PHOTO! Here is a picture of Ken Karpman who has gone from $750,000 a year hedge fund CEO to $7.95 an hour pizza delivery man. Ken Karpman’s pizza delivery story is both sad and a bit ridiculous.

How does someone like Ken Karpman go from making $750,000 per year to living on food stamps? And why would someone like Karpman even admit to tell his story on ABC News today? Thankfully his kids’ tuition, $30,000 per year, has been taken care of. Not because of Karpman’s financial planning, but because of someone’s generosity.

“It’s just something that kind of makes you a little misty every time you think about it, that somebody would do this for our kids. But we’ll have a chance at some point to do that for another family.”

If you haven’t heard the story, you can predict the storyline. Karpman had it all, was making a a fortune. How does it spiral downward? These stories never collapse because of mere unemployment, a simple layoff. Nope, Karpman left his job, started another business, took a mortgage, the business went belly up, and lost it all. Now he is about to loose his house.

The story is not a new one, and certainly not new on LALATE, in which people during the boom years took their money to open a business and leveraged its growth with mortgages against homes, never planning – what if? What if I’m wrong? What if the business doesn’t work out?

People, sometimes things don’t work out. Karpman is educated, with an MBA from the wonderful UCLA and a beautiful loving family. But no education can teach someone to be honest with themselves and realize sometimes businesses don’t work and if they don’t what is your backup.

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