Sara Clemence, 34

New York
Laid off from: Conde Nast Portfolio, Dec. 31, 2008
New venture: Recessionwire

An editor who joined Condé Nast's business magazine Portfolio at its inception in 2006, Sara Clemence was laid off late last year along with most of the online staff. In early February she launched Recessionwire with former Portfolio.com Assistant Managing Editor Laura Rich and freelance writer Lynn Parramore. Devoted to "the upside of the downturn," the site chronicles the economic fallout, particularly for out-of-work professionals like themselves. "I'd had lots of ideas for starting small businesses that had never come to fruition, mainly because of time constraints," says Clemence. "All of a sudden, my opportunity cost was really low."