Lehman Collapse Sends Students Job Hunting
Not only has the Lehman Brothers bankruptcy stung longtimers in the financial world, it is also disrupting the plans of business school students from some of the most prestigious programs in the country. Students from Yale, Michigan, and Emory, among others, are watching their industry collapse, as well as seeing their job offers disappear.
For interns last summer, the mood at Lehman was gloomy, but supervisors rarely betrayed fears of bankruptcy in the future. "We all knew that the situation was pretty bad working throughout the summer," a Michigan senior told the Daily. "But there was always kind of a confidence that we would work it out and things would end up being OK." Now, she is looking for another job after her full-time offer evaporated with Lehman's Chapter 11 filing.
A Yale senior had a similar experience, with Lehman officials telling interns they had no reason to worry. "Things definitely weren't good this summer, but I didn't expect them to get this bad," he told the Daily News. "We were led to believe that by and large, the fundamentals of business were good and things would recover."
Business school career counselors have been scrambling to reach out to affected students and have even heard from some alumni seeking help. With fewer positions available and more veteran bankers looking for jobs, "every student who's interested in banking will take a real serious look at the career they want and the life they want and the risks they take with that choice," said Michigan's business school career development director. Emory's career counselor echoed the sentiment: "This is the time for students...to start considering Plan Bs."
Tags: business school | graduate schools | Michigan State University | Yale University | Emory University | Lehman Brothers
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Citizenship
Reality is that there are only two political parties to support in the United States and one of those (sometimes only by a thin margin)governs the country. The real problem is that too many people vote Democratic because they always vote that way and vise versa for Republicans. End result? Little or no accountability and, hence, poor government. The solution? "T-tro." The initials stand for T hrow t-he r-ascals o-ut. Which "rascals?" In this case, Republicans ... not because they are Republicans but simply because they have been running the country for the past eight years and it does not appear that they have done a very good job. So, OK, what assurance do we have that, if we "T-tro" the Republicans in November, replacement Democrats will perform any better? None, actually, but four years hence they can be taught that "T-tro" works both ways. Accountability is a great management tool; Americans need to employ it with much greater vigor than is currently the case.
To all the electorate of Washington D.C. America, you are requested to help the common investor.
This is America, the land of the poor and the rich get to ride on the jumbo jets
Looking down at their kingdom
To All Those Trusting Souls, that invested in Leman Bro’s.
How the investment bastion of the world Leman Bro’s, has come to be incompetent, in
ONE HUNDRED FIFTY YEARS, plus or minus, who’s counting?
Investors would have bet their FIRST BORN that the business principals of
Investing at such an instruction could be stable, and able to weather a storm.
Instead there emerged evidence of INSANITY in the back rooms of all the WALL STREET pillars.
It comforts the average investor that all of the, public, pendants, gurus, and
High placed executive C.E.O.’s will be covered and made whole and unharmed.
Thus ready to begin a new life and saved by US, tax payer.
These fellows are guaranteed Para shoots of GOLD, made of the finest silk
Providing their future is compared to a heavenly reward.
WHO PROTECTS THE COMMON SHARE HOLDER?
Who makes them whole, allowing a new life for family, children, and collage tuition?
That AMERICA intends to give them, protection and safety of a new life.
That is how the American dream is touted.
That they invested in faith that the SEC. and those controlling the finest instructions in the world keep more than a watchful eye in the direction of safety first.
Not true, the executives got golden parachutes and the watch dogs got their pockets lined with gold.
The American dream found only in the out houses of the great American dream
Michae,l In Clermont Florida, 34711
10-01-2008
From Business to Teaching
As a former vice president in the insurance industry who was on the "wrong end" of a corporate acquisition in 1998, I chose to teach. I teach personal finance and accounting to high school students so that they know enough not to get in over their heads.
I'm proud of my 18.5 years as a successful, ethical insurance broker and I'm equally proud of my 9 years as a teacher. Granted the money is not what it used to be, but I have a job...and great health benefits!!
Don't knock it.
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