Word: glutting
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...before 1983 graduates, according to the Northwestern University Endicott Report, a nationwide survey. That bait will be only about 4.8% above 1982 offers, however, which were 11.8% higher than in 1981. Observes Gretchen Thompson, career planning and placement director at the U.C.L.A. Graduate School of Management: "There is a glut of M.B.A.s on the market. So many no-name schools are turning out M.B.A.s that companies are looking for only the very best students with the best grades from the best schools...
...growing M.B.A. glut may have helped change the kinds of jobs that students are willing to take. Although consulting and investment banking remain frequent top choices, more M.B.A. candidates are now turning to the once shunned field of plant management. Positions in this area can quickly lead to running a division, and they pay well. Among the more popular new businesses are venture-capital firms, which offer high salaries for the talent it takes to dole out cash to promising young companies...
Universities increasingly count on the corporate world to absorb the glut of Ph.D.s. Such universities as Harvard, Pennsylvania, Stanford, Virginia, Texas and U.C.L.A. have set up programs to retool humanities Ph.D.s for jobs in the business sector. Says Ed Escobedo, director of career planning at Stanford: "Humanists can do just about anything. They possess writing abilities, administrative abilities and the ability to work with values." Since 1978, New York University has been conducting summer crash courses in accounting, finance, economics and marketing for scholars from all over the country. Of the 271 graduates, nearly all have got jobs...
...losers in all three markets were oil-drilling and oil-service stocks. The global glut that drove down crude prices also explains the comparatively meek rise in the Amex index: it is loaded with oil stocks. Its best stock last year, SMD Industries, makes picture frames and stationery. The shares rose by 592%, mostly on the strength of SMD's rights to make school supplies and stationery bearing the likenesses of two of the year's heroes...
...frequently bitter two-day session merely papered over conflicts that have been brewing since 1981, when the global recession helped spawn a worldwide oil glut. The 13 member nations agreed to let OPEC's bench-mark crude-oil price stand at $34 per bbl., its level for more than a year. They also approved a 1983 production limit of 18.5 million bbl. per day. That would be about the same amount that members pumped during 1982, but it would be higher than the 17.5 million-bbl. ceiling that OPEC set for itself last March. Said a U.S. oil-company...