Due to the prolonged economic down-turn not even the traditionally "safe" demographic of white, middle aged, educated males has not remained safe from unemployment due to a dwindling middle-class. Once executive or professional, their employability now is as hopeless as a "beached whale's" survivability.
BMW, for short, it's an ironic turn of phrase. Also known as "Dead Suit Walking".
Look at that Beached White Male over there. He went from driving a BMW to being one!