You know the recession is in full swing when a CEO goes from $750,000 a year to a measly $7.29 an hour as a pizza delivery man. A former CEO of his own hedge fund, Ken Karpman went bankrupt and lost more than $500,000 of his own investment during the credit crisis.
After taking a line of credit on his house to fund his business, he tried to pay back his debt with no source of income. Desperate for work he decided to apply at a Mike’s Deli and Pizzeria, after a potential bartending gig fell through. Although, extremely over qualified, the pizza owner gave him a chance. Karpman, an MBA from UCLA and former stock trader is fairly positive about his new position and looks to it as more of a growing process.
At times, he finds himself delivering pizza to former colleagues and employees, but he doesn’t really let it get to him. Although understanding, Karpman’s wife puts most of the blame on him since he left his high paying job to start his hedge fund endeavor. He gladly accepts the blame and understands his faults.
I must say, even though this isn’t the prettiest story ever, there’s a sense of realism and humility that makes you appreciate what you have.