice's Personal Chef business

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Losing the Bank

Tuesday, October 14 2008 by | Send to a friend

Losing the Bank

Joe Rusnak

Today we begin a special series looking at the financial crisis through the eyes of people who've been there. 

Joe Rusnak helped found a bank in a small town in Ohio. As he tells Dick Gordon, it was his baby -- until a financial storm hit: the network of banks to which Joe's bank belonged got caught up in a fraud scandal. The governor shut down 71 banks, including Joe's. It was the low point of Joe's professional life. Then out of nowhere, Chase Manhattan contacted Joe to buy his bank on extremely favorable terms. The bank was saved but at the price of losing its soul. Joe left after a year, and he is happy to be retired completely from the banking business now.

The Perfect Switch

Jim Shaw

The story of former bank executive Jim Shaw is the mirror image of Joe Rusnak's. Jim remembers when he was called into a secret meeting and told to pack his bags, hit the road, and take over a bank that had just gone belly up. Jim's team was given from five o'clock on Friday afternoon until 8 o'clock Monday morning to make a seamless transition. Jim talks with Dick about the pressure to pull off the perfect switch.

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