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Women will lead Generation Y – what will men do?

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Women will lead Generation Y – what will men do?


I really like alpha males – Hercules is the latest and perhaps greatest example in my line-up. Johannes is another. But these male leaders are not only a dying, but now an unnecessary breed.

Evolution from an industrial to a knowledge economy realizes the day of Hercules – known for strength, dominance, and authority – as fleeting. “Men could become losers in a global economy that values mental power over might,” Business Week argues. The age of force is over.

Issues of dependence and independence, dominance and subordination are largely irrelevant to how emerging young women see themselves, Harvard psychologist Dan Kindlon argues in his book Alpha Girls. “Generation Y is the first generation that is reaping the full benefits of the women’s movement,” he says. “Women corporate leaders blend feminine qualities of leadership with classic male traits.”

Gen Y women have both masculinity and feminity, developing as the best of both worlds. We balance the typically female feeling part of ourselves with the typically male thinking parts. We are powerful hybrids integrating “the intuitive and rational, the tender and hardheaded, the self-sacrificing and self-serving.”

We utilize a “transformational approach that focuses on building a team. The team approach is less hierarchal than the traditional business model. A girl’s primary goal is not to win but to maintain relationships,” Kindlon says.

The way of the alpha girl is the rallying cry for Generation Y. We disdain complex rules and authoritarian structures.

In contrast, men and boys “base their reasoning on how established rules or laws should be applied, rather than on the feelings of those affected by their decisions,” Kindlon reports. “Male children learn to put winning ahead of personal relationships or growth, to feel comfortable with rules, boundaries, and procedures.”

Men and boys with such personality types are not naturally in tune with other people’s feelings, a key to success in the new economy. Leadership that marshals and directs is often observed by young women as part of the dinosaur age.

Gen Y women will lead the new generation to positive and meaningful change. The ascent of women in the workforce will be unprecedented in history, and promises to have far-reaching implications.

We already see more women than men attaining bachelor’s degrees. In 2005, nearly 59 percent of undergraduates were granted to women. By 2050, it is projected that the degree gap will grow drastically.

Jobs are no different. Business Week reports, that “from last November through this April, American women aged 20 and up gained nearly 300,000 jobs, and American men lost nearly 700,000 jobs.” Research also shows that women who are in management make companies more profitable, even among the Fortune 500.

Roles traditionally filled by men – that of lawyers, doctors and managers – are seeing an influx of women. Other male-dominated industries such as manufacturing and construction seem to be perpetually in downturn, while women are found concentrated in upcoming and thriving industries such as education and healthcare.

As men are being hemorrhaged in blue-collar, white-collar, and gold-collar jobs, young women are picking up the slack, becoming both the providers and the glue for families.

The new economy is largely dominated by young women who have unique skills, not by men who have been taught to follow the rules.

“Men are less suited than women to the knowledge economy, which rewards supposedly female traits such as sensitivity, intuition, and a willingness to collaborate,” reports Peter Coy in Business Week. “Men have tended to do better in the hierarchies, following orders and relying on positional power.”

Young men then, seemingly devoid of the meaning and opportunities that once defined them, are left in a prolonged state of adolescence. And this limbo doesn’t bring out the best in young men, columnist Kay Hymowitz argues.

“Men feel threatened by female empowerment,” Hymowitz states in one theory, “and in their anxiety, they cling to outdated roles.”

Today’s young men are “following the line of Peter Pan, ‘I don’t want to grow up.’” Hymowitz argues. “Plus, who needs commitment when there is a fantasy football team league to dominate, the possibility that a gaming product better than the Xbox 360 could be on the horizon, and your live-in girlfriend will have sex with you whenever you want?”

Young men today “suffer from a proverbial fear of commitment,” and this may be the biggest problem – “a tendency to avoid not just marriage but any deep attachments,” leading to a life that is as empty of passion as it is of responsibility, Hymowitz says. For the contemporary guy, it’s “easy to fill your days without actually doing anything.”

The solution? Not a new career, but marriage. Marriage, she says, turns boys into men.

Kindlon agrees. Married men are more successful in work, getting promoted more often and receiving higher performance appraisals than single men. Married men are much less likely to engage in risky behaviors such as drinking heavily, driving dangerously, or using drugs. They are more likely to work regularly, help others more, and volunteer more. Married men also have better immune systems, and are half as likely not to commit suicide.

But women don’t need men like they need us.

“Marriage is generally more beneficial to men than women,” Kindlon reports. “Research found that women who stayed single in their lives seemed to have good mental health, while men who stayed single all their lives did not. Choosing to be single seems to be good for women but not so good for men.”

Role reversal.

Posted in Lifestyle, Relationships, Social Media & Blogs, Work/LifeComments (3)

It’s Unlikely US Will Sink Into Depression

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It’s Unlikely US Will Sink Into Depression


Who says there’s never any good news?

Five experts on the economy say the United States isn’t headed for a depression reminiscent of the 1930s even though just about every day it seems there’s dire news of tens of thousands of people being thrown out of work or business behemoths like Chrysler and GM teetering on bankruptcy.

“I see little risk of a repeat of the Great Depression because we’ve learned from that earlier experience,” says Prof. Thomas Hopkins, an economist at the Rochester Institute of Technology. “The actions now underway in Washington will be on balance helpful in slowing the decline and hastening the recovery.”

The D-word is seldom, if ever, mentioned in news dispatches … possibly for fear of scaring people, or it’s simply too petrifying a possibility to contemplate. But International Monetary Fund managing director Dominique Strauss-Kahn did declare that the world’s advanced nations are “already in depression” after a speech in Kuala Lumpur in early February, and British Prime Minister Gordon Brown used the word “depression” to describe the global economy, though his aides dismissed it afterward as just a slip of the tongue.

In any event, there’s no standard definition of an economic depression. Suffice it to say that grim memories of the 1930s in America … the stock market crash, an unemployment rate of about one-third, farmers being foreclosed by banks, numerous banks failing, and ragtag unemployed former executives selling apples for pennies on the street … give most people enough evidence of what one would be like.

“No, we’re not going into a depression, but we are in a severe recession,” says Prof. Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida. “Comparing the United States in the late 1920s to now is beyond comparing apples and oranges. Some similarities exist but today’s economy is markedly different. There’s globalization of financial markets for one thing, and federal deposit insurance for another.”

At the height of the Great Depression, more than 20 percent of the municipalities in the U.S. were in default on their bonds … generally due to the collapse of their revenues. “Today, while revenues are declining, we’re nowhere near those extreme conditions … less than 2 percent of the nation’s municipal-bond issuers are in default,” says Michael Stanton, managing director of SourceMedia’s Capital Markets Publishing group, which includes The Bond Buyer, the daily newspaper of public finance.

What got us into our predicament?

“Americans have been on a consumption spree that has eaten up all savings and resulted in mortgaging of their souls,” says Rod Klein, a capital financing expert and University of Phoenix (Chicago campus) faculty member. “We believed the value of houses would keep up an explosive growth. Real estate was so alluring that many decided to invest in real estate ventures in lieu of more conservative savings options. A large part of the spectacular growth in real estate values comes from the simple principle of supply and demand. Demand has sunk!”

Klein also points out that the U.S. government, starting in 1977 with enactment of the Community Reinvestment Act and sparked by fundamental changes in 1994 of bank lending practices, “loosened underwriting standards, including the size of the mortgage payment relative to income, credit history, savings history and income verification. A massive amount of mortgages represented subprime ventures which homeowners would be unable to afford if the economy soured.”

As a result, “the states most (currently) affected … Florida, California, Arizona, Nevada … were the ones front and center in the housing market boom,” says Prof. Snaith. “Texas didn’t participate in the housing run-up and has fared well by comparison during the housing bust. However, no one is completely insulated from a recession as deep and long as this one has turned out to be.”

Veteran banker John Jackson, president & CEO of Lending Cycle, Inc., Louisville, Ky., believes that “inflated wages and revenue in the 1990s, combined with easily obtained credit, created an environment that couldn’t be sustained. Once those wages and revenue returned to normal levels, our economy couldn’t continue at the heightened pace. People and companies continued to spend beyond their means.”

What’s getting us out of our predicament is basically a determined effort by the government to energize the economy via the massive bailout bill. “We’re seeing a lot of rapid and dramatic policy action to prevent things from getting worse,” says Prof. Snaith. “As for improvement, things have to stop getting worse before they can get better. There are some signs of that … we’re not seeing thousand-point swings in the market. We’re out of the panic mode.”

One danger as the U.S. bounces back, if indeed it does, is inflation resulting from all the forceful government activity.

“America will face chronic inflation owing to immense government and private debt burdens,” Klein predicts. “At this time, the two sectors of the economy owe in excess of $100 trillion, half the debt to units of governments. The government portion consists mainly of Social Security and Medicare/Medicaid program obligations. Compounding this burden is the diminishing savings Americans have to meet retirement or personal debt obligations. Our citizens used to enjoy a high rate of savings. Not any more.”

Prof. Hopkins notes that “the expanded rate at which the Fed is attempting to ease credit does indeed create a risk, once recovery begins, of ratcheting inflation rates upward. But the Fed is equipped to swing into a credit-moderation role and should be able to forestall that problem from getting out of hand. At present, of course, there are more signs of price declines than increases, and deflation is just as damaging as inflation. But I am optimistic that the Fed will be able to navigate us between both extremes.”

And the best possible outcome?

“We have the opportunity to emerge stronger and smarter,” says Jackson. “I am optimistic about our county’s future.”

By Gerry Storch

Gerry Storch is editor and administrator of http://www.ourblook.com , a political discussion/media analysis website that fills the gap between a blog and a book. The five economic experts mentioned above contributed Q&A articles placed on the site as part of a project on whether we’re headed for a depression, the pros and cons of the massive bailout bill and whether governments should bail out newspapers. Mr. Storch was business editor and sports editor of Gannett News Service, a feature writer with the Detroit News and Miami Herald, and Accent section editor and newsroom investigative team leader at the News. He holds a B.A. in political science and M.A. in journalism, both from the University of Michigan.

Posted in Investing Tips, Managing MoneyComments (0)

To Bail or Not to Bail…That is The Question

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To Bail or Not to Bail…That is The Question


Another week another big bailout plan hangs in the balance. This is starting to feel like a really bad, melodramatic soap opera already.

This week it’s the Big 3 auto makers from Detroit who have extended their hands, trying to make a grab into big brother’s pocket: Ford, GM and Chrysler. Deciding whether or not to bail out the biggest three auto makers in the U.S. has been a daunting challenge for lawmakers in the lame duck Congress, where the rescue plan is stuck in the Senate after days of deliberations. Even the lame duck President does not want to make any commitments.

(From Yahoo Finance)
“Senate Majority Leader Harry Reid, D-Nev., canceled plans Wednesday for a vote on a bill to carve $25 billion in new auto industry loans out of the $700 billion Wall Street rescue fund. The Bush administration and congressional Republicans have rejected Democrats’ plan to dip into that pot of money. Warning of economic disaster, a bipartisan group of senators from auto industry states are trying to reach a deal on an alternative package. If an agreement can be reached, Reid said, the Senate still could vote on it as part of a measure to extend jobless benefits.”

All three CEO’s from the respective companies painted a grim picture of their financial position, despite having flown in to the two day hearings on their private corporate jets and expensive suits. Their claim, “Detroit’s automakers, hurt by a sharp drop in sales and a nearly frozen credit market, burned through nearly $18 billion in cash reserves during the last quarter, and GM and Chrysler both said they could collapse in weeks.”

The proposed legislation, now on life support, calls for the U.S. government to extend a 10 year, $25 billion loan to the companies. But, it is unclear where the government would lie in the pecking order of creditors the companies already have (ie. in case of default).

Frankly, the capitalist in me thinks they deserve to fail, as heartless as that sounds. Any MBA student from a reasonably reputable college understands the importance of maintaining a nimble corporate strategy and competitive advantage. Where have these smart guys been the last ten years as the Japanese automakers little by little encroached on their market? They lagged in innovation, technology and pricing. The albatross around their neck, the union known as the UAW (united auto workers), has systematically made their costs of production, labor, etc. unreasonably high in an increasingly competitive global marketplace. Something had to give. Either you make better cars, invest in fuel efficiency or cut your prices….otherwise, you are toast! Fast forward to today, when Americans have cut back on spending, banks have stopped lending as vigorously and consumer demand just dropped off a cliff. America cannot keep subsidizing companies whose leaders are blatantly incompetent, stupid or just plain greedy (or some combination thereof).

Now, I’m very sorry about the prospects of 1 to 3 million innocent people losing their jobs and potentially experiencing pension defaults. The impact could spell considerable discomfort in the short term to the economy and the financial markets. But, a bailout of these companies is not justified. Who’s next….the airlines, the farmers, the mid sized manufacturer in the industrial parks of Hialeah Florida, the corner flower shop? Give me a break!! As far as I’m concerned….farewell big 3…pigs get slaughtered and now it’s your turn to go. Good luck in Bankruptcy court.

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Women will lead Generation Y – what will men do?

Tags: , , , , , ,

Women will lead Generation Y – what will men do?


I really like alpha males – Hercules is the latest and perhaps greatest example in my line-up. Johannes is another. But these male leaders are not only a dying, but now an unnecessary breed.

Evolution from an industrial to a knowledge economy realizes the day of Hercules – known for strength, dominance, and authority – as fleeting. “Men could become losers in a global economy that values mental power over might,” Business Week argues. The age of force is over.

Issues of dependence and independence, dominance and subordination are largely irrelevant to how emerging young women see themselves, Harvard psychologist Dan Kindlon argues in his book Alpha Girls. “Generation Y is the first generation that is reaping the full benefits of the women’s movement,” he says. “Women corporate leaders blend feminine qualities of leadership with classic male traits.”

Gen Y women have both masculinity and feminity, developing as the best of both worlds. We balance the typically female feeling part of ourselves with the typically male thinking parts. We are powerful hybrids integrating “the intuitive and rational, the tender and hardheaded, the self-sacrificing and self-serving.”

We utilize a “transformational approach that focuses on building a team. The team approach is less hierarchal than the traditional business model. A girl’s primary goal is not to win but to maintain relationships,” Kindlon says.

The way of the alpha girl is the rallying cry for Generation Y. We disdain complex rules and authoritarian structures.

In contrast, men and boys “base their reasoning on how established rules or laws should be applied, rather than on the feelings of those affected by their decisions,” Kindlon reports. “Male children learn to put winning ahead of personal relationships or growth, to feel comfortable with rules, boundaries, and procedures.”

Men and boys with such personality types are not naturally in tune with other people’s feelings, a key to success in the new economy. Leadership that marshals and directs is often observed by young women as part of the dinosaur age.

Gen Y women will lead the new generation to positive and meaningful change. The ascent of women in the workforce will be unprecedented in history, and promises to have far-reaching implications.

We already see more women than men attaining bachelor’s degrees. In 2005, nearly 59 percent of undergraduates were granted to women. By 2050, it is projected that the degree gap will grow drastically.

Jobs are no different. Business Week reports, that “from last November through this April, American women aged 20 and up gained nearly 300,000 jobs, and American men lost nearly 700,000 jobs.” Research also shows that women who are in management make companies more profitable, even among the Fortune 500.

Roles traditionally filled by men – that of lawyers, doctors and managers – are seeing an influx of women. Other male-dominated industries such as manufacturing and construction seem to be perpetually in downturn, while women are found concentrated in upcoming and thriving industries such as education and healthcare.

As men are being hemorrhaged in blue-collar, white-collar, and gold-collar jobs, young women are picking up the slack, becoming both the providers and the glue for families.

The new economy is largely dominated by young women who have unique skills, not by men who have been taught to follow the rules.

“Men are less suited than women to the knowledge economy, which rewards supposedly female traits such as sensitivity, intuition, and a willingness to collaborate,” reports Peter Coy in Business Week. “Men have tended to do better in the hierarchies, following orders and relying on positional power.”

Young men then, seemingly devoid of the meaning and opportunities that once defined them, are left in a prolonged state of adolescence. And this limbo doesn’t bring out the best in young men, columnist Kay Hymowitz argues.

“Men feel threatened by female empowerment,” Hymowitz states in one theory, “and in their anxiety, they cling to outdated roles.”

Today’s young men are “following the line of Peter Pan, ‘I don’t want to grow up.’” Hymowitz argues. “Plus, who needs commitment when there is a fantasy football team league to dominate, the possibility that a gaming product better than the Xbox 360 could be on the horizon, and your live-in girlfriend will have sex with you whenever you want?”

Young men today “suffer from a proverbial fear of commitment,” and this may be the biggest problem – “a tendency to avoid not just marriage but any deep attachments,” leading to a life that is as empty of passion as it is of responsibility, Hymowitz says. For the contemporary guy, it’s “easy to fill your days without actually doing anything.”

The solution? Not a new career, but marriage. Marriage, she says, turns boys into men.

Kindlon agrees. Married men are more successful in work, getting promoted more often and receiving higher performance appraisals than single men. Married men are much less likely to engage in risky behaviors such as drinking heavily, driving dangerously, or using drugs. They are more likely to work regularly, help others more, and volunteer more. Married men also have better immune systems, and are half as likely not to commit suicide.

But women don’t need men like they need us.

“Marriage is generally more beneficial to men than women,” Kindlon reports. “Research found that women who stayed single in their lives seemed to have good mental health, while men who stayed single all their lives did not. Choosing to be single seems to be good for women but not so good for men.”

Role reversal.

This post also published at Brazen Careerist. 18 more comments, opinions and viewpoints there.

Rebecca Thorman (www.modite.com) gives career advice for the next generation of workers. Barely out of college, Rebecca job-hopped her way to becoming the Executive Director of MAGNET, an organization dedicated to attracting and retaining young talent in her region. During that time, she also began authoring the blog Modite, featured in several media outlets including the New York Times as the key community for Generation Y leadership. Rebecca is known for writing candidly from experience.

Posted in Business 101, Career, Highlights, Work/LifeComments (8)

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