LotD
The Craigslist Experiment. Check this out: a guy set up a fake job ad on Craig's List etc to discern WHO his competition in the job market is. The results are a bit sobering. And on a related note, here is an interesting article: Why Good People Can't Get Jobs.

LotD

Here's an interesting concept: Would you pay $2,500 for a guaranteed job offer in six months? TheLadders.com wants to make it happen for you. Anyway, this article is interesting since it analyzes the program and other criteria. Let's hear it for that good ol' entrepreneurial spirit!

LotD II

Analysis: Is the US ready for the GOP's Medicare cuts?

... as time goes on, the demand for the government to provide—or assist in the provision of—social insurance will grow, not decline. Historically, companies shouldered the load of funding workers' health care and retirement savings. But 401(K)s are replacing pensions. According to the Employee Benefits Research Institute, the percentage of employees participating in defined benefit plans was 33 percent in 2007 compared with 63 percent in 1988. Public-sector pensions are likely to be trimmed. That means tomorrow's retirees will need more old-age income insurance, not less. In addition, jobs increasingly don't come with health care benefits. According to the Census Bureau, the percentage of people in 2009 covered by employment-based health insurance fell to 55.8 percent in 2009, the lowest "since 1987, the first year that comparable health insurance data were collected." With each passing year, more people need help buying insurance, not fewer.

LotD

How the middle class became the underclass. Discuss.

QotD

Thomas Friedman just said on Meet the Press: "Egypt and the Middle East has been on vacation from history for the last 50 years because of oil. Egypt didn't have oil but it had the agreement with Israel, which was to Egypt what oil is to the rest of the Middle East."

The quote just struck me because I'm reading a biography of Catherine of Aragon and the first few chapters have reference to the Moorish influences on Spain and the technological and artistic contributions made to that country prior to their ousting. I'm not quite sure what the peace treaty with Israel did economically for Egypt (perhaps aid from the US?) but oil and its ensuring revenues/subsidies gave some of these countries a reason not to develop other capabilities/competencies, leading to the high unemployment rates and stagnation that we see in the Middle East today. It's not just a democratic revolution that's needed, but an industrial one as well.

LotD

Why are Republicans Changing Their Tune on Fannie and Freddie?

When your party is in the opposition with a weak minority, it's very easy to talk big. You can tell Americans exactly what they want to hear without any consequences, because you can't actually pass any legislation. But now that Republicans are in a position to actually pass bills, they need to pay a little more attention to the consequences of their talking points.

LotD

Interesting article: Income Inequality and the 'Superstar Effect'. I'm a big fan of capitalism but there are some downsides to it. I think this article summarizes it well.

CAPITALISM relies on inequality. Like differences in other prices, pay disparities steer resources — in this case, people — to where they would be most productively employed.
[...] Ultimately, the question is this: How much inequality is necessary? It is true that the nation grew quite fast as inequality soared over the last three decades. Since 1980, the country’s gross domestic product per person has increased about 69 percent, even as the share of income accruing to the richest 1 percent of the population jumped to 36 percent from 22 percent. But the economy grew even faster — 83 percent per capita — from 1951 to 1980, when inequality declined when measured as the share of national income going to the very top of the population.

LotD

Heavy reading from the University of Maryland: Misinformation and the 2010 Election. Andrew Sullivan summarizes here.

LotD

Vanity Fair had an interesting article, The Simple Solution to America's Unemployment Problem. It caught my attention because I've been thinking lately, is Big Business really good for you and me? I haven't completely formulated my thoughts on the subject because I can see the pro and cons of the equation, but I can tell you think: hiring people and paying them a liveable wage cuts in profits.

Profits are what are important to companies. They want to make money and so if they can't make their sales, they cut their spending. People are among the easiest assets to let go. And my great fear these days is that with businesses doing more with less, the incentive to hire is so low. I mean, if they've got someone who can do the job of three people, that's a cost savings to the company and an improved bottomline. Who's going to go through the expense of hiring when you don't need to?

Anyway, it's an interesting rant and much to think about. We think Big Business is good for America, for us the little people, but is Big Business making their decisions with America in mind?

LotD

Interesting article on the current tax debate here: Five points to keep in mind as Congress debates the Bush tax cuts.

LotD

Interesting opinion piece: Five Reasons to Stop Worrying About Home Prices. On the flip side, Is Housing Still a Good Investment?

LoTD

The NYTimes had an interesting editorial in today's edition on the current economic situation. You can read it here. I like it because it basically lays out the facts without all the wavy hand movement sky is falling prose. It's scary stuff. We went from surpluses in the Clinton era to deficits in the Bush era, which was then exacerbated by Obama. Then you have the 40% of the budget -- entitlements -- that are just impossible to deal with in a logical way, the tax cuts that decrease revenue, and the persistent joblessness that means extending unemployment. I sense tax increases in our future but don't just blame Obama. W had a lot to do with it as well.

LotD

What would you cut from the federal budget? Eric Cantor gives you the opportunity to vote, "American Idol" style, at YouCut.

LotD

I'm a big fan of some of the social nets provided to citizens in the EU, but even I was shocked by some of the spending in Greece. Retirement at age 40? Bonuses for showing up to work on time? For using a computer? Wowzers. Five Areas of Greece budget waste. No wonder people are protesting in the streets; these are tough perks to have to give up.

LotD

This story in the WSJ re executives who got laid off and are still living large, even turning down job offers, seems so far removed from reality. It's hard to imagine keeping on with $130 haircuts or the Starbucks habit when you no longer have income to support it. It doesn't seem very smart to me, but then I get my hair cut at Haircuts for Less and similar ilk and I find Starbucks disgusting so my coffee habit is usually limited to Taster's Choice with the occasional splurge on McDonald's McCafe.

What's crazy is a couple of people in this article have turned down job offers. In this kind of economy, who knows when the next offer is coming? It just seems enormously irresponsible for people who are otherwise pretty smart.

Vacay

I'm on vacation this week as I'm between jobs. My last day at the previous job was last Friday and I start the new job this coming Monday. It seems a little surreal to have found a job so quickly -- about 3 months from application to start date -- in this economy when there are so many stories about people who have been looking for months, who have applied to so many different jobs, etc. It's actually demoralizing to read those stories and I stopped about 2 months into the job search. Each of those stories is a data point of just how bad the economy is, but there aren't any stories on people like me -- who found a job fairly quickly considering. So for those of you who are out there looking, there is hope.

Note - I'm aware that some parts of the country are better off than others and I happen to be very lucky and living in a part of the country that while it has a 9%+ unemployment rate, it's not as bad as other places and that could have played some into my job search.

The emperor has no clothes

I was reading a stat today that about 10 to 30 percent of resumes have lies in them, whether inflating or exaggerating accomplishments to lying about military experience or saying one has a degree from a school that one does not have one from*. I don't understand what's the point. The lie might get you in the door -- for instance, I could say I'm a petroleum engineer with 20 years of experience, but anyone's going to know 3 minutes into my first day on the job that that can't possibly be true.

That's what keeps me honest. I stress over things like getting the month of my graduations right (honestly cannot remember anymore if I graduated in April, May or June of a certain year). I recently took some bullet points off my resume from when I was at Very Big Insurance Company; I'm sure they were true, but it's been nearly a decade and I can't remember what projects those bullet points refer to now. If I can't talk intelligently about the things on my resume, off them come.

It's awfully tempting to put programs like SPSS or Minitab on my resume because I have used them at one point, but gosh darn if I remember how to use it. I know those are programs that are in demand in my field and I know it wouldn't take me long to learn them, but still -- something holds me back, namely conscience. I'd rather 'fess to having used them at some point, the memory has faded, but I'm confident I could re-learn in a short period of time.

It's a tough job market, but there are plenty of examples out there of people representing one thing to get the job but don't last any length of time because they're very quickly found out. Not worth it, in my opinion.

LotD

Worst. Idea. For. A. Show. Ever. Apparently, a new show from Fox revolves around firing people on-air. Seriously. Real life people in real life jobs and their co-workers decide who goes, who stays. I just can't even fathom how something like this would work. Not to mention, who on earth would want to participate? I can't possibly see the value of Impending Doom being broadcast across the nation. And I know there are people who'd want to watch this train wreck of a show, but don't we see enough as we watch our friends and family members lose their jobs? Ugh. Terrible idea. As much as I enjoy reality shows, I'll pass on this one.

LotD

Here are some ideas on how to to expand the Cash for Clunkers program. I have a whole apartment full of stuff that I'd love the government to give me a rebate on so I can get something shiny and new. So how about it, Uncle Sam?

Impending Doom

Remember that book from the late 90s, "Who Moved My Cheese?" These days, it seems like lots of people are moving le fromage everywhere. "I didn't see it coming," one friend lamented to me a couple of days ago. Another friend said to me that she has survived two rounds of Impending Doom(tm) but now can't sleep or eat, she's so stressed because another round is sure to come.

I think waiting is the hard part. Anticipating kind of sucks too. I think the thing to recognize is that the cheese is going to move, whether you want it to or not. You need to always be thinking which way is which, and hopefully stay in front of the cheese.

Or something.

My point is, what's the plan? In situations of Impending Doom, it's rare that you as an individual have any control over what's happening or any influence whatsoever. So the only thing to do is prepare for the worst and hope for the best. And keep a stiff upper lip.

In my case, I made a plan which I hopefully will not have to implement. The plan, in broad strokes, goes something like this:

1) How will I handle myself? What questions do I need to ask?
2) What is my exit strategy?
3) What is next? How will I cope with extra time?

In the first case, I wrote out Things I Need to Know(tm). That way I don't miss anything important. This is the category for things like severance, insurance coverage, confidentiality agreements, non-compete clauses, etc. YMMV, but these are just some of the things to think about.

Second, how did you exit? I visualized what my vision of a dignified departure in the face of bad news would look like. I decided I wanted to be gracious and that I wanted to be sincere in my efforts. I wanted to feel like if I did indeed fall prey to Impending Doom (tm) that I had done everything I could to make myself and my company successful. I didn't ever want to look back and say, "I wish I had done that," or "If only I had done that." So I think about every day, "what can I do to be successful today? What can I do to make the company money today?" That way I don't have to be regretful about anything.

In the third case, I needed a plan for the extra time I might have on my hands. I can't possibly sit around and play word games on Facebook all day long. So I thought about what would I want to do? Do I want to write? Do I want to get back into web design? What about going back to school and acquiring additional skills? Honestly, all of those things sound like fun and I'm at a loss at focusing on just one of them.

Underlying all of this is the budgetary plan. This is the hardest part, and it's scary when you sit down and try to figure out how much your lifestyle costs on a monthly basis. Then you have to think that it could be 6 to 9 months before you find another job. I have friends who were out of work for a couple of years before finding something. YMMV. The point is, you take that Scary Monthly Lifestyle Cost and multiply it by 9. That's what you need to keep going.

Impending Doom, unfortunately, is broadening its reach. People who were safe through the first several rounds of layoffs aren't safe anymore. People talk about how to make yourself invaluable, etc., during this time -- how to keep the job you have. But at the end of the day, that decision isn't really yours, is it? I mean, to an extent you can make an effort, but roles and requirements change in a tight economy. So the idea is to have a plan of some kind so whatever happens, you can deal with it.

And honestly, it's better to plan now and not wait. There's a sense of security in knowing you know what's going to happen if the worst ever happens. Plus, if you've prepared and know how you want to deal with the situation, then you at least have the chance of being dignified and gracious. And remember -- the cheese is being moved because it's a business decision; it's not personal. The crummy part is, I think we understand the business decision part; it's the latter that's just so hard to accept and understand.