Word: hires
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Dates: during 1990-1999
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...offers a useful illustration of the more elaborate ways in which the service sector has accommodated refugees from other parts of the economy: "There are so many complex choices in the mutual-fund world that you need an investment counselor," he says. "Computers change quickly, so you have to hire consultants. Law firms need more attorneys and the Arthur Andersens and KMPG Peat Marwicks are adding more accountants...
...course, the growing demand for professionals tends to mask the fact that millions of service workers remain stuck in jobs like waiter or sales clerk that pay little more than the $4.25-an-hour minimum wage. "All you have to do is hire two Goldman Sachs partners and you probably distort the average wage scale throughout the service sector," quips Bruce Greenwald, a management professor at the Columbia Business School...
Retailers too are hunting for skilled sales personnel to explain sophisticated products. Home Depot is increasingly turning to design-school graduates to work in its new line of Expo stores, which will cater to customers building new houses. The company has already hired armies of carpenters, electricians and other craftsmen to take the angst out of shopping as the do-it-yourself chain has expanded to more than 300 outlets. Home Depot went farther afield to hire Larry Wells, 43, who lost his $60,000-a-year job as an Eastern Airlines pilot when that carrier went out of business...
...will continue to hire," Bloom said...
Maybe that's what the industry should do -- hire Buffett to write all the mutual-fund prospectuses so investors would know what it was they were buying. And here's another idea: if we've got food labels and energy labels, why not an investment label? That's a proposal being floated by the Advocate's office. Fees and commissions, the performance of the fund, the risk rating and a short explanation of the strategy -- including any extra risks the fund is taking with, say, derivatives -- could all be included on the label. Maybe there could also be a generic...