7 Spectacular Career Comebacks

7 Spectacular Career Comebacks

Eliot Spitzer: TV's "Sheriff of Wall Street"

The Fall:  As Governor of NY and the so-called "Sheriff of Wall Street," Eliot Spitzer kind of forgot that he, too, had to follow those laws about not patronizing prostitutes. He got caught and resigned as governor.

The Comeback:  This fall, he started a new political show on CNN with cohost Kathleen Parker.

The Lesson:  Even though CNN gleefully reported the scandal, they were willing to hire him once they thought he might be able to make them money. Don't overlook old foes as potential sources for future success. People are generally self-interested, and if you can help them, they may be willing to forget your previous sins.

Next, Henry Blodget.

7 Spectacular Career Comebacks

Henry Blodget: Disgraced Wall Streeter-Turned-Journalist

The Fall:  Henry Blodget, a Wall Street analyst, became another victim (and some would argue, cause) of the dot-com bust. Accused of issuing "fraudulent research,"  he was banned from securities trading for life.

The Comeback:  He now runs The Business Insider, which reports on (what else) business and finance, an area Blodget knows well.

The Lesson:  Sometimes you can't go back to what you were doing and just need to move on.  Take the knowledge and skills you have and apply them in a different area. You can be successful doing something else. The profession in which you failed isn't the only job you can do.

Next, Martha Stewart.

7 Spectacular Career Comebacks

Martha Stewart: The Domestic Jail Goddess

The Fall:  In 2004, Martha Stewart was convicted of lying about a stock transaction.  As a result, she spent five months in federal prison. In fact, she volunteered to serve her sentence rather than waiting for an appeal.

The Come-Back:  After her release, Stewart went back to work.  Her company returned to profitability in 2006. Stewart didn't hide, give up, or waste time trying to prove her innocence (once the trial was completed). She stated, of course, that she was innocent, but once convicted she took her lumps and then went forward with life.

The Lesson:  Don't let a your blunder ruin your life. Even if you truly did nothing wrong, complaining about it and blaming it for ruining the rest of your life will not help you. You know what you're good at. Go do it.

Next, Mary Meeker.

7 Spectacular Career Comebacks

Mary Meeker: A Tech Crash Survivor

The Fall:  Once the go-to person for insight on tech stocks, Mary Meeker's credibility went down with the high tech crash. Fortune Magazine even wrote an article titled "Where Mary Meeker Went Wrong."

The Come-Back: Meeker is back to being the go-to person for information on tech companies and recently joined Silicon Valley venture capital firm Kleiner Perkins as a partner. 

The Lesson:  Sometimes really smart people make mistakes. Just because you made a mistake doesn't mean you aren't really smart. Learn from your errors, and jump back into the area you know best.

Next, Michael Milken.

7 Spectacular Career Comebacks

Michael Milken: The Junk Bond Philanthropist

The Fall:  Known as the "Junk Bond King,"  Michael Milken got himself into a bit of trouble with the federal government and landed in prison, with a 10-year sentence (that he served less than 2 years for).

The Come-Back:  While he'd always been involved in philanthropy, after his release, he launched a think tank, the Michael  Milken Institute, and a new charity, Faster Cures.

The Lesson:  When you've done something bad, sometimes it's better to switch to something really good. Rather than trying to go back to his old life (not that the Feds would have allowed it), he decided to make a difference and gained respect in the process.

Next, Samuel Waksal.

7 Spectacular Career Comebacks

Samuel Waksal: A Jailbird CEO

The Fall:  Samuel Waksal, CEO of ImClone, a biotech firm, went down in the same scandal as Martha Stewart. In addition to the whole insider trading thing, it turned out that he wasn't paying his taxes, either.

The Come-Back:  After being released from prison, Samuel D. Waksal went back to what he knows best and raised millions to launch a new biopharmaceutical company.

The Lesson:  Keep your connections and your skills up.  Waksal made a big mistake and spent 5 years in prison.  If he hadn't kept in contact and kept his brain active, he wouldn't have been able to walk out and run a new company.  Just because you may be stagnant right now doesn't mean you have to stay that way forever.  

Next, Jerry Brown.

7 Spectacular Career Comebacks

Jerry Brown: Gov. Moonbeam Shines Again

The Fall: Elected when he was 36, Jerry Brown became the youngest governor in California history and seemed well positioned for presidential success. However, "Governor Moonbeam," as he was derided, ran and lost his presidential bid three times. 

The Comeback: This past November, the people of California elected Jerry Brown again--to the position of Governor, making him the oldest governor in the state's history.

The Lesson:  If you've found an audience that appreciates your talents, stick with that audience. Not everybody can appeal to a broad section of the population. California tends to be a bit different from, say, Nebraska. What will appeal to people in one place won't necessarily appeal to people in the other. Sometimes it makes sense to stay with  the niche market.