Word: maker
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...through recruiting has probably noticed that hiring is a little slower this year than in years past, and one of course can't help notice that many companies from all different industries and regions are laying off employees. The thing is, a dot-com firing 200 employees, an auto maker closing one plant and a newly-merged company like AOL Time Warner eliminating 1,200 redundant accountants and secretaries does not add up to a job market like that of the early '90s, when millions of jobs were lost every year. As it stands, the economy is currently adding...
Consider John Ellis, 45, who worked at AT&T and then at its spin-off Lucent for a total of 24 years. He left Lucent before the telecom equipment maker's recent string of bad news. But his 401(k) was always fully invested in Lucent stock, and a year ago, it was worth $500,000. A brutal 75% slide in Lucent's price in the past 12 months chopped his balance to $130,000. Sadly, Ellis' plight isn't unusual, nor is this solely a tech experience...
...black Democratic mayor of Philly and the black-Hispanic couple (twofer!) of West Chester, Pa. (Why all the fawning over the Keystone State?) He saluted the ailing Democratic congressman Joe Moakley. He quoted JFK and threw a bouquet to self-styled deal maker, Louisiana senator John Breaux. By comparison, poor Dick Gephardt and Tom Daschle seemed niggling and churlish in their Democratic response. Although you have to feel sorry for them: the faux library of a House office is no match for the live action drama from the chamber floor. It was all there: the dramedy of Sen. Hillary Rodham...
...father's company, IBM. When not working--which was most of the time--he threw parties, dated models and traveled the world. After several years of this, Watson got serious, and once he rose to the position of CEO, Watson transformed the company from an office machine maker into the world's most important computer manufacturer. Alan Greenspan studied music at Juilliard for two years, then dropped out to play for a jazz quartet for a year before starting business school and then getting into finance in 1948. Even then, he didn't finish his Ph.D until...
Most companies are using a combination of layoffs and cutbacks. For example, at telecom-equipment maker Nortel, where 4,000 job cuts were announced (4% of its workforce), employees are keeping travel costs down by attending corporate meetings via webcasts. And telecommuting is in: 20,000 employees now roll out of bed into the office, compared with...