Word: firms
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...after rising in August and September. The precipitous drop, said Monster Worldwide's vice president of research, Jesse Harriott, "suggests that U.S. businesses are scaling back their recruitment due to uncertainty surrounding the global financial crisis." Other reports confirm the trend: Almost 30% of executives surveyed by the consulting firm McKinsey and Co. in September said they expected their companies to slash staff over the coming six months. (See pictures of TIME's Wall Street covers...
...light peeking through the dark employment landscape - if you're seeking work in the right places. With consumers curbing discretionary spending, it makes sense to home in on recession-proof industries. "Health care has been the bulwark of the economy," says John Challenger, CEO of the global outplacement firm Challenger, Gray and Christmas. With proper medical attention a bedrock need, Challenger says a "wide swath of companies" have a need for physical therapists, nurses, medical records technologists and digital imaging specialists. Healthcare is also the industry showing the most growth in unionization, says Gordon Pavey, director of collective bargaining...
...stresses the controversial idea is only one of several options. Also up for discussion - this time between the FIA, teams and the majority owner of the sport's commercial rights, private equity firm CVC - is a new agreement governing the distribution of revenues from Formula One. The current deal gives each team a share of the profits that varies depending on their position in the championship. A new deal could increase the teams' combined share from 50% to as much...
Even by the heady standards of one of Europe's fastest growing economies, the Estonian housing firm Nova Haus was on a roll. Launched in 2004, with initial funding of just $13,000, it grew so fast that by 2006 it boasted 120 workers and a $2.5 million profit. In 2007 Nova Haus even took home the Estonian government's award for Developer of the Year. "It was crazy how easy it was," recalls Hegert Lepik, 28, a lanky economics graduate and father of two who helped found the company. "I kept asking myself: How is this possible? It almost...
...back to directors. And technically they've always had a duty to step in the way of anything that threatened their company's value. In fact, companies long ago thought they had figured out a way to shepherd individual interest. "Everyone thought risk-based compensation was equity in the firm," says James Wiener, head of the finance and risk practice at the consultancy Oliver Wyman. Employees at Lehman Brothers and Bear Stearns owned some 30% of their companies. At the end of the day, that didn't matter. Because altering a foundational element of an industry is difficult...