Professor Elam

says it is the worst hiring climate since 2002, the last time the Dow dropped to 7,000. Indeed it is much worse than that because the Dow is still dropping. We have taken out the half way point from the 1932 low of 41, virtually zero to 14,000. NO one knows where the ultimate low will be. 

As we discussed in Ethics class today, we have you do presentations and papers in class to prepare you for this eventuality.  On a job interview you will be sized up in the first five minutes. Your promotion may well turn on the one page memo you write about evaluating a section of the firm's business. This is the time to experiment and stretch yourself, plan on making the mistakes here in class,not on the job. that is why we are here. Yes I realize it is not alway comfortable standing there in front of the class, but hey, we are all pulling for you. 

I would liken this to 1974-74 when the Dow bottomed in December 1974 at 577.  But relax we are not that far down, yet…