Item for the economics majors out there…

From DSC:
I took a class from Professor Hubbard back in the day at NU…and from Charlie Calomiris (hello to you both if you’re out there and ever see this posting!)  Here’s the prof years later…

Glenn Hubbard -- U.S. at a tipping point, economically-speaking

— originally from DeansTalk.net

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Education ‘the economic issue of our time,’ Obama says in UT speech — from statesman.com by Ralph K.M. Haurwitz

President Barack Obama said in a speech at the University of Texas this afternoon that education “is the economic issue of our time.”

Addressing a friendly and appreciative audience in Gregory Gym, the president sought to underscore the link between long-term economic prosperity and a better-educated population.

“It’s an economic issue when the unemployment rate for folks who’ve never gone to college is almost double what it is for those who have gone to college,” he said. “Education is an economic issue when nearly eight in 10 new jobs will require workforce training or a higher education by the end of this decade. Education is an economic issue when we know beyond a shadow of a doubt that countries that out-educate us today will out-compete us tomorrow.”

Obama said his administration is pursuing a three-pronged higher education strategy: making college more affordable, ensuring that college students – especially those at community colleges, the fastest-growing sector – are prepared for a career and boosting graduation rates.

By The Numbers: New Employment Statistics from the 2008 Business R&D and Innovation Survey – National Science Foundation — via Reid Cornwell on the The Center for Internet Research’s NING-based site

Learning to change report — from Learning Conversations by Mark Berthelemy

“We’ve just published a research report, based on the opinions of senior decision makers among the UK’s largest 500 firms. Here are some of the findings.”

  • The majority (70%) of business leaders fear that inadequate staff skills are the greatest threat to their ability to capitalise on the recovery.
  • More than two thirds of business leaders admit that their under-trained workforce is struggling to cope with expanded job remits following waves of job cuts during recession.
  • … as the economy moves out of the downturn, two fifths (40%) of leaders estimate that at least half of employee skills risk becoming obsolete.
  • Over a third of leaders (36%) lack confidence that their employees have the skills required to deliver the firm’s upturn strategy, with close to half (46%) casting doubt on their L&D department’s ability to provide these learning services.
  • Over half (55%) claim that their firm is failing to deliver the necessary training for recovery.
  • Around half fear for their company’s ability to respond to surges in demand (51%), retrain and redeploy people where required (47%) and identify where current skills are becoming obsolete (49%).
  • More than two thirds (67%) of business leaders are concerned their employees are struggling to cope with expanded remits following job cuts.
  • More than half (52%) describe their L&D function as slow to respond to the changing requirements of their business during economic turbulence.
  • As strategic objectives have evolved, close to half (46%) of senior managers report no significant change in the training delivery to their workforce. Going forward, almost as many (43%) expect no significant change to L&D delivery over the next 2-3 years.
  • The vast majority (82%) of leaders lack confidence that their firm’s L&D strategy and delivery are aligned to the company’s operational strategy.
  • Half (50%) believe that their L&D function is stuck in a ‘business as usual’ mindset.

Another interesting quote here:

“Perhaps L&D needs to rebrand – towards performance consulting… Often performance problems are more around culture, systems, processes and communication. Solve those, and you won’t need to provide training in a lot of cases.”

Evidently…Wall Street continues to act like a casino. These bright folks seem to have lost their inner compass…as yet another article relays:

Dangerous liaisons at IBM: Inside the biggest hedge fund insider-trading ring

Moffat, the senior vice president of IBM’s systems and technology group, was the most prominent tech executive arrested in the federal dragnet that snagged Raj Rajaratnam, founder of the Galleon Group hedge fund. The bust sent tremors through Wall Street, exposing a world of illicit, back-channel dealings between prominent hedge fund managers and senior executives in the high-tech industry. Among those caught in the federal bust were a McKinsey & Co. director, a high-level Intel executive, and the head of New Castle Partners, a hedge fund that was once part of Bear Stearns. So far, 11 of 21 people charged have pleaded guilty.

From DSC:
We are all in this boat together. If our current students continue to hear the messages such as, “Look out for #1” or “Do whatever it takes to get that corner office” or “You are only as successful as you are wealthy”, our collective futures are in trouble.

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Video clip (5.75 MB WMV file)
The above WMV video clip presents a variety of messages/lessons.

Quote:
What you will see in the attached movie clip is the air traffic around the world over a period of 24 hours taken from a satellite.

It is a 24 hour observation of all of the large aircraft flights in the world, condensed down to just over a minute. From space we look like a bee hive of activity. The yellow dots are airplanes in the sky during a 24 hour period.

Stay with the picture or watch it over again and notice the following:
— See the light of the day moving from the east to the west, as the Earth spins on it’s axis.
— See the flow of aircraft traffic leaving the North American continent and traveling at night to arrive in the UK in the morning.
— Then see the flow changing, leaving the UK in the morning and flying to the American continent in daylight.
— See if you realize that it was summer time in the north (by the sun’s foot print over the planet).
— See the daylight pattern moving across the earths surface and that the sun didn’t quite set in the extreme north and it didn’t quite rise in the extreme south.

We are taught about the earth’s tilt and how it causes summer and winter and also the movement of the daylight pattern and until now we have had to just use our imagination to picture what is going on. With this 24 hour observation of aircraft travel on the earth’s surface we get to see the above in actual action…

Remember to watch the day to night….. (day is over in Australia when it starts).

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Study explores student views on the future of business — from Education-Portal.com
Jun 18, 2010

IBM just released the results of their first Global Student Study. The company surveyed college students from around the world, asking them many of the same questions that they asked current executives in their biannual Global CEO Study. The report paints a picture of the attitudes and experiences that are shaping the business leaders of tomorrow.

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Report: Tough times ahead for children of the Great Recession — from edweek.com by Sarah Garland |  The Hechinger Report

More children will live in poverty this year. More will have two parents who are unemployed. Fewer children will enroll in prekindergarten programs, and fewer teenagers will find jobs. More children are likely to commit suicide, be overweight, and be victimized by crime.

This is all according to a reportRequires Adobe  Acrobat Reader released Tuesday by the Foundation for Child Development that measures the impact of the recession on the current generation.

These are the children of the Great Recession, a cohort that will experience a decline in fortunes that erases 30 years of social progress, the report contends. Known as the Child and Youth Well-Being Index, the report predicts that in the next few years, the economy may recover and the unemployment rate may drop, but the generation growing up now could feel the harsh impact of the recession for years to come.

“These are the lasting impacts of extreme recessions,” said Kenneth Land, a professor of sociology and demography at Duke University and the author of the report.

The Odd Couple: “University” and “Business” — from UniversityBusiness.com by S. Georgia Nugent
Moving toward better communication between higher ed leaders and the public

As a reader of this magazine, you were probably not surprised—much less chagrined—by the 2009 publication of a three-volume set of books entitled, The Business of Higher Education (Praeger Publishers, 2009). Nor, I would wager, do you find University Business an unusual magazine title. As the CEO of a college, neither do I.

But we need to recognize that, for many constituencies of the academy not among University Business readers, the phrase “university business” may sound odd, if not oxymoronic. And that is true for at least two reasons.

World Bank opens up datasets — from Bryan Alexander

A large amount of data about the developing world has just been made freely available by the World Bank.

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London School of Economics Public Lectures

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