Word: turnoveritis
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The New York investment bank "machines," with thousands of analysts, have a very high rate of turnover. Recent graduates accept positions as a way to gain work experience before business school, and they aren't expected to stick around.
But shortages are also appearing in the least-skilled jobs. "You drive around and every fast-food restaurant has a HELP WANTED sign hanging in the window," observes Jack Kyser, chief economist at the Los Angeles Economic Development Corp. Such signs also decorate the grocery stores, clothing boutiques and delicatessens...
MacFarquhar said the department must address the vacancies created by departing professors, including the turnover of some junior faculty. He also pointed specifically to the department's loss of Thomson Professor of Government Morris P. Fiorina--who has accepted a post at Stanford--as a departure which creates a gap...
Harvard's next goal would not come for another 18 minutes, and sandwiched between those tallies was a Yale goal scored by senior attackman Brian Shure, who converted a fast break triggered by a Harvard turnover.
So the existing system may have been stretched about as far as it will go. That is why ideas like privatization are being discussed seriously for the first time outside libertarian and conservative think tanks. Critics have warned that investors expecting big returns may be sobered by enormous administrative costs...