Wayne White

Job Title: 
Retired Petroleum Geologist
Favorite Quote: 
He has a right to criticize, who has a heart to help. Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. Nobody said it would be fair; honest would be nice however.

A. Lincoln, A. Lincoln, Me

Born last of three children into a working class family in 1950.

Graduated HS 1968. Flunked out of college first go-around (too much pinochle and beer).

Honorably discharged veteran; 3 years and 9 days in the USN.

Graduated university in 1977 (BS Geology/Geography) (thanks solely to the VA; GI Benefits).

First "professional" job (Exploration Geologist for a small, independent oil company) in Tulsa, OK ($12k/year; lots of money in those days; according to http://data.bls.gov/cgi-bin/cpicalc.pl $43,800 in today's money).

Worked and saved and lived well within our means and was eventually was laid-off from moderate to large independent oil company after 22 1/2 years employment with same (was one of 400; 70+% were 40 years old or older so obviously the lay-off was not age-related).

As we had "...done everything right," "...played by the rules," etc. we were two house payments from paying off our house at the time of being let-go. Took the severance package and held on for 2 1/2 years before taking "early retirement" from same company.

Presently still retired but as company-subsidized health insurance is now within earshot of 50% of net pension check I'm looking for part-time work to subsidize living.

Company-subsidized health insurance started out at around $425.00/month, the next year it shot up to $650.00/month and is now in excess of $1,000.00/month. Note: First "professional" job salary gross less than present health insurance. Insurance costs have increased 53/57% per year. Expect next year's insurance to by in excess of $1600.00/month. I also don't expect to see anything approaching Universal Health Care or cost reductions in the near future (10 years).

I expect to be driven into a state of poverty either by health care insurance or having to sell everything we own to pay for medical bills.