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Waiting for the other shoe to drop (Friday, 10/31/03)
The third quarter saw explosive and, no doubt, unsustainable growth. America's Gross Domestic Product increased at an annualized rate of 7.2 percent during the July-September period. So far, though, job growth continues to lag, and whether the U.S. economy's growing strength will mean an increased likelihood of President Bush's re-election probably will depend on whether the jobs follow. Consumer spending accounts for about two-thirds of the American economy, and, while it was strong during the summer, helping to push third-quarter GDP growth to dizzying heights, September was another story.

Late-night Medicare talks yield nothing so far (Friday, 10/31/03)
Congressional negotiators talked late into last night, but the Senate Finance Committee Chairman says there was no agreement on anything, including the issue of tax-free health savings accounts.

California on fire: will it be an economic wash? (Friday, 10/31/03)
Gary Gentile writes from Los Angeles that some sectors of the California economy are likely to be devastated by the wildfires, while others may be strengthend. Michelle Kessler of USA Today has more about the downside.

Officials got first clue five years ago that led to last week's arrests (Friday, 10/31/03)
Federal immigration officials arrested 245 members of cleaning crews at 58 Wal-Mart stores last week. Adam Geller reports that the investigation started five years ago in Pennsylvania with a young Russian who had overstayed his tourist visa.

Today's NewWork News Web Tip: The Library Network (Friday, 10/31/03)
The Library Network serves staff members of both the World Bank and the International Monetary Fund.

GDP surges (Thursday, 10/30/03)
During the third quarter of this year, the U.S. Gross Domestic Product grew at an annualized rate of 7.2 percent, according to the Commerce Department. It's the strongest growth since 1984. Whether this level of growth will hold up is a question much on the minds of many officials, including those at the Federal Reserve.

Lawmakers continue to wrestle over Medicare bill (Thursday, 10/30/03)
The President wants a bill before the end of the year, sufficiently in advance of the election to take Medicare-related issues out of the campaign. So far, though, the Congress is far from agreement. Here's more from mark Sherman in Washington.

IRS intends to crack down (Thursday, 10/30/03)
It appears that tolerance for tax evasion has been on the increase, not only among corporations, but also individuals. Mary Dalyrmple writes from Washington that the IRS intends to step up enforcement.

Remember the "generation gap?" (Thursday, 10/30/03)
In its collective mind the "boomer generation" is still the younger generation leading the way against the obsolescence of its fuddy-duddy elders. However, in reality, the boomers are beginning to close in on their retirement years, with their youth a more and more distant memory, and will soon be the oldest generation. Generation gaps still persist, however. This New York Times article describes the attitudes toward work and career of members of Generation X and Generation Y.

Information storm (Thursday, 10/30/03)
Research conducted at the University of California at Berkeley has concluded that human beings created enough information during 2002 alone to fill 500,000 Libraries of Congress. Presumably, more information is being created than genuine knowledge or wisdom.

Today's NewWork News Web Tip: OECD in Figures (Thursday, 10/30/03)
Here are economic statistics describing the 30 member countries of the Organisation for Economic Co-operation and Development.

Eleven miners rescued (Wednesday, 10/29/03)
Eleven of thirteen miners who have been trapped underground for six days in Russia have been rescued. Here's more from Sergei Venyavsky in Novoshakhtinsk.

Steady, steady (Wednesday, 10/29/03)
As expected, the Federal Reserve chose to hold interest rates steady at 1 percent, which is the lowest they've been since 1958. There is still concern about possible deflation, and the Fed doesn't want to nip current growth before it becomes stronger and more solidly-established.

EU officials expect a disappointing year (Wednesday, 10/29/03)
The European Union's growth forecast for 2003 has been downgraded, but the stage is set for eventual strong rebound, according to officials. However, David Fairlamb in Frankfurt sees a possible debilitating feud between smaller and larger countries after the EU is expanded to include 10 additional members.

Two additional signs of good times to come (Wednesday, 10/29/03)
Two key statistics released this week show improvement, suggesting that the American economy's growth is real and will persist. Monica Rivituso of Smart Money sees something to cheer about.

What the IMF might say if the U.S. weren't the U.S. (Wednesday, 10/29/03)
William Wolman, former chief economist at Business Week, claims that the International Monetary Fund likely would see the United States as being in fiscal danger, if it were not the most powerful country in the world.

No extra pay (Wednesday, 10/29/03)
A Democratic proposal to make up the difference between federal employees' regular salaries and what they earn on active duty with the National Guard and reserves has been rejected, according to Ken Guggenheim in Washington.

Flight attendants see a changing job description (Wednesday, 10/29/03)
Who will pay for advanced self-defense training for flight attendants? The Association of Flight Attendants claims that Continental Airlines managed to get key wording changes put in place that would make the training voluntary rather than mandatory, meaning that airlines wouldn't have to pay for it. The legislation is up for a vote this week, according to Bill Hensel in Houston.

Pilots authorize strike (Wednesday, 10/29/03)
Pilots at the nation's largest regional airline have authorized their union to call a strike. Eight-hundred-fifty pilots at Mesabi Airlines would be affected.

Today's NewWork News Web Tip: Outsourcing Institute (Wednesday, 10/29/03)
If you want to send American jobs overseas, Outsourcing Institute can help you learn how to do it.

Tens of thousands of Sony workers will become former-Sony workers (Tuesday, 10/28/03)
Sony is struggled to regain its premier position in the consumer electronics sector and plans to cut 20,000 jobs over the next three years as part of the effort. That's about 13 percent of its global workforce.

Fire disaster not expected to affect the economy in major ways (Tuesday, 10/28/03)
The California wildfires that are destroying hundreds of homes and which have destroyed a number of lives will have an economic impact, but it's expected to be brief. Here's more from Andrew Pollac in Los Angeles.

Probably no rate increase today, but... (Tuesday, 10/28/03)
Many private sector economists are expecting the Federal Reserve to raise interest rates by March, or, at least, think it should. Otherwise, inflation could become a problem. Fed policy makers are meeting today, but no immediate increase is expected.

What to do about future Medicare costs (Tuesday, 10/28/03)
Essentially, nobody knows, but Senator Grassley of Iowa says that lawmakers will try to give the appearance of knowing. How to control costs is the major stickler, though. Here's more from David Espo in Washington.

From a purely cynical political standpoint, Medicare will be a significant issue in the presidential campaign that will begin gathering momentum soon, unless it can be taken off the table somehow. Older people tend to be politically active and vote in large numbers. However, health care in general is likely to be a major issue as Americans become more concerned about all aspects of their security. Expect to hear candidates talk more about it. For instance, as Nedra Pickler reports, retired Army general Wesley Clark says that, as president, he would be sure that all American children have coverage and that coverage would be broadened for adults.

Pop culture star linked to sweatshops (Tuesday, 10/28/03)
A workers' rights group is claiming that clothing marketed by Sean "P. Diddy" Combs is manufactured under sweatshop conditions in Honduras.

More nurses are sticking with their jobs (Tuesday, 10/28/03)
There's a national shortage of RNs, so be careful if you're just getting ready to graduate. There is always the danger of being trampled by employers wanting to hire you. There are plenty of jobs available for working nurses who want to switch too, but, as Jodie Snyder reports, that there is less job-hopping going on than recently, according to the Arizona Hospital and Healthcare Association.

Courage...it's time to think about life insurance (Tuesday, 10/28/03)
Most people are about as happy to see a life insurance salesman at their door as an official from the IRS or somebody wanting to talk about their plans for their own funeral. Nonetheless, it's something that most people should think about before they get too old for it to matter or before something disastrous happens. Scott Burns offers some quick advice on how to get the most out of your money when purchasing life insurance.

Today's NewWork News Web Tip: Consumer Law Center (Tuesday, 10/28/03)
Consumers will find thousands of resources relating to nearly every aspect of their economic roles in the FindLaw Consumer Law Center.

More signs of muscularity (Monday, 10/27/03)
Martin Crutsinger reports that there continue to be signs of growing economic strength, even in the job market, which has been nearly comatose for a long time. The Fed doesn't seem sure enough to raise interest rates, though. Fed Head Greenspan and his colleagues meet tomorrow to decide.

Incidentally, those folks at the Fed are likely to be among America's affluent, and, sure enough, there is an Affluent Consumer Confidence Index. In fact, it's up, but, despite their apparent confidence, the well-off in America still seem somewhat reluctant to spend.

G7, G8, now G20 (Monday, 10/27/03)
The G7 refers to the seven richest industrial nations in the world. G8 refers to all of them, plus Russia, which the world has learned from painful experience during the 20th century, probably should not be left out of too much. G20 refers to a collection of both rich and poor countries. Delegates from these nations have been meeting in Morelia, Mexico. Here's more from Traci Carl who has been on the scene.

No more bargains (Monday, 10/27/03)
Shannon Buggs writes that, higher education bargains are disappearing fast, and may be entirely gone. Even at community colleges, which were designed to broaden access, costs have increased 14 percent over last year. Some institutions are so costly that many students graduate with debt that can take as long as a housing mortgage to pay off, and, in fact, may remove many people from the housing market during the years they are raising their families, because there may not be enough money to make both payments.

Soon, the principal force driving online higher educational programs may become cost. However, in addition to the reduction in faculty jobs that is likely to result if the majority of America's college students no longer share major "face time" with professors, many worry about the "de-professionalization" of higher education that may occur with the growth of online programs.

There's an increasing division of labor aimed at cutting costs in medicine, as well; e.g., it's probably not necessary or cost-effective to have an expensive heart surgeon measuring your blood pressure. In fact, when you're not feeling well, you may very well consult with a nurse practitioner or medical assistant instead of a physician, even though they operate according to clear guidelines as to when to call in the doctor. But, how would you feel if you were to turn your health over to various computer programs without really knowing for sure who is on the other end and what their responsibilities are toward you and your ailments?

Are you among those who earn 38 percent of the national median income? (Monday, 10/27/03)
That's what the $5.15-per-hour minimum wage amounts to now, according to Andrea Coombes in San Francisco. That's a record low during the time such statistics have been complied since 1973.

When "resignation" doesn't mean quitting (Monday, 10/27/03)
Many Americans are resigning themselves to the idea of working forever because they haven't saved enough money to support retirement during their later years. Here's more from the Houston Chronicle. On the other hand, if you are preparing to retire, but want to minimize risks, here's some advice from Scott burns on how to invest safely.

New century, some of the same old biases (Monday, 10/27/03)
Many of us feel that, in a better world, pay and promotion opportunities should be linked to performance alone, not skin color, not ethnicity, not gender, not age, not anything other than whether you can do the job satisfactorily. Well, we may have to wait for the world to get a little better. Even in the United States, which has become increasingly democratic since its founding--meaning that democracy, like most things in life, usually is not born full-grown--familiar workplace biases persist as we move deeper into the 21st century. Here's more from Stacy Teicher, including yet another reason why Wal-Mart seems to be in the news so much lately.

Your boss probably is stressed out, and you're probably stressed out too (Monday, 10/27/03)
Here are some of the results form a new study conducted by NFI Research in which data were gathered from 2,000 executives and managers in 1,400 companies over the past year.

Charisma doesn't sell so well at the moment (Monday, 10/27/03)
History has shown that when people turn their fate over to highly charismatic leaders, things often don't turn out well. Julie Moran Alterio of the Westchester, New York Journal News writes that corporate boards may have learned from their recent experience too. More of them are looking to solid professionals within their own companies for CEO material.

Today's NewWork News Web Tip: Women in America, 1820 to 1842 (Monday, 10/27/03)
The University of Virginia has compiled records of the experiences of eighteen Europeans who traveled throughout the United States during the early years of the 19th century. Here's Women in America, 1820 to 1842.

Fed expected to hold steady (Sunday, 10/26/03)
Interest rates are at their lowest point since Dwight Eisenhower was president, before Castro came to power, before the Berlin Wall was built, before Bill Gates' fourth birthday--since 1958. Tim Ahmann reports from Washington that the Federal Reserve is expected to leave rates where they are when policy makers meet Tuesday.

Consumers are spending now, but will they continue? (Sunday, 10/26/03)
Job fears could make American consumers much more skittish about parting with their money, according to Andrea Hopkins. This is important, because consumer spending accounts for about two-thirds of the American economy. Many business people are also still wondering if the recovery is real and will persist, according to Jeannine Aversa.

Blowing it? (Sunday, 10/26/03)
Christopher Farrell believes that the recovery really is underway, and he thinks that the President is faced with an excellent opportunity to lead. But, he's not taking advantage of it, according to Business Week's Farrell.

Senate fails to pass Wellstone's mental health parity bill (Sunday, 10/26/03)
Senate Democrats had hoped to mark the one-year anniversary of former Senator Paul Wellstone's death by passing legislation that would provide equal health insurance coverage for so-called mental illnesses, but that was not to be. Frederick Frommer has more from Washington.

We say "so-called" because recent research is showing that many psychiatric disorders traditionally referred to as "mental" illness are really physical illnesses differing in no essential way from all the others. The difference is that the brain, brain chemistry, etc., are involved, rather than, say, the pancreas, the heart, the liver, the big toe, or some other part of the body.

Incidentally, as evidence that simply knowing something about an issue can overcome mindless partisanship, liberal Democratic Senator Wellstone's chief ally in attempting the pass the mental health parity legislation was conservative Republican Senator Pete Domenici of New Mexico.

Here's a twist: a Chinese company hires American workers (Sunday, 10/26/03)
Moreover, they're hiring them in South Carolina. Here's more from Christopher Berry on what may seem to be one of those "man bites dog" stories.

Meanwhile, David Gumpert has changed his mind about some issues having to do with cheap foreign labor and cheap imports. He's been thinking about Wal-Mart, among other things.

D.C. economy benefits from contractors (Sunday, 10/26/03)
Job growth in the District of Columbia region is better because of increased government spending. Here's more from Neil Irwin of the Washington Post.

Today's NewWork News Web Tip: World of Work (Sunday, 10/26/03)
World of Work is a magazine published by the International Labor Organization, an agency of the United Nations.

Rescue in Russia (Saturday, 10/25/03)
Coal miners trapped for two days in a flooding mine shaft are being pulled out. More than a dozen have been rescued so far, but some are still missing.

Check-out at Wal-Mart (Saturday, 10/25/03)
Following raids that netted hundreds of illegal immigrants working for firms that clean Wal-Mart stores, the company has announced that it will review all of its 1.1 million employees and fire those who are in the country and working illegally.

Is the IRS too kind and gentle? (Saturday, 10/25/03)
According to some testimony in Congress, the Internal Revenue Service has gotten too meek following passage of the "taxpayer bill of rights" several years ago. Corporate scammers are cheating the government out of billions of dollars in tax revenue, says an anonymous witness.

Childlessness in the United States (Saturday, 10/25/03)
Across the globe, the population explosion continues, but seems to be slowing a bit. In many industrial countries, population growth already has leveled off, and, in fact, some countries, such as Japan, are experiencing a decline in population that may permanently handicap the country's economy. In the United States, a record number of women remain childless, many by choice, according to Census data. Here's more from Genaro Armas in Washington about this major demographic trend and its implications.

Today's NewWork News Web Tip: FindLaw Small Business Center (Saturday, 10/25/03)
The FindLaw Small Business Center contains thousands of pages of information on all aspects of starting and running a business.

Hundreds arrested at Wal-Mart stores (Friday, 10/24/03)
Federal officers have swooped down on Wal-Mart stores in 21 states with the intention of arresting illegal workers on immigration charges, and have netted nearly 300 in the process. Nearly all have been working on cleaning crews employed by contractors, according to Wal-Mart officials, who have said that they knew nothing about the employment of illegal immigrants. They may have some difficulty convincing the government that they made Wal-Mart into the world's largest corporation (by sales volume) by being stupid and uninformed, particularly now that law enforcement officials are claiming to have evidence that corporate officials had direct knowledge of the violations.

Russian crews race to rescue miners (Friday, 10/24/03)
Forty-six coal miners are trapped far below the surface of the earth in a flooding mine shaft, according to Maria Golovnina in Moscow.

Meanwhile, Joseph Kahn is in Beijing and reports that efforts to reduce the death toll in China's mines and factories so far has been unsuccessful, despite new laws. Nearly 12,000 workers died during the first nine months of 2003.

Agreement at America West (Friday, 10/24/03)
America West Airlines has reached a tentative agreement with its pilots on a new three-year contract. Here's more from Phoenix.

Grocery shoppers begin to cross picket lines (Friday, 10/24/03)
Chelsea Carter writes from Irvine, California that shoppers are indicating that they're tired of running around town looking for the groceries they need and are getting frustrated with the grocery workers' strike.

Wal-Mart has been in the news lately for a number of reasons, and may have something to do with the grocery clerk walkout. Not that Wal-Mart's own workers are on strike--nearly all Wal-Mart workers are not unionized. However, the giant retailer's movement into the grocery business, not only through stores with the company name, but also through its Sam's Club stores, is forcing grocery chains to find ways to cut costs in order to keep Wal-Mart from doing to them what it did to K-Mart.

Demographic shifts may drive Japanese economy deeper (Friday, 10/24/03)
Audrey McAvoy writes from Tokyo that Japan's aging and diminishing population threats to exacerbate the country's persistent economic woes. Only a few years ago, most people were talking about the post-war "Japanese miracle," and American corporations were sending their executives to Tokyo to see "how the Japanese do it." Japan still has the second-largest economy in the world, but China is gaining fast and may become the most influential society in Asia soon, economically and otherwise.

Signs of a turnaround in the U.S. job market (Friday, 10/24/03)
New Labor Department data indicate that layoffs are declining as employers become more confident that the economic recovery is real and will persist.

With what country does the U.S. trade more than with Japan or China? (Friday, 10/24/03)
If you said "Canada," you're entitled to the coveted NewWork News handshake award. Diane Brady says that about $1 million worth of trade PER MINUTE crosses between the two countries. Too bad that there's such a frosty relationship between Prime Minister Chretien and President Bush, she says; it's time to warm up.

Laid off vs. fired (Friday, 10/24/03)
Michael Laskoff says that being fired presents special problems, but don't assume they're insurmountable. Confronting them early is important, though.

Today's NewWork News Web Tip: Grants.gov (Friday, 10/24/03)
Grants.gov may be the best way to sort through the thousands of grant programs maintained by the federal government.

Big drug deal goes down (Thursday, 10/23/03)
The House and Senate appear to have reached tentative agreement on how to add a prescirption medication benefit to Medicare. The President, for one, would like to see the issue settled, so as to be taken out of the upcoming presidential campaign. Gardiner Harris reports that tight state budgets have caused many governors to want access to less expensive medications from Canada, which is also planting the issue squarely on the political map. Meanwhile, American pharmaceutical companies had a weak quarter. Here's more from Edward Tobin.

Sluggishness in Germany (Thursday, 10/23/03)
Not long ago, the German government indicated that it expected an unimpressive 0.75 percent economic growth this year, but even that seems too optimistic now. In addition, Germany's Finance Minister says that, once again, his country isn't likely to be able to bring its deficit to within EU limits.

Who are the workers lacking health benefits? (Thursday, 10/23/03)
New research from the Commonwealth Fund finds that a third of them work for large companies, where workers traditionally have been most likely to have coverage. While many workers are losing benefits altogether, others are finding that they've having to pay a larger share of the rising costs themselves. Here's more about the growing pinch from the New York Times' Milt Freudenheim.

Strike concerns in Arizona (Thursday, 10/23/03)
John Stearns and Christine Romero of the Arizona Republic find that grocery workers in the Phoenix area are concerned that their way of life could be at risk because of issues that are threatening to bring on a strike.

Halloween is approaching, so "Boo!" (Thursday, 10/23/03)
Among the things that may not seem so scary as this month ends is the deficit, according to Business Week's Ryan Brecht. He says it's time for a reality check.

Speaking of fear, John Berry says that there seems to be plenty among members of the public, but that doesn't mean that the Fed will raise rates anytime soon. The Treasury Department says that recent remarks by Secretary Snow suggesting that the Administration wants higher interests rates were misinterpreted.

First NAFTA, now CAFTA (Thursday, 10/23/03)
Diplomats are meeting in Houston as part of an effort to establish a Central American Free Trade Agreement. Jenalia Moreno explains why the worker rights issue is a tricky one.

Isn't it wonderful that productivity has been on the increase? Well, isn't it? (Thursday, 10/23/03)
Yes and no, depending on whom you ask, writes Hal Varian of the New York Times. On the one hand, a society's overall standard of living depends on its productivity, which means fewer people doing more. On the other hand, if the economy isn't growing and producing sufficient jobs for those who want them, higher productivity can mean painful displacement for many individuals and families.

Sometimes, a good job is the one you can get (Thursday, 10/23/03)
Stephanie Armour reports that many people who have been laid off from well-paying jobs are taking whatever they can find to keep food on the table.

Contact with reality becomes harder at higher echelons (Thursday, 10/23/03)
Much depends on how you are perceived by those you work for and with, but as Stacy Teicher reports, it's harder to learn what those perceptions really are as you ascend the hierarchical ladder.

Today's NewWork News Web Tip: A Thousand Years of Work and Money (Thursday, 10/23/03)
A Thousand Years of Work and Money from the Christian Science Monitor traces the evolution of work over the past millennium.

Another side to the prescription medication problem (Wednesday, 10/22/03)
For some older people, the cost of prescription drugs is their largest monthly expense. Given that older people tend to vote in great numbers, it's possible that the prescription medication cost issue will affect the outcome of the next presidential election, unless Congress adds a drug benefit to Medicare in the next year or so.

Of course, the current generation of older people is the first in all of human history to have many of those expensive medications available in the first place. Technology is one of the things responsible for the dramatic increase in life-expectancy in the U.S. during the past century.

Ordinarily, competition tends to hold prices down, while monopoly does not. But, if a company makes large investments in the development of a new medication, it's expected that it should be entitled to a maintain a monopoly on its own product for a lengthy period of time in order to recover R&D investments as well as profit from its own investments and creativity. Moreover, if the medication really is new, by definition, there is no alternative product available from a competing company, so there is no competition to hold down prices.

Nonetheless, not all pharmaceutical companies are rolling in money. For instance, Merck has been having its share of problems and will cut 4,400 jobs in order to slice costs.

Snow expects more new jobs than most experts expect (Wednesday, 10/22/03)
Treasury Secretary John Snow has told the London Times that he expects the U.S. economy to add two million new jobs before the next presidential election. Edmund Andrews writes that Secretary Snow seems more optimistic about job growth than the President and other key members of the administration.

US Airways changes its corporate mind (Wednesday, 10/22/03)
Mary Williams Walsh writes in the New York Times that some US. Airways pilots are likely to lose out twice, given the company's change of position on its pension system in and out of bankruptcy.

Explaining health-care costs (Wednesday, 10/22/03)
The cost of health-care continues to rise at a breathtaking rate, despite low overall inflation. Business Week's Howard Gleckman offers answers to some key questions. Meanwhile, USA Today's Stephanie Armour and Julie Appleby report on the increasing proportion of health-care costs that's being shifted to workers, as well as how this issue is influencing labor-management relations, including the Southern California strikes.

"Non-profit" doesn't necessarily mean "altruistic" (Wednesday, 10/22/03)
Many people who are in debt over the heads feel they can trust credit counselors who say they're "non-profit." Here are some reasons why trust may not be warranted.

Today's NewWork News Web Tip: POTUS (Wednesday, 10/22/03)
Can you name all of the presidents of the United States? What is Gerald Ford's middle name? Who preceded John Tyler in the presidency, and who followed him? In case you're ever called to appear on "Who Wants to be a Millionaire," better study POTUS.

Labor conflicts heat up in California (Tuesday, 10/21/03)
At least two grocery chains are beginning to replace striking workers in California and Arizona. Also, if you're interested in root causes of the three supermarket strikes, take a look at Wal-Mart, its labor costs, and its movement into the retail grocery business. Here's more from today's Miami Herald.

Reasons for the latest cuts at Sony (Tuesday, 10/21/03)
It sometimes seems that one can do nearly anything with high-technology, except make money with it, particularly in the consumer sector. Ken Belson reports from Tokyo that Sony will cut 10 percent of its employees in order to reduce costs and bolster profitability. Sony has been having difficulty maintaining its high-end leadership position in the consumer electronics sector. Tech products have a brief "half-life." Obsolescence sets in quickly. A company can have great difficulty recovering its R&D investments before the "next great thing" is on the market.

In only about two decades, consumer VCRs have gone from costing about $2,500 to about $60, which is impressive, even when we don't take inflation into account, and that technology isn't even digital. During the boom period of the 1990s, fiber optics systems were tremendously over-built in many American communities. Now, even if we have strong economic growth for years, it seems increasingly unlikely that we'll ever "catch up" and use that excess capacity, because everything seems to be going wireless now.

Interestingly, the wired-to-wireless transition was happening about a century ago too. Telegraph that used many miles of wires and cables was one thing, "wireless telegraphy" or "radio" was something else. The head of one company that manufactured wire and cable didn't think much of the new wireless technologies. Despite what appeared to be clear advantages of communicating over long distances without the cost and inflexibility of stringing all that cable, he said he would continue to manufacture just as much wire as he had before. A lot of it probably ended up rusting in warehouses.

Older Americans can easily remember when long-distance telephone calls were only three minutes long and expensive. Many Americans never made a long-distance call except to notify family members when someone died. Now, long-distance service is available at no additional cost in many wireless telephone plans. Many also put no restriction on the minutes used at night and on weekends. Before long, we can expect that there will be no usage restrictions during the day as well. It means that, for a fixed monthly fee, telephones will be wireless instead of part of a fixed wired system, while including all the benefits of old-fashioned land-based telephones, plus long-distance will be free. It's probably not time to install more telephone poles.

Also, it isn't necessary to be among the oldest people on the planet in order to remember when telegrams were written carefully in order to leave out costly, unnecessary words. Telegrams were expensive too, but often cheaper to send than making a telephone call. Now, Western Union will send money, which can be handy, but do you really want them to send a message of a few words to be delivered to its recipient the next day?

In general, most of our conventional economic assumptions and expectations grew out of the early days of industrialization, and hi-tech now makes many of them obsolete. Years ago, Peter Drucker already was saying that prevailing economic theory didn't know what to do with "information" as a major factor in production--e.g., with respect to scarcity, and so forth.

Will the exportation of tech jobs be self-correcting? (Tuesday, 10/21/03)
Probably not entirely, but there are indications that the practice is putting downward pressure on American tech salaries, which means that employers will save less by sending a job to India, and, so, should be less motivated to do it. Here's what Harris Miller of the Information Technology Association of America has to say about the issue.

Incidentally, jobs have been disappearing from America for other reasons too. As John Reinan reports in the Minneapolis Star Tribune, rather than being served by a human, many people are doing it themselves through the help of machines.

Surfing at work just for the hell of it (Tuesday, 10/21/03)
A new study reported in the Wall Street Journal finds that workers surveyed reported spending an average of 3.4 hours per week wandering more-or-less aimlessly on the web, or, at least, not for work-related purposes.

Is higher education worth twice what it was a decade ago? (Tuesday, 10/21/03)
One might hope so, because college tuition and fees are up 40 percent from ten years ago, according to new research conducted by the College Board.

Today's NewWork News Web Tip: College Cost Projector (Tuesday, 10/21/03)
The cost of college has been going up dramatically. If you'd like to make a guestimate of what it will cost when you or your children are ready to attend, FinAid's College Cost Projector may be helpful.

Leading indicators index slips a little (Monday, 10/20/03)
The Conference Board's Index of Leading Economic Indicators was down 0.2 percent in September, but economists caution against too much worry. Recovery is likely to continue, but not necessarily without a bump here and there. However, economic recovery is one thing; job creation is another. Jeremy Bupp offers an analysis.

Southern California transit and grocery strikes continue (Monday, 10/20/03)
Jeremiah Marquez reports from Los Angeles that negotiations apparently have stalled. At least a half-million commuters continue to have difficulty getting from point A, otherwise known as "home," to point B, otherwise known as "work."

Are the rich nations exploiting the poor with unfair trade agreements? (Monday, 10/20/03)
Malaysia's Prime Minister thinks so. Here's more from Darren Schuettler at the summit in Bangkok.

Many free-trade protesters probably agree. However, Bill Hensel and Peggy O'Hare report that persons who object to the development of a free trade agreement with Central America are primarily concerned about lost jobs.

Opponents to free trade might find some talking points in economist Joseph Stiglitz' new book, The Roaring Nineties, in which he offers an alternative interpretation of the 1990s boom.

GM focuses on what it expects to be the world's second-largest auto market (Monday, 10/20/03)
Presently, the largest automobile markets in the world are the United States and Japan, respectively. However, within only five years, China is likely to surpass Japan, according to a top General Motors executive, to become the second-largest automotive market in the world.

The United States can't afford to ignore the threat of international terrorism that targets modernism, the West, and particularly the U.S., but it may turn out to be a distraction in the long-run. There are clear indications that China intends to become the most advanced, most influential society in the world before the end of the 21st century, so the Chinese may not mind too much if the U.S. gets bogged down and drained in the Middle East.

China has the fastest-growing economy in the world, and, in addition to the tremendous growth of its automotive market, it already has become one of the world's most important markets for wireless telephones, and is likely to surpass the United States as the largest market for personal computers by 2010, according to recent forecasts. And, oh yes, if you doubt that China is producing a lot of sophisticated engineers capable of creative R&D, not just low-cost manufacturing, it's important to remember last week's news: China became only the third country in human history to put a human being in space.

Financial scandal in...Sweden? (Monday, 10/20/03)
Sweden's private pension system is in crisis, in part, because of an investment scandal that seems similar to recent problems in the United States. The government has called an urgent meeting.

Meanwhile, David Rising reports from Berlin that Germany's Chancellor has a plan for bolstering the country's sagging pension system.

In the U.S., Boston College researchers find that workers with 401(k) retirement savings plans are more likely to stick with their jobs than ones who have traditional pensions.

An unlikely place to find a vigorous consumer market? (Monday, 10/20/03)
India is the world's second-most-populous country, perhaps destined to surpass China and become the world's largest later this century. When many people think of India, they think of poverty, and there certainly is plenty of that. However, there are so many people in India that one shouldn't be astonished to find a lot of just about anything one can imagine. If you assume that doesn't include a prosperous consumer class, assume again. Here's more from Amy Waldman in Gurgon.

What could the government buy if it could collect all the taxes owed? (Monday, 10/20/03)
The total amount that is being made off with by tax cheats could pay for the war in Iraq, at least so far. Despite efforts to crack down, there are still an abundance of cheaters and slippery tax shelter schemes. David Cay Johnston reports that the Senate Finance Committee is hoping to put some teeth in the crackdown.

What does it mean to be "married?" (Monday, 10/20/03)
If a couple falls in love on a desert island where there are no religious or legal authorities, will they have to resign themselves to never marrying, or can they simply "shake on it," and pronounce themselves husband and wife? What is the essence of marriage--that component without which a marriage isn't a genuine marriage? Is it a religious sacrament? A legal contract? Do two people have to obtain somebody else's "permission" or make a formal declaration of commitment to the larger community, or can they simply choose to pair off entirely on their own?

Among the many sweeping demographic changes in the United States during recent decades is what appears to be a return of the "common law marriage." Many couples live together in stable relationships over long periods as though they were married, and, to all outward appearances, may seem to be married. If it looks like a marriage, acts like a marriage, functions like a marriage, IS it a marriage, whether or there has been a ceremonial ritual of some kind and even if no one has signed on the dotted line?

Maybe, but as researchers are finding, making it official somehow, so that long-term commitment is implied and expected, seems to benefit children resulting from the union.

Hi-tech is helping women entrepreneurs achieve parity with men (Monday, 10/20/03)
USA Today's Jim Hopkins tells how women are taking advantage of current technologies to start innovative microbusinesses that often begin growing new jobs before long.

Where can you find job satisfaction? (Monday, 10/20/03)
All over the place. It's not confined to a few occupations, and those who are paid more aren't necessarily more satisfied with their work. Washington Post columnist Amy Joyce finds that people vary greatly in what they want from their work.

Family-friendly programs are beginning a decline (Monday, 10/20/03)
Very recently, the big news was that so many corporations were adopting family-friendly programs and work schedules, but that's "yesterday's news." USA Today's Stephanie Armour says that a trend may be starting in the other direction.

Today's NewWork News Web Tip: Haymarket Affair (Monday, 10/20/03)
Here are thousands of images from the Haymarket Affair, when Chicago police and labor protesters collided violently in 1886.

Senator Kerry's ideas for stimulating job creation (Sunday, 10/19/03)
His plan would offer tax credits to persons who return to school in order to improve their job skills. Meanwhile, the New York Times' Louis Uchitelle says that a major reason for the American economy's slowness in generating new jobs is excess capacity left over from the 1990s. Also, once new jobs become available in abundance, pent-up turnover is likely to break loose, according to Brendan January of CBS Marketwatch.

The richest and the biggest will talk more (Sunday, 10/19/03)
American President George Bush and Chinese President Hu Jintao met in Bangkok, and, following the picture-taking, the Chinese President said that the two countries will attempt to work out their differences over currency policy through further dialogue.

Selling the "sizzle" (Sunday, 10/19/03)
With the next presidential election only a bit more than a year away, the Administration needs for voters to believe that the American economy really is getting stronger and that it's because of the President's tax-cut policies. At the moment, despite lagging jobs creation, growth appears significant, but is it real and will it last? Here's what some economists are saying.

More jobs for arbitrators, fewer jobs for trial lawyers (Sunday, 10/19/03)
Kathy Chu of Dow Jones News says that more and more workers are signing on the dotted line, agreeing not to sue, and, instead, allowing arbitrators to settle any disputes with their employers that may come up.

Among the cruelest types of insurance fraud (Sunday, 10/19/03)
Michelle Andrews reports on nightmares faced by people who thought they had health insurance coverage but didn't.

Does the "boom" in "boomer" refer to retirement plans that are blowing sky-high? (Sunday, 10/19/03)
AARP has been analyzing Federal Reserve data and finds that many members of the huge baby boom generation won't have the money they will need to retire. Rusty Field says that, with 76 million boomers reaching retirement age this century, a crisis of monumental proportions looms, and that employers are likely to have to play a key role in heading it off. Albert Crenshaw of the Washington Post also sees a major crisis brewing in the U.S. pension system. In addition, he describes the current debate over types of pensions.

Washingtonians who feel they ARE the hours they work (Sunday, 10/19/03)
Amy Joyce discusses workaholism in the District of Columbia.

Today's NewWork News Web Tip: SocioSite (Sunday, 10/19/03)
The University of Amsterdam's Professor Albert Benschop offers SocioSite as a clearing house for those interested in sociological research throughout the world.

Optimism builds among American consumers (Saturday, 10/18/03)
The University of Michigan maintains one of the principal measures of consumer confidence which they call "consumer sentiment," and it increased in September, according to reports.

Singles become more important economically (Saturday, 10/18/03)
There are more of them. Marilyn Gardner reports that about a quarter of Americans now live alone.

Is it foreign or domestic? (Saturday, 10/18/03)
David Cay Johnston of the New York Times tells about a company that is trying to have it both ways.

Working to help (Saturday, 10/18/03)
Gunna Dickson writes from New York about the many ways in which people in business are making charitable contributions. Also, business people who would like to do good while doing well might want to talk to Harvard Professor Michael Porter who has worked for nearly ten years to convince corporations that inner cities can offer important and often-overlooked investment opportunities. Among those who have been talking with him is Aaron Bernstein of Business Week.

You really should do something about your height (Saturday, 10/18/03)
Not only if you're a bit heavy for your height, but also if you'd like a raise. A new study finds that height matters for career success. On average, taller people make more.

Critical issue: critical thinking (Saturday, 10/18/03)
With most Americans switching jobs or even careers multiple times during their working lives, the ability to think critically, as well as clearly and creatively, seems particularly important. Mark Clayton says that some colleges are trying to alter the ratio of thinking to reading in many of their courses.

Child labor and the Amish (Saturday, 10/18/03)
Until fairly recent history, many people in the West spent most of their earliest years working long hours, often under dangerous and unhealthy conditions. The prevailing attitude was that a child who worked long and hard was an industrious, rather than idle or lazy child. Children were seen mostly as just small adults, as well as necessary economic units in an early industrial economy that required their labor. Very large numbers of children throughout the world still have their possibilities cut short by working long hours beginning very early in life, often under sweatshop conditions, wearing themselves out early.

Some decades ago, a social movement took hold in Britain and the United States based on the idea that children are not simply small adults, and that the early years offer great developmental possibilities as well as great vulnerabilities unique to early life stages. Rather than a time for labor, childhood is a time for development, it was thought, including many years of compulsory education. With the maturing of industrial societies, required skill and educational levels increased, resulting in the need for more years of preparation. In fact, "adolescence"--that extended period of dependency on the family of origin--largely was a creation of industrialization.

However, in the United States, many children now seem to have a lot of free time that is not given to healthy development, but, instead, to passive activities such as watching television many hours per day, as well as to obesity and the development of diabetes. Among those who believe that work isn't always bad for young people or inconsistent with education or healthy development are the Amish who are trying to get the federal government to leave them and their children alone. Here's more from Steven Greenhouse in Pennsylvania.

Today's NewWork News Web Tip: Travel in America (Saturday, 10/18/03)
The American Memory project at the Library of Congress offers a collection of 253 reports from foreign visitors to the United States from 1750 to 1920.

Evans feels that concern about the federal deficit can be exaggerated (Friday, 10/17/03)
The federal government is spending quite a lot more than it's taking in, which also means that it's borrowing a lot of money. This means that it will be competing with the private sector for capital once economic expansion results in a major increase in business borrowing and spending. Nonetheless, the Commerce Secretary doesn't see cause for alarm, given that current circumstances justify extra government spending, he says. Also, he might point out that the current deficit needs to be evaluated relative to the current size of the U.S. economy, not simply compared to previous deficits when the economy was much smaller.

China's economy isn't "overheating," official says (Friday, 10/17/03)
Xinhua, China's official news agency, reports that the deputy director of China's National Bureau of Statistics makes his case for why the Chinese economy isn't "overheating," despite some claims.

Minorities still more likely to be rejected when applying for home mortgages (Friday, 10/17/03)
A new study conducted by ACORN, a consumer advocacy group, finds that loan bias persists. Here's more from Richard Burnett of the Orlando Sentinel.

More of Arizona's unemployed return to school (Friday, 10/17/03)
As more jobless people return to school, more jobs are being produced in the state's education sector.

Off the beat: night work disrupts your circadian rhythms (Friday, 10/17/03)
The twenty percent of U.S. workers who work evenings and overnight are subject to more health problems, according to a new study. Here's more from L. M. Sixel.

Hard adjustments for former dot-com twenty-somethings (Friday, 10/17/03)
Young people who entered the workforce during the go-go dot-com '90s are having to adjust to lower salaries and more regimentation than they were used to before the bubble burst. Here's more on a new report from Challenger, Gray & Christmas in E-Commerce Times.

Today's NewWork News Web Tip: China's Economy (Friday, 10/17/03)
Professor Andrew Papadimos of Australian Catholic University examines China's economy since 1949.

Means test for Medicare? (Thursday, 10/16/03)
If you're in a relatively high income category, expect to pay more for some Medicare services than lower-income people. The idea of means tests for entitlements such as Medicare and Social Security have been fairly taboo around Congress for a long time, but an historic change of attitude seems to be brewing, according to Mark Sherman in Washington. And, if first Medicare, can Social Security be far behind, and how do you feel about the whole issue? Eighty-something Mike Wallace of CBS' "60 Minutes," who is paid several million dollars per year to scare the hell out of crooks who want to be on television, receives the same-size Social Security checks as many people for whom they are the only source of income. Mike says he contributes his to charity, though.

Your government wants to send you more money (Thursday, 10/16/03)
...If you're a Social Security recipient, that is. Leigh Strope reports that beneficiaries will receive a 2.1 percent cost-of-living increase next year. In the meantime, too many people who aren't eligible are managing to obtain Social Security cards, and Jennifer Kerr says the feds are trying to do something about it.

No deal (Thursday, 10/16/03)
Japan and Mexico fail to reach a bilateral free-trade agreement, according to George Nishiyama in Tokyo.

The Fed sees good signs along the road ahead (Thursday, 10/16/03)
A report from the Federal Reserve finds that the U.S. economy does appear to be gathering a head of steam, but job-creation still lags. John Berry reports that growth during the third quarter may have been as high as an annualized 7 percent, with robust consumer spending a major part of the reason.

David Leonhardt writes that jobs have become a principal issue in the early stages of the presidential campaign. If the President has to face the voters with fewer people working than when he took office, and also with no significant improvement, it could result in his following footsteps leading out of the White House after only one term, laid down by his father.

However, if job-creation picks up signnificantly during the next year, more voters will be working by the time they cast their votes in November 2004, and many who aren't may be reluctant to switch to a relatively unknown quantity. One sign likely to be welcomed by the President is that first-time jobless claims declined last week to their lowest level since February.

Veterans bill expected to reach the President's desk (Thursday, 10/16/03)
More veterans will recevie more benefits if a $22 billion bill clears Congress, as many Congressional Republican leaders hope. Here's more from David Espo in Washington.

Euro's rise threatens Europe's recovery (Thursday, 10/16/03)
Business Week's David Fairlamb is in Frankfurt examining the reasons for the euro's climb against the U.S. dollar and its consequences for Europe's economic sluggishness.

Hazards of the work (Thursday, 10/16/03)
American contract workers overseas have become targets of terrorists in some parts of the world.

The economics of preschool education (Thursday, 10/16/03)
Economist Art Rolnick believes that investments in early childhood development pay off handsomely. The return on investment is impressive, he says, and childhood development is an important part of economic development.

Today's NewWork News Web Tip: Business Research Guide (Thursday, 10/16/03)
If you're looking for help in finding resources having to do with business and management, you're likely to find what you need through the use of Rutgers University Libraries' Business Research Guide.

So, the U.S. economy finally, clearly is taking off? No, it isn't (Wednesday, 10/15/03)
At least, not clearly. Jonathan Nicholson in Washington looks at the most recent batch of economic reports and finds a picture that remains very much mixed.

Among factors that are doing the mixing are growing indications that the Bush administration, whether or not it knew what it was doing when it decided to unseat Saddam, really didn't know what it was getting itself and the country into in Iraq. A majority of economists surveyed recently indicated worry about how the federal deficit and the cost of occupying and continuing the effort to get Iraq under control are likely to limit the U.S. domestic economy.

Meanwhile, the Japanese government's monthly economic report betrays some degree of optimism. Among other things, good news relating to corporate investment and exports suggest recovery may finally be underway after more than a decade of struggle.

For many, Southern California isn't quite enough fun at the moment (Wednesday, 10/15/03)
Alex Veiga reports from Los Angeles on the strikes that are tying things up for hundreds of thousands of people in Los Angeles County. Incidentally, to put things in perspective,, L.A. County contains more people than a lot of the world's countries: 10 million residents.

Help for immigrants who can't get their pay (Wednesday, 10/15/03)
Unscrupulous employers who refuse to pay immigrant workers while threatening to have them deported are now facing a growing coalition called Justice and Equality in the Workplace, which includes an agency of the Labor Department as well as an organization of contractors, among others.

The Pension Benefit Guaranty Corporation's big deficit is getting bigger (Wednesday, 10/15/03)
Marilyn Geewax of the Cox New Service reports that the government agency that guarantees corporate pension plans is in danger of being swamped and overwhelmed.

What happens when your employer REALLY knows a lot about you? (Wednesday, 10/15/03)
Once employers have access to detailed genetic information about workers, will discrimination be the result? Not if authors of the Genetic Information Nondiscrimination Act have their way. The Senate passed the bill 95-0 yesterday, and sent it to the House.

Where silence isn't golden (Wednesday, 10/15/03)
Not speaking up and confronting difficult issues in the workplace can have a toxic effect on organizations, according to an anthropologist who studies corporate culture. Here's more from the Christian Science Monitor's Stacy Teicher.

Today's NewWork News Web Tip: The Intellectual Property and Technology Forum (Wednesday, 10/15/03)
The Intellectual Property and Technology Forum was created and is edited by students at Boston College Law School.

Cheer up, Californians--you may not be able to get to the store anyway (Tuesday, 10/14/03)
Grocery clerks are picketing in Southern California, as union members as well as grocery chains expect a long strike, not only affecting California, but other states as well. Too add to agonies, mechanics for the Los Angeles public transport system have also gone out on strike, which means that as many as 500,000 people may be walking around L.A. County carrying their groceries, if they are able to buy any.

Arizona's no longer in the chips (Tuesday, 10/14/03)
Semiconductor manufacturing is beginning to fade in Arizona, and, as the Arizona Republic's Jon Talton reports, it's meaning a major loss of high-quality jobs.

Air New Zealand to stay aloft with the help of fewer people (Tuesday, 10/14/03)
Chris Daniels and Martin Johnston of the New Zealand Herald report that Air New Zealand will try to save $245 million per year, in part, by cutting 1500 jobs, but mostly in corporate and administrative areas, not pilots and cabin crew

After cutting 14,000 jobs, Northwest adds a few (Tuesday, 10/14/03)
Northwest Airlines intends to hire 200 people to help staff its reservation centers in Minnesota.

Why so many UPS drivers stick with their jobs (Tuesday, 10/14/03)
The pay is great, and so are the benefits. Here's more from Gary Strauss about the people who drive those ubiquitous brown trucks for United Parcel Service.

Today's NewWork News Web Tip: The New Zealand Economy (Tuesday, 10/14/03)
Here's a quick summary of the New Zealand Economy for the year 2000, as well as another overview, including forecasts and other information, from a major New Zealand government agency.

What corporate CEOs think about having a Governor Schwarzenegger (Monday, 10/13/03)
Here's a thought. Maybe California's budget shortfall could be taken care of if "Terminator 4" were done as a benefit. No, probably not.

At any rate, in California's effort to top Minnesota and itself, there soon will be another movie star serving as governor of the nation's largest state with the world's fifth-largest economy. Among the principal differences between Governor-elect Schwarzenegger and former Governor Reagan is that Reagan's Hollywood career had long cooled by the time he sought the governorship, while only weeks ago, Arnold was hyping his latest summer blockbuster feature film. Another difference, of course, is that Reagan had been politically active in various ways for many years, while Mr. Schwarzenegger, except for his after-school projects, seems to be a political neophyte at this point.

What does business think about Schwarzenegger's election? Shawn Tully of Fortune finds quite a lot of enthusiasm among corporate CEOs. They like the idea of having a successful businessman in the governor's office in Sacramento, although most see his ability to work miracles as limited. Arnold IS a VERY successful businessman, though, in California real estate as well as the motion picture business.

IMF sides with the U.S. on China's currency (Monday, 10/13/03)
The International Monetary Fund is trying to give China a little nudge toward allowing the yuan to float. Here's more from the Agence France-Presse's reporter in Singapore, where the World Economic Forum's East Asia summit is going on.

How to get keep corporations from dumping benefits (Monday, 10/13/03)
If a prescription drug benefit were to be added to Medicare, would companies presently providing that kind of benefit get rid of it? David Espo reports from Washington on Congressional efforts to develop incentives to prevent that from happening.

Meanwhile, soon-to-be-former Governor Gray Davis has signed into law a bill requiring California's large employers to offer same-sex domestic partners the same benefits received by employee spouses.

Compensation sought for apartheid-era workers (Monday, 10/13/03)
The Financial Times reports that a U.S. lawyer and several from South Africa have filed a $100bn lawsuit on behalf of 10,000 former employees of companies in South Africa.

How to keep them in school (Monday, 10/13/03)
Not the students, but the teachers. Seth Stern reports that an increasing number of teachers are leaving the field and causing great worry among people who run school districts.

Morale takes a hit (Monday, 10/13/03)
The past two years have left many people holding their aching heads, including workers throughout American business. Here's more about the decline in employee morale.

Shift in welfare spending (Monday, 10/13/03)
Cash payments have been in decline, while services to help people get and keep jobs have been on the increase. Robert Pear of the New York Times has more about the historic shift in the government's welfare system.

Boomers face a decision (Monday, 10/13/03)
The oldest baby boomers are within sight of their first Social Security check, if they want to start taking benefits at age 62. However, should they do so, or should they wait. Hank Ezell reports that the question is very much on the minds of members of that huge cohort born between 1946 and 1964.

On the inadvisability of mixing roles (Monday, 10/13/03)
If you're somebody's relative or friend, should you also be his/her banker? Probably not. However, if you insist on loaning relatives or friends money, there are some things to consider, according to Andrea Coobes of CBS MarketWatch.

Today's NewWork News Web Tip: Census of Governments (Monday, 10/13/03)
Here's the latest edition of the Census of Governments from the U.S. Census Bureau. It provides information about state and local governments throughout the United States.

Grocery workers strike in California (Sunday, 10/12/03)
More than 70,000 grocery clerks across Southern California have walked off their jobs. Supermarket chains say they will hire temp workers to keep hundreds of stores from closing. Here's more from Paul Chavez in Los Angeles.

Much remains to be done, he says...and how (Sunday, 10/12/03)
President Bush's interpretation of the 57,000 new jobs that the U.S. economy created in September as a sign of economic turnaround reminds of the old joke about learning too late that the "light at the end of tunnel" is a locomotive. The Minneapolis Star Tribune's national economics correspondent, Mike Meyers, says that the American economy really has to step on the gas if it is to fulfill the President's job-creation goals. Meyers says, "At the rate of 57,000 new jobs a month, it would take more than four more years for the economy to again have as many people on payrolls as on the day Bush was inaugurated."

Minnesota settles with its unions (Sunday, 10/12/03)
Unions representing about 27,000 state workers have reached agreement with the State of Minnesota on a new two-year contract.

Flight attendants to be called back to work (Sunday, 10/12/03)
For the first time since the September 11, 2001 terrorist attack, American Airlines is calling laid-off flight attendants back. Three-hundred-ninety workers will be returning to the skies.

Japan's finance minister speaks in Singapore (Sunday, 10/12/03)
Japan's Economics and Finance Minister Heizo Takenaka has told the World Economic Forum East Asia Summit that deflation has been more serious than the Japanese government had expected.

Governments scramble to cover pension shortfalls (Sunday, 10/12/03)
Mary Williams Walsh reports that state and local governments across the country are selling bonds in order to invest the money in their pension funds. It's risky, she says.

Gephardt's labor support (Sunday, 10/12/03)
Dick Gephardt hopes to leverage his labor connections in order to achieve the Democratic presidential nomination. Here's more from Mike Glover in Des Moines, Iowa.

Since the British, Americans, Canadians, Australians, and New Zealanders all speak English, does that mean they're all the same? (Sunday, 10/12/03)
Janalia Moreno discusses how advertisers are becoming more sophisticated about the diverse, expanding roles in the U.S. economy of increasingly affluent Hispanic Americans.

One of those "Peloponnesian War ends!" kinds of news flashes (Sunday, 10/12/03)
As philosopher Neil Diamond has written, "Money talks, but it don't sing and dance." In his 70-page lecture, economist Richard Layard points out that the world's increasing affluence hasn't resulted in increased happiness. Here's more from Ross Levin. In 1999, Princeton economist and New York Times columnist Paul Krugman wrote about the annoyances of prosperity.

America looks in the mirror (Sunday, 10/12/03)
Two new surveys provide opportunities for Americans to examine their personal finances. First, research conducted by Consumer Federation of America and Providian Financial finds that the wealth of America's middle class has increased, but largely because of the boom in real estate values. Still, most middle-class Americans don't have enough to handle a major emergency, let alone a comfortable retirement.

Another survey conducted by NFO Financial Services finds that the number of U.S. millionaires increased by 14 percent this year. However, data from the U.S. Census Bureau show that the number of poor has reached a four-year high.

Keeping an eye on you (Sunday, 10/12/03)
People are putting rear-view mirrors on their...desks. Washington Post columnist Amy Joyce discusses the decline of trust in the American workplace.

Today's NewWork News Web Tip: Workplace Surveillance Project (Sunday, 10/12/03)
The Workplace Surveillance Project comes from The Privacy Foundation, a Denver-based organization that is concerned with educating the public about threats to personal privacy in all aspects of life.

California grocery workers reject contract proposal (Saturday, 10/11/03)
Alex Veiga reports from Anaheim, California that 70,000 grocery workers in Southern California have rejected a contract offer from three major grocery chains. A federal mediator will try to help the sides reach a compromise, but, if that fails, a strike appears likely. Here's more from Ellis Mnyandu in New York. Meanwhile, Mike Freeman of the San Diego Union-Tribune examines previous strikes by grocery workers and finds that the results have been mixed.

It's more than we thought (Saturday, 10/11/03)
According to Landon Thomas' report, remaining top executives of the New York Stock Exchange are due to be paid $133 million to assist their retirements. Former Chairman Richard Grasso resigned over the furor raised by disclosures about the size of his pay package, although no wrong-doing had been established.

But wait. In those cases where there is no wrong-doing and no conflict of interest, should it be any outsider's concern how much a private business chooses to pay the people who work for it, so long as they're using their own money?

A basic principle in a market economy is that people should be free to decide how much they are willing to pay for something. Buyer and seller should be free to determine a price satisfactory to the two of them, even if it seems "unfair" to outsiders who may assume, mistakenly, that an economy is a closed system; that there's a fixed amount of economic resource that can be taken for granted, and that the only issue has to do with how this resource is distributed. It seems unlikely that there are so many poor people in the world BECAUSE Bill Gates is so rich.

If you choose to pay more for a consumer product than someone else pays, shouldn't you be free to do so? If an executive isn't "worth" more than $100 million under any circumstances, the same must apply to movie and sports stars who have similar incomes. However, the only reason a basketball team is willing to pay a hugely talented player so much money is because the owners expect it to be to their benefit to do so. They think it's going to be good for business, and, if they won't pay it, it's likely that a competitor will.

The alternative to economic freedom is for government to decide what all products and services are "worth" and to set prices. Those who remember the 20th century will know that this already has been tried in a number of countries with catastrophic results.

Unintended consequences of pay disclosure (Saturday, 10/11/03)
If you think an executive is paid too much, simply getting the word out should remedy the problem, right? Not necessarily, according to University of Delaware Professor Charles Elson's research. In fact, disclosure may result in further raises. Here's more from Patrick McGeehan of the New York Times.

Today's NewWork News Web Tip: Career Development Center for Postdocs and Junior Faculty (Saturday, 10/11/03)
Career Development Center for Postdocs and Junior Faculty comes from the organization that publishes Science magazine and is intended as a resource for young scientists.

Things are looking brighter in Russia, but... (Friday, 10/10/03)
...The International Monetary Fund would like to see further reforms. The fact that the Russian economy is growing at a rate envied by American officials is remarkable, though. Not so long ago, Russia was seen as an international basket case. Then, when loads of outside money were dumped in to stimulate the economy, most of it seemed to go immediately to the Swiss bank accounts of powerful individuals who had mostly their own prosperity in mind. For a time, it appeared that Russia's experiment with democracy and market economy would degenerate into to some sort of centralized authoritarian system again. For the moment, though, while still in their infancy, both democracy and market economics appear to be on track. Stay tuned.

What to do if you're uninsured (Friday, 10/10/03)
First, for heaven's sake, be careful. Sandra Block of USA Today examines the options available to people who lack health insurance. Two United States Senators are reaching across the aisle in an effort to help unemployed persons obtain health coverage through the use of tax credits. In the Twin Cities, a group of employers have formed The Employers Association, Inc. for the purpose of setting up a new health plan in only five months.

VERY good-paying jobs (Friday, 10/10/03)
When it became known that former NYSE Chairman Richard Grasso's pay was sufficient to take your breath away, the Exchange's PR people decided that, in the present climate, it was too much to overcome, so Grasso backed up his truck, took his money, and went home. Now, it appears that two top people who worked for him are in line to receive $22 million each when they retire. Here's more from Javier David and Nicole Maestri in New York.

If Andy's concerned, the rest of us should be concerned too (Friday, 10/10/03)
It isn't just that American hi-tech jobs are being sent to places like India, Intel's Andrew Grove says that China and India, in addition to a vast supply of sophisticated workers, are providing strong incentives for capital investment. U.S. leadership in high-technology is threatened, he says, and, so far, none of the people who want to be president seem to have noticed.

Today's NewWork News Web Tip: Smart Communities Network (Friday, 10/10/03)
The United States Department of Energy has created the Smart Communities Network because of its interest in sustainable development projects.

Bill to revise pension rules passes the House (Thursday, 10/9/03)
If the bill becomes law, businesses will be allowed to pay less into their pension plans over the next two years.

Good news on the jobless front (Thursday, 10/9/03)
First-time claims for unemployment benefits hit their lowest level in eight months last week.

Company knew of workers' fear of chemical exposure in 1988 (Thursday, 10/9/03)
IBM conducted a survey in 1988 in which workers expressed fear that chemicals to which they were exposed on the job could cause serious illness. Daniel Sorid writes from San Francisco about the case against IBM that goes to trial next week.

California's supermarket squeeze (Thursday, 10/9/03)
Wal-Mart and others are making strong waves in California's grocery business. Randy Dotinga reports that many stores want to cut worker pay in order to better compete with the big chains that have gotten into the grocery sales business and have lower costs all around. Checkout clerks may walk off the job in protest.

Economic reforms seem to be losing momentum in France (Thursday, 10/9/03)
Prime Minister Jean-Pierre Raffarin has been feeling the political heat. Carol Matlack reports from Paris that a variety of reforms that seemed to be progressing only a few months ago seemed to be stalled now.

Flight from American farms (Thursday, 10/9/03)
Fewer young people are staying on the farm, which means that America's farmland is becoming concentrated in fewer and fewer hands. Here's more from Amanda Paulson in Ames, Iowa.

Another migration is going on, according to Sara Miller. After spending some time in the largest cities, immigrants tend to move on, she says.

A chat with one of the SBA's entrepreneurial successes (Thursday, 10/9/03)
Business Week interviews one of the recipients of the Small Business Administration's special advocacy awards.

What it means to become a somewhat weaker president (Thursday, 10/9/03)
While still seen as a strong and effective leader by many Americans, polls show that President Bush has returned to approval ratings more like those before the September 11 terrorist attack than those right after. A weaker president is feared less by other politicians, which helps explain why enough members of Congress seem to feel sufficiently secure that they're willing to defy the President on the drafting of new Medicare rules now in ways they might not have been willing to do earlier.

Similarly, California's Governor-elect Swartzenegger is faced with having to work with a relatively cranky Democratic-controlled legislature in order to have any hope of getting California's budget crisis under control. His landslide victory and his popularity, even among many Democratic voters, provide political capital that will make it easier for him to twist arms in Sacramento. However, he'll have to move fast before the discomfort that so many Californians are feeling with their situation turns into displaced aggression toward Arnold as well.

How will Swartzenegger's victory affect the national political scene? Bush administration strategists are wondering about this too, particularly about whether he will be able to help deliver California's large block of electoral votes to the Republicans in the 2004 presidential election. If that happens and it results in a Bush landslide, Karl Rove's dream of making the Republicans the dominant majority party for a generation or two may be realized, particularly if it is combined with continued ineptness on the part of the Democrats. In TV's "The West Wing," the Leo McGary character, greatly exasperated, says something like, "We Democrats don't need opposition; we do just fine all by ourselves."

However, if the Republicans do become dominant for a few decades, it may be as a party that the current crop of "neo-conservatives" won't recognize. For instance, ideologically, Arnold Swartzenegger could just as well be a Democrat. In fact, his resemblance to William Jefferson Clinton goes beyond the apparent womanizing tendency. Without a Constitutional amendment, Mr. Swartzenegger could not become president, but Rudolph Giuliani could, and he's another unconventional Republican who may play a major role in shaping the party during the years ahead. Similarly, New York City's Mayor Bloomberg ran as a Republican, but has spent most of his adult life as a Democrat. Given the Democratic Party's tendency to give gifts to their opposition, is it time for serious Democrats who are interested in traditional Democratic issues to become Republicans?

Incidentally, given that the Speaker of the House of Representatives is third in line for the presidency, can an immigrant who becomes a member of the House become speaker? We don't know either.

Today's NewWork News Web Tip: SBA's Golden Anniversary Hall of Fame (Thursday, 10/9/03)
The Small Business Administration's Golden Anniversary Hall of Fame recognizes the outstanding success of businesses which have received SBA assistance.

Economists Engle and Granger win the big one (Wednesday, 10/8/03)
The 2003 Nobel Prize in economics has gone to Robert Engle and Clive Granger for their work involving time series. Here's more from Jan Strupczewski in Stockholm.

Resurrection of a fallacy (Wednesday, 10/8/03)
New York Times columnist Paul Krugman says that economists tend to be contemptuous of the "lump of labor" fallacy, but that doesn't mean it's been relegated only to classroom discussion in introductory economics courses. Economist Krugman suggests that each day's news brings it back to mind.

Wetting a Coke worker's whistle (Wednesday, 10/8/03)
A whistle-blower at Coca-Cola will receive $540,000 to settle a wrongful termination suit.

Outsourcing hits U.S. real estate market (Wednesday, 10/8/03)
Sufficient numbers of white-collar jobs are moving overseas to reduce demand for office space. Here's more from Terry Pristin in the New York Times.

Hard times for Hispanics (Wednesday, 10/8/03)
What some are calling a "jobless recovery," others have been calling a "job-destroying recovery." Whatever you call it, the majority of Hispanics who have been trying to enter the American workforce have been unable to find jobs.

Sour notes (Wednesday, 10/8/03)
People who have been "sharing" music on the Internet have been impacting CD sales generally, but for retail stores that specialize in the selling of music, times also have been hard because of all the competition from discount chains, consumer electronics stores, and others. Musicland, which operates Sam Goody and Suncoast Motion Picture Company stores, will shut down 150 of them and lay off 900 workers.

Contract approved at Verizon (Wednesday, 10/8/03)
A new five-year contact has been ratified by members of two unions representing 78,000 workers at Verizon Communications.

Age discrimination in another flavor (Wednesday, 10/8/03)
Typically, when people refer to "age discrimination," they have older workers in mind. However, it isn't always those who are dragging a long past behind them who feel unwanted. Stephanie Armour reports that some people may not be hired or promoted because they're seen as too young. The goal of an economy that simply rewards performance, not whether one is the "right" race, sex, or age, remains unachieved, despite progress on many fronts.

An increasing number of men seem unwilling to put career first (Wednesday, 10/8/03)
"Work-life balance" is on the minds of many working men, as well as working women, according to USA Today's Stephanie Armour.

A fairly unusual worker's comp claim (Wednesday, 10/8/03)
The mother of a man who died at work wants to collect compensation. Problem is, he killed three other workers before killing himself.

Today's NewWork News Web Tip: Nobel e-Museum (Wednesday, 10/8/03)
With the latest Nobel prizes being announced right now, you might be interested in examining the Nobel e-Museum, which contains information about the prize winners, as well as answers to frequently asked questions, and much more.

If you've been waiting for a new job boom, prepare to wait a bit longer (Tuesday, 10/7/03)
A survey conducted by the company that used to be headed by the current mayor of New York City concludes that third-quarter expansion of the U.S. economy will cool again and be insufficient to produce jobs in the numbers hoped for, not only by job seekers, but also by the White House.

Ratification at GM (Tuesday, 10/7/03)
UAW members approved their new contracts with Ford and DaimlerChrysler earlier, but now workers at General Motors have followed suit. John Porretto wonders in the Salt Lake Tribune if union concessions will be enough to allow the Big Three American automakers to compete effectively with overseas companies. However, Danny Hakim reports from Detroit that the UAW didn't get all it wanted in its new contract with DaimlerChrysler either. Issues relating to its efforts to organize Mercedes plants in the U.S. were left up in the air. Meanwhile, though, UAW workers at Deere & Company have approved their new six-year contract.

Better off, but worried (Tuesday, 10/7/03)
A new survey finds that middle-income Americans built up substantial wealth during the recent boom, but half are worried, nonetheless. Here's more from the Atlanta Journal-Constitution.

More layoffs at H-P (Tuesday, 10/7/03)
Hewlett-Packard's third quarter wasn't impressive, so the company that resulted from a merger with Compaq is cutting more jobs in order to cut costs, according to Darrin Schlegel in Houston.

Supreme Court allows class-action suit to proceed (Tuesday, 10/7/03)
Sodexho Marriott Services is being sued by 2,600 current and former workers in what may be the largest discrimination case of its kind, and the Supreme Court has refused to stop the suit.

Open enrollment or open season? (Tuesday, 10/7/03)
Sana Siwolop says that 175 million American workers and retirees will have an opportunity to revise their employer-sponsored health insurance over the next few weeks. With benefits weakening, they will need a strategy, according to the author.

Big numbers expected for Singapore next year (Tuesday, 10/7/03)
Sinapore's Finance Minister expects his nation's economy to grow by as much as 5 percent next year, compared to 1 percent this year. However, unemployment, always a lagging indicator, might reach its highest point in 17 years as well. Job creation will take more time, he says.

Today's NewWork News Web Tip: Singapore's Economy (Tuesday, 10/7/03)
Here are the key statistics that describe Singapore's economy. During the long era of nation-states, Singapore has been essentially a city-state, made conspicuous by its economic success in recent decades.

New free-trade zone in Southeast Asia (Monday, 10/6/03)
Representatives of ten Southeast Asian nations have reached agreement on forming a huge free-trade zone throughout the region by 2020, but some are dissatisfied with the pace, thinking that it should go into effect far earlier.

Bad neighbors in cyberspace (Monday, 10/6/03)
At risk of insulting genuine reptiles, we might say that the reptilian individuals who are responsible for spreading viruses and span are turning a wonderful thing into a feared thing. Jon Swartz reports that an increasing number of companies are tightening control of employee use of email or even abolishing it altogether.

An holistic attitude is taking hold in some American corporations (Monday, 10/6/03)
American corporations have an international reputation for shortsightedness; for having little interest in any action or policy that cannot impact the bottom-line by the end of next quarter, at the latest. Some Asian companies, on the other hand, have serious people working on their strategies for the NEXT CENTURY. Mica Schneider reports that many biz students are preparing themselves for bringing a broader perspective to corporate life and helping to define success in broader terms.

Today's NewWork News Web Tip: National Association of Development Organizations (Monday, 10/6/03)
The National Association of Development Organizations assists regional organizations that serve 82 million Americans in small towns and rural regions and was established in 1967.

Whoops...another look at the jobs data (Sunday, 10/5/03)
It appears that the U.S. job market has been doing more poorly than earlier thought. The U.S. Department of Labor is revising downward some of its estimates from earlier in the year.

Surprise! Maybe the U.S. economy been creating jobs all along (Sunday, 10/5/03)
But in other parts of the world, not in the U.S. The New York Times' Louis Uchitelle says that Labor Department analysts are attempting to quantify the number of jobs America has been sending overseas.

How things look on the occasion of the IRS' 90th birthday (Sunday, 10/5/03)
More people are taking advantage of tax-filing extensions, and that may be undermining confidence in America's tax system. Moreover, people who file for the automatic four-month extension are getting more reluctant to pay their taxes at all. Here's more on the taxing scene at the Internal Revenue Service.

There really are advantages to being old (Sunday, 10/5/03)
Honest. For example, Andrea Coombes reports from San Francisco that employers don't necessarily prefer youthfulness among their workers.

Today's NewWork News Web Tip: Wanted: A National Teacher Supply Policy for Education (Sunday, 10/5/03)
Stanford's Linda Darling-Hammond and Michigan State's Gary Sykes examine the means by which "highly qualified teachers" can be placed in each American classroom, as mandated by President Bush's "No Child Left Behind" legislation. Here's Wanted: A National Teacher Supply Policy for Education: The Right Way to Meet the "Highly Qualified Teacher" Challenge.

Employment up a bit; unemployment stays the same (Saturday, 10/4/03)
When employment increases, unemployment should decrease, right? Nope, not necessarily, and it's because of what the two types of measures are measuring. Jonathan Weisman provides some analysis of last month's results. Unemployment remained at 6.1 percent in September, while the labor force grew, but only ever so slightly.

Bush claims vindication (Saturday, 10/4/03)
Richard Stevenson says that President Bush claims the net increase of 57,000 jobs last month as evidence that his tax-cut approach to stimulating the economy is beginning to work. However, many economists saw indications that the economy was beginning to improve anyway before the President's latest tax cut went into effect.

Anti-globalization violence in Rome (Saturday, 10/4/03)
Organizers expect tens of thousands of demonstrators at the European Union summit in Rome, but only about 50 were involved in setting fire to cars and an employment agency office.

White House report on economics and the environment (Saturday, 10/4/03)
Brad Knickerbocker writes about efforts to reconcile nature and the marketplace. He tells about a new report from the Bush administration that says that regulation of the environment benefits the economy. As Nobel Laureate Roald Hoffmann has pointed out, there is no essential conflict between a healthy environment and a health economy. In fact, in the long-run, the latter cannot exist without the former. "The economy is a wholly-owned subsidiary of the environment," he says.

Unions will have to tell more (Saturday, 10/4/03)
New regulations will require large labor unions to disclose more information about their finances, according to Leigh Strope in Washington.

World's largest free-trade zone plans snagged for the moment (Saturday, 10/4/03)
Brazil and the United States appear deadlocked for the moment, and that may hold up the creation of a 34-nation free-trade zone in the America's, the world's largest. Here's more from Martin Crutsinger.

Why business needs ethnic diversity (Saturday, 10/4/03)
The U.S. Hispanic Chamber of Commerce is holding its national conference in Phoenix, and speakers have been emphasizing the important role of ethnic diversity in business life. In fact, major corporations as well as the American military need for American universities to produce a steady supply of minority graduates if they are to meet their own diversity goals.

Why many older women keep working (Saturday, 10/4/03)
It isn't only the money, but also the benefits, particularly health insurance, that keeps many older women in the workforce, according to David Finkel in North Carolina.

Today's NewWork News Web Tip: Human Capital Formation and Foreign Direct Investment in Developing Countries (Saturday, 10/4/03)
Human Capital Formation and Foreign Direct Investment in Developing Countries is an analysis from the Organization for Economic Co-operation and Development on the best ways to bring developing regions of the world into full participation in the new global economy.

Finally! Some jobs (Friday, 10/3/03)
Although the unemployment rate held steady, there was a net increase of 57,000 jobs in September, the first time in eight months that businesses have added to their payrolls, according to Leigh Strope in Washington. Here's more from Glen Somerville, also in Washington. However, even if there were a net gain of 57,000 jobs each month for a year, the American economy would not have gained back anywhere near a third of the jobs that have been lost from the economy over the past three years. L. M. Sixel of the Houston Chronicle says that government statistics aren't needed for seeing jobless recovery all around.

Meanwhile, many politicians have been trying to pin responsibility for America's hemorrhaging of manufacturing jobs on China, but this Business Week author suggests that China's policy of keeping its currency artificially low is only part of an unpretty picture in the U.S.

Things may be about to get a bit better for corporate employees (Friday, 10/3/03)
Adam Geller reports that a new survey suggests that American corporations are nearing the end of their aggressive cost-cutting period that has been shifting a greater share of the burden of paying for benefits to workers. Here's more on the findings from the new study conducted by Watson Wyatt Worldwide, a D.C.-based human resources consulting firm.

Will Russia benefit from the Kyoto Protocol? (Friday, 10/3/03)
Only in the short-term, according the Russian President. The idea is that Russia will make a lot of money by selling spare quotas of carbon dioxide. But, what happens if the Russian economy takes off and they wants to rebuild and enlarge their smokestack industries?

House indicates support for blocking overtime changes (Friday, 10/3/03)
The Bush administration wants to redefine criteria determining who is eligible for overtime pay, which would have the effect of denying millions of people benefits to which they have become accustomed. The House of Representatives has conducted a non-binding vote to block the rule changes indicating its position in upcoming negotiations with the Senate.

Today's NewWork News Web Tip: Windows on Urban Poverty (Friday, 10/3/03)
Windows on Urban Poverty examines issues relating to the geographic distribution of poverty and comes from the University of Texas at Dallas.

Jobless claims increase, but... (Thursday, 10/2/03)
...A major part of the reason seems to be pent-up demand because of Hurricane Isabel's keeping people away from state offices.

Competition for California's jobs (Thursday, 10/2/03)
Del Jones reports that many companies are ready to leave California because of the high costs of doing business. Other states are doing their best to attract them, he says.

Are candidates pandering to American unions and companies? (Thursday, 10/2/03)
This Op/Ed piece in USA Today says, emphatically, yes! Free-trade is being slammed on the campaign trail, according to this writer's opinion.

Why China doesn't want a stronger yuan (Thursday, 10/2/03)
Chinese exports and employment would be hurt by a stronger Chinese currency, but Frederik Balfour reports from Shanghai that the country's shaky financial system has quite a lot to do with the Chinese government's desire to leave things as they are, despite pressure from U.S. Treasury Secretary John Snow and others to revalue.

Where to go if you want a tech job (Thursday, 10/2/03)
Try the Bangalore region of India, the second-most-populous nation's hi-tech region, where engineering and other technical jobs are plentiful, according to Anshuman Daga. However, you'll have to settle for considerably less pay than you may be used to.

Finance Committee backs off a bit on death benefit issue (Thursday, 10/2/03)
The Senate Finance Committee, in response to expressions of shock from the insurance industry, has changed its collective mind on when benefits from so-called "dead peasant policies" will become taxable.

Workplace climate improves for gays and lesbians (Thursday, 10/2/03)
There seems to be growing acceptance of gays and lesbians in American work settings. Here's more from Gwendolyn Freed of the Minneapolis Star Tribune.

Prudential Securities responds to investigations by firing workers (Thursday, 10/2/03)
Prudential Securities mutual fund trading practices are under investigation by several state and federal agencies. Riva Atlas reports that a number of people have been fired, despite the fact that no one has been accused of wrong-doing at this point.

Voluntary turnover may be about to rise (Thursday, 10/2/03)
As the economy improves, experts expect more talented white-collar people with jobs to begin looking elsewhere, according to Business Week's Louis Lavelle.

Today's NewWork News Web Tip: Flint Sit-Down Strike (Thursday, 10/2/03)
The Flint Sit-Down Strike of 1936-1937 is chronicled in this multimedia presentation.

Layoffs aren't the principal problem (Wednesday, 10/1/03)
According to new government analysis, the U.S. economy's persistent problems have more to do with the low rate at which new jobs are being created than with layoffs. In fact, as Sue Kirchhoff and Barbara Hagenbaugh of USA Today report, new job creation is occurring at its worst rate since the Second World War, and seems to be a principal reason for the precipitous drop in consumer confidence. Here's more from Martin Crutsinger in Washington.

Deal at Deere (Wednesday, 10/1/03)
The current contract between the United Auto Workers and Deere & Company was about to expire, when a tentative new agreement was reached late yesterday. Seven-thousand union workers are affected.

More job cuts at Ford (Wednesday, 10/1/03)
We reported yesterday that Ford Motor Company plans to cut 1,500 contract work