Things a Man Should Know...About Losing It All

Esquire, April, 2001

The dot-com revolution has gone dot-bomb. The Nasdaq retains a palsied grip on half the value it had one year ago, the Dow Jones average is down multiple hemlines from its year-ago high, and even General Jack Welch's Electric is slashing jobs. Lots of jobs. Good God, there was once a day when the corporate watchword was rightsizing, and it looks like that day has returned. Oh, and there is this: tax time! Yes, it was quite a party, that storied greatest-economic-boom thing. But now, gentlemen, the bill is due. Herewith, Esquire's guide to going broke.

According to a diminutive former labor secretary, layoffs can be a part of a healthy and dynamic economy--so long as new jobs are created to replace those lost.

You tell that to the journeyman machinist who's applying...