Word: marketeers
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Dates: during 2000-2009
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...pictures of the stock-market crash...
...that comes from Wall Street? What I found in my research was that in many ways investment bankers and how they approach work became a model for how work should be conducted. Wall Street shapes not just the stock market but also the very nature of employment and what kinds of workers are valued. These firms sit at the nexus - they are the financial advisers and sources of expertise to major U.S. corporations and institutional investors - and from this highly empowered middle-man role, what they say has a lot of influence. The model that came to be dominant...
...think that attitude follows from the way Wall Street works? What a lot of folks don't realize is there are tons of layoffs on Wall Street even during a boom. What they value is not worker stability but constant market simultaneity. If mortgages aren't the best thing, it's, "Let's get rid of the mortgage desk and we'll hire them back in a year." People were working a hundred hours a week, but constantly talking about job insecurity. Wall Street bankers understand that they are liquid people. It's part of their culture. I had bankers...
...book as many deals as possible for short-term bonuses, a workplace structured so that they're knowingly not there for very long - paved the way for the bust. I talked to bankers who said, "When we do deals like this, we're probably at the top of the market." They knew. It's not simply that busts always follow booms...
...this year, the state's Travel and Tourism Commission has opened offices in three Chinese cities. In 2005, Governor Arnold Schwarzenegger toured China on a six-day trade mission to peddle his state's produce, technology and raw materials. China is now California's fourth largest export market, after Mexico, Canada and Japan. In 2008 California exported $10.9 billion worth of goods to China, up 40% since...