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Newsletter for LHH New York City office (Go to: http://www.esnips.com/web/LHHNYCJMC) May 14, 2007
Get Your Copy A recent survey by global PR firm Weber Shandwick finds that companies can gain a significant
NYC Job Market Update competitive advantage by creating marketing programs that target baby boomers' expansive
available online at: relationship networks, which remain largely untapped in their potential to influence purchasing
http://www.esnips.com/web/LHHNYCJM
C Access the latest and decisions for products and services.
back editions. Copies are The survey of 502 U.S. boomers, conducted with KRC Research, found that they serve as important
also available in the information sources for fellow boomers when making purchasing decisions.
common areas and from
your consultants… If you
have information to Some 57 percent of responding boomers say they're asked for their recommendations on products
submit, contact Rod and services almost twice a week (or 90 times per year). Of those boomers who were asked to make
Williams at a recommendation in the past year, 89 percent advised their friends, or fellow boomers, whom they
rod.williams@lhh.com or
consider as trusted sources of information.
212.455.8583. Thanks in
advance!
"When it comes to word-of-mouth recommendations, boomers have both unrivaled influence and rich
networks of peer advisors," says Dr. Leslie Gaines-Ross, Weber Shandwick's chief reputation
CRN SpotLight strategist. "Companies can discover new avenues for reaching boomers by approaching boomers'
networks of mutual advisors and creating marketing, advertising and other communications that
Check out the approximately
150,000 jobs on LeadLink portray boomers in realistic social settings to which they can relate."
and don’t forget to keep your
resume updated on Resume If boomers and their circles of personal and professional contacts are indeed so mutually influential,
Reserve. New employers
recruiters should redouble their efforts to tap them for the purpose of getting referrals or directly
and recruiters are added and
are searching daily. sourcing new senior-management candidates.
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www.lhhcrn.com. WORKFORCES TAKE NOTE OF DIVERSITY GAP IN EXECUTIVE TEAMS
Blue Steps Only 43 percent of employees indicate that there is racial, ethnic and gender diversity on their
company's executive team despite the finding that 47 percent of those companies have a formal,
We have negotiated a 20%
discounted rate for LHH clients stated diversity recruiting and development initiative already underway.
with Blue Steps the executive
search web site owned and "Despite the clear need for more diversity in the workplace, particularly in supervisory and leadership
operated by the AESC roles, some employers continue to struggle with implementing diversity programs and creating an
(Association of Executive
inclusive environment that embraces all workers regardless of race, gender, age, sexual preference
Search Consultants) which is
their professional organization or ethnicity," says Jessica Priego Lopez, director of diversity and inclusion practice for staffing
made up of over 200 of the top company Hudson North America.
executive search firms. See
your consultant for details. While 53 percent of responding companies either don't have or haven't effectively communicated the
AESC has around 200
existence of a diversity program, the survey finds U.S. workers are still torn on the ability of these
member search firms, with
around 4000 consultants programs to create salary and job advancement opportunities for women and minorities. Some 31
around the world. percent believe they do, 35 percent think they do not, and 33 percent are not sure of their impact.
When asked about diversity at work, only 39 percent of employees agree that having a diverse
workforce is "very important," but among African-Americans, that number jumps to 65 percent and
among Hispanics, 51 percent.
"The global forces affecting businesses make diversity of talent and diversity of thought an absolute
necessity," Lopez adds, "and very soon, companies will have a hard time remaining competitive if
they do not succeed in recruiting, retaining and developing workers from diverse backgrounds."
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Your leisure activities and non-work-related interests also offer smart places to network. After all, you
will have at least one thing in common with the woman who goes to your yoga class, even if you
don't otherwise occupy the same career or social sphere. But that's good, because it gives you a
chance to grow your social network in unexpected new directions.
"I think creativity and real breakthrough ideas come from unusual places, and not just from hanging
out with people just like you," says Beth Schoenfeldt, founder of Ladies Who Launch, a nationwide
network of entrepreneurial women.
So even though it might seem like a cliché, it's worth it to strike up a conversation with someone at
the gym.
"I [do yoga] for tranquility, as a release to get away from work, but end up having conversations about
work and finding clients," says Mary Carlomagno, a Hoboken, N.J.-based organizer. "It's about
finding people who are like-minded."
Networking during leisure activities works because people are not consciously thinking about their
jobs. Your shared interests allow you to naturally get to know someone personally before you know
them professionally. Emery, the self-described "people-collector," volunteers one night a week at the
Ronald McDonald House. When she needed fashion models for a project she was working on, she
discovered that another volunteer owns a modeling agency. The two ended up working together.
Don't neglect the most obvious networking tool of all - the Internet. A number of online social
networks have huge memberships hailing from around the globe. They are open 24/7, and it's
relatively easy to locate people with similar interests and ambitions. One downside: It's so easy to
form connections online that those ties can be weaker than bonds that grow from face-to-face
interactions.
"Human beings are designed for small-scale social interaction," says Andrew Zolli, curator of
Pop!Tech, an annual conference of "visionary thinkers" from diverse fields. "All of this [online
networking] is making in-person connection more important." Some sites, like Meetup.com, attempt
to address this problem by coordinating face-to-face events.
Most important, don't give up. If one venue doesn't seem fruitful at first, keep circulating at other
places. "Just do it," says Mark Doerschlag, who runs Mark's Guide, a listing of professional events in
Boston. "It's about getting out there. Repeatedly."
RECKONING
by Joseph A. Bondi
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wave of companies requiring restructuring.
(Reckoning cont’d from previous page)
While operating problems and legacy costs will certainly play a role in the next wave, these are likely
to be secondary factors. Trouble is much more likely to emerge from debt loads that leave little
margin for error — whether resulting from interest rate increases or operating problems. Additionally,
many companies that became highly leveraged through buyouts and recaps have been compelled to
use cash flow for debt service rather than investing in more advanced technologies, production
efficiencies or new products. That said, savvy private equity firms have in many cases shifted their
strategies. Going beyond standard financial due diligence, more are placing a heightened focus on
operations. Private equity firms are also seeking to acquire companies that will complement or build
upon a current portfolio company to take advantage of synergistic opportunities.
The issue of debt — and its potential consequences — cannot be ignored. New York University's
Salomon Center for Bankruptcy Filings estimated that newly issued high-yield bonds amounted to
$144 billion at the end of 2006 — a nearly 50% increase over the year before. Herein lies risk.
One buffer, of course, is that in the current environment of easy access to capital, businesses that
become overleveraged may be able to refinance and succeed in preserving equity value and avoid a
Chapter 11 filing. We have witnessed this repeatedly over the current business cycle, when
companies on the brink of a bankruptcy filing have — to the amazement of many observers — been
able to avert a filing through a new-money infusion or by reshuffling their capital structure. Access to
funding and creative capital structures are an attractive patch to buy time. However, should the
current liquidity environment change, more companies may have no choice but the Chapter 11 route.
What will be different in a new Chapter 11 wave?
• There may not be as many protracted Chapter 11 cases. Hedge funds and distressed-company
investors will likely be the largest and most active debtholders and will want to liquefy positions and
promote rapid sales or liquidations.
• The shorter limited exclusivity period under the Bankruptcy Abuse Prevention and Consumer
Protection Act of 2005 may promote the pace of the process.
• Many future filings will have more complex debt structures with the spread of second- (and third-)
lien capital.
• Finally, among the 2006 changes in the Bankruptcy Code are provisions that treat many trade
creditors as administrative creditors to the extent they shipped product in the days leading up to the
bankruptcy. This may reduce the role of trade creditors in reorganization negotiations but will also
add to the administrative claim load that must be paid in order to confirm a plan.
The upcoming wave will have many elements that will test the capacity of this generation of
restructuring professionals and require dexterity grounded in deep experience from previous cycles.
Best Choice and Fast Finders are two of approximately 400 licensed employment agencies operating
in the city.
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Networking Events (free / low cost events that may interest you)
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functionality.
http://www.dogpile.com great search site that uses Google, Yahoo, Ask Jeeves, About, Look Smart,
Overture, and FindWhat (talk about powerful!)
http://www.allretailjobs.com/ the name says it all
Entrepreneurial Sites:
http://www.startupzone.com employment
http://www.topstartups.com employment
http://www.garage.com lists tech ventures and employment
http://www.fastcompany.com online version of magazine
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http://www.vfinance.com funding for entrepreneurs
http://www.vcbuzz.com venture capital info
Non-Profit Sites:
http://www.philanthropy.com non-profit info and employment
http://www.nonprofits.org/ non-profit info
http://www.chronicle.com higher education info and employment
http://www.guidestar.org/ national database of non profits
Media Resources
Please update by sending additional resources/corrections to jay.colan@LHH.com news and
trends:
television/print/music/interactive/digital/telecom/advertising
http://www.mediabistro.com/ -- Media Bistro: media industry networking and informational site.
Includes, news, advice, events listings, job boards, and discussion groups.
http://www.iwantmedia.com/– daily round up of media and industry news; extensive links to
other, related publications and sites.
http://www.poynter.org/medianews– Jim Romenesko’s media news: news, trends, extensive
links to other news and media related sites.
http://www.mediachannel.org/ -- Media Channel: global media news, issue guides, educational
aides.
http://www.mediaweek.com/ -- Media Week: online media news magazine.
http://www.insidemedia.com/
http://www.media.guardian.co.uk/ -- The Guardian online specialized media site.
http://www.eweek.com/– eWeek online version: media and new media news and resources
http://www.media-news.com/– Media news site, segmented by industry.
http://www.internews.org/– Internews: promoting free and open media on a global scale.
http://www.broadbandweek.com/– Broadband Week online version.
http://www.telecomcareers.net/– TelecomCareers.net: career resources, etc.
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http://www.catv.org/-- CATV Cyberlab: news, resources for cable, broadband, and new media;
extensive list of links.
http://www.cabletoday.com/index.html– Bigpipe.com: cable news, resources, extensive links.
http://www.emonline.com/index.html– Electronic Media online version.
http://www.dmnews.com/cgi-bin/index.cgi– DM News: online direct marketing news.
http://www.headlinespot.com/-- comprehensive news site: news, extensive links
http://www.tvinsite.com/broadcastingcable/index.asp?layout=webzine– Broadcasting Cable
online: news for broadcast and cable industries.
http://www.cableworld.com/– Cableworld online version: cable and broadband news
http://www.minonline.com/index.html—Min magazine: media business resources
television/print/music/interactive/digital/telecom/advertising (cont’d)
www.paidcontent.org focus on "the economics of content"
http://www.212nyc.org/ - interactive focus
www.mediapost.com
www.inanet.com for designers and art directors
www.cynopsis.com - daily briefing for broadcasting and cable, with job postings for NY and LA
Digital Music News (site/publication?)
www.nyctechwire.com
Inside Radio (site/publication?)
www.adage.com Advertising Age site
http://www.poynter.org/ - Web Tips – tracks U.S. TV
www.entertainmentcareers.net
www.rightmedia.com
www.venturewire.com – v.c. focus?
www.variety.com Variety - entertainment focus –including job links
This Week in Technology
British Academy of Film and Television Artists
http://www.digitalmusic2006.com/ - digital music forum
www.worldscreen.com Int’l News on programming /content that inevitably includes notes on
many NY companies
www.lightreading.com technology news with many notes on content deployments
www.digitalmedia.com – conference listings are searchable to obtain contact info for speakers
Multi-Channel News – publication?/site?
www.fierce.com – mobile media including wireless, IPTV and mobile media
BillBoard – music publication
www.journalismjobs.com
associations:
http://www.catm.com/-- Cable & Telecommunications Association for Marketing: library,
research, job bank, etc.
http://www.ncta.com/index.cfm– National Cable & Telecommunications Association: industry
news, legislative information, career resources, etc.
http://www.cthra.com/indopps.html– Cable and Telecommunications Human Resources
Association: job opportunities and career related links
http://www.aaaa.org/news/related_assoc.html– American Association of Advertising Agencies:
related industry links.
http://www.nynma.org/– New York New Media Association:
http://www.cabletvadbureau.com/– Cabletelevision Advertising Bureau: news, research, links,
career information.
http://www.ctpaa.org/– Cable Television Public Affairs Association
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http://www.wict.org/main.cfm– Women in Cable & Telecommunications: resources and links
dedicated to improving the standing of women in the cable industry.
http://www.interactivehq.org/ -- Association for Interactive Marketing: research, education,
events, networking.
www.americanbusinessmedia.com – association of business media companies
www.namme.org – National Association of Minority Media Executives
Magazine Publishers Association (MPA)
Online Publishers Association (ironically I don’t have the URL)
theory and scholarship:
http://www.ctheory.com/– CTheory: current scholarship on cultural, media, and critical theory
http://www.theory.org.uk/– media and social/cultural theory focusing on pop culture
http://www.utexas.edu/coc/journalism/SOURCE/j363/keywords.html– quick resources to major
leaders in mass communication studies
www.release1.0.com – Esther Dyson publication on v.c. and new technologies
Edventures – same on Ester Dyson
other resources:
http://www.hbscny.org/upcoming_events.htm - Harvard Business School Club of Greater NY –
Look for the Media Guru breakfasts
Media Staffing Professionals - Chicago based with jobs throughout the country
"The Soul of the New Consumer" - book on thinking for marketers and product developers
www.current.org – resource on NPR?
www.voice123 – voiceovers
One World? – cable advertising?
Promo magazine and Events Marketer for event marketing people
Provided by Ben Baumes, Jay Colan and the generous, spirited people who participated in the NY Media and
Entertainment networking group in January and February of 2007.
________________________________________________________________________________
The Network of Experts is looking for experienced professionals and subject matter experts across a
wide range of industries. We are a research firm serving the asset management and private equity
communities, and we rely on the experts in our network to educate our clients.
We offer unique benefits for people who are employed full-time, retired, or in transition:
* You earn consulting fees at the hourly rate you set yourself for short assignments that occur via
telephone or through surveys and email exchanges.
* You get to interact with influential money managers and to broaden your personal network.
* You have engaging conversations on relevant and current topics in your industry.
* You participate in a simple and straightforward program that never charges you any fees, protects
your privacy, and works around your busy schedule.
www.networkofexperts.com
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Job Lead Sampler (For many more check Lead Link)
** Returns next edition with a slew of newly posted positions **
So stay tuned…
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