BUSINESS Water Project Haitian Release Aaoffett Doesn't Show in Last Phase Rule Faces Appeal for Anti-Highway Rally Big-Buck Professionals Face Income Squeeze
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7 • 20 - MANCHESTER HERALD, Tues., June 29, 1982 BUSINESS Water project Haitian release AAoffett doesn't show in last phase rule faces appeal for anti-highway rally Big-buck professionals face income squeeze . page 3 . page 4 . page 22 sion — as far as economics go — is in “big trouble." The because of the automation of the prescription process. Four passengers are in a plane — the president of the chief reason: Fluoride is significantly reducing vavities. United States, the world's smartest man, a priest and a IMAGINE BEING A petroleum engineer (with an And dentists — who earn an average $55,000 a year — average $53',250 annual income). Sure sounds hippie. Suddenly the plane catches fire. But, alas, are heading in rising numbers to shopping mall “volume Cool tonight; there’re only three parachutes. Dan Dorfman clinics" which undercut traditional prices by about 20 to prestigious. Well, that oil glut has prompted many Manchester, Conn. The president grabs one of them, and before jumping 30 percent. Also adversely affecting dental economics engineers who left major oil companies to join wild sunny Thursday out of the plane explains: “I owe it to the American peo catters to seek their old jobs back. And there are in Wednesday, June 30, 1982 Syndicated are the $100,000-plus of equipment costs for starting den dications that incomes could be on the skids. Example: ple to survive and serve out my term." Right behind tists. — See page 2 him jumps the world's smartest man, who declares Colum nist In the past, company recruiters had only a 30 percent Single copy 25(C Indicative of the increasing industry pressures is the acceptance rate when they pitched engineering lUrralft himself, "an irreplaceable asset of humanity." The response to a recent mall advertisement for a dentist at priest stares at the hippie, swallows a few times, and graduates. That rate has now swelled to 70 percent, and an unbelievably low salary - $14,000 a year. The ad, Standard Oil of Indiana even had to rescind some job says: "My son, I'm in God's hands now—1 want you to would you believe, drew over 300 applicants. have the last parachute." To which the hippie responds: A similar incident occurred in the legal profession offers. , "Hey, man, that's cool, and wow — really religious. But If you’re thinking of becoming a veterinarian — the where some 450 lawyers applied for a single job at one of average current $37,000 yearly income could shrink a bit hey. there's no problem; there's a parachute for each of that pay an average of $18,000 a year - or collectively the large firms. , us. The world's smartest man just jumped out of the more than $1 million annually for IF s insights. IF is raising the prospects of a glut in the face of in the future. The reason: The growth of the pet popula plane with my knapsack." stepped-up aggressive advertising of low-cost legal ser tion is declining because of (1) more working wives and Ben Goodspeed, one of the founding partners ol NOW TO SOME specifics of the mounting pressures (2) inflationary pressures which have pushed product on professionals. vices, an existing lawyer population of 535,000 (of which prices considerably higher. Against this background, Inferential Focus, relates this bit of humor in focusing First to doctors, who earn an average of $74,500 a only 439,000 are actually practicing law) and reduced Israel: PLO there’s a surplus of veterinarian graduates. in one society's rapidly growing disenchantment with government controls (which has already resulted in at 3 Finally, observes IF, even MBAs are not being wooed the so-called brilliant "specialist" or "professional" — year, j ,. • • • torneys being let go who worked on the IBM and Ma Bell not only in supply-demand factors, but in changing A growing skepticism toward physicians is as feverishly as in the past. Granted, the recession is a , dramatically illustrated by the increasing number of antitrust cases). big factor — but another may be the growing criticism public attitudes. Americans who are taking health care in their own The end result, as IF sees it, could be pressure on that average $70,000 annual salary that lawyers command. of their training. Increasingly, MBAs are being IN OTIIKK VtOKD.S, the message we were given hands. This can be seen in the growing demand for self criticized for being overly trained in methodology at the when we were kids, namely, that to be successful in iife diagnostic kits, as well as sharolv increasine sales in a can leave INTERESTINGLY, several observers of the legal expense of their ability to effectively use their intuition all you had to do was become a professional (like a doc host of books on medicine, including the Merck manual scene blame our decline in world business leadership on and vision. tor o ra lawyer), may no longer be the case. and the Physicians' Desk Reference. our restrictive legal system. Japan, for example, has But despite the diminished reliance on doctors, THE IMI’LIGATIONS of all of this pressure on Clearly, a growing number of well-regarded only 20,000 lawyers. professions — with proven big-buck incomes — are un observes Goodspeed. their ranks continue to swell as Remember when we were kids and bpilt castles in the professionals? der pressure; the economics appear to be in the early medical schools grind out more and more graduates. In For starters, according to IF, reduced costs of sand. And some of us thought of constructing empires. professional services, as the computer replaces an in stages of deteriorating growth. And we arc not just turn, their numbers are augumented by those medical One such prestige job in this context — an architect. Oh, with weapons creasing number of jobs. Business will likely use more talking about the current recession. students who, though denied admission to U.S. schools, to be a famous builder. Well, the architect — who All of this may be bad news if you're graduating this have completed their studies abroad. As a result, com generalists and the educational system, particularly at averages a $31,429 annual salary — is now feeling the By Julie Flint "They (the Palestinians) will leave June from law, medical, architectural or dental school. petition is forcing more physicians with specialty sting of the computer (which is depressing employee the graduate school level, will put more emphasis on in Chances are, according to Inferential Focus, that you training to locate in smaller, less economically thriving terdisciplinary learning (a working knowledge of many United Press International Beirut in a day or two. demand). A PLO official in Moslem west Beirut may be hard pressed to find a job Ditto for MBAs towns that weren't previously served. For example, CAD-CAM, a computer-aided design different specialties). Some overall business implications: )1) reduced de Israel offered to let Palestinian said the guerrillas were prepared for an petroleum engineers, pharmacists and veterinarians. One result, quips Goodspeed, is that you no longer system, can reduce by 10 times the amount of time guerrillas leave besieged west Beirut Our bearer of these ill tidings is a New Yo.rk-bascd have to consult Ripley's "Believe It or Not " to find doc mand for professional office space, (2) slowing growth Israeli attack. needed to manually draw engineering plans. One West for retailers catering to the high-rpiced segment and (3) with their “personal weapons” if they “We’re ready for it,” the official said. firm that essentially seeks to piece together — through tors making house calls. Coast architect notes that seven years ago his firm quit Lebanon for good, but a PLO official extensive reading by its staff of 108 diverse publications Our researcher admits he hasn't spotted any doctors less than robust results for the firms that have rushed “They actually believe once they kill the employed 12 architects; now (thanks to CAD-CAM) into the financial services area to capitalize on those declared his organization ready for bandleaders the band is dead.” around the world — bits of information that can be in on the unemployment line — but he says signs are clear revenues have quadrupled, but only two architects re bloody all-out street fighting. dicative of change or the beginning of a new trend. Ob that slowing income growth is in store for this profes supposedly rising incomes for the professional. The official claimed one-third of the main. In Christian east Beirut, the powerful executive committee of the PLO is viously IF must be doing something right. The planning sion. The computer is also taking its toll on the average No one, by the way, is predicting, the demise of the specialist — certainly not IF. But, as Goodspeed Israeli-allied Lebanese Front rejected usually outside Beirut, so even a staff of the White House, Morgan Guaranty Trust and $25,000-a-year pharmacist. Jobs are being eliminated Palestine Liberation Organization Chair Getty Oil are just a few of the approximately 75 clients II■'•S KI'.SIvVRC.II indicates that the dental profes explains it, “the handwriting’s on the wall. The successful attack on Beirut would not professionals are in growing trouble economically and man Yasser Arafat’s proposal to in liquidate the PLO leadership. tegrate some of his 6,000 guerrillas into In rejecting Arafat’s proposal to in even a strong economic recovery is not going to bail the Lebanese army before evacuating them out . ” tegrate the PLO into the Lebanese army, fin Brief- Expert; Gas, oil supplies the rest from Lebanon.