THE NEWS HACK'S CREED:
I know more than you.
I make lots more money than you.
I'm smarter than you.
I'm sexier than you.
I appear on TV all the time.
I work ten minutes a day.
I rule the universe.
I'm going to live forever.
You are an idiot.
THE NEWS HACK'S CREED, No. 2:
A lie isn't a lie when it tells THE TRUTH.
THE NEWS HACK'S CREED, No. 3:
I've come to realize that the looseness of the journalistic life, the seeming laxity of the newsroom, is an illusion. Yes, there's informality and there's humor, but beneath the surface lies something deadly serious. It is a code. Sometimes the code is not even written down, but it is deeply believed in. And, when violated, it is enforced with tribal ferocity.
--JOHN "OMERTA" CARROLL.
THE NEWS HACK'S CREED, No. 4:
News isn't news when we don't report it.
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While the unemployment rate dropped to 9 percent in January, from a two-decade peak of 10.1 percent in October 2009, many of the jobs people are now taking don't match the pay, the hours, or the benefits of the 8.75 million positions that vanished in the recession, according to Paul Ashworth, chief U.S. economist at Capital Economics in Toronto....
While the number of openings for food preparation and serving workers will grow by 394,000 in the decade ending in 2018, the average wage is only $16,430 including tips, based on 2008 data. Meanwhile, the number of posts for financial examiners, who work at financial-services firms to ensure regulatory compliance, will expand by just 11,100. The average pay for examiners is $70,930.
Lowe's (LOW), the second-largest U.S. home improvement retailer, typifies the reshuffling of the U.S. workforce. The chain, based in Mooresville, N.C., said on Jan. 25 it is eliminating 1,700 managers responsible for store operations, sales, and administration as profit growth trails that of the larger Home Depot (HD) chain. Meanwhile, Lowe's said it will add 8,000 to 10,000 weekend sales positions and is creating a new assistant store manager position.
The trend is troubling for the country's long-term prospects, says Edmund Phelps, who won the Nobel Prize for economics in 2006 and directs the Center on Capitalism and Society at Columbia University in New York. Businesses aren't innovating as much, so companies "just don't seem to require all those relatively high-paid workers they once did," he says.
The health-care industry is one example, the BLS said in a December report on the occupational outlook. As costs continue to rise, "tasks that were previously performed by doctors, nurses, dentists, or other health-care professionals increasingly are being performed by physician assistants, medical assistants, dental hygienists, and physical therapist aides."
GEE, THANKS, EDDIES!