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Big protests in Johannesburg (Saturday, 8/31/02)
Officials have been fearing that violence may break out in the streets during the Earth Summit in South Africa. Thousands of slum dwellers have been marching and protesting.

There is much strike talk across the country as Labor Day approaches (Saturday, 8/31/02)
Adam Geller finds increased confrontation at the expense of celebration near Labor Day 2002. Meanwhile, Sherwood Ross writes from Charlottesville, Virginia about the condition of the nation's working poor this Labor Day.

Time to start praying (Saturday, 8/31/02)
Argentina's President apparently thinks it's time to seek divine intervention in the nation's financial mess.

Teen employment during the summer has been WAAAAY down (Saturday, 8/31/02)
A survey conducted by the National League of Cities finds the rate of summer employment of American teenagers has hit its lowest point in 37 years.

The economy's weakness could cause gaps to widen again (Saturday, 8/31/02)
John Gallagher says that some of the gains made by women and minorities in the booming '90s could be lost now that the American economy is sputtering. However, as Leslie Kaufman reports, while one might expect that it's a lot easier to move people from welfare to work when there were plenty of jobs, the number of people on public assistance has not been increasing as the economy has slumped, as many had feared. At least, not in New York City and some other major urban areas.

If you think WorldCom's losses were impressive... (Saturday, 8/31/02)
Ian Campbell says that, like WorldCom, the U.S. government finds that it has somewhat less money than it thought, except that, in the case of the government, it's trillions rather than billions.

Always in touch (Saturday, 8/31/02)
For a very long time, if you wanted to work closely with someone, it was necessary to occupy some of the same space. Not so any longer. Hi-tech has made geography irrelevant in a variety of ways. Kirstin Downey Grimsley examines findings from a survey conducted by the American Business Collaboration that most U.S. workers now are in touch with colleagues electronically, one way or another.

Today's NewWork News Web Tip: Historical Statistics on Banking (Saturday, 8/31/02)
For those who want to track the American banking industry, here are historical statistics beginning in 1934 from the Federal Deposit Insurance Corporation.

Joy in Mudville (Friday, 8/30/02)
The question of whether it will be ball or strike has been answered. A last-minute deal has been reached. The rich and the richer have agreed not to shoot themselves and each other in the foot while alienating fans in the process. There will be no baseball strike, according to CNN.

Sanctions against the U.S. approved by the WTO (Friday, 8/30/02)
The European Union has been seeking sanctions against the United States because of what it has called illegal tax concessions, and the World Trade Organization apparently has agreed to the tune of $4 billion. Is a transatlantic trade war brewing? It the WTO itself threatened? We don't know either.

Nose to the grindstone in Johannesburg (Friday, 8/30/02)
Matt Daily and Robin Pomeroy report that negotiators at the big Earth Summit are working to exhaustion in an effort to reach agreements on how to help the world's vast poor populations without finishing off a planet that already seems to be gasping.

The U.S. has been widely criticized for not taking a central role in these talks, given the fact that it is essentially a hegemonic state at this point with vast wealth. Also with approximately five percent of the world's population, it consumes far more than its share of energy each year and puts far more than its share of pressure on the global environment, according to critics. The New York Times reports that, in response, the U.S. has been calling attention to aid projects which critics are calling inadequate. The Bush administration also has been stung by people in other regions who are saying that, while the U.S. wants international support on issues relating to terrorism and Iraq, it doesn't seem willing to work closely with other nations to solve fundamental global economic and environmental problems. Can the U.S. have it both ways?

More evidence of a drooping recovery (Friday, 8/30/02)
The Commerce Department has made its reading of second-quarter growth official. The GDP grew at an annualized rate of only 1.1 percent during the April-June period. Here are details from the New York Times on that as well as another report. However, even though incomes did no more than remain steady in July and consumer confidence has declined, consumer spending was brisk last month. Here's more on that from Jeannine Aversa in Washington.

United's plan for avoiding bankruptcy (Friday, 8/30/02)
United Airlines is in danger of following US Airways into bankruptcy court, and it will need to cut costs by $2.5 billion during each of the next half-dozen years in order to avoid that. This will require a major reduction in pay and benefits for United's employees, they say, but, as Keith Alexander reports, the workers have not joined in a chorus of approval. Elsewhere in the airline industry, Midwest Express flight attendants say they will engage in some sort of walkout now that negotiations have continued past their deadline. Meanwhile, out in Seattle where many of the planes are manufactured, Boeing's machinists will continue working, even though the company is refusing to negotiate further.

Sympathetic judge dismisses case anyway (Friday, 8/30/02)
The New York Times' Barbara Whitaker has the latest on that suit brought by Mexican laborers who had savings taken from their pay during the 1940s. In San Francisco, Deborah Kong reports that supporters of the plaintiffs are urging a boycott against Wells Fargo.

Ratification at UPS (Friday, 8/30/02)
Members of the Teamsters have voted their approval of a new six-year contract with United Parcel Service. Incidentally, a new AFL-CIO poll finds that American workers are feeling better about unions in the wake of the big corporate scandals. It's good news to union organizers, because organized labor has been having a hard time during recent years, given a big decline in union membership in the private sector over the latter part of the 20th century.

Intel thinks beyond Santa Clara and Bangalore (Friday, 8/30/02)
Intel, which was hatched and grew to prominence in America's Silicon Valley, has been one of the most influential companies in the world during the past 40 years or more. Now, it clearly intends to broaden its scope as a global, as opposed to American corporation. We reported yesterday on its decision to make major new investments in India's hi-tech economy. The company also has big plans in China and Russia.

How America's workforce may look in eighteen years (Friday, 8/30/02)
A new report from the Aspen Institute provides a picture of important demographic changes in the U.S. that are likely to result in sluggish economic growth and greater inequality. Here's more from Daniel Altman.

Alan says the Fed couldn't have made the exuberance more rational (Friday, 8/30/02)
The Chairman of the Federal Reserve says that any treatment the big central bank could have administered to lance the 1990s bubble could have been even worse than the disease. Here's more from Martin Crutsinger on Mr. Greenspan's speech an the Fed's annual symposium.

Another big new thing may be brewing in California (Friday, 8/30/02)
Since the gold rush of the mid-19th century, many people have noticed that national trends, good and bad, often first appear in California. It's why so many people are watching closely to see if the state may require employers to grant PAID family leave. Workers across the country now have a legal right to leave their jobs for a while in order to deal with various kinds of family emergencies, but without pay.

Today's NewWork News Web Tip: Encyclopedia of Law and Economics (Friday, 8/30/02)
The Encyclopedia of Law and Economics comes from scholars at the University of Ghent in Belgium, but it is international in scope. It's a huge resource for those interested in economic and legal issues throughout the world.

Labor Day could become no labor day at Boeing and on the playing fields (Thursday, 8/29/02)
A strike at Boeing could come as early as Monday. Here's more from Martha McNeil Hamilton. Closer to the ground, in a sense, negotiators are running out of time in major league baseball as well, and both sides recognize the possible economic consequences.

Severance package approved at Enron (Thursday, 8/29/02)
A bankruptcy judge has signed on the dotted line, and it means that $28.8 million will be distributed to more than 3,500 laid-off Enron workers. The most that any one person can receive will be about $13,000, but the average will be less than $7,000.

Have US Airways workers decided to accept concessions? (Thursday, 8/29/02)
Yes and no. Some have; some haven't. Here's news about how the vote came out from Matthew Barakat in Arlington, Virginia just outside Washington, D. C.

Is the pendulum beginning to swing back? (Thursday, 8/29/02)
A few years ago, government was blamed for nearly every possible wrong, and many people liked to believe that nothing run by government could operate very well. There was a movement to privatize and deregulate everything in site. We wondered at the time if this meant that we should rely on mercenaries in a war, rather than on a professional military. The September 11 terrorist attack and the big corporate scandals may have done something to convince many people that government can be nice to have available in a crunch, and there are other signs that people are beginning to ask more rational questions such as "What are the CONDITIONS under which it is better to privatize vs. not privatize." Big losses at a British nuclear plant are fueling the privatization debate anew in the UK, and Max Jarman writes in the Arizona Republic about the likely effects of re-regulating the state's electricity production.

More people will work for Intel in India (Thursday, 8/29/02)
The big chip manufacturer intends to invest $130 million in its operations in the world's second-largest country where there are a lot of highly sophisticated tech experts. Intel will increase the number they will employ in India by more than 300 percent as a result of this expansion.

Reports about the death of business on the Internet have been premature (Thursday, 8/29/02)
The principal problem producing the tech wreck of recent years was too much "irrational exuberance," as Alan Greenspan put it. The "greater fool" principle was operating for a while, and investors were willing to throw money at nearly any hair-brained or no-brained scheme, so long as it had "dot-com" in its name. When all that came crashing down, it convinced some people that the Internet was just a passing fad after all, and would end up wherever all the unsold Davy Crockett hats are stored. Is anything really being sold on the Internet? Yes, indeed, according to a new report from the Census Bureau. Retail sales online were up nearly twenty-five percent during the second compared to a year earlier. Here's a non-obvious example: An increasing proportion of the millions of American college students are going online to purchase their textbooks. The hype has subsided, but the Internet quietly continues to change the world anyway.

What kind of retirement plan is best for you? (Thursday, 8/29/02)
Your age should help you decide, according to Scott Burns in the Houston Chronicle.

Working parents are calling their lawyers (Thursday, 8/29/02)
A growing number of parents who are trying to juggle work and family obligations feel that they're victims of harassment and discrimination, and some are filing suit against their employers. Here's more about a new study from American University in Washington, D. C.

Thousands apply for 150 jobs (Thursday, 8/29/02)
One-hundred-fifty job openings West Virginia's Weirton Steel Corporation attracted 6,000 applicants.

Many executives may lose insurance policies because of new law (Thursday, 8/29/02)
The new Corporate Responsibility Act may result in the elimination of so-called split-dollar life insurance policies that have been used as part of executive compensation. Tracie Rozhon and Joseph Treaster have some details.

Maybe management has been using too much of their own product (Thursday, 8/29/02)
Bruce Schreiner reports on the controversy at the Jim Beam distillery in Clermont, Kentucky over company policy limiting the number of times workers can use the bathroom during a work shift.

Economic engineering (Thursday, 8/29/02)
The purpose of science is to create knowledge; the purpose of technology is to use it. To what extent is the systematically acquired knowledge of economics sufficient to allow effective application to the real world? Hal Varian says an increasing number of economists are being asked to take on "engineering" roles, as opposed to purely scientific ones.

Tech summer for teachers (Thursday, 8/29/02)
A Silicon Valley program provides an opportunity for teachers to learn technical skills in tech companies during the summer. Here's more from Karen Alexander of the Los Angeles Times.

Today's NewWork News Web Tip: The Russian Economy (Thursday, 8/29/02)
Michael Bernstam and Alvin Rabushka are fellows at the Hoover Institution at Stanford University. The Russian Economy features two of their books plus many articles and commentaries.

Now is heard a discouraging word from consumers (Wednesday, 8/28/02)
Consumer spending makes up about two-thirds of the U.S. economy, so measures of consumer confidence tend to attract considerable interest. The latest numbers show consumer confidence at its lowest point in nine months. It's not all bad news, though. Business spending on durable goods has been at its highest level during the same nine month period, according to Jonathan Finer.

More cuts at Nortel (Wednesday, 8/28/02)
Nortel Networks Corporation intends to cut another 7,000 jobs. Nortel is a major telecommunications equipment manufacturer and has been struggling because its entire sector has been struggling. The company now employs fewer than half of the people it employed as late as December 2000. Elsewhere, cuts include 1,100 planned by Navistar International which serves the trucking sector.

Summit participants discuss water (Wednesday, 8/28/02)
A major portion of the world's population lacks access to clean water, a basic economic-environmental problem that delegates at the big summit in Johannesburg are trying to address. Incidentally, many people in the U.S. have insufficient water right now too, particularly farmers in the large drought regions. Global warming results in more moisture in the atmosphere, and contributes to greater extremes in weather and climate, meaning that storms get more vicious, on the average, and some regions get inundated with rain while others go without entirely.

Selig gets involved again (Wednesday, 8/28/02)
The Commissioner of Baseball has stayed out of negotiations for quite a while, but says a deal is needed by late tomorrow, or they'll all have major problems. That's probably correct. If the battle between the rich and the richer results in a strike again this fall, many Americans may search for a different pastime.

Thousands of former Enron workers are about to receive their money (Wednesday, 8/28/02)
A bankruptcy court is expected to give final approval to a $28.8 million severance agreement. More than 4,000 former Enron employees are expected to benefit.

Some snapshots of the employment picture for women (Wednesday, 8/28/02)
A new report from the Employment Policy Foundation forecasts a major restructuring of the U.S. workforce during the next thirty years. For one thing, there are likely to be more women than men in management and professional positions. Meanwhile, research from the Annenberg Public Policy Center at the University of Pennsylvania finds women making little progress in the top professional ranks of major communications companies during the past year.

Does AOL Time-Warner feel flattered? (Wednesday, 8/28/02)
If imitation is the sincerest form of flattery, one newly merged company may be following in the footsteps of a recently merged company. Not so terribly long ago, the merger of Time-Warner with America Online was the most hyped item in the business press with much talk about "synergies," and so on. Instead, what happened was the single largest quarterly loss in American corporate history at the beginning of this year--more than $50 billion.

Then, came the highly publicized argument between those who wanted to see a merger of Hewlett-Packard with Compaq and those who didn't, with the former winning out. Now, the new HP reports a $2 billion quarterly loss, which, while not as impressive as the other loss, still is enough to attract quite a lot of attention. Company officials say that it's not unexpected, that all is well, and that the process of melding the two big computer companies is proceeding as expected. Not to worry.

At least, the new HP is in one business. The humungous mess that is AOL Time-Warner, on the other hand, is reminiscent of the old gag about the "Grace L. Ferguson Airline and Storm Door Company." in one of Bob Newhart's original comedy albums

No new tariff, please (Wednesday, 8/28/02)
Either imposing tariffs or not imposing tariffs is likely to make a lot of people mad. When the Bush administration imposed protective tariffs on imported steel after talking a lot about free trade, it made a lot of people use the word "hypocrisy" a lot, as well as other words we'd rather not repeat here. However, a federal panel has decided against a new tariff on cold-rolled steel, even though many American producers say they need protection.

Boeing machinists to vote Thursday (Wednesday, 8/28/02)
Members of the Machinists union will decide whether to accept an offer that the company says is its "best and final."

The end of an era (Wednesday, 8/28/02)
Because it has happened so gradually, many people seem to have missed the historic significance of the end of the age of inflation, according to economics writer Robert Samuelson. Some things are so big and important that nobody can notice them. Ah, what Rocky Mountains?

Today's NewWork News Web Tip: The Corporate Library (Wednesday, 8/28/02)
The Corporate Library offers resources for those wanting to study and think critically about the modern global corporation.

US Air wants labor contracts nullified (Tuesday, 8/27/02)
Keith Alexander reports that the bankrupt airline is asking the bankruptcy court for help in getting out of labor contracts affecting 19,000 employees.

The two Koreas talk about connections (Tuesday, 8/27/02)
Economic experts from North Korea and South Korea are meeting in Seoul to find a way to link the oh-so-close yet oh-so-far-apart countries by rail and road.

Bias suit dismissed (Tuesday, 8/27/02)
A judge has dismissed a sexual harassment suit brought against the Ford Motor Company, claiming that the plaintiff and her lawyer have been trying to prejudice potential jurors still out there among the public.

Problems of the uninsured inch toward the top of the Congressional agenda (Tuesday, 8/27/02)
Once upon a time, a Clinton who was president and a Clinton who would become a U.S. Senator tried to rebuild the American healthcare system from the ground up and got nowhere. Over the years since, healthcare costs have continued to rise, and an increasing number of people have become uninsured, some because of job losses. Milt Freudenheim reports that some in Congress, including an influential Democratic Senator who seems almost like a Republican to many people, think that the next big Congressional debate will be about the problems of the uninsured.

Have you heard the one about the future surplus? (Tuesday, 8/27/02)
No joke. But, the Congressional Budget Office has scaled back its projections considerably.

Summit seeks action, not just talk (Tuesday, 8/27/02)
Talk is cheap, plentiful, and unending. Secretary General Nitin Desai of the new Earth Summit in Johannesburg says there is more chance of substantive action and success this time than during the previous summit in Rio de Janeiro in the 1990s. Matt Daily has the reasons why.

The feds will pick up pension costs for employees of bankrupt company (Tuesday, 8/27/02)
Harvard Industries--having no connection to the famous university--is bankrupt and liquidating, leaving 9,100 workers and retirees without pension benefits, except that the federal government is stepping in to be sure the checks keep on coming, according to the Detroit Free Press.

Continuing argument over tech visas (Tuesday, 8/27/02)
Hi-tech company executives and American tech workers tend to disagree about the proper role of H-1B visas, even though the number granted has declined by about fifty percent during the past year.

Many can't meet the new standards (Tuesday, 8/27/02)
Gail Russell Chaddock tells about how the national teachers shortage is aggravated by tougher qualification standards.

Biz educators want ethics included in the curriculum (Tuesday, 8/27/02)
The University of Akron business school is encouraging students to take a course in the philosophy department. Here's more from Paul Singer in Akron.

Whoops!--Pennsylvania closes a loophole (Tuesday, 8/27/02)
Pennsylvania's college savings plans have permitted some people to benefit from withdrawals in ways not intended. Judy Fettner says the state is fixing the problem.

Companies try to soak Uncle Sam (Tuesday, 8/27/02)
Some of the companies that screen passengers in the nation's airports have increased their fees now that the federal government is paying for the service. Here's more about the Transportation Department's inspection from Leslie Miller.

Is the MBA worth what it costs? What would it be worth if it didn't cost anything? (Tuesday, 8/27/02)
A new article from Jeffrey Pfeffer and Christaina Fong of Stanford's Graduate School of Business calls the value of the often sought after Master of Business Administration into question. A degree which has little point if it doesn't relate to the practical world off campus often, well, doesn't relate all that much to the practical world off campus, according to the authors. In other higher ed news, Ellen McCarthy reports that hi-tech doesn't have the attraction for many students that it once had, and the reasons aren't difficult to determine.

There IS a correlation between executive pay and performance after all (Tuesday, 8/27/02)
Apparently, it isn't what many have hoped, however. Columnist Diane Stafford of the Kansas City Star says that a new survey has found a negative relationship.

Today's NewWork News Web Tip: Pilot Environmental Sustainability Index (Tuesday, 8/27/02)
Which countries are growing their economies in an environmentally sustainable way? A couple of years ago, the World Economic Forum conducted a pilot study in an effort to develop an Environmental Sustainability Index. Their report is accessible on the web.

Prelude to the summit (Monday, 8/26/02)
Rachel Swarns is in Johannesburg where a large number of heads of state plus tens of thousands of other people will be attending the UN's World Summit on Sustainable Development. Africa is a good place to see examples of the problems which participants will try to address. Paul Zielbauer reports that the big global gap between rich and poor can be seen in microcosm in a single New England community, as well as lots of other places.

Workers disagree with President Fox on power question (Monday, 8/26/02)
Mexico's President wants to allow foreign companies to compete with the state in the production of electricity, and workers in Mexico feel that their jobs are threatened.

Manpower survey says to expect little job growth during the remainder of the year (Monday, 8/26/02)
Manpower, Inc. has survey U.S. companies and concludes that hiring will remain fairly steady for the rest of this year. Here's more from Melissa McCord in Milwaukee.

Marchers reach Sacramento yesterday (Monday, 8/26/02)
Thousands of farm workers have been walking toward California's capital for the past eleven days. Jessica Brice reports that they arrived yesterday to show their support for a bill that would give farm workers the right to binding arbitration.

Higher ed finance for individuals (Monday, 8/26/02)
Linda Stern has some advice for this fall's college students on the general problem of managing money successfully. The Detroit Free Press' Brenda Rios says some students...as well as other people...are finding that they can save by getting rid of phones that allow the calling of places rather than people.

Scrambled nest eggs (Monday, 8/26/02)
Steve Dinnen reports that there is growing nervousness about traditional pensions as well as 401(k)s, and Dee DePass says that when people hang on and don't retire, it clogs up the pipeline.

Here are people who WANT to move to Siberia (Monday, 8/26/02)
Not for the political reasons of old, and it IS voluntary, or, at least, seems to be. In this case, we're talking about Chinese workers who are seeking employment in some of Russia's less populated regions. The Russian government is trying to reassure local residents.

New university in a region not known for freedom of thought (Monday, 8/26/02)
Barbara Crossette tells about the University of Central Asia that is in development in a region that will need new leaders who are in touch with the realities of the modern world, or, for that matter, realities of any kind.

Are Xers more savvy than boomers? (Monday, 8/26/02)
The huge baby boom generation is often accused of being the most self-conscious, self-obsessed, self-indulgent of recent American history. Whether this is true or not, there is growing concern about what will happen when these millions reach retirement age. A half a hundred million of their juniors may end up better prepared for their later years, given what appears to be significant awareness of and sophistication with money.

Wealth vs. income (Monday, 8/26/02)
Janita Poe reports from Atlanta that African Americans have done more to close the income gap than the wealth gap in American society.

Self-examination (Monday, 8/26/02)
Outgoing head Mike Moore isn't entirely satisfied with his performance as head of the World Trade Organization.

Leave law used by few (Monday, 8/26/02)
Americans workers have a right to take unpaid leave in order to meet certain family responsibilities, but, as Fay Hansen reports, not many take advantage of it. "Unpaid" may be the key word and key reason.

The gossip police (Monday, 8/26/02)
Actually, office gossip hasn't really become illegal, but Amy Joyce reports on efforts to make it taboo.

Today's NewWork News Web Tip: Working Women Working Together (Monday, 8/26/02)
While there has been some progress narrowing the gender wage gap during recent years, American women who work outside the home still earn approximately three-quarters of what men earn. A variety of factors may contribute to this gap, in addition to lingering institutional discrimination, as claimed by many commentators. Here's the Working Women Working Together site from the AFL-CIO.

New data on layoffs (Sunday, 8/25/02)
There was a big increase in the number of layoffs in the United States during the two years between 1999 and 2001, according to a new report from the U.S. Department of Labor.

Excess capacity holds back growth (Sunday, 8/25/02)
In many sectors there is simply too much already. There is excess capacity in telecommunications, corporations already have tons of hi-tech equipment, many airlines have planes parked on the ground. Steven Pearlstein says this is why companies aren't hiring and stepping up further production. Instead, most companies are trying to cut costs, and, according to Louis Uchitelle, that can set off a downward spiral. He explains a leading economist's concept of the "paradox of thrift."

Hasty action with November's election in mind (Sunday, 8/25/02)
The Administration and the Congress want to provide new "reforms," but Albert Crenshaw says they may be more likely to help get somebody elected in November than really benefit retirees.

Abilities, not disabilities (Sunday, 8/25/02)
Job seekers and career changers often are advised to "lead with your strengths." The reason is that there are an almost infinite number of things that each of us is NOT good at. It probably won't pay to focus energies on trying to become a little less bad at something. Better, instead, to concentrate on the things we ARE good at and strengthen those. The situation of people with physical disabilities really is no different, but because of the visibility of their particular disabilities--as opposed to those of the rest of us which may not be so obvious--others often forget. Here's more from Washington Post columnist Amy Joyce.

Will all U.S. health workers be vaccinated for smallpox? (Sunday, 8/25/02)
Everyone is waiting for the announcement of an official government policy, according to Lawrence Altman of the New York Times.

The government should make investing more attractive, writer says (Sunday, 8/25/02)
According to one author, here are some ways that the government could provide additional incentives for investors.

Capitalism, Swedish style (Sunday, 8/25/02)
David Kaplan writes about a Houston executive who is both highly capitalist and highly egalitarian.

Today's NewWork News Web Tip: Independent Means (Sunday, 8/25/02)
Independent Means offers resources to help in the raising of financially savvy kids.

Lucent plans more cuts (Saturday, 8/24/02)
Tens of thousands of jobs already have been cut at Lucent Technologies and more are coming. However, the company says that reports of 15,000 additional job cuts are incorrect. There won't be that many, according to company executives, but the precise number is yet to be determined.

Kim seeks advice from Putin (Saturday, 8/24/02)
Not so many years ago, the rulers of North Korea and those of the old Soviet Union were ideological soul mates. Times have changed in Russia, and North Korea now finds itself increasingly isolated as one of the few remaining communist states on earth. However, if you believe that pigs fly, you may also be willing to believe that change is also in the wind in what might be the worst place on earth, if there were not so much competition. North Korea's Kim Jong Il, who has been elected by nobody, with the possible exception of his unelected father, has been conferring with Russia's democratically-elected President on how to achieve economic change without setting off chaos and anarchy at great cost to the North Korean people. In other words, how can the North Korean government dismount from a tiger?

It all seems to support the notion that seeds planted by a few white, male landowners on the east coast of North America in the late 18th century really have been democratizing the world over the years since. What started as a North American oligarchy that challenged British colonialism has resulted in an increasingly democratic United States, the destruction of centuries of aristocratic European monarchies, the totalitarian states of the 20th century, and is now resulting in profound changes in what was once Mao's China, and even grim, regimented, irrational North Korea.

In the United States itself, we might expect that this process will result in an eventual narrowing of the tremendous gap between policies based on traditional beliefs about nature, including human nature, as well as the past, on the one hand, and the fruits of the recent knowledge revolution, on the other. Stay tuned.

Prep for next week's summit (Saturday, 8/24/02)
David Clarke says that leaders have been meeting in Johannesburg in an attempt to put next week's summit on the right track . How to narrow the global wealth gap without wrecking the environment is the question on most participants' minds, while all the time assuming that the world's rich won't be willing to narrow the gap by becoming less rich.

CAW strike vote scheduled for tomorrow (Saturday, 8/24/02)
Members of the Canadian Auto Workers will vote on Sunday on whether to allow their union to call a strike against General Motors Corp., Ford Motor Company, and DaimlerChrysler in Canada. Speaking of Ford, the big automaker has made a deal with the Ohio to keep 2,000 jobs in the state for another five years.

You may have missed your chance to become a Swiss banker (Saturday, 8/24/02)
After a hiring frenzy a while back, Swiss banks have been cutting jobs at a furious rate.

United's flight attendants offer conditional support (Saturday, 8/24/02)
The 26,000 flight attendants at United Airlines don't want their company to be the next airline to file for bankruptcy, but they're saying that their willingness to go along with management's restructuring plan depends on whether it includes a realistic program for bringing about the complete long-term recovery of the airline.

Turnover reconsidered (Saturday, 8/24/02)
It's generally thought that a high turnover rate is bad for a company, but is it? Judy Olian offers an alternative view.

Telecommuting begins to catch on (Saturday, 8/24/02)
While most employers still seem to want their workers able to congregate around the water cooler, the telecommute is becoming less taboo among bosses. Sherwood Ross has more from Charlottesville, Virginia.

Today's NewWork News Web Tip: Financial Engines (Saturday, 8/24/02)
Financial Engines offers investment advice and was founded by Bill Sharpe, winner of the Nobel Prize in economics. He was a guest on PBS' "Wall Street Week with Fortune" last night.

Senate committee expects huge deficit (Friday, 8/23/02)
You may want to wait until sometime after the November election before listening too much to what the two major parties have to say about the likely size of the deficit. At the moment, Republicans have a vested interest in minimizing, while Democrats have a vested interest in maximizing. Nonetheless, here's what the Democratically-controlled Senate Budget Committee is predicting.

The growing weariness of US Airways workers (Friday, 8/23/02)
It's been one thing after another for the employees of bankrupt US Airways, the first of what could be several airlines needing protection from creditors in order to try to get on their feet again during a very tough time for the airline industry. Kirstin Downey Grimsley says US Air's latest cuts aren't the first things that employees have had to suffer in recent years as their company has struggled.

Black farmers petition their government (Friday, 8/23/02)
A bias suit brought by black farmers against the U.S. Department of Agriculture has gone on for five years, which demonstrators yesterday feel is too long.

Dip in jobless claims (Friday, 8/23/02)
Applications for first-time jobless benefits declined a bit last week, according to the latest Department of Labor numbers. Ira Breskin says that many people on Long Island formerly used to the fast track are trying to reconcile themselves to joblessness for the moment as well as the likelihood of a less ambitious future.

Summit outcome may depend on the U.S. (Friday, 8/23/02)
Brad Knickerbocker of the Christian Science Monitor discusses the controversy over whether the U.S. is being obstructionist in relation to Earth Summit 2.

The tough job of First Cheerleader (Friday, 8/23/02)
Most of what the government can do fiscally and monetarily to get the economy going already has been done. About all that remains is for top officials, particularly the President, to try to rally individuals and companies to invest and spend in order to stimulate a higher level of economic activity. It's a tough job, because presidents, in particular, are relatively powerless to make good economic things happen, but voters tend to hold them accountable anyway. Here's more from Peter Grier in Washington. Still, if you're dissatisfied with the American economy's performance at the moment, it may make you feel better to think about how Japan is doing, according to Mike Myers.

Another crack in the glass ceiling? (Friday, 8/23/02)
Eighteen women are serious candidates for governor this fall. Robert Tanner has more on what is may be a record number of female governors by a wide margin.

More retirement surprises (Friday, 8/23/02)
Columnist L. M. Sixel tells about people who are losing their promised health coverage.

Contaminated cash (Friday, 8/23/02)
Alan Bernstein of the Houston Chronicle reports that charities that have received money from former Enron financial officer Andrew Fastow's charitable foundation are wondering what to do with it. Ultimately, Fastow may or may not be charged with anything, but it's clear that the feds are trying to find a way to reach him in order to reach people formerly at the very top, given the plea agreement reached with Kopper. Enron's current CEO, Stephen Cooper, who has been brought in to try to clean up some of the mess, sees an era of regulation ahead. According to him, we can expect more government regulation of business than any time since the aftermath of the great stock market crash of 1929.

Private donors help out (Friday, 8/23/02)
The heads of a growing number of public universities are being compensated at levels that many consider breathtaking for educators, and, as Dean Murphy reports, it's largely because of outside help. You may ask what they expect in return. Go ahead, ask.

Hooked on the net (Friday, 8/23/02)
A survey conducted by Websense finds that a quarter of U.S. workers report being "addicted" to the Internet, although a smaller proportion of employers seem to be aware of it. If the finding seems a bit high, you are entitled to wonder about the research methodology employed and whether representative sampling was used. We don't know either.

Incidentally, during recent years the term "addiction" has come to be used very loosely in American society, particularly the pop culture. Originally, it was intended to refer to a genuine physiological dependency, such as some conditions involving drugs. When used in relation to things such as the Internet or gambling, for instance, we're not properly talking about genuine addiction, although it may be a form of obsessive-compulsive disorder, which is quite different and occurs because of different neurological processes. However, in many cases, it doesn't even refer to something that extreme. Some people say "I'm addicted..." to this or that, when they really mean that they like it a lot or spend a lot of time on it. No genuine psychopathology may be involved.

Here's what may be an convincing effort to discourage the sending of junk faxes (Friday, 8/23/02)
If your office fax machine often is clogged with stuff you didn't ask for, don't want, won't read, can't wait to get rid of, stuff that makes you remember bad language you haven't used since you were fourteen, you'll sympathize with the suits brought against Fax.com. A total of $2.2 trillion (sic) is being asked.

Today's NewWork News Web Tip: Investor Building Blocks (Friday, 8/23/02)
Investor Building Blocks is an investment primer from Investopedia.

US Airways to cuts flights and jobs (Thursday, 8/22/02)
As part of their bankruptcy reorganization plan, US Airways intends to cut 13 percent of its flights as well as an as yet undetermined number of jobs. Air Canada is also cutting 1,300 jobs, but simply in order to adjust to the expected decline in bookings during the fall and winter, they say. Christina Valhouli of Forbes writes about the reduction in the number of planes in use that has gone on across the industry and how it's causing overcrowding on existing flights as well as customer dissatisfaction. Meanwhile, customer service representatives at American West have decided to take a vote on unionization, while pilots are being honored for "superior airmanship" at the Air Line Pilots Association's 48th annual safety conference in Washington.

United Way scrutinized (Thursday, 8/22/02)
Senator Charles Grassley was instrumental in the inquiry into the Red Cross' handling of funds contributed after the September 11 terrorism attack is now looking into how the United Way has been handling its finances in response to a scandal in the D. C. area.

Advice for summit participants (Thursday, 8/22/02)
The World Bank says that the Earth Summit next week should take action on environmental and social issues. Here's more from Harry Dunphy in Washington.

W fears a W (Thursday, 8/22/02)
Edmund Andrews thinks that the President has good reason to be concerned with the possibility of a double-dip recession, particularly during an election year when control of both houses of Congress is at stake. Arik Hesseldahl of Forbes says that's what one significant part of a key sector seems to be experiencing already. Meanwhile, experts at the Commerce Department's Bureau of Economic Analysis have been working overtime hoping to see what lies ahead, because that's their job.

Here's an example of temps becoming permanent (Thursday, 8/22/02)
Louis Uchitelle says that Bureau of Labor Statistics data are showing an increase in the number of permanent layoffs.

More job cuts at Siemans (Thursday, 8/22/02)
The big--but not so big as it used to be--German electronics company is finding that the 16,500 job cuts already planned aren't going to be quite enough. Another 1,300 jobs will have to go.

Cutting classes? (Thursday, 8/22/02)
Classes are scheduled to get underway on the famed campuses of the University of California, but there may be a slight delay as lectures and clerical workers vote to strike next week with the hope that this will galvanize university negotiators. In other labor news, machinists at Boeing aren't satisfied with what the company has proposed. The Christian Science Monitor's Laurent Belsie notes an increased militancy on the part of organized labor across much of the American economy.

Satisfaction on the decline (Thursday, 8/22/02)
A new survey conducted by the Conference Board, best-known for its Index of Leading Economic Indicators, shows that more Americans are unhappy with their jobs. The decline in satisfaction with work seems greatest in New England, according to Robert O'Neill.

Today's NewWork News Web Tip: Silicon Salley (Thursday, 8/22/02)
If you're a woman and interested in nearly anything having to do with computers, Silicon Salley may be for you.

Job cuts at Cingular (Wednesday, 8/21/02)
The second-largest wireless company in the United States will eliminate 3,000 workers, which amounts to 7.5 percent of its overall workforce.

Help for Africa (Wednesday, 8/21/02)
The African continent has been infested with famine, war, AIDS, and other problems, all with devastating effect. The Bush administration is proposed to spend almost $4.5 billion to help out. Speaking of Africa, Joseph Verrengia offers some perspective on the big summit that begins next week in Johannesburg. He doesn't expect a great deal. Maybe huge, ambitious, expensive projects don't offer the best hope for relieving world poverty after all. Daniel Altman reports that a group of young economists favors a grass-roots, smaller scale approach to development that focuses on motivation and the flow of information.

Presidential advisor doesn't see another recession directly ahead (Wednesday, 8/21/02)
A "double-dip" is quite unlikely, according to the Chairman of the White House's Council of Economic Advisers.

Time warp (Wednesday, 8/21/02)
So far as the movement toward increased reliance on renewable energy is concerned, it's still the early 1990s. Not much has happened during the past ten years, and, as the New York Times reports, economic interests have had a lot to do with keeping things mostly the way they are. When energy production by alternative means becomes more profitable than fossil fuels, things will change. When will that be? It's hard to say, but the current situation won't continue indefinitely. Incidentally, while it may seem as though the world has relied on oil forever, the grandparents of some of our older readers had already been born when it all started. In the broad span of history, it's been a fairly recent occurrence.

Update on Malden Mills (Wednesday, 8/21/02)
Malden Mills is the company that kept paying its employees after a fire had destroyed their workplace while the plant was being rebuilt. However, by the time the company was back in action, other problems developed, and it has had to file a bankruptcy reorganization plan. As Jay Lindsay reports from Boston, that plan won't involve significant job cuts, and it would leave the family that has owned the company for years squarely in charge.

GM doesn't expect to be sunk by pension obligations (Wednesday, 8/21/02)
The cost of supporting General Motors retirees may be as much as $1,000 per vehicle, which one would expect to put the big auto manufacturer at a serious competitive disadvantage. Nonetheless, company executives are saying that they regard their heavy pension obligations as manageable. Here's more from Michael Ellis in Detroit.

Hard times for execs? (Wednesday, 8/21/02)
In the wake of the scandals and despite efforts to tighten things up a bit, most top corporate executives probably won't have to go on food stamps. But, there are likely to be somewhat fewer perks. Here's more from Kathy Kristof of the Philadelphia Inquirer.

Today's NewWork News Web Tip: How Much Information? (Wednesday, 8/21/02)
How much information is too much? Do you feel overloaded? Scholars at the University of California at Berkeley have been attempting to measure how much information is produced in the world each year. Incidentally, speaking of information, their report is about 200 pages long.

Investors may have abandoned their gloom (Tuesday, 8/20/02)
Some good economic news seems to have fueled two weeks of gains on the major indexes.

Leading indicators down (Tuesday, 8/20/02)
The Conference Board's Index of Leading Economic Indicators fell 0.4 percent in July. The Index is known for doing a fairly good job of predicting overall economic activity several months ahead.

Bad timing? (Tuesday, 8/20/02)
Rather than more guards at nuclear plants in the U.S., there are 40 percent fewer, according to Representative Ed Markey of Massachusetts.

Say good-bye to Marxist notions of equality (Tuesday, 8/20/02)
Philip Pan writes from Yushui, China about the inconsistent ways in which the official "one-child" policy is enforced in the world's largest nation.

In fact, it's not the only thing about current Chinese governmental policy that is inconsistent. Part of Chinese society is surging ahead toward the development of one of the world's most advanced, most affluent countries, while the majority of the Chinese population, particularly outside the major cities, remains mired in poverty with things getting worse rather than better.

Overall, the Chinese population is huge--about 1.4 billion--but fewer than 300 million seem to be part of the latest Chinese economic revolution, a number roughly equivalent to the total population of the United States. It is likely that the other hundreds of millions of people who lack skills or means for coping with the changes are seen as a impediment to the Chinese government's development plans, not a help, and there is growing evidence that Party leaders favor abandoning the masses as a cost of progress. If a lot of them die, or if their families die out, so much the better.

So, one child per poor family, or maybe no children at all, would be fine, while more than one child per affluent, educated family would also be fine. At least, we suspect that this is what government leaders are thinking.

Skills shortage hasn't gone away (Tuesday, 8/20/02)
There is a slump in tech hiring at the moment, but a new report from the National Policy Association asserts that there is still a fundamental skills shortage that will show itself all over again once the U.S. economy picks up.

Off target on hunger reduction (Tuesday, 8/20/02)
Global leaders have set the goal of cutting world hunger in half by 2015, but a new United Nations report says that target will be missed by many years, given present rates.

Southwest's pilots agree to an extension (Tuesday, 8/20/02)
Pilots at Southwest Airlines have responded in opposition to their union leadership's recommendations and approved a contract extension by a wide margin. The current agreement will remain in effect for two more years.

Kmart cuts 700 management jobs (Tuesday, 8/20/02)
The latest 700 job cuts are concentrated in the company's headquarters and focus on white-collar managers and staff people.

The lower cost of prevention (Tuesday, 8/20/02)
Ceci Connolly tells how some North Carolina companies are improving worker health and reducing costs all at the same time.

No solution in sight for Philadelphia's Convention Center woes (Tuesday, 8/20/02)
The Teamsters say they aren't in favor of combining three unions into one either. Labor squabbles have been making it harder for the big Convention Center to attract business, according to some observers on the scene.

Preparing for the new bilingual work world (Tuesday, 8/20/02)
The Washington Post's Mary Beth Sheridan tells about the increasing importance of the Spanish language in the U.S. work world.

Marriage prep (Tuesday, 8/20/02)
Pamela Yip says it's a good idea to settle some important financial issues before saying "I do," because left until later, they're capable of wrecking a marriage.

Today's NewWork News Web Tip: Business Link (Tuesday, 8/20/02)
Business Link offers help in starting or running a business and comes from the Small Business Service, a government agency in the United Kingdom.

Strike at Qantas (Monday, 8/19/02)
Six-thousand employees of Australia's big airline have gone on strike, and flights have been canceled as a consequence.

A double-dip may have become more likely (Monday, 8/19/02)
Some experts are saying that July's numbers suggest that a second recession within a year has become more probable. Chances have increased by a fifth or more, they say.

What does the Fed know and when does it know it? (Monday, 8/19/02)
Daniel Altman says the Federal Reserve may know things about the American economy to which the rest of us either aren't privy or may not have noticed. When the Fed decides to change interest rates, it may be trying to tell us something.

A reason for thinking about deficits (Monday, 8/19/02)
Many Keynesian economists aren't particularly worried about deficit spending during a time of sluggish economic growth with another recession threatening. Moreover, there wouldn't be anything particularly good about a surplus at this particular time. When stimulus is needed, the government shouldn't be taking in more money than it's spending.

However, politically, it may be a different matter, and President Bush, who was less prepared for the presidency than his father, but who is a more savvy politician, understands how the Democrats may be able to link the deficit to other kinds of economic problems in the voters' minds during the next three months before the election. Make that LESS than three months, which is why you should prepare for a continuing blast of political rhetoric from all sides. There will be no escape, unless you want to spend the autumn--make that spring--in Antarctica. At any rate, both major parties are picking up approaching anger on their radar screens, and so is Scott Burns, who has been asking his readers.

Incidentally, in the metathasis department, a few years ago, it was the Democrats who weren't worrying much about deficits and the Republicans who were always talking about "getting our fiscal house in order." During the past couple of years, there seems to have been some sort of role reversal. It may be why Senator Fred Thompson, who will be seen in a major episodic television role beginning next month, has remarked that Washington has made him long for the sincerity and realism of Hollywood.

What will corporate profits look like once ALL costs of doing business are counted? (Monday, 8/19/02)
Recent corporate scandals have arisen because of accounting tricks that have inflated profits in order to inflate stock values. However, other things can inflate profits too. For instance, what if a manufacturing plant contaminates a community's water supply and leaves the cost of cleaning it up to the community? Or, on a far larger scale, what about the costs of doing whatever may be possible to cope with global warming that may be a result of corporate activity? Amy Cortese has been examining some of the larger issues which may be on our front pages a bit later.

The benefits of being called a "manager" (Monday, 8/19/02)
Title inflation can help employers save money on overtime, at least until the Labor Department comes to call. Sherwood Ross writes from Charlottsville, Virginia, the home of Mr. Jefferson's great university, about who is and who is not exempt from overtime pay. For instance, if you're a "manager" who really doesn't manage anything, you may have some back pay coming.

Workers concerned about UN summit (Monday, 8/19/02)
South African police are threatening to cut into one of Johannesburg's businesses while more than 40,000 summit delegates are in town. If business would thrive without police interference in one of the world centers of AIDS, one would have to wonder about whether the world is in good hands. The search for intelligent life on earth should continue.

What to do when your employer is in deep horseradish (Monday, 8/19/02)
Whether you should remain aboard or start swimming for shore depends on what you want to get out of a job, according to Mary Ellen Slayter.

Little things mean a lot (Monday, 8/19/02)
Barnaby Feder reports on the growing argument over whether nonotechnology will fuel an even newer economy or simply wreck life on earth. Is it nano-Ludditism, or is it a matter of finally going too far and really getting Mother Nature's goat?

How to keep commitments (Monday, 8/19/02)
Albert Crenshaw explains why states are concerned about the viability of prepaid tuition plans, given what is happening to investment income and tuition outgo. Meanwhile, Michelle Singletary explains the tax benefits of 529 plans for covering college costs.

The return of paramilitary discipline (Monday, 8/19/02)
Guy Trebay writes about the return of the conventional business uniform which may communicate some of the right things during harder times. Among other things, those non-functional and not-even-particularly-ornamental pieces of cloth that millions of workers mindlessly tie around their necks, while snickering at the conformist fads of youth, are making a comeback. Where did it all start? Look to the court of Charles II in 17th-century England. Culture is simply culture because people are people, and most of what people do doesn't have to make any sense.

Oh, to have to try to look older again (Monday, 8/19/02)
Many of our readers probably aren't too young for much of anything anymore, with the possible exception of Medicare. There may have been a time when youth was a handicap, though, and, for many persons, it still is--or, at least, youthful appearance that doesn't line up with education, achievement, competencies, and readiness for work. Melinda Ligos tells what it's like to try to land the right job when you look younger and less experienced than you really are. We still live in a world where many people are still gullible and even bigoted about superficial physical appearances. Apparent age is one thing, race, ethnicity, and weight are others.

It may be hard to believe, but during the 19th century, many people actually thought that you can assess all of the important stuff about an individual's personality by measuring the size, location, and general configuration of the bumps on the individual's head.

Well, no, that's probably not hard to believe. Things haven't changed much. For example, millions of people still take astrology seriously, even though it was dreamed up in ancient Babylon about 24 centuries before anybody knew anything whatever about the solar system. Another example is the so-called "lie detector," which, despite no supporting evidence and the great ease with which it can be, has been discredited over and over, is still administered to several million people each year by legal authorities and others whom, rumor has it, have attended school to some extent.

Today's NewWork News Web Tip: Walter P. Reuther Library (Monday, 8/19/02)
The Walter P. Reuther Library is located at Wayne State University in Detroit and is named after the famed president of the United Auto Workers.

Demonstrators demand reparations (Sunday, 8/18/02)
Feeling that people deserve to be paid for their work, and, if not paid, that something is owed to their descendants who otherwise would have inherited their ancestors' accumulated assets like most other people, demonstrators from throughout the United States marched in Washington, D. C. yesterday to demand slavery reparations.

Creative accounting in India (Sunday, 8/18/02)
Bulletin: The United States is not the exclusive world center of cooked books. Indrjit Basu writes from Calcutta about some Indian companies with accounting "irregularities," to put it euphemistically. Back in the U.S.A., eleven companies say they are unable to guarantee the accuracy of their financial reports, and you may not be surprised at some of their identities. Also, Qwest Communications International missed the deadline and they say they have their reasons.

Congressman says Medicare needs to be fixed (Sunday, 8/18/02)
Democratic Representative Leonard Boswell of Iowa says Medicare reimbursement no longer makes any sense, and the system is failing the nation's elderly. He spoke on the Democrats' weekly radio address.

Columbia University economist says that widening of rich-poor gap ain't necessarily so (Sunday, 8/18/02)
Economics Professor Xavier Sala-i-Martin says that widely-quoted consequences of globalization are based on faulty numbers. Instead, a new global middle class is emerging. Here's more from Virginia Postrel of the New York Times.

Divided attention (Sunday, 8/18/02)
Columnist Amy Joyce tell how many people are trying to keep one eye on their jobs and the other on the job market, thinking that layoff may well be in their futures. T. K. Maloy agrees that it is a summer of discontent among workers, as well as people who would like to be workers if they could be. Still others, as Karen Alexander reports, are even finding opportunities to move up while others are having to move out. Some, instead of persisting in the unrewarding business of job hunting, are joining the Peace Corps instead. It seems to be a "churning" job situation, with a little bit of nearly everything happening somewhere all at once.

Today's NewWork News Web Tip: The Economics of Korean Unification (Sunday, 8/18/02)
What would be the economic implications of bringing together one of the most prosperous and successful societies with one of the economically most catastrophic into a single country? The contrast on the Korean peninsula could hardly be greater, but eventual unification seems to be a goal. Marcus Noland, Sherman Robinson, and Li-Gang Liu examine the Economics of Korean Unification in their paper for the Institute for International Economics.

Russia makes a deal with Iraq (Saturday, 8/17/02)
Russia and Iraq are prepared to sign a five-year, $40 billion agreement which is expected to make it more difficult for the Bush administration to build international support for a military effort to displace the Saddam regime.

A secret plan? (Saturday, 8/17/02)
President Bush says he has some new ideas for stimulating the American economy, but he isn't offering many details. Among the additional ideas may be tax breaks for investors as incentives for getting back in the market.

Many Americans may be prepared to pass on the American pastime (Saturday, 8/17/02)
In the contest between the rich and the richer, the union representing major league baseball players has set August 30 as a strike date, meaning that the game could shut down again just before the World Series. Here's more from Steve James in New York.

CPI up 0.1 percent in July (Saturday, 8/17/02)
The U.S. Department of Labor's principal measure of inflation, the Consumer Price Index, increased 0.1 percent for the second month in a row. The CPI is a weighted average, of course, and doesn't mean that all prices have been increasing. In fact, some things have decreased in cost enough to make some economists concerned about possible deflation.

INS chief to leave (Saturday, 8/17/02)
James Ziglar, head of the embattled Immigration and Naturalization Service intends to leave office by the end of the year.

Yokich is dead at 66 (Saturday, 8/17/02)
Steven Yokich, former head of the United Auto Workers, has died at age 66.

Alternative ways of measuring profits (Saturday, 8/17/02)
Mike Meyers of the Minneapolis Star Tribune says that corporate accounting's slight of hand tricks during the 1990s may have impressed some investors, driving stock prices into the stratosphere for a while, but economists who know what to look for were neither impressed nor amused. Similarly, with their more realistic measures, things don't look so bad now either. For the most part, current stock prices fairly represent value, they say.

Helping fed workers get out alive (Saturday, 8/17/02)
The Administration has approved a plan by which 2 million federal workers could be evacuated within minutes in case of an attack with weapons of mass destruction.

Today's NewWork News Web Tip: National Center for Charitable Statistics (Saturday, 8/17/02)
The National Center for Charitable Statistics is the national repository of data on America's nonprofit sector. It is a creation of the Urban Institute Center on Nonprofits and Philanthropy.

This may be a lesson in environmental economics (Friday, 8/16/02)
As a wise Nobel Prize-winning chemist has pointed out, despite frequent claims, there is no essential conflict between environmental and economic priorities, because the economy is a "wholly-owned subsidiary" of the environment. Wreck the environment, and you will have wrecked the economy as well. The flooding in central Europe may be an instructive case study. Suzanne Kapner writes about the grim economic consequences.

Good news from Mexico (Friday, 8/16/02)
After a recession last year, Mexico's economy is growing again. Growth during the second quarter was an annualized 2.1 percent.

Some Enron workers win one in court (Friday, 8/16/02)
Workers who were paid bonuses to stick with Enron won't lose their money to creditors. Here's more from Eric Berger on a U.S. bankruptcy judge's ruling.

Tech hiring runs slower than expected (Friday, 8/16/02)
Experts expected that technology companies would be hiring more by now, but that's not happening, and it's exacerbating an overall growth problem in the American economy. Meanwhile, the Immigration and Naturalization Service reports that there has been a major drop in the number of H1-B visas, often referred to as "tech visas," because they enable foreign technology experts to come to the United States for employment with American high-technology companies. Other evidence of insufficient economic momentum comes from the Labor Department's report that the number of people applying for first-time jobless benefits increased last week, as well as from the Federal Reserve that factory production slowed in July compared to the previous month. On the other hand, there is a boom in mortgage refinancing which is expected to be fueled further by a new record mortgage rate low. Mortgage refinancing doesn't have the economic stimulative effect of new mortgages, though.

Don't think of it as a problem; think of it as an opportunity (Friday, 8/16/02)
But, what if it's your problem and somebody else's opportunity? Columnist L. M. Sixel reports that a major Houston law firm sees interesting possibilities for itself when family members begin asking questions about so-called "dead peasant" insurance policies.

The new Director General's Challenge (Friday, 8/16/02)
Thai economist Supachai Panitchpakdi will become the World Trade Organization's new director general next month, and, according to Elizabeth Olson in Geneva, he will have his work cut out for him.

A mediator will be called in to help out at Boeing (Friday, 8/16/02)
Boeing and the Machinists union have agreed to ask a mediator for help with their negotiations as the current contract nears its end.

What the President had to concede in order to get back on the "fast track" (Friday, 8/16/02)
David Francis reports that President Bush agreed to a major expansion of "trade adjustment assistance" in order to gain renewal of the so-called "fast track" negotiating authority. For one thing, workers who lose their jobs because of trade deals will get government help in maintaining their health insurance, which some Democrats regard as an historic precedent.

Today's NewWork News Web Tip: Whyville (Friday, 8/16/02)
During the 21st century, girls who automatically rule out all scientific or technical career possibilities simply because they're female will be limiting their futures unnecessarily and making it more likely that they will join previous generations of women in dead-end, low-pay occupations. Young Americans in general are displaying relatively little interest in math and science, in part, perhaps, because of a misunderstanding of what science really is. Girls in particular seem to go out of their way in order to avoid any exposure to science. However, that might be largely because of the way it has been presented. Now, there may be a glimmer of hope. Whyville is a web site that has become very popular with girls, and a woman astronomer at the California Institute of Technology explains some of the possible reasons in the Christian Science Monitor.

A big retailer gives up (Thursday, 8/15/02)
Ames has been operating 327 stores, but they're going to shut them all down, and it will cost 22,000 people their jobs. A year ago, they tried surviving by going into bankruptcy, but that hasn't worked well enough to help them get back on their feet while all the time being run over by the Wal-Mart and Target steamrollers.

Bankrpuptcy may be in its immediate future (Thursday, 8/15/02)
United Airlines executives have told the Securities and Exchange Commission that it may follow US Airways into bankruptcy as early as November if if they aren't able to obtain major concessions from the company's workers and creditors. Laurie Kellman says that the Administrative Office of the U.S. Courts reports that both personal and business bankruptcies are running at record highs, and we ain't seen the end of it no how, no way. Incidentally, how is your own debt load?

The airline sector and Boeing's future (Thursday, 8/15/02)
With many airlines parking some of their big planes, they're not likely to be shopping for additional new ones for a while. Helen Jung tells what that's likely to mean for Boeing and what the big aerospace manufacturer is trying to do about it.

Who else is chasing renegade CEOs? (Thursday, 8/15/02)
Some top corporate executives have reason to fear the government, but many of them are going to be chased by their own shareholders now too. Here are some details from Shannon Buggs in Houston, home of infamous Enron.

Jobless claims a bit more numerous last week (Thursday, 8/15/02)
First-time jobless claims went up a little last week--an increase of 6,000 to a total of 388,000, according to the latest data from the United States Department of Labor. It seems clear now that the American economy really was in recession last year, but can we expect a "double dip?" If a new slump is occurring, it's not all that obvious in the places where you would expect to see it, according to Laurent Belsie of the Christian Science Monitor

Contrary to common assumptions, AeA report says executives don't get most of the options (Thursday, 8/15/02)
Two-thirds of the stock options in the hi-tech industry go to rank-and-file workers, according to a survey from the American Electronics Association. Here's more from Lisa Baertein in San Francisco. In other tech sector news, Singapore-based Flextronics International says job cuts will total 5,261.

South Korea's could become world's fourth-largest economy, its prez sez (Thursday, 8/15/02)
Is it possible that South Korea, with a bit more than half the land area of North Dakota, could become the fourth-largest economy in the world behind the U.S., Japan, and Germany? President Kim Dae-jung believes it to be true, and offers his country's unexpectedly strong showing in the recent World Cup as evidence of what a small country, devastated by war less than a half-century ago, can do on the world stage. As recently as thirty years ago, South Korea was still a third-world country by most conventional measures. Now, it's already one of the world's leading advanced industrial societies.

The carpenters want to help Philly's Convention Center (Thursday, 8/15/02)
Labor-management fights have been costing the big Convention Center business in the, well, City of Brotherly Love. Now, the carpenters union wants to try to help by hiring a PR firm. Actually, they may be intending to help themselves a bit too.

We have met the boss and he is us (Thursday, 8/15/02)
There are more and more employee-owned businesses. Here's how things are going for some of them.

Today's NewWork News Web Tip: SmallBusiness.com (Thursday, 8/15/02)
SmallBusiness.com applies knowledge management systems developed for large business to the needs of those operating or working in service of small business. It is a "knowledge sharing community."

Big cuts at IBM (Wednesday, 8/14/02)
International Business Machines Corporation will cut more than 15,000 jobs.

Firm forum conclusions (Wednesday, 8/14/02)
Participants in President Bush's economic forum at Baylor University yesterday spent much of the time expressing their anxieties, and the President summed things up by saying that "times are kind of tough." If the purpose of the forum was to reassure Americans so that they will step up confident economic activity, it may not have been greatly successful. Also, if its purpose was for the President to gather advice and ideas on what to do, it may not have been all that successful either. For instance, the New York Times reports that only three economists were invited to participate, which may seem a little like calling some people together for advice on what to do about your health, but not including very many physicians. At any rate, here's what some of the economists who were not part of the forum are saying.

Meanwhile, apparently feeling that forum participants offered support for his own ideas--probably not hard to achieve, given that he selected the participants--President Bush is out trying to spread the word around the Midwest today. Here's more on that from Steve Holland.

Consumers less willing to buy, despite falling prices (Wednesday, 8/14/02)
Consumer spending makes up about two-thirds of the U.S. economy, so the willingness of consumers to spend is very important, and their willingness is influenced in large part by their sense of job security and overall confidence in the economy. Unfortunately, a new poll finds that confidence has been slipping. Meanwhile, the Wall Street Journal reports that retail prices have been declining for reasons that have sparked general concern about the threat of deflation. Economists, including Fed Chairman Alan Greenspan, have spent more time worrying about inflation in recent years, but deflation can be equally destructive.

Time to sign on the dotted line (Wednesday, 8/14/02)
Today's the day that top corporate executives have to certify the accuracy of their financial statements on penalty of perjury. The penalties for filing false statements have been strengthened and clarified, but what are the penalties for not filing at all? Nobody seems to know, but it could be that some executives might face less legal exposure by not complying.

Why the U.S. airline industry has lost altitude (Wednesday, 8/14/02)
The nation's airlines seem to have entered a new chapter in their history--Chapter 11. Brad Foss says that one of the reasons for so much industry trouble has been the cutback on business travel. However, Alexandra Marks of the Christian Science Monitor says Americans are vacationing closer to home this year too.

The new welfare system (Wednesday, 8/14/02)
While emphasis has been on welfare-to-work issues during recent years, a major demographic shift has occurred. In an increasing number of households, the recipients of welfare benefits are only the children.

New UN report in time for this month's earth summit (Wednesday, 8/14/02)
A new report from the United Nations paints a fairly grim picture of a gasping planet with widespread poverty including food and water shortages.

Insider stuff on another planet (Wednesday, 8/14/02)
Hollywood often seems like a different planet. To emphasize the point, there's a company called Planet Hollywood, and, for the second time in two years, it has been trying to emerge from bankruptcy. Mike Schneider reports on a complex of insider arrangements that have benefited the company's executives as well as affiliated celebrities. For instance, it appears that millions of dollars of loans to celebrities were "forgiven," meaning that they were essentially gifts that were called loans.

A gender distinction among physicians (Wednesday, 8/14/02)
In what may reflect a general difference distinguishing how men and women conduct their relationships, a new study finds that female physicians spend more time with their patients. Does it mean that woman doctors are more people-oriented, while male doctors are more data-oriented, and is it a difference that makes a difference in how well people respond to medical treatment, as opposed to how they feel about it and their doctors?

Today's NewWork News Web Tip: FirmBuilder (Wednesday, 8/14/02)
FirmBuilder provides tools and information for businesses that want to engage in outsourcing.

The Fed holds steady (Tuesday, 8/13/02)
The Federal Reserve has decided to leave interest rates where they have been for a while--the lowest level in 40 years--and not lower them further. However, the American economy is showing weakness that could mean a further rate reduction later. A survey of economists yesterday indicates that there is general professional agreement that the Fed is doing the right thing at this particular time. Peronet Despeignes of the Financial Times reports from Washington that all eyes have been on the Fed for days, and that it really was a close call, given a faltering economy and clear dangers.

More turbulence in the skies (Tuesday, 8/13/02)
The world's largest commercial airline company is cutting 7,000 jobs and restructuring, in response to competitive pressures and other disruptive air pockets. The bankruptcy of US Airways has created a good deal of turbulence by itself. Dave Carpenter reports that analysts are watching United Airlines, wondering if it might be next. Alexandra Marks says that U.S. airline companies may be facing their worst financial challenge in their history, but Liz Fedor says that most are likely to make it through the crisis period.

Incidentally, a bankruptcy judge has approved a $500 million financial plan that should keep US Airways in the air, and union members are hopeful that their jobs will be preserved.

At least it's likely to produce a verifiable Cheney sighting (Tuesday, 8/13/02)
President Bush has tried to strengthen the American economy's fundamentals by saying that he believes they're already strong, which is the kind of thing that major politicians do. In fact, in addition to the President, Treasury Secretary O'Neill has repeatedly said that he thinks the U.S. economy is fundamentally strong, hoping that saying it will make it so, and he's saying it again.

Top government officials usually can't spontaneously speak their minds in public because it's not possible for them to describe complex public events without influencing them, at least accidentally and in ways they don't intend. It's why Alan Greenspan, a master of the English language whose ability to express himself clearly when he wants is unsurpassed, is so often so deliberately indecipherable, leaving most listeners scratching their heads and muttering "What did he say?"

It's very easy to cause a rout. It's not so easy to make good things happen, though, even for a President. Any President of the United States can schedule a state dinner on command, but may not be able to get more than two members of a cranky, unconvinced public to do much of anything when he wants to.

President Bush would like to encourage a climate of confidence that will make Americans want to buy stock, make lots of big-ticket purchases, make capital investments, start businesses, hire new employees, and like that. Appearing on television and telling Americans that things were getting better when the crawl on the screen right under his face was showing declining stock indexes didn't work very well. So, what now?

How about bringing people from all walks of life, including some token non-CEOs, to Texas to put on a collective show of confidence. At a time, 25 years after his death, when Elvis may be sighted more frequently than the Vice President of the United States, it may be most comforting that Mr. Cheney is appearing at the Bush ranch with the others, providing tangible evidence of his continuing existence.

This time, there may not be a stock ticker crawl under the President's face on television, but, as Judy Keen of USA Today reports, economic news may still shove the President's economic forum toward the margins of the front pages.

There must be a special name for this. Maybe we should ask some of Enron's former rank and file what it is (Tuesday, 8/13/02)
Five former Enron executives have put the big severance agreement in jeopardy by seeking additional millions for themselves. Eric Berger has details from Houston, the home of what has become one of the more infamous companies in the United States.

No strike date yet (Tuesday, 8/13/02)
The union representing major league baseball players has decided to wait awhile before setting a strike date. Here's more from Murray Chass of the New York Times.

Charles Schwab to cut hundreds more jobs (Tuesday, 8/13/02)
It continues to be a rough time for people who work in the securities sector. During the Internet boom, Charles Schwab expanded quickly in response to the growth of online trading...for awhile. All that has been going the other way, though, so Schwab is trying to shrink itself in order to cut costs in big ways. Even though it's done this sort of thing before, hundreds of additional jobs will be eliminated.

America's contributions to mining safety (Tuesday, 8/13/02)
Bill Bergstrom reports on why there is such a difference in the incidence of coal miner fatalities in the U.S. vs. China.

An opportunity for women? (Tuesday, 8/13/02)
Corporate boards have been top-heavy with men through most of the history of American capitalism. Now, not only because of questions about perks, but also because of increased legal liability, fewer men are seeking board memberships. Mary Williams Walsh tells about a for-women-only training program at Northwestern University for would-be board members.

Today's NewWork News Web Tip: Encyclopedia of Finance (Tuesday, 8/13/02)
The Encyclopedia of Finance defines terms and asks basic questions having to do with stocks, security analysis, debt securities, retirement planning, and more, and comes from Ameritrade.

Bankruptcy at US Air (Monday, 8/12/02)
US Airways has filed for Chapter 11 bankruptcy protection. Normal flight operations will continue as the company reorganizes with the hope of emerging from bankruptcy next year.

Time to place your bets on Fed action tomorrow (Monday, 8/12/02)
Will the Federal Reserve leave interest rates where they are, or will it lower them further? Odds are in favor of the former, according to experts, but, then again...

Pensions come up short in Britain (Monday, 8/12/02)
A new survey in the UK concludes that British companies are facing a far larger pension shortfall than expected--as much as 70 billion pounds.

Social Security reform options narrow (Monday, 8/12/02)
Two major names in American politics, one Democrat, the other Republican, Bob Kerrey and Warren Rudman, respectively, tells why it's time to get serious about Social Security, and why the hard choices can't be avoided.

Shifting costs and risks (Monday, 8/12/02)
A key feature of the new economy is that workers are having to share more in the costs and risks of doing business. Fay Hansen tells how this applies in the increasingly expensive world of healthcare.

What isn't a recession but feels like one? (Monday, 8/12/02)
A weak recovery can feel like contraction to many people, particularly after so many people adjusted their expectations and patterns of life to the boom period a few years ago. Here's more from David Leonhardt and Sherri Day.

If nothing ventured nothing gained, then nothing gained (Monday, 8/12/02)
A few years ago, nearly any hair-brained business idea with dot-com attached to its name could attract the attention of venture capitalists. What a difference a few years can make. Susan Feyder reports on how difficult it is right now for even solid companies with solid product ideas to obtain funding.

The latest hazard in the work environment (Monday, 8/12/02)
Mold has been in the news a lot lately, including stories about celebrities and their houses. But, USA Today's Stephanie Armour it's also becoming a major problem in the work world.

How to say "yes" to less and be heard (Monday, 8/12/02)
The demand for labor has softened a bit, which means that beginning salaries have moderated, and that can be a problem for people whose previous jobs paid more than the ones for which they are applying. Even if it's not a problem for the applicant, it can be a problem for the prospective employer. Margaret Steen discusses the possibilities for overcoming what can turn into a major obstacle.

Changed tax policy encourages college savings plans (Monday, 8/12/02)
Karen Arenson reports that the creation of new college savings plans has surged in response to federal tax breaks.

Nursing home that claimed union voodoo tactics is charged with abuse (Monday, 8/12/02)
The Naples Daily News reports that the NLRB is accusing Mount Sinai-St. Francis Nursing & Rehabilitation Center in Miami of abusing its workers. Earlier, the nursing home had accused union organizers of trying to scare Hatian-American workers into joining through the use of voodoo tactics.

Today's NewWork News Web Tip: Statistical Abstract of the United States (Monday, 8/12/02)
The U.S. Bureau of the Census calls it "Uncle Sam's reference shelf." It's the Statistical Abstract of the United States, emphasizing social and economic conditions in the United States, but it also includes other data, domestic and international.

Bush prepares for economic forum (Sunday, 8/11/02)
While Democratic critics see President Bush's upcoming economic forum as involving too many top executives who may be persuaded to provide financial support to Republican candidates, the President defends it as an opportunity for him to hear a wide range of opinion from Americans from many walks of life, given the challenges now faced by the American economy. This seems to mark a change of direction on the part of the President who, until now, has been emphasizing the soundness of the economy's fundamentals. There are indications that both Republican and Democratic strategists seem to agree that the President and perhaps Republican candidates in the November election are vulnerable on domestic issues, particularly the economy.

Grim business (Sunday, 8/11/02)
Rene Sanchez reports from Calexico, California that the business of smuggling migrants in to the United States has gotten rougher and more deadly.

Wage stagnation (Sunday, 8/11/02)
Louis Uchitelle of the New York Times explains why stagnant wages following the end of the recession may mean trouble.

Turkey's economic minister resigns (Sunday, 8/11/02)
Kemal Dervis, who was once a World Bank official, has left his economic post in order to play a key political role in opposing an Islamic party in the country's upcoming national election.

The increasing healthcare bind (Sunday, 8/11/02)
Robin Toner and Sheryl Gay Stolberg examine the American healthcare system a decade after the crisis of the early '90s. Costs are rising rapidly again , and that's not all that's putting employers and other American in a tighter crunch.

Unintended consequences (Sunday, 8/11/02)
A news study from the Institute for Higher Education Policy suggests that college aid may not be having its intended effect. Here's more from Albert Crenshaw of the Washington Post.

Okay, so what's the UPSIDE on stock options? (Sunday, 8/11/02)
Maybe there isn't any. The original rationale was that it's good for everybody if top corporate management's rewards are tied to company performance, and stock options were intended to bring company and executive interests into alignment. David Leonardt says that a new study brings that assumption into question.

Today's NewWork News Web Tip: Eliminating World Poverty (Sunday, 8/11/02)
Eliminating World Poverty: Making Globalisation Work for the Poor is a White Paper on International Development published by British Prime Minister Tony Blair and the British Secretary of State.

Productivity in perspective (Saturday, 8/10/02)
Productivity increased at a considerably lowered rate during the second quarter, but, as John Berry reports, the overall productivity picture still looks pretty good. The New York Times' Louis Uchitelle says it has to do with the way employers are handling layoffs. Mike Meyers of the Minneapolis Star Tribune also reports on what some companies are doing to achieve increased levels of productivity. Finally, Terry Lee Goodrich tells how some employers are offering more time off as a work perk for employees who can do more and better in less time.

Flight attendants accept new deal with hope of preserving their jobs (Saturday, 8/10/02)
Flight attendants at US Airways have agreed to help the company stay in the air by accepting wage and benefit sacrifices in exchange for job security.

Keeping pension promises (Saturday, 8/10/02)
Floyd Norris tells how a weak stock market and low interest rates are conspiring to produce special problems for corporations that have made generous pension promises. It cites General Motors as an example, but it's not alone.

Ah, wanted: a union member PR consultant (Saturday, 8/10/02)
Reporters like ironies, particularly now that much of political humor relies on them. A sure way to get featured in newspapers all across the country is to hire nonunion labor if you're a labor union. That's what the Teamsters in Houston have done, according to columnist L.M. Sixel. Nonunion construction workers cost less, they found.

Some of Stafford's recent columns (Saturday, 8/10/02)
Here's what noted Kansas City Star columnist Diane Stafford has been saying lately about 401(k)s, in spite of everything, the importance of dressing in accord with standard business expectations, the NON-recession-proof nature of the temp staffing industry, and why a climate that encourages the sharing of ideas is so important on the job.

Today's NewWork News Web Tip: Accounting Terminology Guide (Saturday, 8/10/02)
It may be difficult to tell what accountants have been doing lately, but, at least, it might be helpful to know what they're saying. Here's an Accounting Terminology Guide from the New York State Society of CPAs.

What? Is North Korea actually trying something new that actually can make sense? (Friday, 8/9/02)
It may really be that the often-irrational government of North Korea has been paying some attention to what China's leaders in a city not far away have been doing in recent years. Economic liberalization may be underway in the last Stalinist society on earth, and that's man-bites-dog news.

FTC looks at healthcare (Friday, 8/9/02)
The Federal Trade Commission is conducting investigations to convince itself that hospital and other mergers in the health care industry during recent years were not carried out with the intention of fixing prices.

A bill comes due in the Governor's office (Friday, 8/9/02)
California Governor Gray Davis is seeking re-election, and either signing or not signing a bill that would give the United Farm Workers the binding arbitration they want likely will cause him problems with voters.

Productivity slumps (Friday, 8/9/02)
Second-quarter worker productivity grew at an annualized rate of 1.1 percent, the lowest rate in a year.

Maybe lower, maybe not (Friday, 8/9/02)
Rumors that the Fed is about to lower interest rates again are just that...rumors, according to John Berry, and believing them would be premature at the very least. Don't count on another cut next week, given Alan Greenspan's expectations for this year's second half, he says. New economic reports yesterday might help make Mr. Berry even more confident.

Post-mortem on the Brazil bailout (Friday, 8/9/02)
One can only choose from options available at the time. Even those who most fear and hate war sometimes feel that going to war is the best course of action available. Those who most fear and hate surgery may decide that it's better than the consequences of avoiding it. Similarly, even those most opposed to big international bailouts can favor them in individual cases if the alternatives look sufficiently unattractive. Paul Blustein explains why so many people who don't like bailouts, in principle, were behind the big IMF loans for Brazil.

Democrats try to make campaign issue of corporate scandals...carefully (Friday, 8/9/02)
The Democrats want desperately to hang on to control of the U.S. Senate, and, almost as desperately, would like to pick up the few seats that would give them control of the House this time too. Party strategists are trying to find effective ways to pin the corporate scandals on Republicans with the hope that voters will also hold them against Republican candidates in key races. However, it is an effort fraught with peril, because both parties have been highly dependent on business benefactors. As someone has asked, rhetorically, does anyone really doubt that an executive who made $150 million last year might be able to influence a politician who earned about $150 thousand? Will Lester has more from Washington.

Social Security numbers cleanup is costing jobs (Friday, 8/9/02)
The Social Security Administration has been matching names with Social Security numbers and finding quite a number of mismatches. Laura Parker reports that tens of thousands of illegal immigrants are losing their jobs as a result.

Is a recession a good time to start a new business? (Friday, 8/9/02)
Some people think so, and they have their reasons. Here's more from the Arizona Republic. Speaking of entrepreneurs, here's the man who has built one of the largest and most successful black-owned businesses in the United States, but it was some of his staff members who put him in the spotlight.

What happens when you have the lowest mortgage rates in nearly a third of a century? (Friday, 8/9/02)
You can guess. Here's more from the Washington Post.

It's getting harder to pay for higher education (Friday, 8/9/02)
David Caruso reports that college savings have been badly bruised by recent events in the stock market, at the same time that state budgetary problems are driving increases in public university tuition as well as diminished educational options and possibly diminished quality of instruction.

USA Today reports that some people don't seem to need to go to high school at all. During an era when more people have more access to more information from more sources than at any other time in human history, more people may also decide they don't have to attend college either and it may not make their education suffer. For people who can become knowledgeable and competent by other means, all that is needed is more societal emphasis on genuine knowledge or performance and less on so-called "credentials." In a system less concerned with "name" schools or symbols, whether one gains knowledge in conventional classes or by other means, it's all the same. One DOES have to obtain the knowledge somehow, though. The only alternative to genuine knowledge is ignorance, and it has had a perfectly wretched record over many centuries.

The transferability of legal training (Friday, 8/9/02)
What can a lawyer do who doesn't want to be a lawyer? Lots of things, apparently. Legal training seems to be helpful preparation for a variety of roles. Ask the lawyer who will head the troubled New York City school system, or ask Mayor Bloomberg.

Today's NewWork News Web Tip: The Post 200 (Friday