HIGHER ED: HELPING BUILD BUSINESS

Redecorating Big Business

Have you ever wondered how big a role colleges play in the local economy? According to USA Today, last year’s college dorm redecorating tab was $3.6 billion. Parents spend from $3000 to $5500 per room in decorating and furnishings. Nothing beats a well-appointed room for entertaining guests. It’s no wonder kids move back home after college; it’s a hard lifestyle to give up!

Are You Sure That’s All?

High schools attempt to send at least 60 percent of each graduating class to college. Every year thousands of teenagers move from the 12^th to the 13^th grade. So how many people have college degrees? According to the 2000 US Census, only 24.4 percent of all adults over 25 years old have at least a bachelor’s degree. Sadly, the majority of those high school hopefuls don’t finish year after year. (But, they’ve got a great dorm room while they are there!)

Why Get Elected?

Members of Congress will only work about 90 days this year. That’s down from 134 days in 1980. Add to that their 6-figure salaries and you have the ultimate incentives for working hard to get your votes. Of course, there are other significant reasons such as the nation’s best health care system and other perks both legal and otherwise. With that lifestyle, it is easy to understand the disconnection between our elected officials and the average US citizen.

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GROWTH <> LEADERSHIP <> EXCELLENCE

© 2006 3 Minute Learning LLC

WHAT’S A NAME WORTH?

Schools Sell Naming Rights for Cash

Are naming rights to libraries, gyms or cafeterias a financial boon for schools? Schools from California to Massachusetts are selling the right for individuals or organizations to name a part of a building or athletic field. Money paid can range from $5000 for an English classroom to $400,000 for athletic facilities. Once again it looks like athletics will gain more statue as its properties are more lucrative!

If these funds were being paid directly to outstanding loans that have ballooned over the years in nearly very district, the one-time cash windfall makes sense. Unfortunately, many of you will suspect as I do that the money will be spent in a way that the result will create more long-term debt.

Property taxes in Pennsylvania averages $1010 per person, slightly below the US average of $1086. The range per capita (2004 data) has New Jersey “first” at $2099 and Alabama “last” at $367. This data begs the question, “Are high taxes wrong for our society?”

If you are retired or plan to retire, Alabama makes a good choice because of its low property taxes. Provided that taxing trend is not universal, you should expect decent roads and other infrastructure maintenance, social services, emergency services and hospital care. Chances are, “you get what you pay for.”

For example, New Jersey schools are highly ranked in the US and generally are labeled as one of the best in educational achievement. Alabama ranks as one of the worst states in educational achievement. That state is joined by several other low tax states such as Louisiana, New Mexico and West Virginia.

Also, the numbers above don’t reflect taxes as a percentage of personal income. Higher taxes along side of higher incomes take a smaller “bite” out of discretionary income. Here, New Jersey ranks 37^th in the nation or near the bottom. Basically affluence attracts more quality and taxes are inconsequential.

More About Men and Women

The percentage of doctorates awarded in sociology has shown a shift from men to women. In 1973, 74 percent of doctorates went to men and 26 percent to women. In 2003, men accounted for 41 percent and women 59 percent. The 2003 numbers represent an 11 percent increase in doctorates awarded to women since 1993.

In 1980, medical doctorates were awarded to 11,616 men and 3497 women. In 2004, 8565 men and 7256 women earned an MD.

Note: Data from USA Today July, 2006

It looks like women are ready to rule in every phase of society. The real question is will they accept the new role of men that looks to be a “catch as catch can” filler role? So far, women have shown a prejudice towards mew who appear to be under-prepared and under-educated.

Note to men: get a good education, stay in school for a lifetime and learn how to say “When would you like that to be done?” Male chauvinism isn’t just over, it’s been destroyed!

Is Nothing Sacred?

Elizabethtown College fired its religious studies chairman after he was arrested in an Internet child-sex sting. He was charged with trying to arrange a meeting with a supposed 12-year old girl (USA Today, 07-31-06).

Maybe he never got past the first few chapters of the Old Testament where pre-teens were considered for marriage? Of course, the life span was considerably shorter then than today. Plus, our society totally agrees that relationships with youngsters are wrong. He probably didn’t see the emails about sexual predators are not welcome in this country.

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GROWTH <> LEADERSHIP <> EXCELLENCE

© 2006 3 Minute Learning LLC

CHARITY OVER INHERITANCE

How Generous Are You?

How much do parents owe their children? Warren Buffett’s decision to give billions of dollars to the Bill and Melinda Gates Foundation is the most magnanimous cash gift in the history of mankind. He chose charity over his children.
Buffett apparently believes that, in life, he has given his 3 grown children the start they needed to be successful. Beyond that, Buffett feels his children’s future wealth must be earned.
Parents generally provide a safe, healthy, and happy home environment for their families. They are usually supportive parents encouraging their children to grow and meet the demands they will face in adulthood. Parents often instill a good work ethic filled with determination and the ability to deal with set backs and some failures.
Urban sprawl is the result of parents attempting to find safe and upscale neighborhoods, schools and social outlets for their children. The moves put more pressure on parents to commute to and from work. It also increases the likelihood of isolationism from living in “starter castles” surrounded by large lots. But this is the price parents are willing to pay for their children.
As children approach the college prep years in high school, parents get involved in finding funds and schools to meet their child’s needs. They spend summers traveling to visit campuses, talk to financial advisors about payment options and work to understand SAT/ACT testing. Parents get their first break from raising a child once he or she is dropped off at school for freshman orientation.
If all goes well at college, the best outcome is a high paying job that keeps the graduate independent and living on their own. But, the reality is that over half of graduates, and nearly all non-graduates, return home to live with mom and dad. Work is hard to find and the cost of living makes it impossible to pay school loans and the rent in the same month.
Hence, parents keep supporting and giving to their “kids.” If one or both parents die prematurely, they may never see their kids on their own. So, after years of support, should you also leave your estate to your kids to split and enjoy?
Or do you do a “Buffett” and give your estate to charity and give someone else a chance to be successful?
Side thought:
For centuries in the US it was not uncommon for multi-generational families to live together in the same house. Some cultures, like the Samoans, still adhere to the multi-generational approach to family life. With generations spanning all age groups, the learning and sharing that goes on in these homes is special with long term positive outcomes. Considering the millions of children home alone as parents work multiple jobs or commute several hours, the idea that other adults are with the kids must be very comforting.
If little junior or sissy returns home after college because of debt or lack of a job, is that really “bad?” Considering the hefty size of most upper and middle class homes, the addition of family members is not as traumatic as the “old days” of sharing one bedroom. Creating homes with multi-generational families may be an answer to the economic downturns that have plagued US families for the past 40 years. With the kids working (even at minimum wages), it will help offset rising costs and other financial issues that families living apart cannot resolve.

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GROWTH <> LEADERSHIP <> EXCELLENCE
© 2006 3 Minute Learning LLC

GIRLS RULE

More About Underachieving Boys

This topic is no stranger to this column: where are the boys? College admissions for males have dropped to 42 % and is seen going lower. Nearly 80 percent of high school drop outs are male. And, most sad, the current suicide rate for boys is 5 times the rate for girls.
Being smart is not cool and boys have made this attitude their mantra. The new culture of “hip-hop” with its message of easy money and disdain for discipline is as prevalent among white males as any ethnic group. With males’ natural inclination to be more boisterous and physical, it is no wonder that over 80 percent of discipline problems in schools belong to boys.
Add to the above the final ingredient of sports and the coddling that comes with being a good athlete and the teacher has little chance of closing the gender gap. Men for decades have taken boyish charm and “firm handshakes” to create job opportunities in manufacturing, construction or other physically demanding jobs. The new world order demands “smarts” in a technology driven environment and that message has been broadly embraced by women but not men.
Experts are suggesting such things as:
1. Hire more male teachers especially in communities where a male presence, such as a father figure is missing;
2. Create same sex schools where the curriculum can be tailored to the learning needs of male students;
3. Start boys one year later in kindergarten to provide more maturity in later years;
4. Create more attitude building programs that reward all males not just athletes.
The idea that boys won’t or can’t learn may be a cultural myth. American-born Asians of both sexes graduate at a rate 8 to 10 percent higher than all students. Asians also dominate graduating from college and hold over 50 percent of all conferred diplomas in the US according the 2003 US Census.
The difference is the attitude of parents toward education in Asian homes versus that of white parents. As soon as white parents and their children believe that the world will continue to thrive without them, attitudes toward education will revert to the dedication seen in the years following World War II.
Thinking is the new economy.

The only reason some people get lost in thought is because it’s unfamiliar territory. --- Paul Fix, actor

Are Dropout Rates Causing Watered Down Curricula?

With less than 70 percent of all students graduating high school this past year, will school administrators begin to lower standards and make it easier to graduate? Who owns this problem of students not completing school? Is it really a learning issue or a cultural issue? Will lower standards undermine those who do apply themselves in school? Is it a problem of too much despair and not enough hope?
Graduation rates by ethnicity:
Asian: 77%
White: 76%
Hispanic: 56%
Black: 52%
American Indian: 47%
Many questions, many facts, many theories but few answers.

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GROWTH <> LEADERSHIP <> EXCELLENCE
© 2006 3 Minute Learning LLC

THE DIRTIEST JOB

Germ-Phobics Need Not Apply

According to the Discovery Health Channel, the occupations that expose people to the most bacteria that cause illness are --- Teachers! Doctors are fifth on the list of exposure, behind such innocent occupations as banker and accountant. The CDC estimates that 1.5 million cases of acquired infections occur each year. Lost productivity due to illness is estimated at $10 billion per year.
So if you are a teacher and reading this interesting tidbit, get ready for your 2-3 colds this year. The little (or not so little) rug rats that you over see every day are waiting to spread their joy around. And do your co-workers and the other students a favor and stay home for a day or two until you are not sneezing or coughing on a regular basis. Unfortunately for your family, the incubation period where you are contagious occurs before the symptoms of a cold show. Make your apologies and some hearty chicken soup (definitely shown to be more helpful than most cold remedies!). Use tissues and wash hands frequently even after you are feeling better.

High Cost of Bad Hire

When an employee doesn’t work out, the costs involved such as recruiting, training, severance, lost productivity and the search for a replacement, is 2-3 times the annual salary for that position. For “high-end” positions, the loss can be as much as 5 times the salary. (By the way, the US median salary is about $42K.)
This is one of those factors not accounted for when companies slow hiring. Human resource people simply cannot pick the right candidates with high enough proficiency to avoid being wrong too often. This means that companies are slow to hire and slow to fire. One solution is to use the Workforce Investment Act that offsets salaries during training.
Another is to place people in an extensive orientation program. Once hired, companies can test people for reading and math skills, observe interpersonal interactions and account for such easily measurable factors such as timeliness, courtesy and communication efficiencies. As most companies have a 90-day no-fault policy, bad choices can be identified and eliminated.
The problem in most companies is the placement of new employees without orientation or a mentor. By the time incompetency becomes obvious, a year or more may have passed and now the company’s loss is much greater and cutting the employee may be more difficult. Productivity has definitively been affected and people around the incompetent worker may have also had diminished efforts.
The hiring process tries to be thorough but it is too easy to miss the right person. Mistakes can be corrected through an orientation program.

Annual Grocery Bill

According to the US Census, annual spending for groceries is highest in the Northeast ($6049) and lowest in the South ($5142). Initially, the numbers seem to make sense as colder climates means people are indoors more often and probably eat more often. But, the West at $6051 and the Midwest at $5338 confuse that logic. The West is certainly warm and as health conscious as anyplace in the south while the Midwest is cold, much colder considering Upper Michigan, Minnesota and the Dakotas, than the Northeast.
I guess the bottom line is you are looking for lower cost of eating, move to the South or the Midwest.

Letterman Fun

From the famously funnyman David Letterman:
1. The longest yard ever measured was 3 feet, 2 inches
2. A pound of feathers is 2 ounces lighter than a pound of cement
3. Canada is an Indian word for north of the border
4. It was so hot in Washington DC yesterday that President Bush spoke to the NAACP just for the cold shoulder!

Visit www.3MinuteLearning.com
GROWTH <> LEADERSHIP <> EXCELLENCE
© 2006 3 Minute Learning LLC