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More evidence of a weakened labor market, despite third-quarter growth (Thursday, 10/31/02)
America's gross domestic product grew at an annualized rate of 3.1 percent during the third quarter, which was more than many people had expected. However, first-time jobless claims increased more than expected last week too. Meanwhile, another of Asia's economic "miracles" has been looking a bit less miraculous lately. The International Herald Tribune reports that Singapore's unemployment rate has reached its highest level since the mid-1980s.

Japan still not bold enough, many feel (Thursday, 10/31/02)
The Japanese government's latest plan for pulling that nation's economy out of a decade-long slump seems to be a compromise between doing nothing and doing what's really needed for genuine success. Yuri Kageyama in Tokyo reports that investors and experts seem unimpressed.

The U.S., Japan, and Germany have the world's top three economies, in that order. The U.S. economy has been fumbling along, but most experts aren't ready to say that the condition is chronic like Japan's has been, although there is growing talk about whether the U.S. will become infected by the deflation that has been plaguing the other two. Here's why some people are wondering if Germany's economy is following in Japanese footsteps. The third-quarter loss suffered by Germany's largest bank adds to the banking sector's problems, suggesting to many that the similarities between Germany's problems and those of Japan are beginning to look uncanny. Of course, Germany's banks have different kinds of problems for different reasons.

Even though there's a good chance that China's economy will become Asia's largest sometime later in the century, the region is still quite dependent on Japan, just as Europe's economy depends on its dominant centerpiece, that of Germany. The entire world is influenced by how the American economy is doing, and if all three of the largest continue to struggle, the global economy can't do much better.

It could be enough to make you want to give up reading altogether (Thursday, 10/31/02)
Kansas City Star columnist Diane Stafford has been hearing from the people who read job candidate resumes. You certainly can't believe everything you read, they say, and sometimes you can't even understand it. Here's more about what your writing says about you and what you need to say in order to be taken seriously.

Maryland's CEO dorm (Thursday, 10/31/02)
Silicon Valley entrepreneur wannabes can get into the mood while studying at the University of Maryland by living in a dorm designed to make them feel as though they're already where they want to be. Here's more about the Hinman Campus Entrepreneurship Opportunities program which was funded by a former Maryland grad.

Today's NewWork News Web Tip: America's Richest Politicians (Thursday, 10/31/02)
If you want politicians in office who can't be bought, maybe you should vote for people who are rich already. Forbes, which, among other things, is well-known for its lists, offers a listing of America's Richest Politicians. Pop quiz--which current office holder has the greatest personal net worth? Hint: he financed is own campaign, which cost tens of millions of dollars. Well, actually, that's several hints.

Keeping both the country and its banks afloat (Wednesday, 10/30/02)
The once-mighty Japanese economy has been "taking on water" for a long time, dragged down, in part, by banks already partially submerged in debt. Many outside experts have been encouraging the Japanese government to take tough action, and some believe this may have to include taking over the banks.

Japanese Finance official Heizo Takenaka has offered a tough plan. However, according to Tokyo's Mainichi Daily News, it includes pills too bitter for many to swallow, so the Koizumi government has backed off from implementing it, thinking that it could finish off major banks. Here's more about that from the Financial Times.

Still, Prime Minister Koizumi, whose popularity has waned since coming into office with the charisma of a rock star, has been under increasing pressure to take effective action. Hans Greimel reports from Tokyo that a deal has been struck on a compromise plan that is intended to boost the Japanese economy out of its doldrums without killing off its banks and without the government's having to get too deeply into the banking business.

What's Japan's problem? In part, it arose because what happened to dot-com stocks in the United States a few years ago happened to Japanese real estate some years earlier. Prices inflated beyond all reason, then collapsed. However, it's one thing, say, to pay a dollar for a share of stock, see its on-paper value go to a thousand dollars, then plummet to fifty cents, all without your really doing anything. It's something else when the value of real property follows a similar course and people act on it.

Suppose you take out a mortgage for $100,000 on a house that is valued at $110,000. Then, the value of the house falls to $50,000. You now owe more than the house is worth, and suppose you can no longer make the payments. Ordinarily, the bank would simply foreclose on your mortgage and take your house. But, in this example, the present value of the house isn't sufficient to compensate the bank for the money it lent, so they're stuck too. Japanese banks are paralyzed by a tremendous number of very large bad loans following the bursting of the real estate bubble, and the situation is exacerbated by a general deflation throughout the Japanese economy.

As we reported yesterday, many economists don't expect deflation to become a problem in the United States, even though much of the world already is experiencing it. However, this is a matter of current controversy, and some believe the sharp drop in consumer confidence, and some of the reasons for it, shows that deflation already is underway in the world's largest economy. Philadelphia Inquirer columnist Andrew Cassel examines the issues and tells how deflation here would affect Americans. Among other things, it would put the vast multitude of Americans who are carrying record debt in an even greater bind, although it would help people such as retirees who are on fixed incomes.

How the other half lives (Wednesday, 10/30/02)
Some North Korean economic officials have been getting a tour of some facilities in South Korea. There is no word yet of whether there have been audible gasps.

Some years ago, Russian President Yeltsin underwent something of a trauma when he toured an ordinary American shopping mall and supermarket. Apparently, even he was not quite prepared for the abundance he saw and had not fully recognized the size of the gap between economic conditions in the U.S. and Russia at the time. Emotionally, he told American reporters about his frustrations trying to obtain medications for his mother. "Even a president cannot get them in Russia," he said. His generation had been brought up on Soviet propaganda intended to convince Russians that things were much better in the Soviet Union than in the United States. He knew better, of course, but while he assumed that Russia was "5 feet tall" and that the U.S. was about "10 feet tall" economically, it appeared that the American standard of living really was about a thousand feet tall.

Over the years since Yeltsin's epiphany in an American shopping center, the Russian economy has moved from its post-Soviet status as an international basket-case to something quite a lot better, and a Russian consumer class has been emerging. However, the gap between hundreds of millions of the world's poorest people and those in rich societies such as the U.S. seems to have widened.

Pressure to maintain the "men of steel" myth (Wednesday, 10/30/02)
Many of the most admirable people of the past thousand years were greatly flawed, and provided plenty for their enemies to pin on them, particularly if they were inclined to use double standards. Nonetheless, reality is reality. Even the world's religious traditions tend to recognize that, by definition, a "perfect human being," unlike a perfect robot or other machine, is one with weaknesses and imperfections (e.g., the concept of "original sin," etc.).

Despite having the necessary training, and so on, the people who sometimes have to engage in combat on behalf of the rest of us are made out of the same stuff as we are. Still, they may believe that more is expected of them, and they may also expect more of themselves, however unrealistically. Dave Moniz of the USA Today writes that the U.S. Army, or, at least, some professionals in the American military, may be ahead of individual soldiers and some of their officers on these issues. Too many soldiers hide their troubles because of career concerns, according to a new survey.

Here are soldier troubles of an entirely different kind: According to the United Nations, the principal problem for approximately 70,000 people engaged in combat in East Asia is that...they're CHILDREN, as young as seven. Here's more from Dan Eaton in Bangkok.

Today's NewWork News Web Tip: Executive Pay (Wednesday, 10/30/02)
Some American executives seem to be paid more than the GDP of many small countries, although we haven't checked. At any rate, here's the Washington Post's Top 100, showing total executive compensation in relation to salary.

Consumer confidence dips badly (Tuesday, 10/29/02)
Consumer confidence declined again during the month of October, reaching its lowest point in nine years. That, plus other indicators, such as very frumpy durable goods orders, have many worrying that the recovery, such as it is, may be in real jeopardy. Still, at least one Administration official is optimistic. Here's what a deputy assistant secretary in the Treasury Department has to say.

Deflation sweeps over much of the world, but seems unlikely to hit the U.S. (Tuesday, 10/29/02)
Throughout the 20th century, inflation has been a bigger problem in most economies than deflation, but the latter can be just as destructive. Prices have been falling in a number of countries lately. Will deflation slam the American economy as well? David Francis reports that many economists believe there's good reason to think there's only a meager probability of that happening.

You expect a BONUS? Hahahahahahahaha (Tuesday, 10/29/02)
Don't laugh. Despite everything, the Wall Street Journal reports that some American workers actually are going to get them this year.

Displacement, North Korean style (Tuesday, 10/29/02)
Well, it's been hard, you know. There have been floods and everything, and, besides, the Soviet Union chose a bad time to self-destruct, leaving old buddies such as Cuba and North Korea high and dry. Naomi Koppel reports on what might first appear to be a confession of neglect or incompetence or even a rare recognition of reality on the part of the folks in charge of North Korea's government.

Why pushing to get more out of fewer workers can be counterproductive (Tuesday, 10/29/02)
Stephanie Armour reports that people are taking more time off, including what are widely suspected to be "mental health days." Done this way, it's likely to cost employers more than if they simply gave people more time off in the first place. The stress of being a survivor during a time of layoffs may sometimes almost equal the stresses of those who lose their jobs, which are many, incidentally, and are producing a variety of severe symptoms. Morale also appears to be suffering a bit among people whose job it is to help others deal with their life and work stresses. Bill Brubaker reports on turbulent times for those working in mental health services within managed care organizations. Incidentally, Geir Moulson reports from Berlin on morale problems in German work organizations.

More meaningful internships for some (Tuesday, 10/29/02)
Some interns still are essentially "gofers," hoping to learn something by spending time in work settings to which they may aspire after graduation. However, some students are finding that their internships carry real responsibility. Here's more from Steve Dinnen of Christian Science Monitor.

If you feel like a "dummy" when it comes to money, here's the book for you (Tuesday, 10/29/02)
It seems counterintuitive to try to sell people something by insulting them. "Here's the car for complete morons; this is the perfect car for you!" However, "how-to" books have done quite well with this approach, starting some years ago by targeting people who felt mystified by computers and wanted to begin by being told how to turn the damn thing on. Over the years since, "...for dummies" books have come out in great profusion. Research has been showing that there may be few things that many Americans of all ages really understand less than finance, so author Eric Tyson may be riding a wave with his Personal Finance for Dummies, already in its third edition.

Pamela Yip writes than many people could use quite a lot of help with their retirement planning, while Barbara Hagenbaugh of USA Today tells how many people are using their homes as cash sources, which may be one more way to get into lots of long-term trouble.

Today's NewWork News Web Tip: How Do Cohabiting Couples With Children Spend Their Money? (Tuesday, 10/29/02)
University of Chicago researchers Thomas DeLeire and Ariel Kalil say that the literature on child development indicates that children tend do better either in married-parent or single-parent families than in cohabiting families. Here's their report on researching intending to address the question "How Do Cohabiting Couples With Children Spend Their Money?". The complete report is available via this site.

Brazil makes a sharp left turn (Monday, 10/28/02)
Andrew Selsky reports from Sao Paulo on the election of Luiz Inacio Lula da Silva, Brazil's first working-class president with a leftist agenda, while Mary Milliken provides some analysis.

More workplace violence (Monday, 10/28/02)
In this case, it's on a university campus where a student has killed three people in addition to himself.

It's beginning to look like a jobless recovery (Monday, 10/28/02)
The patient seems to be recovering, although the economic "M.D.'s" worry that there could be setbacks requiring additional intervention. John Berry reports that the Federal Reserve may be getting ready to cut interest rates again. Even with the fumbling, stumbling recovery that seems to be underway, job-creation continues to be unimpressive. South Korea's economy seems to be having similar problems, so far as jobs are concerned, and its overall difficulties seem to be at least partly a consequence of its close ties with the American economy.

Was the recent boom like other kinds of booms that tell us things are suddenly and violently coming apart? (Monday, 10/28/02)
The economic boom of the late 1990s seemed good at the time to those who seemed to be benefitting from it. When the market caps of some dot-com's that hadn't produced any profits at all were greater than companies like General Motors, some persons, at least, managed to convince themselves that things were just dandy and could only get better. Television's Louis Rukeyser remained unconvinced at the time and was singing things like "Dot-com all ye faithful." As it happened, he was one white-hair who turned out to be quite right. So much for all that old '60-era stuff about not trusting anyone over 30, or, well, sixty-five or so.

Also, of course, the recent corporate financial scandals has gotten some people to wondering just how much of the non-dot-comedy value was really, really, real during the boom.

There have been a lot of morbid post-mortems since the boom turned into some sort of semi-bust. There's certainly reason to believe that the big boom wasn't as good as many people believed then, but maybe it wasn't as bad as some people believe now either, as Michael Lewis argues in the New York Times.

Today's NewWork News Web Tip: The Heritage Foundation (Monday, 10/28/02)
The Heritage Foundation is a well-known Washington, D.C.-based "think-tank" that, among other things, conducts research on economic policy issues.

What to do when benefits run out (Sunday, 10/27/02)
Even though the overall unemployment rate is still fairly low by historical standards, many of those persons who have lost their jobs are finding that it's taking longer than expected to find new jobs in today's uncertain economy where hiring is not very vigorous. Yvette Armendariz writes about the growing number of people who not only have lost their jobs, but who are coming to the end of their jobless benefits as well. Now, what?. Speaking of layoffs, another 471 pilots will lose their jobs at US Airways by early summer.

Pacific Rim CEOs hear from China's boss (Sunday, 10/27/02)
Jiang Zemin will soon retire as head of the Chinese Communist Party, but, as is the Chinese way, he will move ever so slightly out of the spotlight, while still exercising considerable influence on governmental affairs in the world's most populous nation with the world's fastest growing economy. Jiang is capitalism's favorite communist, or maybe they simply haven't gotten around to changing the name of the ruling party yet. Nonetheless, Pacific Rim CEOs liked what they heard when he addressed them yesterday.

No strike at Air France (Sunday, 10/27/02)
A four-day strike scheduled for next weekend won't happen now that Air France and its pilots have made a deal.

Kraft sued for sexual harassment (Sunday, 10/27/02)
The EEOC has filed a class-action suit against the big food company, alleging sexual harassment. What makes it different from most is that it's a same-sex suit.

Are you ready for something else to blow up? (Sunday, 10/27/02)
The big bear market has corporate pension fund values circling the drain. What will that mean for earnings, and, then, stock values for the future, and, then... Well, you know. Pierre Belec is in New York and he's been thinking about some of the unpretty implications. Mark Lewis of Forbes says that hard times on the corporate front has complaints about too-generous executive pay are old news and outdated.

Workers are left more on their own in more ways (Sunday, 10/27/02)
In the "olden days," meaning up until a few years ago, many American workers enjoyed various protections, some provided by their unions, some by their employers.

For example, while organized labor has been making a comeback lately, of sorts, a far smaller proportion of workers in the private sector belong to labor unions than at mid-20th century.

There also used to be a good deal of job security, with many people working for the same company during their entire careers. Most of that has gone now that employers want the flexibility of a "just-in-time" workforce. People routinely lose their jobs now for reasons having nothing to do with their job performance, and even during times when the economy is expanding.

Most workers used to be covered by "fixed-benefit" pension programs administered by their companies, but, as Albert Crenshaw of the Washington Post reports, many are left on their own now to make choices and decisions for which few are prepared.

Finally, those fortunate enough to be covered by any sort of employer-sponsored health plan are finding that the worker share of the premiums is getting larger and larger.

A new kind of water-cooler talk (Sunday, 10/27/02)
Columnist Amy Joyce tells how having a sniper killing people in the community influenced workplace climate in the D. C. region.

But wait--isn't Washington, D. C. used to homicides? Well, yes, and there were lots of "ordinary ones" during the days when the sniper killings were going on. Still, most murders involve persons known to one another, so one can significantly diminish one's chances of becoming a victim by staying out of certain neighborhoods, by selecting one's friends carefully, and so on. The sniper killings made everybody a potential target, including the many famous people who routinely travel the region's streets and highways.

It's one of things that is different about modern life. You will remember that Barbara Olson was on the plane that terrorists slammed into the Pentagon on September 11, 2001. Not only was she the wife of Ted Olson, a long-time prominent D.C. lawyer and Solicitor General of the United States, she was also a leading author and familiar figure on national television talk shows. Terrorism, whether home-grown or international, can be extremely indiscriminate, providing "equal opportunity" for victimization.

Now there are "e-internships" (Sunday, 10/27/02)
USA Today reports that employers are saving money by offering "virtual internships" to students.

Today's NewWork News Web Tip: Occupational Safety and Health in the European Union (Sunday, 10/27/02)
The European Agency for Safety and Health at Work published its report, The State of Occupational Safety and Health in the European Union, in October 2000. The entire report is available on the web in multiple formats.

Wellstone's legacy (Saturday, 10/26/02)
As Neal St. Anthony reports in the Minneapolis Star Tribune, the late Senator Paul Wellstone, while not a friend of big business, was not really anti-business. He simply felt that the corporate sector had nearly everything already, including strong representation in Congress, so it didn't need him too. His populist approach and campaign strategy meant that he made no pretense of attempting to be everybody's Senator.

During a time when the Taliban and others have made many persons more skeptical of the idea that people should be admired simply for being uncompromising in their beliefs, an increasing number seem to be so sure they're right that they can't understand why anyone would disagree unless they're "evil." Wellstone was an exception, even in relation to many of his own highly partisan followers.

While so sure of himself on some issues that it suggested he saw only part of the problem, he was distinguished for being uncompromising in the sense that he typically did not speak or vote based on political calculation. Also, he did not demonize his political opponents. For these reasons and others, he was loved and admired by his colleagues on both sides of the aisle in the United States Senate, irrespective of ideology.

American society, including many of its representatives in Congress in recent years, have personalized political debate and have confused "opponent" with "enemy." Wellstone did not. He was an honest man of both ideas and action.

Indicators point in contradictory directions (Saturday, 10/26/02)
Is the U.S. economy getting better, worse, or staying about the same? Well, yes, depending on which data you look at. Here's more on the economy's mixed signals.

Labor activist may become Brazil's president tomorrow (Saturday, 10/26/02)
James Cox reports on an election in Latin America's biggest country that could determine the future of its economy.

Citigroup to become a somewhat smaller group (Saturday, 10/26/02)
Citigroup will follow J. P. Morgan Chase and cut jobs, but only about half as many.

The long, hard descent for many of the boom's casualties (Saturday, 10/26/02)
What a difference a couple of years can make. Here's what life is like for some California young people who were flying high only a few months ago, but have hit bottom, so far without bouncing. On the other side of the country, people who were part of the same boom but of a different sector are experiencing hard times too, and it appears that there will be more of them soon.

Agreement about one thing, but with a critical disagreement (Saturday, 10/26/02)
The shippers have been claiming that the recently striking longshoremen are working slowly on purpose, but they're saying that the shippers are the ones responsible. In other labor news, flight attendants have offered to accept a pay cut to help United Airlines stay in the air.

Today's NewWork News Web Tip: Today's NewWork News Web Tip: Center for Sustainability and the Global Environment (Saturday, 10/26/02)
Because of growing evidence that the earth is becoming a different kind of planet, the Center for Sustainability and the Global Environment conducts interdisciplinary research having to do with issues that are likely to shape the quality of life for centuries. It is located at the University of Wisconsin at Madison.

Big downer for the U.S. manufacturing sector (Friday, 10/25/02)
For a time, the American consumer was holding up the U.S. economy, because consumer spending accounts for about two thirds of it. If consumers keep spending, they can keep things from getting worse, and maybe prevent a recession. However, in order for the economy to really get going, business needs to start spending, and it appears that the opposite has been happening. Factory orders were way down in September. In Britain, the manufacturing sector has been doing a bit better, which has boosted economic growth ever so slightly.

Deal reached at Navistar in Chicago (Friday, 10/25/02)
The big truck manufacturer and the UAW have reached tentative agreement on a new contract.

Slavery trial opens (Friday, 10/25/02)
Samoa is a U.S. territory, and the owners of a defunct garment factory there are accused of violating the American Constitution's prohibition against involuntary servitude which became illegal at the end of the Civil War. The trial has begun, according to this report from Honolulu. Here's another story about people who haven't been paid for their work, but the circumstances are quite different. Marcia Gelbart of the Philadelphia Inquirer tells about airport screeners who haven't received their checks and a government agency that's looking like the gang who couldn't shoot straight at a time when Americans need to trust its effectiveness.

Unions scramble to get out the vote (Friday, 10/25/02)
With only days remaining before what might be the most important midterm election in the lives of most Americans, given that control of both houses of Congress is at stake and could go either way, both major parties have a special interest in key state races and both are turning up the heat. For one thing, this is the billion-dollar-plus election with record campaign spending, even though it's not a presidential election. The fact that it's the last campaign not covered by new campaign finance reform legislation has much to do with it. Leigh Strope reports on what organized labor is doing to encourage members to vote.

More on the delay in Japan (Friday, 10/25/02)
Japan's Financial Services Minister has delayed release of the government's report on how they intend to get rid of the big bad loans that have been holding back the Japanese economy for years. Tokyo's Mainichi Daily News explains the reasons.

Job relay (Friday, 10/25/02)
Jobs are being passed from one country to another. First, they were exported from the U.S. to Mexico, where labor costs are far less. However, many manufacturers are finding that Mexico is expensive compared to China where many people earn no more than a dollar per day. Here's more from Jenalia Moreno on Mexican workers who may never have expected that they would have to compete with Chinese workers.

Swimming against the tide: emphasizing employee retention (Friday, 10/25/02)
In most sectors and regions, there's no shortage of qualified workers, and many employers are still trying to find ways to reduce labor costs. Retention has not been a priority lately. However, some companies are still trying to find creative ways tohang on to the workers they need.

Easy money (Friday, 10/25/02)
Many Americans carry a great deal of debt more-or-less permanently, which means that a significant portion of what's left over after taxes simply goes to pay interest, month after month, year after year, thus, in effect, reducing their overall standard of living. Many people could live better on less income if they simply had access to what they earn for their own use. Things that are purchased for cash end up costing far less than things purchased with borrowed money. Generally, it's best not to go into debt, although the housing mortgage for most people is a conspicuous exception, because it allows you to have use of a house for decades while you're raising your family, rather than having to save throughout most of your life in order to be able to afford to buy a house in your old age.

The overall debt problem has been greatly exacerbated in recent years by the ease with which credit cards can be obtained, combined with their very high rates of interest. Now, though, many people are getting into trouble with their mortgages too, given the seduction of increased real estate values combined with low interest rates. It's easy to borrow money on the equity in your home and make that cash disappear. A consequence might be that when it's time to retire, you may still owe a lot of money on your home. Here's more from Michele Derus of the Milwaukee Journal Sentinel. Finally, Russ Wiles of the Arizona Republic tells why more Americans are being targeted by hard-nosed debt collectors now too, but you probably can guess why.

Today's NewWork News Web Tip: Work and Family (Friday, 10/25/02)
The Work and Family unit is maintained by the Australian government to promote family-friendly work practices and to assist both employers and employees in finding ways to improve balance between work and family life.

More sputtering in the forecast (Thursday, 10/24/02)
A new report from the Federal Reserve doesn't see any reason to expect improvement in the American economy real soon. On a more optimistic note, the Fed's Chairman expects persistently strong productivity.

First-time jobless claims decline, but... (Thursday, 10/24/02)
The number of persons filing for first-time jobless benefits dropped last week, but but the government says it doesn't mean the economy is getting better. It's just one of those statistical imponderables. Ponderable to them; imponderable to a lot of other people.

Shipping companies make their accusations official (Thursday, 10/24/02)
The dispute that had closed 29 West Coast ports until the President invoked the Taft-Hartley Act is far from over, even though ships are being loaded and unloaded again, at least until the mandated "cooling off" period has expired. The shipping companies are claiming that longshoremen are working more slowly, and they want the U.S. Department of Justice to intervene.

Pacific Rim nations meet to discuss anxieties and trade (Wednesday, 10/23/02)
Most on the minds of representatives attending the Asia-Pacific Economic Cooperation meeting today and tomorrow are ways of liberalizing trade among 21 Pacific Rim nations, but also the many things there are to worry about in a dangerous new century. Speaking of anxieties, Tokyo's Asahi Shimbun reports that Heizo Takenaka seems to be making bankers nervous.

Is it the lack of recognition? (Thursday, 10/24/02)
That businessman seated next to you on the plane may not be a businessman at all. Instead, he may be fully armed, but he's not a terrorist. He's there to protect you, but he may not be too happy about it. You're not supposed to know who he is, why he's there, or how many there are like him. Blake Morrison of USA Today reports that many federal air marshals already seem to e sick of it. That is, many are calling in sick, but it may be because of a serious morale problem. In contrast, a new New York Times survey finds that the morale of job seekers seems to be holding up pretty well, at least in the New York metropolitan area, despite challenging economic circumstances.

Skills shortage in New Zealand (Thursday, 10/24/02)
Jobs expert Vivian Hutchinson writes about industry plans for relieving the shortage of skilled persons in several of New Zealand's industries.

It makes you want to stop opening your mail (Thursday, 10/24/02)
Reading those periodic statements on retirement accounts has gotten to be too depressing. Many people have stopped reading them.

Not a pretty picture (Thursday, 10/24/02)
Kodak intends to cut as many as 1,700 jobs because of the slow economy. However, conventional chemical-based photography is also faced with challenges from a technological revolution at the same time. Polaroid was flatted by electronic imaging devices, because there's nothing more instant than digital picture making. Now, with image quality increasing and prices dropping, companies like Kodak are having to circle the wagons too. In fact, James Harris, author of the new book Blindsided says that the Polaroid experience has lessons for a lot of companies that may be heading toward bankruptcy at top speed, but don't know it.

Follow the money (Thursday, 10/24/02)
Neil Diamond has said that "Money talks, but it don't sing and dance." However unpoetically, though, it does still talk, and many people are willing to listen. If you've been mystified at what's happened to some managers who have been cut loose (good news for them) and what has happened to thousands of workers who have been cut loose (bad news for them), you'll be less mystified if you simply take Deep Throat's advice and follow the money, according to Diane Stafford in Kansas City. In a rigged game, it may be hard to keep your job, no matter what. However, Ms. Stafford says that becoming a better performer can help, particularly in companies that are not run by the unscrupulous or insensitive, but are simply trying to cope with hard times.

Today's NewWork News Web Tip: Palestinian Central Bureau of Statistics (Thursday, 10/24/02)
The Palestinian Central Bureau of Statistics provides official economic, demographic, and other kinds of data. The latest Consumer Price Index as well as a recent survey of the Palestinian labor force are included.

Bold action in Japan may be on hold (Wednesday, 10/23/02)
Many countries have found that economic necessity can be politically difficult. Japan's once-mighty economy has been struggling for a decade in large part because of banks debilitated by huge bad loans. In recent weeks, it has appeared that the Japanese government is about to begin the actions many observers feel will be necessary to reinvigorate the world's second-largest economy. But, not so fast--an interim report on the government's new plan has been delayed indefinitely. The BBC is reporting that the man who has been put in charge of fixing things is coming under increasing pressure.

U.S. nurse shortage gets deadly serious (Wednesday, 10/23/02)
The United States doesn't have nearly enough nurses, and it's getting worse. Moreover, the consequences can be life-threatening, according to a new study published in the Journal of the American Medical Association. For one thing, if you're scheduled for surgery, you probably won't want overworked nurses caring for you, and many of them are overworked.

As we were saying... (Wednesday, 10/23/02)
Putting "Fox and Bush" in the same sentenced reminds many people that "Bush and Quayle" some years ago sounded like a hunting magazine. In this case, Fox and Bush are two very important North American presidents who, as of September 10, 2001, appeared to be working out an immigration agreement. Mexican President Fox wants to resume those discussions. The alternative, he says, will simply be more poor Mexicans trying to get across the border into parts of the United States that were once parts of Mexico. Fox wants a deal that will reduce the pain for Mexican farmers.

Update on people who were tossed overboard when Enron sank (Wednesday, 10/23/02)
Harvey Rice and Bill Murphy of the Houston Chronicle report on lives fundamentally transformed when a hometown company went very bad.

The boss may be willing to pay you more if you're the boss (Wednesday, 10/23/02)
David Francis suggests that there's not really all that much mystery behind the great growth in the number of women-owned businesses. For one thing, one may be less-inclined to encounter a glass ceiling out in the market than within many existing work organizations. Whether current trends will continue with the younger generation is an interesting question. A new survey from Simmons College finds that a major portion of teenage girls seem to want to avoid business careers altogether.

Help in making a good impression (Wednesday, 10/23/02)
Clothes matter, and they may matter too much. Nonetheless, job applicants who don't give a good appearance may not get past the front door. For some, obtaining the necessary clothing can be a life-thwarting obstacle, unless others help. As Susan Gregg Gilmore reports, there are people who are helping a lot so that job-seekers can look like they're ready for work rather than simply refugees from hard times.

Today's NewWork News Web Tip: Electronic Journals (Wednesday, 10/23/02)
The United States Department of State publishes several electronic journals, including Economic Perspectives.

Indicators signal trouble (Tuesday, 10/22/02)
The Conference Board's normally reliable Index of Economic Indicators is down again, suggesting that subdued economic activity lies ahead, but experts don't expect another recession.

Job cuts in Switzerland (Tuesday, 10/22/02)
The Swiss postal system is reducing the number of sorting centers and plans to cut 3,500 jobs.

United to cut more jobs (Tuesday, 10/22/02)
Airline industry losses continue, and one major carrier, United Airlines, will cut another 1,250 jobs, which amounts to one and a half percent of its workforce. Meanwhile, in Europe, Air France's pilots union calls for a strike to support its demands for higher pay. If it happens, it will last four days and begin November 1.

New 401(k) regulation takes effect in January (Tuesday, 10/22/02)
After January 26 next year, workers with 401(k) retirement accounts will be entitled to 30 days notice before their employer can block access to the accounts in order to make administrative changes.

Last-minute sprints (Tuesday, 10/22/02)
With control of Congress at stake, both major parties are going all out in their effort to win key Congressional races. Democrats will be emphasizing economic issues in their TV ads, while President Bush is attempting to attract older voters with his proposal for getting generic drugs into the market faster, which Democrats say is full of holes...loopholes, in particular. In some parts of the country, nearly all of the political TV ads have been emphasizing the Social Security privatization issues as well as the cost of prescription medications for some of the same reasons that most of the ads on the evening network news broadcasts seem to promote remedies for the ailments of old age. Older people watch the news, and older people vote.

Persons working for minimum wage still earn what they did in 1997 (Tuesday, 10/22/02)
The federal minimum wage was increased 40 cents per hour five years ago, and that was the last time. Congressional Democrats had hoped to get another boost this year, but it hasn't happened.

Generally, it is the Democrats who support the idea of a guaranteed income level for working people that at least keeps up with inflation, and some support the concept of "living wage" that has gained currency in some regions.

Republicans, on the other hand, are more likely to claim that forcing employers to pay low-skill people more destroys jobs, and, in an era of international competition, makes American employers and their workers less competitive in the global market and encourages the exporting of American jobs to regions where people are willing to work for less.

The whole issue also relates to the perennial question of whether the market should be sole determiner of value; i.e., whether buyer and seller should be entirely free to arrive at a price satisfactory to both, which Republicans tend to favor. More freedom and less government in our lives is better, they say.

Many Democrats, on the other hand, say that, for society's poorest or most vulnerable, this is a bad idea for the same reason that opposition to collective bargaining is a bad idea. Power differentials are so great that the community must step in to insure anything resembling justice. Might doesn't make right, either on the streets when a weak person is mugged by a strong one, or in work settings where a corporation may have hundreds or even thousands of times more power than an individual.

Speaking of freedom, you're free to decide.

Plan ahead for possible unemployment (Tuesday, 10/22/02)
Overall, the U.S. unemployment rate is still relatively low, by historical standards, but for a person who's lost a job, it's personally at 100 percent. Moreover, it's taking longer than usual to find another equivalent job this time, so jobless persons, even though somewhat fewer in number, may remain jobless for sometime. The Wall Street Journal's Terri Cullen offers some advice on the advance planning that you should be doing while you're still employed. Debbie Burke has further advice along the same lines.

A growing sector (Tuesday, 10/22/02)
If you've been considering a future in the airline or telecommunications industries, it may be time to reconsider. How about biotechnology instead? It's a hot field that's going to get hotter. Forecasters have been saying that if the 20th century was the century of physics and its spinoff technologies, the 21st century is likely to be the century of biology.

Smoke-free zone (Tuesday, 10/22/02)
The Lee County, Florida Sheriff's office won't employ smokers.

Today's NewWork News Web Tip: The Roman Economy (Tuesday, 10/22/02)
Here is a little information about the things such as buying, selling, currencies, inflation, and other issues in the Roman economy from San Jose State University.

A more united Europe (Monday, 10/21/02)
Following Ireland's latest vote, ten more countries will become part of the European Union in the next two years. When did Europe last enjoy such a high degree of economic and political integration? Maybe never, at least as a consequence of law rather than conquest. Those who believe that everything in the world has been getting worse haven't been paying attention. It's just possibly that centuries of European wars may be at an end.

Britain's budget problems (Monday, 10/21/02)
The UK's economy has slowed, and this will leave the government short 7 billion pounds. If you have some personal budget problems of your own, it may be time to bite the bullet so that you won't be dedicating the remainder of your life to paying interest. Linda Stern offers some practical advice for getting out of debt once and for all.

Again, economics may not work for the Democrats (Monday, 10/21/02)
During the 2000 campaign, Al Gore acted as though President Clinton was the "third rail" and he did what he could to put a good deal of distance between himself and the President. However, by so doing, he not only managed to disassociate himself from Clinton's personal scandals, which nobody thought had anything to do with Gore in the first place--his wife Tipper largely invented the "family values" movement to clean up some of the pop culture, after all--candidate Gore also managed to allow voters to forget about the Clinton-Gore economic successes when they went to the polls.

So, what many expected to be a Gore victory by a fairly wide margin turned into a tie which had to be resolved--it HAD to be resolved; think of what would have happened if 9-11 had occurred during a time when it was not clear who was president--by means which could have weakened the Constitution. Then, what it usually takes to make a so-so president into a major president--a national emergency--happened. Suddenly, a man whom many people, including many Republicans, off the record, regarded as unexceptional, became presidential, and the U.S. political landscape shifted considerably.

So, apparently, it isn't always the case that "it's the economy, stupid." Ordinarily, the party out of power does fairly well in midterm elections. That, combined with the current condition of the U.S. economy and its decline since President Bush took office, should be enough to give encouragement to the Democrats.

But, there's nothing ordinary about the circumstances of the election early next month. Susan Page writes from Washington that the Democrats don't necessarily have the edge at this point. Republican leaders have been working on detailed contingency plans for what they will do if their party takes full control of the Congress this time. Given the almost exactly even cultural split in the U.S. right now, this is making about half the population scream "Oh, god," and the other half yell, "Thank god." Stay tuned.

Proof of slowdown slows down (Monday, 10/21/02)
Shipping companies that have claimed longshoremen who returned to work under court order have been going slow so far have failed to provide the proof promised to federal prosecutors.

CAW ratifies new contract (Monday, 10/21/02)
The "i's" are being crossed and the "t's" dotted on a new three-year contract between the Canadian Auto Workers and DaimlerChrysler Canada now that workers have voted to accept the deal.

Pediatricians in short supply (Monday, 10/21/02)
Japan's rural regions are very short of physicians specializing in child care. Here's more from Tokyo's Asahi Shimbun.

Update on religion and economics (Monday, 10/21/02)
Most of the world's major religious traditions have included an ascetic element, or, at least, the view that materialistic preoccupations are somehow inconsistent with the spiritual life. Among the figures who have been identified with this attitude have been Siddhartha Gautama, Francis of Assisi, and also Jesus, to whom the notion that it's easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God has been attributed.

However, an anti-materialistic view hasn't predominated in all versions of Christianity, and, in fact, opulence has been stressed or flaunted at various times. A recent news story told of a new church being built in a Twin Cities suburb for approximately $35 million, for instance. And, of course, only a few years ago, several TV evangelists were telling their viewers that "God wants us to be rich," while also suggesting that a generous mailed-in contribution to the evangelist might encourage God to reward the viewer. A little pump-priming can't hurt.

The broader question about the empirical relationship between a society's religious culture and its economics has been on powerful, creative minds for quite a long time, including sociologist Max Weber during the 19th century. Over the years since, we've learned a lot about what it takes to answer empirical questions; i.e., about the necessary research methods. Scholarly work has continued, and David Francis offers a brief summary of the latest findings.

Incidentally, if you feel that your house doesn't have quite enough "show-off value" and that it's limiting your spiritual life, this might be a good time to think about getting into something more spacious and pretentious. USA Today reports that the market for high-end homes is slipping a little, which should mean that diminished demand will drive prices down a bit. You can always tell your friends and biz associates that you paid more for it than you really did.

The average American home has more than twice the floor space of fifty years ago, even though families have gotten smaller. During the same period, not surprisingly, Americans have increased their per capita energy consumption. Considering that the United States, despite its current hegemonic position, has only about five percent of the world's population, it might be in America's enlightened self-interest to be seen by the rest of the world as being genuinely committed to something other than its own self-indulgence.

That democracy "shall not perish from the earth" may very well depend on the continued existence of the United States in something resembling its traditional form. However, other people who, by numbers alone, could swamp the relatively small U.S. population if conditions change, may need to feel that they have a genuine stake in America's survival and success.

We believe that there are things about the United States that are worth preserving at all costs and that the entire world needs for us to preserve them. However, these probably have more to do with the ideas of Jefferson, et al., than with American wealth and opulence within a global sea of desperate poverty, desolation, and dehumanization.

Whoops! Expect the unexpected (Monday, 10/21/02)
Everybody knows what the road to hell is paved with. Patrick Delaney offers some reasons for expecting that things won't turn out quite as expected once all the "corporate reforms" are in place. It's the "law" of unintended consequences.

Columnist doesn't like California's new leave law (Monday, 10/21/02)
California has gone further than federal law requires, and noted career columnist Diane Stafford thinks it's gone too far. Speaking of careers, Leslie Eaton of the New York Times tells about what you can do to market yourself effectively when you're unemployed so that you're noticed while surrounded by the multitude.

Buying the world? (Monday, 10/21/02)
When Mao said that all power comes from the barrel of a gun, he apparently didn't anticipate China's current economic position. Elaine Kurtenback reports on some of the new ways in which China is making its neighbors nervous.

Many workers feel that losing part of their pay is better than losing all of it (Monday, 10/21/02)
Some employers are cutting costs by cutting employee pay, and this isn't producing as much outrage as you might expect.

Refinancing for cash (Monday, 10/21/02)
Mary Snyder of the Christian Science Monitor examines the wisdom of refinancing your mortgage in order to put money in your pocket.

Today's NewWork News Web Tip: Work Life Book (Monday, 10/21/02)
Work Life Book is an Internet project that its producers intend to turn into a print project. You're invited to share your thoughts and experiences about work. Your contribution could become part of the publication.

Ireland appears to be saying "yes" (Sunday, 10/20/02)
Less than a year and a half ago, Ireland prevented the EU's expansion into eastern regions of Europe. However, the results are coming in on the latest vote, and Ireland seems to be choosing to approve the action this time. Final tallies still aren't available, though.

Protection for your 401(k) (Sunday, 10/20/02)
New regulations announced by the President are intended to protect the investments of 40 million Americans with 401(k)s. Here are details from Lawrence Knutson in Washington.

Russia looks in the mirror (Sunday, 10/20/02)
Russia is a country that has been undergoing historic transformation since the collapse of the old Soviet Union, but experts think the new census will miss a lot.

The U.S. has undergone some fairly profound changes too, according to Paul Krugman, and he doesn't like what he sees. America isn't as much a middle-class society as it used to be, he says, and this provides reason for concern. Historically, countries with a rich minority and a poor majority haven't done terribly well.

What does it take to get people to borrow money? (Sunday, 10/20/02)
Current conventional wisdom among most economists is that the Fed isn't likely to lower interest rates again for a while, but now there may be reason to doubt. Both households and corporations seem to be cutting back on their borrowing, despite low interest rates, and that means a slowing of the flow of capital through the economy and a slowing of the economy itself. Thus, even lower rates may be coming after all.

The Chairman of the President's Council of Economic Advisors acknowledges unease over corporate reluctance to invest in new factories and equipment , while managers worry that a big war with Iraq could boost oil prices, which not only would increase the cost of doing business for many of them, but also discourage consumer spending.

America West and its unions continue to wrestle over wage levels (Sunday, 10/20/02)
AmWest employees are among the most poorly paid in their industry, but the company says it's not in a position to improve things for them at the present time, particularly since a commitment to control costs was part of the deal in qualifying for a federal loan guarantee. Kerry Fehr-Snyder has more from the Arizona Republic.

Nightmare job during the day, bad dreams at night (Sunday, 10/20/02)
Actually, even if you don't have a job from hell, job stresses may seep into your dreams, according to researchers.

Along slightly similar lines, the job of your dreams isn't necessarily one in which you're your own boss either, according to the Washington Post's Amy Joyce.

Today's NewWork News Web Tip: The History of the European Union (Sunday, 10/20/02)
With the EU and its prospects for eastward expansion in the news today, you may be interested in tracing the organization's economic and political development. Here's a chronology of the European Union from 1946 to 2002.

In Irish hands (Saturday, 10/19/02)
Ireland voted against ratifying the Treaty of Nice in 2001. Voting is starting a second time, and, as Ed Johnson reports from Dublin, the outcome will determine the future of the European Union and whether it will expand eastward.

Italy's second general strike in six months (Saturday, 10/19/02)
Millions of people join union protesters in tying up most of the country for a day. The reasons have to do with dissatisfaction with the Italian government's economic policies. Here's more from Luke Baker in Rome.

Fear slams D.C. economy for the third time in little more than a year (Saturday, 10/19/02)
First came the September 11 terrorist attack, then the anthrax mess, now the sniper. Overall, as Jonathan Salant reports, the District of Columbia region, including parts of neighboring Virginia and Maryland, is suffering economically. For one thing, fear for one's personal safety is not encouraging tourists to visit the nation's capital, but, according to a new report, tourism is down in many American cities, and that's contributing to an economic pinch.

Better than it looks? (Saturday, 10/19/02)
Federal Reserve officials seem to agree that the U.S. economy is better fundamental shape than many Americans seem to believe, so another interest rate cut seems increasingly unlikely, according to Edmund Andrews of the New York Times.

More persons 55 and older are in the labor force (Saturday, 10/19/02)
It's best not to claim that we really know what's going on or what may happen next. It just makes us look silly. Many people who have been looking forward to retirement have been surprised by surprising economic conditions. Here are some of the details from a new study conducted by Boston College's Center for Retirement Research.

Cultural change in Japan (Saturday, 10/19/02)
A variety of social and cultural patterns seem to have undergone modification in Japan a recent years because of new economic necessity. For one thing, "lifetime employment security," once the norm, may still be accessible in the newer history books, if you're really interested in how it once worked and how "Japan, Inc." took care of everybody in a Confucian-like social pyramid. Here are more changes: Peter Goodman and Akiko Kashiwagi write in the Washington Post about the changing Japanese woman's role, including greater labor market participation and increasing power.

What happens to the roof over your head if you lose your job? (Saturday, 10/19/02)
Americans have an international reputation as some of the world's worst savers. Many families spend everything they earn and borrow more, which makes them especially vulnerable if the income source suddenly disappears. Kenneth Harney tells about one way of protecting one's home in case of unemployment.

Today's NewWork News Web Tip: Human Rights Watch (Saturday, 10/19/02)
How are human rights doing around the world? Here's the World Report for 2002 from the Human Rights Watch organization.

A strike shuts down much of Italy (Friday, 10/18/02)
You will be forgiven if you long ago lost count of how many governments Italy has had since World War II. It remains to be seen if the current one can withstand pressure from hundreds of thousands of striking workers. Here's more from Luke Baker in Rome. Some miles to the north, there are other labor-government problems. Teachers all across France at most academic levels temporarily have left their jobs to protest government policies.

WTO membership held up for Russia (Friday, 10/18/02)
Russia's economy isn't quite the basket case that it was a few years ago. In fact, a growing middle class is producing a modern consumer culture, which would be enough to make Lenin chew on his knuckles. Moreover, Russia's economy is a large one now, so why isn't it a member of the World Trade Organization? That's supposed to be coming, but Russia is still too protectionistic in some sectors to please WTO officials. They're working on it, though.

The U.S. airline industry continues to bleed (Friday, 10/18/02)
Delta still is the third-largest airline in the United States, unless it's cutting jobs faster than its competition. As many as 8,000 additional jobs will be cut from Delta, according to company officials in Atlanta. Northwest is the country's fourth-largest airline, or, at least, the last time we checked. More job cuts may be coming in their case too following the $46 million loss during the third quarter. Struggling United Airlines is about to get some help from the International Association of Machinists. They're trying to work out a deal whereby machinists can help the company save $5.8 billion in labor costs over the next several years. However, despite everything, most airlines have been doing a bit better than Wall Street analysts expected.

When a company is hemorrhaging financially, sometimes it's nature's way of saying that it needs to be smaller because there isn't enough business for the larger company it used to be. That may be happening to Boeing, which has gotten very much used to being the world's largest commercial aircraft manufacturer. Now, according to the Seattle Times, Boeing expects to cut more than the 30,000 jobs that have been on the chopping block for sometime, while Airbus may be about to become Number 1.

A rising Sun or a setting Sun? (Friday, 10/18/02)
The tech sector continues to bleed too. Matthew Fordahl reports from San San Jose Mercury News that Sun Microsystems plans to cut 4,400 jobs following a $111 million loss.

The CPI rises a bit (Friday, 10/18/02)
The Consumer Price Index is one of the leading measures of inflation in the American economy. It rose a bit in September, but the surprise is that it didn't increase more, given the increases in energy costs. Generally, economists don't believe that inflation is a problem in the U.S. economy, and they see little sign on the horizon that it will become a problem, at least, under current conditions. However, this is a world filled with surprises in which conditions can change rapidly. One consequence of low inflation is that Social Security payments, which are indexed to the cost of living, will increase so little next year that most people may not notice the change.

Today's NewWork News Web Tip: Economic Sanctions for Achieving Foreign Policy Objectives (Friday, 10/18/02)
With North Korean government headquarters apparently resembling some sort of security hospital, news that this rogue state is developing, and, in fact, may already have, nuclear weapons is not a source of contentment for many persons in the world, particularly those in South Korea, Japan, the United States, and probably China as well.

The Clinton administration came close to going to war with North Korea in 1994 when one major American news magazine ran a cover story titled "The Most Dangerous Place on Earth." Presently, though, it doesn't appear that the Bush administration is considering a military solution to the problem, because there don't appear to be any acceptable military options.

Seoul, the highly populous capital of South Korea, is only a few miles from the North Korean border. Any military conflict, conventional or nuclear, would lay waste to the Korean peninsula, resulting in enormous casualties on both sides. Even though there is no way that North Korea could be victorious and even though an attack from the North almost surely would be suicidal doesn't necessarily mean it can't happen, given the mysterious irrationality of the man who is supposed to be in charge of the government.

Moreover, a rapidly evolving China has less in common with North Korea with each passing day. China's leaders don't appear to be closet democrats or particularly altruistic, but they don't appear to be insane either. North Korea's Stalinist ideology, as well as its fundamental irrationality, can only be unsettling to them as well, given their much greater interest in economic development now than any destabilization of the entire region.

Nonetheless, there is always the possibility that war between North and South Korea could pull China into a conflict with the United States, which seems to be the only real possibility right now for an armed conflict on a scale of either of the 20th century's world wars. In other words, no rational person in any modern country wants it. International politics has made "stranger bedfellows" than a democratic America and whatever China is at this point in addition to authoritarian, but both probably share an interest in seeing North Korea domesticated.

It may be fortunate that rich America, rich Japan, rich South Korea, and increasingly rich China can have great potential economic leverage when dealing with desperately poor North Korea. But, how well have economic sanctions as an instrument of foreign policy worked in the past, and what are the conditions under which they work relatively well or relatively poorly? Here's more on economic sanctions from the Institute for International Economics.

Jobless claims increase last week (Thursday, 10/17/02)
First-time jobless claims increased last week, and the total number of persons continuing to claim unemployment benefits was at its highest level in four months, according to Nancy Waitz in Washington. Overall, ABC News says that various government reports provide a mixed economic picture.

Workers protest in China (Thursday, 10/17/02)
At one time, any kind of organized protest would have been immediately suicidal in China and probably still would last no more than about 90 seconds in Beijing's Tiananmen Square. It's still very dangerous in other settings as well, but, in a changing China, the government is having to pay some attention to an emerging public opinion. With sufficient coordination, it could easily be swamped in a nation with such an enormous population. The Chinese government's concerns about the Falun Gong religious movement seems to be based in anxiety about the group's ability to organize large numbers of people, and any organization not under governmental control is seen as threatening. Christopher Bodeen reports from Beijing on a protest carried out by laid-off factory workers in Xi'an.

Most U.S. workers have bargaining rights (Thursday, 10/17/02)
A new report from the General Accounting Office indicates that about three-quarters of the American civilian workforce has collective bargaining rights under various laws.

Just sick of work (Thursday, 10/17/02)
A new survey finds that only about a third of the sick days used are because of genuine illness. It's the season of open enrollment too, and this year, rapidly increasing costs are causing both employers and workers distress. Here's more from Michelle Singletary of the Washington Post.

Today's NewWork News Web Tip: Business Cycle Indicators (Thursday, 10/17/02)
New York University Professor Nouriel Roubini offers an introduction, as well as a hypertext glossary and other information about Business Cycle Indicators.

Strike averted in Canada (Wednesday, 10/16/02)
The CAW and DaimlerChrysler reached a last minute deal, which means that everybody will continue going to work.

Fear's impact on economies (Wednesday, 10/16/02)
International terrorists who would like to destroy the United States, the West, and maybe modernism overall, know that fear is bad for business, which is one of the things that trying to terrorize people is all about. A few people who were willing to die, combined with a relatively small amount of money, were able to deliver a major hit to the enormous American economy more than a year ago. Similarly, as we've reported, Indonesia's economy will be hit hard by the terrorist attack in Bali, and, as Michael Barbaro and Dana Hedgpeth report, the sniper in the D. C. area is also having economic effects.

Airline mechanics to migrate north (Wednesday, 10/16/02)
Northwest Airlines is closing its maintenance facility in Atlanta and will move hundreds of mechanics to the company headquarters in the Twin Cities.

If you still can't find a job, maybe this will cheer you (Wednesday, 10/16/02)
Well, maybe it will take more. At any rate, Victoria Thielberger reports from New York that Federal Reserve officials are insisting that the American economy is still in pretty good condition.

The AMA warns that tough times for seniors could be ahead (Wednesday, 10/16/02)
The Congress might cut Medicare reimbursement rates for medical personnel. The American Medical Association says that this may simply mean that Medicare patients will be dropped and have difficulty finding health care.

Part of what the term "leverage" refers to (Wednesday, 10/16/02)
Every once in a while, because of the nature of the American Constitutional system, a few voters have an opportunity to influence the entire direction of American society, which may have been part of what the founders had in mind with their great emphasis on the individual.

Those who believe the electoral college is antiquated and irrational--that whichever presidential candidate gets the most votes nationwide should be the winner, no matter what--might want to consider that if everything were distributed according to population, California, for example, would have more than 30 times as many Senators as North Dakota, and a presidential candidate would never again set foot in any except a half dozen states.

Moreover, if it were not for the American federal system, isolated regions with little population probably would have their resources routinely exploited by the high-population regions and be forever on the short end whenever any government-controlled benefits are handed out. Of course, the smaller population regions wouldn't put up with that forever, and we can expect that the U.S. would have become "balkanized" long before now. The federal system probably has made it possible for the United States to hold together as a single nation without the crushing hand of dictatorship. Here's one person's view of what might have happened and what North American might look like at this point.

So, this is the season in which both major parties are spending god-knows-how-much on each potential vote in sparsely populated places like South Dakota. Sharon Theimer has more on the very-close races that can determine the power balance in the great American Congress for the next two years.

Turning temp into perm (Wednesday, 10/16/02)
Noted Kansas City Star career columnist Diane Stafford tells how temp work can help you find the job you really want.

Today's NewWork News Web Tip: Diversity Job Market (Wednesday, 10/16/02)
Diversity Job Market is brand new to the web and comes from the New York Times and Community Connect, Inc. It claims to offer the nation's largest database of Asian American, African American and Hispanic job candidates.

CAW may strike at midnight (Tuesday, 10/15/02)
The Canadian Auto Workers union is set to strike DaimlerChrysler at midnight, but, given overproduction, the company won't be hurt as much by a strike now as it might be at some other time. About 11,000 workers will be affected. Here's more from Scott Anderson of Forbes. A strike already has started at an Alabama helicopter plant. The plant manufactures and repairs military helicopters. Meanwhile, labor concerns continue to hold up agreement on the proposed U.S. Department of Homeland Security which would employ 170,000 people.

Health costs increase at an increasing rate (Tuesday, 10/15/02)
Employers who sponsor health coverage for their workers will be paying an average of more than $800 more next year than this year, according to a new survey of health plans in 139 markets. The average yearly cost per employee is expected to reach $6,295 next year.

Street prices in higher ed (Tuesday, 10/15/02)
As in many other industries, price competition in higher education is creating a gap between published prices and what some students actually have to pay. The Washington Post's Albert Crenshaw reports on the growing use of discounts and other devices.

Reasons for greater minority home ownership (Tuesday, 10/15/02)
According to a HUD report, the homeowners themselves would not be the only ones to benefit if more African American and Hispanic families were to own their own homes. The U.S. economy would experience a big boost too. Here's more from Jennifer Loven in Washington.

Fed should stick to its business, official says (Tuesday, 10/15/02)
A Federal Reserve Board Governor believes that the Fed should focus only on the economy, and not try to get into the business of deflating bubbles. Chairman Alan Greenspan has been criticized for not doing more than talking about "irrational exuberance" during the big tech bubble of the late 1990s.

Privatizing debt collection (Tuesday, 10/15/02)
If you owe the IRS money, you could be getting calls soon from some of the same people who have been bugging you about other debts. The Internal Revenue Service is considering calling on private debt collectors in an effort to recover some of the $200 billion that Americans owe their government.

Why the economic issue isn't necessarily a slam-dunk for Democrats (Tuesday, 10/15/02)
With a number of excruciatingly close elections throughout the country, any one of which could determine the Congressional power balance, Democrats have been trying to change the subject and connect the Republican candidates in the public mind to their economic concerns. Problem is, according to this opinion piece from Business Week, the Democrats may be better equipped to diagnose than prescribe at the moment.

A gender difference in risk-taking (Tuesday, 10/15/02)
Russ Wiles of the Arizona Republic says that women investors tend to use greater discipline and take fewer risks.

Today's NewWork News Web Tip: International Comparisons in Education (Tuesday, 10/15/02)
The U.S. government's National Center for Education Statistics also compiles data for those interested in making International Comparisons in Education.

Terrorist attack hurts Indonesia's economy (Monday, 10/14/02)
Indonesia has the world's largest Islamic population, so the fact that the terrorist bombing in Bali that killed nearly 200 tourists also has further weakened an already weak Indonesian economy can either be taken as a textbook example of unintended consequences or as strong evidence that Islamic extremists do not represent Muslims in general.

More subsidies in Japan (Monday, 10/14/02)
The Japanese government intends to provide somewhat stronger incentives for companies to create jobs. Here's more about the extra subsidies from Tokyo's Asahi Shimbun.

Which is more fun right now, being in the airline business or telecommunications business? (Monday, 10/14/02)
Both sectors continue to suffer, and both continue to shed jobs. For instance, Northwest Airlines will need 63 fewer pilots by the first of February.

Careful, if you're not willing to cook (Monday, 10/14/02)
Edward Iwata of USA Today reports on some of the executives who are going to court because they say they were fired when they refused to "cook the books."

For a variety of reasons, probably most prominent among them the slowness of the economy, managers have been losing their jobs at a fairly furious rate during recent months. However, that seems to be turning around a bit. Stephanie Armour reports that many companies are hiring and training new managers without waiting for an upturn. Presumably, they want to be ready and well-positioned when it comes.

Fewer people have reason to look forward to career's end (Monday, 10/14/02)
The Congressional Research Service, the government "think tank" maintained by the Library of Congress to assist members of the House and Senate, reports that there has been a recent decline in the number of private-sector workers covered by retirement plans.

Dealing with work life's little annoyances (Monday, 10/14/02)
Columnist Amy Joyce might have said, "Don't sweat the small stuff, and it's ALL small stuff," but she didn't. She does suggest keeping things in perspective, though, and has some suggestions for coping with workers who may annoy you.

Actually, some stuff isn't all that small, at least to the people directly involved. David Leonhardt and Daniel Altman the real pain that is radiating throughout American society during a time of economic sluggishness and little new job creation. Mr. Altman also discusses the disagreement about what sort of growth level is required to bring unemployment down.

Just flip a coin instead: it works about as well, and it's also cheaper (Monday, 10/14/02)
There have been numerous examples of government exempting itself from prohibitions imposed on individuals and organizations in the private sector. For example, private employers have been prohibited from using the non-existent "lie detector"--"non-existent" in the sense that there is no machine that really is capable of detecting lies--since 1988. Not so in government, but a panel of scientists says it's time for government agencies to catch up, not only to the private sector, but also to reality as we now understand it.

The persistence of the so-called "lie detector" long after similarly remarkable procedures such as trial by ordeal have disappeared from the American scene is part of a more fundamental problem in the United States and elsewhere. A major proportion of people on both sides of the "culture war" that currently divides American society still don't understand what it takes to arrive at trustworthy answers to empirical questions about nature, including human nature, as well as the past. Most people think they already know "the truth," but that could hardly be further from, well, the truth. Why do professional researchers go to all that technical trouble when trying to figure things out? It's because THAT'S WHAT IT TAKES. If we don't do what it takes, we have no reason to trust our conclusions.

In general, over the past 450 years or so, and greatly accelerating over the past few decades, there has been a growing divergence between what most people believe to be true about nature, including human nature, as well as the past, on the one hand, and humanity's best available knowledge of these things, on the other. They've been getting further and further apart.

As a consequence, we shouldn't be surprised at much of the novel and disturbing stuff we've been reading about in the news recently. We have no reason to expect familiar outcomes under unfamiliar conditions.

Incidentally, can the "polygraphy" be of genuine use to law enforcement officials even when it doesn't work? Yes, if a suspect believes it works and decides to confess. Under these conditions, it is sometimes an effective theatrical prop.

Today's NewWork News Web Tip: The World's Women: Trends and Statistics (Monday, 10/14/02)
The United Nations' Department of Economic and Social Affairs offers their year 2000 edition of the World's Women: Trends and Statistics, with many updated more recently.

Pols follow the polls...again (Sunday, 10/13/02)
The polls are showing that, while terrorism, Iraq, etc., are certainly on the minds of Americans, uppermost only a few weeks before the big midterm election may be the gasping U.S. economy and how they may be personally affected. John Heilprin reports from Washington on how both parties are trying to lead by following.

With the two houses of Congresses almost evenly split between the two major parties, the election on November 5 largely will determine public policy over the next couple of years by determining who will be in charge, and control of Congress could go either way at this point. If the Republicans end up with a majority in both houses, President Bush will be well-equipped for following his agenda during the second half of his term, and, depending on whether he makes major mistakes or major unforeseen events occur, probably well-positioned for a second term. On the other hand, if the Democrats end up controlling both houses of Congress, the President will be greatly weakened. If the Congress ends up split again, as it has been recently, it will be a mixed picture, and external factors will become more influential in determining the direction of the country.

However, not only is the Congress almost evenly split, the country as a whole appears to be as well, and several major Congressional races, any one of which could tip the balance in Congress for the next two years, are running so close, according to the polls, that there is a good chance that the vote in several could end up within the "margin of error"--i.e., "standard error of measurement-"-meaning that they could be so close as to exceed the precision of our means for measuring voter preferences. It could be Florida all over again, even in several places at once. In effect, it can create the kind of social ambiguity that can feed further polarization, selective perceiving, demonizing of the opposition, and loss of the core consensus that makes it possible for a diverse continental population to hold together as one nation.

Needless to say, both parties are pouring money into the close key races--e.g., Minnesota, Colorado, etc.--and, as Leigh Strope reports, organized labor is doing the same.

The fourth game of the American League Championship series last night between Anaheim's Angels and the Minnesota Twins brings to mind processes that may also influence American society as a whole during what could turn out to be a critical transition period. For the first seven innings, the teams were in equilibrium, and the score remained at zero to zero. Then, suddenly, that equilibrium was shattered, and in quick succession, Anaheim scored seven runs. Despite the lingering balance over several innings, the final score was very lopsided: 7 to 1 in favor of the Angels.

This seems to be a fairly common phenomenon in nonlinear, complex dynamic systems as described by the mathematics of "chaos theory," which is a misleading name for it, but that's what it's come to be called. A system remains in equilibrium for a while, but, as it turns out, that equilibrium is fragile, like a pin balancing on its point. The smallest influence can disrupt it and change everything. The original ideas and research came from meteorology, because the atmosphere is a nonlinear, complex dynamic system. However, to some significant but still poorly understood extent, it appears, so are dyadic human relationships as well as other kinds of social systems at micro-, molecular, and molar levels, including economic and political systems. Also, too, the functioning of the human brain.

Marketing people also observe this fairly common phenomenon. Two competing brands in a new product category, say, are introduced and both are heavily promoted. For a time, both have almost exactly equal market shares. Then, suddenly, the market "tips over," and one brand is selling twice as much as the other. The system has gone into an entirely new state, and achieves a new, more permanent equilibrium. One of the brands becomes the "permanent" market leader with the dominant share.

Similarly, in television. In large local markets, many TV anchors are paid a million dollars per year or more to read a few words on television a few minutes per day. It's because ratings are everything to a company that rents audiences to advertisers, and the research, as well as common experience, shows that local TV newscasts can attract audiences of greatly different sizes, depending on the anchor. One newscast may have several times as many viewers as another.

However, the anchor's influence, and, thus, his/her great bargaining power during salary negotiations, does not necessarily happen because s/he is greatly important to individual viewers. It's probably not quite the same as somebody's being willing to go to the trouble and expense of driving, parking, and paying several hundred dollars to watch Pavarotti or the Rolling Stones in concert. Many people really don't much care which TV station gives them the news, so the slightest thing can influence their choices before habit sets in, making the familiar the path of least resistance. In terms of averages, it might be a tie, until some slight thing tips the balance. In many cases, the anchor is that ever-so-slight influence that "tips over the needle."

So, what can we say about an American political system that seems to be almost exactly tied ideologically, culturally, at least, on many issues? Are we about to enter a new national stage in our history, such as was reflected in the elections of 1896 or 1932? We don't know either. Stay tuned, and take a couple of aspirin.

Score a few points for the shipping companies (Sunday, 10/13/02)
In the contest between West Coast shipping companies and longshoremen, the shipping companies appear to have the advantage at the moment. Here's more from Justin Pritchard in San Francisco.

Privatizing the military (Sunday, 10/13/02)
Leslie Wayne says that the U.S. is using modern-day mercenaries over much of the world, and probably couldn't carry out its missions without them.

Capitalists who are communists: Man bites dog news from China? (Sunday, 10/13/02)
What happens when you bring capitalists into the Chinese Communist Party and still want to call it "communist?" We'll probably see quite soon. In the meantime, while Marx continues to twirl in his grave following each new bit of news from Beijing, the Chinese government, whatever it chooses to call itself, is going to great lengths to point out who's still in charge. Those who benefit from a free market aren't, well, really FREE, for heaven's sake. "We didn't mean THAT." Here's more from Joseph Kahn of the New York Times.

Why so many people get so screwed up with their money (Sunday, 10/13/02)
As a general rule, human effectiveness depends on the extent to which a person is in high-quality contact with reality plus the extent to which s/he responds appropriately to that reality. No wonder, then, as Jeff Brown of the Philadelphia Inquirer reports, so many Americans end up shooting themselves in the foot, in effect, when it comes to personal finance. Columnist Brown has been attending a conference in Denver in which 150 experts have gotten together to explore ways of raising the national level of financial literacy.

Today's NewWork News Web Tip: PopNet (Sunday, 10/13/02)
PopNet offers access to global population information from a variety of sources and comes from the Population Reference Bureau.

CAW strike may come next week (Saturday, 10/12/02)
Talks between the Canadian Auto Workers and DaimlerChrysler appear to be stuck, so the union could walk out early next week.

Contract ratified at Southwest Airlines (Saturday, 10/12/02)
Mechanics at Southwest Airlines have approved a new four-year contract.

Government pension funds to hold more stock (Saturday, 10/12/02)
The South Korean government intends to allow more stock ownership by the National Pension Fund and others. Here's more from Seoul and the New York Times.

Some encouraging signs (Saturday, 10/12/02)
Much of the world's population remains extremely poor, but there are at least a few encouraging signs and possibly an encouraging trend in the fight against global poverty.

Stuck in the pipeline (Saturday, 10/12/02)
Older workers are staying on the job longer, which means less room for younger workers. Here's more from Stephanie Armour of USA Today.

Why recognizing an outsider is significant (Saturday, 10/12/02)
Daniel Kahneman shares the 2002 Nobel prize in economics, and the big news is that he isn't an economist.

Today's NewWork News Web Tip: The Older Foreign-Born Population in the United States: 2000 (Saturday, 10/12/02)
Here's a recent report on foreign-born older Americans form the U.S. Census Bureau based on a national random sample of 57,000 people.

Retail sales down (Friday, 10/11/02)
Consumer spending amounts to about two-thirds of the American economy, so no one is celebrating the 1.2 percent decline in September, as reported by the Commerce Department. Lucent Technologies has some additional bad news. The big telecommunications equipment manufacturer has had nine consecutive quarters of losses, so it's going to cut another 10,000 jobs.

Anxiety levels rise in Japan (Friday, 10/11/02)
The Japanese stock market seems to know only one direction, and that is causing renewed fears about the future of Japan's economy. It comes at a bad time, because, as Yuri Kageyama reports from Tokyo, the Japanese government finally seems about ready to do something about the country's debilitating bad debt problem.

Disagreement over whether dockworkers are operating in go-slow mode (Friday, 10/11/02)
The more than 10 thousand dockworkers who returned to their jobs following President Bush's invocation of the Taft-Hartley Act are either maintaining a normal work pace or they're not, depending on whom you ask. There are even conflicting reports from the Pacific maritime Association. On the one hand, Steve Sugerman of the Association is reported to have said that operations seemed to be adequate after the docks opened, while Paul Chavez reports that Mr. Sugerman seems dissatisfied with operations so far. Dan Whitcomb writes from Los Angeles that managers tend to believe that work is deliberately slow, but union leaders feel that they're just looking for an excuse to go back to court. Before long, data should be available on the average number of containers that are being unloaded compared to earlier averages. Brad Foss reports that many foreign shippers have been bypassing the West Coast ports in favor of ports either on the U.S. East Coast or in the Gulf of Mexico.

Meanwhile, union leaders are saying that White House intervention in the dispute will hurt Republicans in the upcoming midterm election. A new poll from the Philadelphia-based Pew organization finds that many Americans approve of the President's handling of terrorism issues, but, nonetheless, remain deeply concerned about the American economy. A costly war to disarm Saddam Hussein or remove him from power is likely to have major economic consequences, according to experts. Michael Theodoulou and Daniel McGrory of London's Times report that an increasingly painful boycott of American goods is already going on across Arab countries.

Gates Foundation fights infectious disease (Friday, 10/11/02)
Despite having lost more wealth recently than whoever is number two ever had in the first place, Bill Gates remains the richest businessman in the world, although even at his peak several years ago, he was nowhere nearly the richest in American history, if you make comparisons in dollars adjusted for inflation or in terms of percentage of the U.S. GDP.

However, he may differ from some--although not all--of the "robber barons" who made their fortunes during America's big industrialization push during the late 19th and early 20th centuries, in that he doesn't plan to die particularly rich. He has indicated numerous times than he doesn't believe in dumping great wealth on his children (although they'll probably never have to go on food stamps). He has said that he plans to give most of his money away, but that, given that he's still only in his 40s, it may be a bit premature to focus on that at the expense of simply doing more business. After the much "poorer" Ted Turner announced a few years ago that he was going to give away a billion dollars, Bill Gates was galvanized. He and his wife established the richest foundation almost overnight, in effect saying, "We'll raise you several billion."

Here's an interview with Billionaire Bill which deals with his foundation's efforts to provide immunizations to people around the world who really need them.

A boom in ethics training (Friday, 10/11/02)
A few highly-publicized executives recently have done for managers what Hannibal Lector has done for psychologists. Can something be done to prevent the creation of more of them? More rootin' tootin' lootin' executives, that is?

Dan Seligman of Forbes says that a big push to introduce ethics training has helped many biz schools and quite a number of professors with their careers, but whether it will prevent more Enrons is a harder question.

Incidentally, all the bad news doesn't involve managers. Three former union officials have been charged with conspiracy, but the trial still lies ahead. They have introduced innocent pleas.

Hard times for headhunters (Friday, 10/11/02)
The boom of the 1990s is long gone, and executive recruiters are among those who receive daily reminders in their work now that nearly everything is subject to tough negotiation.

More on the growing connection between economics and psychology (Friday, 10/11/02)
The latest Nobel Prize in economics has gotten Philadelphia Inquirer columnist Andrew Cassel to remembering his old psychology professor. Economics is about everything, he says.

It's getting harder to retire and also harder to last long enough to do it (Friday, 10/11/02)
Modern medical technology is capable of extending both life and the quality of life by "fine-tuning" various body systems when they begin to sputter because of age. That's if you have access to those services. Many of the world's people do not, of course. Beth Koblinger reports that it's getting harder for many people in the most privileged regions of the world too, such as in the United States. Fewer health plan choices are available and they are costing more money, she says. Elizabeth Harris says that preparing for retirement has gotten harder too, and more risky. But, then, a major portion of the world's people would not understand what you're talking about. "Retirement, what's that?"

Today's NewWork News Web Tip: The Terrorism Research Center (Friday, 10/11/02)
The Terrorism Research Center is an independent "think-tank" specializing in issues having to do with terrorism. It started in 1996, and, among other things, lists dozens of organizations which it says engage in actions which meet the FBI's definition of terrorism.

West Coast ports are open, but things will remain backed up for a while (Thursday, 10/10/02)
Danny Pollock reports from Los Angeles on the return of ten-thousand dockworkers to their jobs at 29 ports on the American West Coast, where they have begun clearing the backlog of hundreds of loaded ships waiting nearby. It will take quite a while, although not the entire eighty days that the President's use of the Taft-Hartley Act insures the ports will remain open, after which there is the possibility of their closing again. Dean Murphy writes that, while political authority has opened the ports for now, the dispute is far from settled.

Also, a new political dispute is likely to arise now because the Administration apparently consulted with business lobbyists but did not consult with representatives of the unions before taking action. While many union people, as well as many Democrats, wouldn't need something like this to convince them that the White House does not play a neutral role in labor-management conflicts, the whole thing has been a bit odd all along. The ports were not closed because of a strike, but because of a lockout implemented by the shippers. Then, rather than accepting a union offer to return to work for 30 days, the shippers favored the use of the Taft-Hartly Act to open the ports for 80 days. The lockout by the shippers is what closed the ports in the first place.

First-time jobless claims down last week (Thursday, 10/10/02)
It's the lowest level in two months, which can be taken as an encouraging sign, except that there are other less-encouraging indicators as well. Here's more from Jeannine Aversa in Washington.

Better days ahead for the tech sector? (Thursday, 10/10/02)
The tech wreck has been like a train wreck, except in slow motion. It may finally be nearing its end, according to a new report from AeA, or the American Electronics Association. Here's more on the slowdown of tech layoffs from the Washington Post. However, an Hewlett-Packard executive doesn't expect that a recovery of the tech sector necessarily will come next year. HP is the world's largest manufacturer of personal computers. If that comes as a surprise because you thought the largest was Dell, recall that HP recently merged with Compaq, and that merger is giving the new company a little extra flexibility in cutting costs during this rough period for technology.

Court orders Census Bureau to release numbers (Thursday, 10/10/02)
The 9th U.S. Circuit Court of Appeals says that the public is entitled to see adjusted figures from the 2000 census, and that could have important implications for how federal funds will be distributed to the poor, according to CNN.

Auto strike in Italy (Thursday, 10/10/02)
ABC News reports that workers at two Fiat plans strike briefly to protest job cuts.

Dispute arises over who has the right to vote (Thursday, 10/10/02)
A vote was held yesterday at a Houston-area Toyota dealership on whether mechanics will join the Machinists Union. However, the company has appealed to the National Labor Relations Board, and a decision on who should be allowed to vote may be months away.

Latest Laureates attempt to connect economics with psychology (Thursday, 10/10/02)
Economic activity arises from the behavior of large numbers of people, and psychology is the study of human behavior, so why hasn't there always been a close connection between the two fields? Basically, economics research and forecasting attempt to be extremely practical. Economic models focus on factors that can be measured and which provide the greatest explanatory or predictive power. That is, first things first, and, in fact, it may be sufficient to know what is likely to happen under a given set of conditions, and leave speculations about WHY it happens for later, particularly during a time when psychological research offered no more precise results than traditional economic research.

However, in recent years, in part because of the further development and sophistication of both disciplines, there have been an increasing number of fruitful efforts to connect the two fields. Daniel Altman reports that this is an important part of the reason that two economists have been awarded the 2002 Nobel Prize in economics. The fact that American psychology has been leading much of the world in recent years and the fact that the two new Laureates are Americans may not be entirely coincidental.

Today's NewWork News Web Tip: Recent Nobel Economics Prize Winners (Thursday, 10/10/02)
With the 2002 Nobel Laureates announced yesterday, you may interested in reviewing the winners of the prize over the past several years.

Court clears the way for application of Taft-Hartley Act (Wednesday, 10/9/02)
The 29 West Coast ports have been closed for ten days, but it may take more than two months to clear the backlog. However, with the President's invoking the 1947 Taft-Hartley Act with a federal judge's approval, the process will begin.

Martin Crutsinger analyzes the U.S. role in the world economy and how the port closures relate to it. Along these lines, many people in Japan have been looking toward the east during the past ten days with more than idle curiosity. Yuri Kageyama writes from Tokyo about Japan's dependence on exports, particularly during a time when it is struggling to lift its economy more securely out of recession. The fact that the U.S. economy has been generally frumpty lately causes Japan enough problems. Watching billions of dollars worth of its exports sit on ships off the U.S. West Coast waiting for American ports to open may have been aggravating some ulcers in the Japanese government during the past few days.

Two new Laureates in economics (Wednesday, 10/9/02)
Two Americans share the latest Nobel Prize in economics. Here's more from Matti Huuhtanen in Stockholm..

EU gets set to expand (Wednesday, 10/9/02)
The European Union is about to add ten countries, if Ireland doesn't prevent it. Here's more from Gareth Jones in Brussels.

O'Neill urges support for clean water (Wednesday, 10/9/02)
Millions of people in the world lack access to clean water, and those from privileged parts of the world who care and want to do something about it include the American Secretary of the Treasury. He is asking for help from all major sectors.

Airline workers demonstrate in Minnesota (Wednesday, 10/9/02)
Many people who work for Northwest Airlines are unhappy with new policy that will have them paying 20 percent of the cost of their health coverage. Hundreds demonstrated yesterday to let company officials know.

Another reason Greenspan said U.S. banks are okay (Wednesday, 10/9/02)
Those Americans who try to stay in touch with developments and events outside U.S. borders may know that the Japanese government finally seems ready to help that country's banks cut loose their huge bad loan burden so that the Japanese economy can move on. Fed Chairman Greenspan made a point the other day of saying that U.S. banks are in good shape, hoping, no doubt, that Americans would not begin to suspect that the U.S. economy might be catching Japan's decade-long flu. The timing may not have been coincidental. Riva Atlas reports that loan losses in the U.S. are up a third over last year.

Indian hi-tech industries benefit from outsourcing elsewhere (Wednesday, 10/9/02)
U.S. and European companies have been responding to budgetary pressures, in part, by shipping much of their software development work overseas, particularly to India, which is well-equipped to do the job.

Meanwhile, in the U.S., the recently-hot tech sector has cooled considerably, meaning that, rather than an abundance of tech jobs, there is now a shortage. So, as Michelle Kessler of USA Today reports, students are responding by choosing other fields. However, the tech slump is almost surely temporary, so we may be seeing a shortage of technically-trained workers again before too long, in part because there are fewer in the pipeline.

Too real and unreal at the same time (Wednesday, 10/9/02)
It what may be the human equivalent of cock fighting, a so-called "reality show" on Argentine television has had unemployed people competing with one another recently and has been attracting large audiences. Mary Sutter reports that syndicators are making plans to follow programs such as the original "Millionaire" show and do versions in many countries throughout the world. In recent years, American television has relied heavily on programs which present pathology, dysfunctionality, or character flaws as entertainment, so U.S. audiences may not notice a new one that exploits personal economic distress. It is said that Saddam Hussein likes to watch videos of people being tortured for entertainment, which seems different only by degree.

More people need to understand the "magic" of compounding, which really isn't magical at all, says personal finance expert (Wednesday, 10/9/02)
Many people don't believe they have enough or make enough to save for retirement, or they've been spooked by recent corporate scandals and stock market miseries. Author David Bach of Smart Couples Finish Rich believes that too few people are taking advantage of what can be a life-altering opportunity.

Today's NewWork News Web Tip: Center for Rural Affairs (Wednesday, 10/9/02)
The Center for Rural Affairs says that it is dedicated to the well-being of rural America, and, among other things, publishes a monthly newsletter.

Bush may invoke Taft-Hartley in port dispute (Tuesday, 10/8/02)
Not since Jimmy Carter has a president attempted to end a work stoppage under the Taft-Hartley Act, but that may be about to happen in the West Coast dispute that has resulted in the closure of 29 ports, now in its second week. Here's more from Stephen Greenhouse of the New York Times.

A new poll conducted by the Time and CBS News finds that a strong majority of Americans think that the government is giving too much of its attention to Iraq while the American economy continues to deteriorate. It's a view apparently not shared by the Treasury Secretary, who told an audience in Phoenix yesterday that there are strong signs of improvement, and Fed Chairman Greenspan has been trying to say positive things too. For instance, he believes that U.S. banks are doing well.

But, whatever the realities, it is public perceptions that drive politicians, particularly less than a month before a major election. Voters often are greatly influenced by their view of how the economy is doing and how much their personal situations may be threatened. Ordinarily, in midterm elections, the influence of the President isn't too great, but it isn't clear whether this year's election will be an exception. A CNN-USA Today poll suggests that the Iraq question could be the wildcard this time.

With an almost even split, control of either house of Congress could easily go either way, and it might not take much to tip the balance, just as a pin balancing on its tip can be pushed in any direction by the slightest force. Several Senate races are extremely close, for instance, and any one of them could make the difference. Democratic Party leaders felt that they would almost surely lose the New Jersey seat with Robert Torricelli as their candidate, so they managed to put in a pinch hitter and got it by a Supreme Court that didn't want to touch the hot stove again. A Democratic win in New Jersey still isn't assured, but now they feel they may have a chance.

Incidentally, the California gubernatorial race involves two very unpopular candidates. Are the Republicans thinking that they might follow the Democrats' lead and replace Mr. Simon with somebody stronger? We don't know either. Probably not, but it's a thought.

Striking miners shot (Tuesday, 10/8/02)
Two South African gold miners were shot and killed by security guards and another 14 were injured. Meanwhile, the International Labor Organization, an agency of the UN, reports on the loss of mining jobs during the past five years worldwide. Here's more from Erica Bulman in Geneva.

Schroeder pushes ahead on economic reforms (Tuesday, 10/8/02)
Recently re-elected German Chancellor Gerhard Schroeder has appointed Wolfgang Clement as "superminister" in charge of getting the German economy back up to speed.

Strike deadline set (Tuesday, 10/8/02)
As expected, the Canadian Auto Workers yesterday set October 15 as their strike deadline in the union's dispute with DaimlerChrysler in Canada.

Tamed tigers (Tuesday, 10/8/02)
Delegates attending a three-day economic summit seem to agree that China's the only economy in the region that's really in good shape, according to Jonathan Kent of the BBC. However, Japan's finance minister says things are looking better for his country's long-troubled economy. In other news from Japan, 17 workers have been awarded $1.87 million because of illness brought on by exposure to asbestos while working on American ships.

Today's NewWork News Web Tip: Slaves and the Courts (Tuesday, 10/8/02)
Here are more than a hundred documents from the Library of Congress on court cases involving slaves between 1740 and 1860.

Talks break down on the West Coast (Monday, 10/7/02)
People who have been waiting for the ports to open will have to wait a little longer. Simon Avery reports from Los Angeles that talks between dock workers and shippers have broken off. Twenty-nine ports along the coast are in their second week of idleness, and at least 200 ships are waiting to be unloaded and, then, loaded up again. They won't need to bother with some of the cargo, because the perishable items are going bad fast.

Businesses that depend on imports or exports have been trying to persuade the Administration to step in and open things up, but the White House has been reluctant to do so for a variety of reasons, not the least of which is likely to be the typical reluctance of politicians to do anything that could alienate anybody just before a major election. Still, Republican candidates aren't likely to benefit from anything that calls more attention to a suffering economy during a time that polls are showing that more voters seem to be worried about economic issues than about a war with Iraq.

The President is thinking about creating a board of inquiry to study the matter. This is a way of appearing to be doing something without really doing anything for a while. Even if the board were convened, it would still just study the matter, and, so far, the President is just thinking about possibly convening it, hoping also, no doubt, that the problem will solve itself before he has to get involved. Meanwhile, he's probably also hoping that somebody in Iraq will put a bomb under Saddam Hussein's end of the conference table.

More fallout from the telecommunications depression (Monday, 10/7/02)
Telecommunications is one of the tech sectors that's been suffering greatly from the tech wreck, in large part because of a general economic slowdown and the expectation, because of over-building, that supply will exceed demand for the foreseeable future. Workers are affected, investors are affected, and companies like J. P. Morgan Chase are affected. They're planning to cut as many as 4,000 jobs. It seems possible to do nearly anything with hi-tech, except maybe make a living from it right now. Shirleen Hold writes about tech experts who are taking whatever jobs they can get, even in very low-tech industries.

Another American export (Monday, 10/7/02)
We've reported numerous times on how peoples from around the world are attracted to Canada, because, among the world's countries, it's richer than most, freer than most, and generally calmer and less hassled than the United States. Some things are less expensive too. Steve Giegerich tells why a growing number of young people are choosing to attend Canadian colleges and universities. The cost is lower, but the academic standards aren't.

Rank-and-file to lose either way (Monday, 10/7/02)
The National Association of Stock Plan Professionals has been meeting in Las Vegas. These are the people who design and administer corporate pay plans, and we probably shouldn't read too much into the fact that they're getting together in the world's gambling capital. At any rate, members acknowledge that they should accept some of the responsibility for excessive executive pay, which has resulted in losses to the rank-and-file. However, they expect that a lot of the same people also are going to lose out after reforms are inflicted, er, introduced. Let us be the first to wish you a Merry Christmas.

You wanna WHAT? (Monday, 10/7/02)
Barbara Stanny has written a book called Secrets of Six-Figure Women in which she argues that anybody should be able to make more money than they're making, and that you shouldn't assume you can't get a raise just because the American economy is stinking up the world at the moment. She's likely to be able to tell us quite a bit about how you can make money from writing a book too.

Today's NewWork News Web Tip: America's Best Colleges 2003 (Monday, 10/7/02)
Each year, somebody at US News magazine decides which are the best American colleges. The rankings are taken seriously by a lot of people, including students, their parents, employers, and, as a result, the colleges themselves. Here's this year's list of America's Best Colleges from US News.

Incidentally, while many of society's more outstanding people have graduated from one college or another, would all this work if it had nothing to do with knowledge and if there weren't any differences among the colleges?

Yes, if everybody who is involved believed it. "Social construction" always plays a major role in determining the subjective realities of most people most of the time, and America's preoccupation with status symbols is not an exception. Along these lines, you might want to take a look at our news brief headlined "Calls for a remodeling of higher education" dated Wednesday, 10/2/02.

Bush says that the port shutdown will hurt the American economy (Sunday, 10/6/02)
The President has said that the two sides should get together and settle their dispute, which is something that may already have occurred to the people directly involved, actually. Nonetheless, the Administration is becoming increasingly concerned, but is reluctant to step in and force an opening of the ports. If things drag on, that possibility can't be ruled out, though.

Would a war with Iraq be good business? (Sunday, 10/6/02)
It's widely understood that it was World War II, not the Roosevelt administration's huge government programs, that pulled the U.S. out of the Great Depression. But, do wars always stimulate a nation's economy, so long as things aren't blowing up and being destroyed at home? No, not always.

For instance, top executives meeting at White Sulphur Springs, West Virginia seem to agree that the American economy is likely to grow more slowly over the months ahead than we've been used to during the fairly recent past, although they don't expect it to slip back into recession. That is, unless something else happens to give it a nudge--a major war with Iraq, for instance. Meanwhile, Asian leaders meeting in Kuala Lumpur, Malaysia have some of the same worries about the effect that an attack on Iraq might have on the global economy.

Incidentally, it's probably more accurate to speak of a possible escalation of war with Iraq than "going to war," because Gulf War hostilities never entirely have stopped, even though most of the hundreds of thousands of Americans who went to the Gulf more than a decade ago have been back home for a long time. For instance, American forces almost constantly are involved in military action over Iraq in order to enforce the "no-fly zones."

Hey!--Remember the economy? (Sunday, 10/6/02)
The CIA has an expression that is summed up as "AOS," which means "All options stink." Currently, the U.S. and whatever allies it can attract can either attack Iraq in order to take Saddam Hussein out of power, accepting the possibly catastrophic risks of doing that, or it can wait--possibly too long, but nobody really knows how long that would be--and accept the possibly catastrophic risks of doing that. As we've said repeatedly, it's fairly easy to think of a solution to PART of a problem, so, if you want to imagine living in a simpler world, you can choose which of the risks you want to avoid and ignore the others...for awhile.

For the next month, the whole mess will be complicated by the fact that an important midterm election that will determine which major party will control Congress for the next two years, and possibly determine the direction of both domestic and foreign policy for a while. The issues, both foreign and domestic, are extremely serious, and smart people in both parties recognize that. At the same time, the Republicans have a vested political interest in focusing public attention on the perils of terrorism and Saddam, while the Democrats have a vested political interest in changing the subject with the hope that voters will spend more time thinking about the deteriorating U.S. economy between now and election day. Both parties want you to believe that there is an emergency that requires immediate action, but the truth is that the American economy isn't going to collapse before early November, and there is no way that the U.S. could mobilize for a major military operation in Iraq by then either. There is time to exhale.

At any rate, Representative Julia Carson gave the Democrats' radio speech yesterday, and, as one might expect, urged that more attention be given to the economy. She said that the Administration should give more attention to it, but she and others in her party really want voters to give more attention to it.

Incidentally, at issue are a relatively few votes in a few key states, because, in a close contest, these are likely to determine the balance of power in the Congress. Judging from the campaign commercials on television, you might think that the only issue of importance is who wants to "privatize Social Security." That's because party analysts have concluded that the whole thing may hinge on how a relatively few OLDER people in these key states decide to vote, and older people DO tend to vote. The few can affect the many, just as a West Coast dispute over a few hundred jobs has closed 29 ports and is influencing the entire American economy.

What is the market telling us? (Sunday, 10/6/02)
David Leonhardt of the New York Times thinks that the stock market is telling us about the future of the American economy, and it might not be a pretty picture. Meanwhile, James Glassman of the Washington Post doesn't entirely disagree, but thinks it figures. The market is still in the process of getting real or sobering up after the excesses of the late 1990s. A Dow of about 5000 might be about what we should expect, given underlying values in the economy.

What is a share of corporate stock, really? It means you own part of the company, but what is the company worth? In the long-run, its value is determined by its ability to produce earnings, and earnings have been weak lately and this weakness may continue on into the future for a while.

Why is a lot of North Dakota farmland worth less per acre now than thirty years ago? It's because, despite the ability to produce bountiful crops, each acre of land has become far less capable of producing profits. In fact, some land in the Midwest and West can't produce profits at all anymore, so it's been taken out of production and turned back to nature. Accordingly, it wouldn't sell for much at this point. If you can't make any money from it, it's probably not worth owning, unless you have other reasons, recreational, aesthetic, or otherwise. Same with stocks, except the fundamentals can be obscured by the abstractions. Farmland is something you can pick up and squish through your fingers. It's really not rocket science.

Discounts begin to disappear (Sunday, 10/6/02)
Drug companies are beginning to back off promised discounts on prescription medications for low-income elderly people. Melody Petersen has the reasons why.

Rental company discrimination suit settled (Sunday, 10/6/02)
Rent-A-Center Inc. will pay $47 million to thousands of women who have claimed that they have been victims of employment discrimination.

In San Miguel de Allende, you have one chance in ten of running into an American (Sunday, 10/6/02)
Jenalia Moreno explains what has been drawing so many American retirees to Mexico.

American-born hi-tech executives could study English as a second language, and they're not the only ones (Sunday, 10/6/02)
When you get the word that you've been fired, it may not be immediately clear just what has happened. Euphemisms have become so convoluted, they may not even make you feel better because it's getting harder to understand what is being said. A Rutgers University professor has been studying the problem and has written a new book about it called The New Doublespeak: Why No One Knows What Anyone's Saying Anymore.

Today's NewWork News Web Tip: Strike Page (Sunday, 10/6/02)
The Great Speckled Bird, which says it is working toward the establishment of a formal "Liberal Party of the United States," has collaborated with LaborNet on their Strike Page, which is intended to keep track of strikes. We don't know how accurate or complete the list is.

Japanese PM declares a state of emergency (Saturday, 10/5/02)
Japan's Prime Minister apparently disagrees with his recently deposed finance minister about whether there is a crisis in the Japanese banking system and whether it is a principal root cause of Japan's overall economic crisis. There's no time to lose in fixing things, according to the PM. Here's more from Tokyo's Mainichi Daily News.

Talks continue this weekend on the American West Coast (Saturday, 10/5/02)
Many hope they will result in an opening of west coast ports. Much of Asian business across several countries is watching and worrying, and executives are saying that many factories in the United States will have to close for a while, even if the 29 affected ports were to open right away. Alaska isn't affected by the lockout, though, so some shipments are moving in and out there. Also, air-cargo capacities are strained and rates have gone up in response to the increased demand.

Expect CAW's strike deadline to be announced on Monday (Saturday, 10/5/02)
DaimlerChrysler AG and the Canadian Auto Workers are trying to avoid a strike, but the union leaders are angry because of what they regard as an unfulfilled promise. October 15 is likely to be the union's strike deadline, but we won't know until tomorrow's announcement. The CAW worked out a job-creation plan with Ford, but that can't be duplicated at DaimlerChrysler, according to CAW president Buzz Hargrove.

Business leaders worry that the golden goose could end up in a straight-jacket (Saturday, 10/5/02)
If you've got only a few rogue geese in the farmyard, do you really want to tie all the others up? Brian Kelleher writes from White Sulphur Springs, West Virginia where executives are meeting and discussing--surprise--corporate scandals, as well as governmental responses to them. Most executives are unhappy with the misdeeds of the few who have dominated the front pages recently, because, like miscreant Catholic priests, or members of any profession who go bad now and then, it makes it far more difficult for all the others to do their jobs.

However, it's probably not a good idea to use a sledge hammer to kill a fly on your glass coffee table either. It's very easy for government to over-react, particularly during an election year with an important presidential election following in only two years. An over-regulated or brutish response can be politically popular when so many people are frustrated and angry and ready to believe that all of society's problems will be solved if we simply get more "tough on crime."

Tough is okay, sometimes, but smart can be even better. If you have a tumor, you probably don't want your surgeon to stomp into the operating room, scalpel in hand, yelling, "Ok, by god, I'll get ya, you miserable little bastard!" Most of us don't want our doctors to simply get mad. Instead, we want for them to be VERY cool, VERY smart, VERY up-to-date, VERY, VERY rational. It may not be widely recognized, but the fact is that social and political problems are at least as complex as medical problems and require at least as much cool, up-to-date informed, grownup, intelligent analysis and action.
During a time like the present, politicians can win elections by talking and voting tough. Also, people who work in the law can gain more recognition and are more likely to be promoted by engaging in highly visible, heavy-handed actions, whether or not they are justified or even counterproductive overall. Genuine justice can easily fly out the window if a prominent or famous wrong-doer is treated more harshly simply because s/he is prominent or famous and tends to attract great attention. That does not amount to "equal justice under the law" either. Anybody with institutional power who reflexively believes that harsher is always better probably should call his/her psychiatrist. That's too easy and not nearly smart enough.

Because of the unprecedented knowledge explosion during the latest moments of history, institutions, which tend to lag anyway, because they accumulate from past experience, have fallen even further behind. Much of the criminal law, for instance, is rooted in the information base of our remote ancestors during a time when even the smartest people didn't know that the blood circulates or what the heart is for and everybody believed that the sun revolves around the earth.

Even the most commonly-used vocabulary has become increasingly antiquated. Concepts such as "excuse" or "blame" work in some contexts, but they're inadequate overall, given current knowledge of how the world works. They come from a time when most people believed that each leaf that falls from a tree has its own unique little spirit to let it down easily. It's like trying to use only the concepts of classical physics as developed by people like Galileo or Newton to explain all that we now know about modern physics. They're simply not good enough. Okay in some limited contexts, but inadequate in many others.

Since it's possible to become a lawyer in less time than many researchers spend on a single research project, we think it would be a good idea to add a year to legal education that emphasizes context. It would make for far better informed, more effective prosecutors, defense lawyers, and judges, as well as big-time politicians, because many of them are lawyers too. It's okay for people in these key positions to know things that the general public doesn't, even in a popular democracy.

Jury rules against flight attendant (Saturday, 10/5/02)
A long-time flight attendant for US Airways blames her chronic sinusitis on exposure to smoke on the job, but a jury was not convinced and declined to award damages.

"B" stands for "biotech" and also for "business" in San Diego (Saturday, 10/5/02)
Robert Sullivan, head of the Kenan-Flagler Business School at the University of North Carolina has been recruited to build standing for the University of California at San Diego's biz school in what is becoming an increasingly important biotechnology center. Here are excerpts from a conversation with Dean Sullivan conducted by Business Week.

Today's NewWork News Web Tip: Regional Economic Conditions (Saturday, 10/5/02)
If you're interested in an overview of economic conditions as well as levels of risk for financial institutions, the Federal Deposit Insurance Corporation's Regional Economic Conditions site offers information and opportunities for analysis for the entire country at state, Metropolitan Statistical Area, and county levels.

Mixed signals (Friday, 10/4/02)
According to the latest data, payrolls are down, but so is unemployment, and Wall Street is surprised. USA Today says that the dip in unemployment probably means that the Fed won't rush to cut interest rates again as had been expected.

A lockout ends (Friday, 10/4/02)
No, this is not the big one that has closed so many ports all along the American West Coast. This one's in Texas where workers have been locked out at Sterling Chemical for 16 weeks. They've agreed to accept the company's offer.

Meanwhile, on the west coast, 29 ports remain closed, and manufacturers, who can't move their merchandise in or out, are hoping for help from the Administration. The disputants agreed to federal mediation earlier in the week.

What? There's something strange going on in North Korea? Really? (Friday, 10/4/02)
A description of the North Korean government could provide a dictionary definition of the term "weird" under most circumstances. Now, even the goofier people who believe they're in charge are beginning to realize that it's either become part of the world or start waving good-bye. They've decided to establish a capitalist enclave with the hope of capturing lightning in a bottle as China has done with Hong Kong and even Shanghai. It shouldn't be surprising that things got bizarre before getting more bizarre. With North Korea, its usually bizarre, bizarre-er, and bizarre-ist, while all the time, the people suffer and suffer and suffer. Here's more from John Ruwitch in Shenyang, China.

Hangup on terrorism insurance continues (Friday, 10/4/02)
Senate Democrats and the President seem to agree about the importance of terrorism insurance to the economy, but the devil's in the details, as they say. Here's more from the Washington Post about the details bedeviling people on both sides who are trying to reach agreement.

Immigrants swept aside at airport security points (Friday, 10/4/02)
The Transportation Security Administration is taking over responsibility for airport security and is bringing in federal employees trained for the job. Problem is for many people presently in those positions, the new TSA screeners must be American citizens. Meanwhile, tech employees continue watch their jobs evaporate. EMC, a long-time data storage firm, will cut about 1,350 jobs.

Congressman learns how little concern there is for the "dead peasant" issue (Friday, 10/4/02)
There's no law against condescending, dehumanizing attitudes, and there doesn't appear to be a shortage of them in major business either. Companies routinely take out life insurance policies on their workers, making themselves the beneficiaries, and these are commonly referred to as "dead peasant policies." Hollywood studios have insured valuable movie stars too, and corporations often insure top executives in order to protect themselves against loss, so the practice is not without precedent.

What makes the issue of so-called "dead peasant" policies stick in many people's throats may be the apparent attitude behind the name. It seems to represent the opposite of good internal PR and a healthy, supportive work climate in which human resources are not only valued, but also respected. It might not be good for morale or in the enlightened self-interest of employers if the practice were commonly known among workers. That is, the companies have an interest it keeping the practice as quiet as possible.

Columnist L. M. Sixel writes that Congressman Gene Green felt that, at the very least, workers should be told when policies have been taken out on their lives. Not too many of his colleagues in the House seemed to agree, however. Here's more on a bill that went nowhere but to oblivion.

Of course, in all fairness, depending on one's ideology, it's possible to be disgusted by the "dead peasant" label and still oppose any further regulation of business that would hamper the freedom of choice that makes a market economy work efficiently so that it can build living standards. Jenalia Moreno writes from Mexico City on the kind of debilitating bureaucratization which many Republicans and others in the United States are trying to avoid. Even the tiniest hole in a dike can result in the whole thing's being swept away eventually, and many believe that government, like some sort of malignancy, tends to grow by devouring everything in its path, unless actively resisted.

Finalist for fiction writing award? (Friday, 10/4/02)
Kenneth Lonchar has been chief financial officer at Veritas Software, which, in this case, turns out to have a slightly ironic company name. Lonchar is losing his job because, as it turned out, he was a bit too creative when he wrote his resume. He claimed to hold an earned MBA from Stanford, but only in his dreams. He contrasts greatly with some other persons who, if accused of having attended graduate school, might choose to deny it, even if they did.

Today's NewWork News Web Tip: Quarterly Employment Forecasts (Friday, 10/4/02)
Here are Quarterly Employment Forecasts for Canada, the United Kingdom, and the United States from Manpower, Inc.

Services sector improves (Thursday, 10/3/02)
The services and manufacturing sectors have been moving in opposite directions, but the ailing U.S. economy can use all the help it can get. Here's more on expanded activity in services.

Gore urges Bush to rearrange his priorities (Thursday, 10/3/02)
The former Vice President, who may have played a recent role in getting skittish campaign-sensitive members of Congress to speak their minds a bit more on the Administration's plans for Iraq, has made another speech in which he said that the White House should give as much attention to the fumbling U.S. economy as to escalating its war against Saddam Hussein. Jeff Madrick of the New York Times agrees that the Administration's economic policy needs some work.

However, even if it were within the power of the President to do so, the last thing Democrats would like to see is the Administration totally fix the U.S. economy before election day. Gore really isn't asking the Bush White House to change its ways, but, instead, is doing his part to call the attention of voters to what the Administration hasn't done and hope it will rub off on Republican candidates in key Congressional races. The polls are showing that many Americans are more worried about their jobs than about war or terrorism right now. Control of both houses of Congress is at issue in the election in a few weeks, and it is looking soooooo close, particularly now that the Senate race in New Jersey has been tossed into the air.

Incidentally, our spelling checker doesn't recognize the word "Saddam," and asks if we really mean "sadism."

Is it a tide or a ripple? (Thursday, 10/3/02)
Gene Koretz of Business Week says that it may be a mistake to dismiss the recent drop in the unemployment rate as simply a "blip." Maybe we really are seeing the beginning of long-term improvement in the U.S. job market. But...whoops...first-time jobless claims were up last week, and the 1,600 flight attendants that Northwest Airlines will ask to disembark haven't even had a chance to be counted yet. Meanwhile, in Germany, Deutsche Telekom will try to apply a tourniquet to stop the financial bleeding by cuting almost 30,000 jobs.

Demonstrators oppose privatization in Paris (Thursday, 10/3/02)
Public workers demonstrate today in Paris to protest government plans to sell state owned companies.

Teamsters say they've cleaned up their act (Thursday, 10/3/02)
The long-troubled Teamsters says that things have changed, that the union no longer suffers from corruption and mob influence. They've commissioned a study to prove it. Overall, of course, mob influence has declined in American society, in large part because of vigorous use of the RICO statute in prosecuting organized crime's biggies. At this point, not many are left standing.

An indirect way of mentioning the unmentionable (Thursday, 10/3/02)
A former Princeton economics professor has been talking quite a lot about the possibility of the Fed's changing its policy and adopting a numerical target for inflation, which might not seem to be about Chairman Greenspan and what to do once he's moved on, but it is. Alan Greenspan has been Chairman of the Federal Reserve for 16 years and was already 60 years old when he took on the job.

If you're a stockholder, what should you be willing to pay for a CEO? (Thursday, 10/3/02)
Much of the argument recently has been over whether stock options should be expensed, or about the methods used in rewarding top executives. The traditional free-market position is that something (or someone) is worth what somebody is willing to pay for it, and people should be free to pay whatever they like, even if somebody else thinks it's too much--assuming that nobody is cheating and that stockholders, for instance, really are providing their informed consent.

However, another view is that it is legitimate to limit freedom somehow when it comes to paying top corporate management; i.e., that there is such a thing as "too much," even if everything is on the up and up. This argument more typically comes from the politico-economic left. However, at least one very famous, very influential executive believes that many CEOS have been paid too much recently.

His name is Andy Grove, best known for his skillful guidance of Intel to the very top ranks of corporations of historic, global importance. He may or may not be right about this particular issue, but there is good reason to believe that he's one of the smartest, wisest men in North America, and, while it's possible that he could be fooling everybody, there's also reason to believe that he's one of the world's most ethical senior executives as well.

Mr. Grove came to the U.S. as a penniless immigrant after living under both Nazism and Communism in Europe. He's played a key role, not only in the development of Intel Corporation, but also in the development of the microprocessor itself, the "engine" of the modern computer revolution.

Finding heaven in Manitoba and beyond (Thursday, 10/3/02)
Canada wants more immigrants, particularly in isolated regions outside the major cities. They're trying to make life in rural areas extremely attractive to people who have not been accustomed to Canada's freedoms and overall quality of life. It isn't hard. To make it attractive to many immigrants, that is.

At risk teens (Thursday, 10/3/02)
In this case, the risks are found in settings in which American teens work. A General Accounting Office study concludes that the U.S. Department of Labor needs to do a better job of enforcing child labor laws in order to protect teens who are at high risk of injury or death on the job.

Rough times for some professionals (Thursday, 10/3/02)
Suddenly, demand for lawyers has slackened considerably, and many law practices have even shut down, according to Edward Iwata of USA Today. Meanwhile, the Supreme Court has decided to decide a case that could determine whether many small medical clinics will come under the jurisdiction of federal discrimination laws covering businesses with 15 or more employees. It will hang on whether doctors who own shares in small clinics can be counted as "employees."

An effort to study the Internet's social consequences (Thursday, 10/3/02)
It appears that the Internet is altering societies in a variety of ways, but, specifically, how? The Oxford Internet Institute is being established in order to try to answer those sorts of questions. Here's more from the BBC.

Today's NewWork News Web Tip: CDC Traveler's Health (Thursday, 10/3/02)
The Centers for Disease Control's Traveler's Health site offers information relating to specific destinations around the world, as well as general advice on how to remain healthy while traveling.

Bush urges settlement at West Coast ports (Wednesday, 10/2/02)
The President is afraid that idled longshoremen will result in harm to the U.S. economy, but hasn't indicated whether the Administration will step in to insure that the increasing accumulation of waiting ships will be unloaded. Steven Greenhouse of the New York Times says that the standoff that has closed 29 ports on the American West Coast is an argument over only several hundred jobs but with a potential to influence the entire American economy, although many economists are saying that there won't be lasting effects.

The U.S. economy doesn't need any more problems, though, given that is seems to be losing more momentum. Here's more about that from Brad Foss in New York, who also reports on the sluggish manufacturing sector which will be key to a vigorous recovery whenever it comes. Ross Finley has more about that, as well as news of slowing auto sales as well.

Winnick denies accusations, offers money (Wednesday, 10/2/02)
The Chairman of bankrupt Global Crossing claimed yesterday that his sale of $123 million worth of stock was not based on inside information. He also said that he and his family will provide $25 million to help the company's workers who lost money in the company retirement program. Also, a court has decided that the company can distribute $36 million in severance payments to laid off workers. Altogether, it falls far short of employee losses, though.

Global action promised (Wednesday, 10/2/02)
After meeting last weekend in Washington, D. C., the world's financial leaders have vowed to take action to support the tentative global recovery as well as help poor nations, although the Washington Post's Paul Blustein suggests that it might be nice if they really knew what to do. Jonathan Finer writes that the world's really poor nations have little bargaining power and little alternative to going along with whatever the IMF and World Bank decide. He offers Bangladesh as an example.

Homeland Security legislation held up in the Senate (Wednesday, 10/2/02)
For a time, it looked as thought he Homeland Security Department would appear almost instantly, but labor issues have held up passage of the bill in the U.S. Senate. The argument seems to be a familiar one about the relative power of management vs. labor. The Republican administration wants greater hiring and firing flexibility in the interest of national security, as the President has said, while Democrats in the Senate see it as an effort to deny government employees the Civil Service and union protections to which they have become accustomed.

Calls for a remodeling of higher education (Wednesday, 10/2/02)
Mark Clayton offers the Indianapolis campus of Indiana University-Purdue University as an example of what is being done as part of an effort to revitalize higher education in the United States and make degrees mean what they're presumably supposed to mean. We suggest more: a zero-based rethinking of the whole thing from the ground up, given the radically changed context in which people are living and working.

Historically, we've tended greatly to exaggerate differences among groups, however defined--e.g., by ethnicity, gender, age, disability, etc.--while greatly underestimating differences among individuals. Individual human beings vary enormously on a tremendous number of dimensions. That each of us is unique is not just a platitude; it is a fact, and one that's often overlooked or its significance minimized.

The fairly recent historical invention of liberal democracy constituted a major advance for humanity, because it made possible the creation of social contexts in which we no longer have to pretend that we're more alike than we really are. Now, technology also is giving us the means to address individuality to an extent not dreamed possible until very recently.

One of the defining characteristics of the new economy is the proliferation of choices. For instance, in media the "one-to-many" model of mass communication has been replaced by a "many-to-many" model. During the 1950s in parts of the U.S., there were only two choices if you wanted to watch television during the evening hours: you could watch what was on CBS-TV or what was on NBC-TV. Radio also programmed for "mass audiences." Now, there are hundreds of television channels and a highly fragmented media universe overall in which highly specialized tastes are accommodated. Audience members no longer have to pretend that they are more alike than they really are. "Broadcasting" has become "narrow-casting."

Similarly, the "one-size-fits-all" consumer economy is long gone. "Mass marketing" has gone wherever "mass communication" has gone. Hi-tech has made it possible to define market segments more and more narrowly, so that whatever your tastes and however idiosyncratic they may be, you're quite likely to find what you want in the retail stores. Moreover, if you'd prefer to shop elsewhere, such as online or in catalogs, there are far more of those alternatives available now as well.

The academic culture contains some of the last decaying remnants of traditional European aristocratic attitudes and expectations: "If I can somehow obtain the right title, I should have it made." Americans remain far too preoccupied with WHETHER one has undergone a "laying on of hands" and "has" a degree (Is it like "having" malaria?), WHAT degree it is, and WHICH school printed the diploma, all of which seem to involve being distracted by the wrong questions in a context in which the means by which individuals can foster their development are proliferating rapidly. In fact, the destination is far more important than the route traveled, and individuals can acquire education for work, for living, and for citizenship in an increasing variety of ways.

Just as the recent corporate scandals have made it seem a little tacky when rich executives brag about how much money they can waste, we can start by encouraging young people and their families to feel that it's "uncool" to brag about their degrees, what schools they went to, or how much it cost them.

It might not be good for people on campuses whose jobs depend on a commitment to traditional ways of doing things, or for those whose identities or employment prospects have been dependent on their "degrees," rather than on their genuine competencies or the extent to which the best that this and other civilizations have to offer is personally accessible to them. Nonetheless, it might be time to shift attention away from symbols in favor of substance.

Two questions seem to be of significance: "Do I really know anything, and can I really do anything?" If the answer to those questions is "yes," there aren't any other important questions. If the answer is "no," there aren't any other important questions either.

Today's NewWork News Web Tip: Largest U.S. Charities (Wednesday, 10/2/02)
Here are the 50 largest charities in the United States ranked by total income as compiled by the Christian Science Monitor.

They're talking, but not unloading (Tuesday, 10/1/02)
Even though investors have been unloading stocks, workers have not been unloading ships at West Coast ports where they're locked out until a new contract deal is made, say their employers. Talks have resumed, but there doesn't appear to have been much progress in settling the dispute that now threatens the U.S. economy with further damage at a very bad time.

Investors have been sufficiently pessimistic so far about the economy's well-being that the Dow has descended to its lowest point in four years and had its worst quarter in fifteen years. In addition to the clogged West Coast ports, a full-scale war with Iraq could cost $9 billion per month, according to budget experts in the Congress. All this together could mean even lower stock prices, which, among other things, would further damage the retirement resources of more people who are likely to come out of retirement and compete for increasingly scarce jobs, which would increase the unemployment rate, which would further diminish consumer confidence and spending, and so on and so on.

Agreement in Canada (Tuesday, 10/1/02)
Ford Motor Company and the Canadian Auto Workers have reached tentative agreement on a new three-year contract. Here's more from John Porretto. Meanwhile, physicians decide to strike in Newfoundland, and janitors strike in the Boston area.

News of a Japanese recovery was premature, but... (Tuesday, 10/1/02)
The Japanese economy has been growing again, a little, but it may be too fragile to last without a major boost that has been a long time coming. Aggressive change may be in the air, though, according to the Washington Post. Here's news from Tokyo's Asahi Shimbun about Prime Minister Koizumi's cabinet shakeup.

Fed official wanted even lower rates (Tuesday, 10/1/02)
Robert McTeer, who is president of the Federal Reserve Bank of Dallas, wanted the Fed to lower interest rates again last week, but he was overruled. McTeer believes that faster economic growth is so important that the Federal Reserve should do whatever it can to bring it about, even though many business economists disagree that lower rates are required or that they would necessarily be helpful at this point. Mr. McTeer also believes that the low rate of inflation will get lower, and he doesn't know at what point we should start worrying about a real possibility of deflation, which can be equally damaging to an economy.

The recession produced more uninsured (Tuesday, 10/1/02)
As people lost their jobs, they also lost their health benefits. An additional 1.4 million Americans were without health coverage last year. Here's more from Julie Appleby of USA Today. Slow growth or no growth or "negative growth," to put it euphemistically, tends to change a lot of things. For instance, even though the real estate market has been hot because of low interest rates, foreclosures are running high too. Meanwhile, many people who are having trouble finding jobs think this is a good time to stay in school or go back to school, which means that colleges, by and large, are NOT in recession. Enrollments are booming throughout the country. Many of the people who do have jobs and do a lot of business travel are finding that tightened budgets mean that their hotel rooms and suites often double as conference or meeting spaces.

Incidentally, precisely when did the latest recession end? Analysts at the National Bureau of Economic Research have been working on that question, and the answer isn't as simple as it may appear. Moreover, NBER researchers, and a lot of other people, are wondering if the U.S. dipped into negative territory again in September. Stay tuned.

The Russian military is having difficulty keeping people in the service (Tuesday, 10/1/02)
What once was the proud Red Army has fallen on very hard times in recent years. For several years after the breakup of the old Soviet Union, Russian military personnel weren't being paid for months on end, and there were other problems as well. The government announced a major reform effort about a year ago, but that seems to be unraveling. Now, it appears that tens of thousands of personnel may be deserting.

Buzzword glossary (Tuesday, 10/1/02)
Financial experts sometimes speak genuine English, but not necessarily in public or on television. Jennifer Bott of the Detroit Free Press offers some help in translating some of the words that are tossed around when experts talk about money.

Today's NewWork News Web Tip: BBB Wise Giving Alliance (Tuesday, 10/1/02)
Operating expenses eat up a major portion of the funds contributed to some charities, and, of those expenses, you may be disappointed to find that much goes for labor costs. In other words, somebody is collecting money from well-meaning contributors in order to provide themselves with a living. The extreme examples are the non-profit--that is, tax-exempt--versions of those infamous corporate cases we've heard so much about lately in which unscrupulous executives essentially loot stockholder moneys for their own use. People who buy stocks like to know what they're really buying; people who make charitable contributions like to know what real good their money is doing. Neither wants to simply support those who are supposed to be running the organization. The BBB Wise Giving Alliance can help you make informed charitable decisions, and "BBB" stands for "Better Business Bureau."

Here are NewWork News stories from previous months

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