As readers of this blog know by now, both the New York Times and Wall St. Journal spend a lot of resources and ink on covering the super rich.
The latest examples:
- “They’re Pinching Hundred-Dollar Bills” by Geraldine Fabrikant, which starts like this: “The jet set, too, feels the pain.”
- “Wealthy Are Afraid They’ll Run Out of Money” by Robert Frank, a senior writer for the Wall Street Journal and the author of “Richistan: A Journey Through the American Wealth Boom and the Lives of the New Rich,” published in June.
So here’s the deal: if you are working in marketing or PR, here’s the lesson: Look for story angles or proof points that show something counter-intuitive about the super rich. It doesn’t even have to be so counter-intuitive. For example: “The turmoil on Wall Street has not only taken down once-solid companies, it has cut into the wealth of some Americans whose fortunes were tied to those companies. So the wealthy — and many still are that, by most measures — are postponing big purchases.”
Meanwhile, because the point has been made by now, I will stop counting Times or Journal articles that document how the downturn is impacting the super rich. I think we get it.