<i>Fortune</i>'s Stanley Bing

Fortune's Stanley Bing

Posted: June 5, 2009 09:01 AM

Are You Working Yourself to Death?

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We all have to work for a living. The question is how much. On the short end of the scale there are immensely successful and wealthy business executives who consider being available by BlackBerry and cell to be work. "He's traveling," their assistants will say, or, if they're on the west coast, "I don't have him right now. Can he get back to you?" I think of Stan O'Neal, the former head of Merrill Lynch, out on the golf course jotting jocular notes to himself on his scorecard while Rome burned.

On the other end of the labor vector are the salarymen of Japan. They rise before dawn, squeeze themselves into their suits, train cars and subways, hit their tiny desks for whatever circumscribed thing it is they do for fourteen or fifteen hours, take the night train home, snoozing on the long ride back to their crowded suburb, grab some fish and noodles before hitting the hay, rise again a few hours later to start the whole thing over again. They live that way for decades, and then they retire, unless they die of karoshi, which mean "death from overwork." It's a word that exists only in Japanese. So far.

I was having a chat with this guy I know. I'll call him Ryan. He's a trader at a big financial institution. It was about 7:00 in the evening, and we found ourselves elbow-to-elbow at a local watering hole. We knew each other from someplace neither of us could remember. But that slight association required us to talk a little.

Ryan's moving out to the suburbs this month after years in the city. His wife wants more room. His kids need a yard. There are two of them, which represents $50,000 per year in tuition, and that's before they hit grade school. After that, it's more. In Connecticut, the schools are free. Plus, when you own a house, all you pay is your mortgage, as opposed to his former co-op, where they tack on a monthly maintenance fee of nearly $2000 on top of your mortgage. So he's moving. I asked him if he was looking forward to it.

"We have a lot more space," he said. I noticed he was sort of unshaven and there were bags under his eyes. "That's what I'll be thinking about when I'm on the 4:30 train."

"You get to leave work at 4:30?" I asked.

"No," he said. "4:30 AM." This kind of floored me. I pictured Ryan pulling on his socks in the dead of night, his two kids placidly drooling into their pillows, his wife trying to stay asleep while he rummaged about in the dark before dawn, day after day.

"What train do you take home?" I asked him.

"I don't know," he said. "The 6:20 usually." I looked at him. I didn't know what to say. "I'm a trader," he said, as if it explained something to me. "I have to be at my desk at 6:30 AM. Also a few months ago they laid off a whole bunch of people during the big crunch. Then all the refinancing action started happening and we were short staffed. There are a lot of people around at my office at, like, 1:00 in the morning."

In my mind's eye, I saw Ryan, sleeping on the train going in, sleeping on the train going home. Dragging his butt to a late dinner when his kids had already gone to bed. Hauling his tired body up the stairs for five hours of sleep before the alarm rang again at 3:30, so early it woke the birds before their time.

"I've been doing something like this for years," he added. Then he looked at his watch. "I gotta go," he said. "I have six minutes to make my train." And he went, rushing to sit with all the other busy business people. Among them these days are many Japanese, most of them, I believe, headed for Crestwood and Scarsdale. They remain in the States for a few years and then are shipped back to the home office, which wants to make sure they don't get too soft over here.

We all have to work for a living. The question is how much. On the short end of the scale there are immensely successful and wealthy business executives who consider being available by BlackBerry and ...
We all have to work for a living. The question is how much. On the short end of the scale there are immensely successful and wealthy business executives who consider being available by BlackBerry and ...
 
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Why is it that Germans live more comfortable fullfilling lives than us? Wasn't Germany destroyed twice over the past 90 years?

Anglo-American Capitalism has been critically wounded by Wall Street and London greed. Time to look the German Capitalist model. Germany doesn't not have indentured servants unlike us economic slaves of this corrupt sytem.

    Favorite    Flag as abusive Posted 12:20 PM on 06/08/2009

They don't call it the rat race for nothing. Actually I wonder who came up with that.....time to wikipedia. Some people thrive on work and lead happy lives, have little family time but still make it work, deal with the commute, etc.
I, on the other hand, start losing it just sitting in any type of traffic and hate wearing suits. So I live a simple life at my simple job (at a school, job security and feel part of the community) and never, ever worry about keeping up with the Jones'.

    Favorite    Flag as abusive Posted 12:25 AM on 06/08/2009
- noneIn2008 I'm a Fan of noneIn2008 27 fans permalink

Some day you wake up and realize you are only working long hours to pay more taxes to the leaches in Washington and the State capital. The media feeds you drive you to work harder as a measure of success. Wake up, scale back and drop out like I did. The quality of life goes way up. Plus, we then cut off some of the life blood to the leaches in Washington.

    Favorite    Flag as abusive Posted 10:38 PM on 06/07/2009

Some of us enjoy working long hours !! whats wrong with that (if the pay is comparable of course).

    Favorite    Flag as abusive Posted 09:51 PM on 06/07/2009
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I know we work too much. It's almost a horrible thing to say in the jobless environment; however, working 40 hours a week is JUST the time spent at your desk (or whatever) - not getting ready, getting THERE, getting home. Sometimes I wonder if I should save the mortgage payment and sleep in my office. I'm home for 56 hours a week (Friday night to Sunday night). That 56 hours includes catching up on sleep and doing all errands. It is very difficult to have any interests outside of work because there is no time to spend on anything besides basic needs.

    Favorite    Flag as abusive Posted 01:40 PM on 06/07/2009
- noaxe397 I'm a Fan of noaxe397 124 fans permalink

In the 1980s something called "face time" was big in many salaried jobs. There was really no more work for the day, everything was done, yet no one wanted to be the first to leave so as not to be though of as a short timer. Too many bosses today confuse busyness with productivity and long hours with competency.

At least with hourly workers they have to be paid OT after 40 hours so management incompetence is punished. I wonder how long before this "welfare" benefit bites the dust.

    Favorite    Flag as abusive Posted 03:58 AM on 06/07/2009
- 02bmw76 I'm a Fan of 02bmw76 10 fans permalink
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Don't feel sorry for them a bit. They are the sorry ones. I'm building a treehouse for my son. We will be fishing soon for Blue Gills when he isn't busy riding his mini bike. Ya gotta have your priorities straight. My son knows our priorities are fun with a little bit of yard maintnance and other household duties thrown in there. What fun is making money if you can't enjoy it? Kids don't care about money if they aren't taught to be a slave to it. Learn a trade and be self sufficient or be smart enought to have a fun job even if it pays less than somethimg that will kill you from stress. Enjoy life, not all the material crap you waste your money on in some feudal hope of keeping up with the Jones'.

    Favorite    Flag as abusive Posted 03:09 AM on 06/07/2009
- noneIn2008 I'm a Fan of noneIn2008 27 fans permalink

You show tremendous insight into what really counts in life. The media feeds us a story opposite of yours to keep us in the hamster cage.

    Favorite    Flag as abusive Posted 10:40 PM on 06/07/2009
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