Today's Students Are More Globally Aware, Less Materialistic, Leading Pollster Says

This is from The Chroncile of Higher Education. What do you think?

Washington — The generation of young people who are filling college classrooms and becoming junior faculty members today are more globally aware and less concerned about material wealth than were their predecessors, a leading public-opinion pollster told more than 150 college and university presidents and other top administrators who attended The Chronicle’s Leadership Forum here today.

John Zogby, who is president and chief executive officer of the marketing and research firm Zogby International and has been conducting polls for more than 20 years, said college administrators should keep in mind the priorities of “America’s first global citizens” — those now 18 to 30 years old. Fifty-six percent of people in that age group, he said, have passports and have traveled abroad: “They are as likely to say they are citizens of the planet Earth as they are to say they are citizens of the United States.”

Mr. Zogby has taught history for 25 years and is a senior adviser at Harvard University’s John F. Kennedy School of Government. He is also the author of The Way We’ll Be: The Zogby Report on the Transformation of the American Dream.

Today’s college students are “the most diverse, multicultural generation yet produced,” he said, and are more tolerant of differences. “College students don’t believe that American culture is inherently superior to the cultures of Africa” and other parts of the world, he said.

Even though a growing proportion of Americans — possibly 30 percent now — are earning less than they did in their previous jobs, a surprising number still say they believe in the American dream, he said. The definition has changed, however.

“We’re not only looking at a transformation of the American dream, but in many ways at a transformation of the American character,” he said. Instead of focusing on material wealth and professional status, people in their 20s and early 30s are more likely to seek a rewarding and spiritually-fulfilling life, he said.

Some of these “secular spiritualists” have already taken pay cuts and see little immediate hope of regaining their former earnings. Their attitude, he said, is, “God threw me lemons, so I may as well make lemonade.”

—Katherine Mangan

Congo conflict minerals

The Democratic Republic of the Congo, scene of the deadliest conflict since World War II, remains one of the most dangerous places in the world to be a woman or girl. In part, this danger comes from the demand created by you and me for electronic products that requires minerals found in the eastern Congo. While Congo is a complex crisis, including tensions over land, rights, identity, regional power struggles and the fundamental weaknesses of Congo as a state, the trade in conflict minerals is a key driver of the conflict.

To find out more, go here

To do something, go here

Travel news

Within the travel industry's economic damage, airlines face substantial overcapacity. Two of the large US flag carriers will have to merge to avoid the bankruptcy of another American airline. United Airlines (UAUA), American (AMR) and US Air (LCC) are the weakest airlines. The stocks of all three are down more than 40% so far this year as concerns mount that passenger traffic declines will accelerate as the recession gets worse.

The sales loses are being partially offset by a drop in fuel prices and cuts in routes and airplanes, but the benefit of those reductions has already mostly occurred. When the economy or fuel prices are bad for a prolonged period, airlines turn to the two behaviors which have been their modes operandi in the past: mergers and bankruptcy.

If the revenue problems worsen, a stronger carrier such as Continental (CAL) is almost certain takeover one of its weakened peers. Not only are the numbers of passengers dropping, but as BusinessWeek pointed out two weeks ago, airlines are cutting ticket charges sharply because “there are relatively strong indications that bookings for the spring and summer — especially for business-class tickets — may be far softer than carriers had expected.”

In the fourth quarter of last year, United generated negative $989 million in operating cash flow and negative $1.1 billion of free cash flow, defined as operating cash flow less capital expenditures. The quarter that just ended will not be as good as Wall Street hoped. United cut a deal with its largest credit card processor for enough cash to maintain its business. The card company gets a security interest in some United aircraft in exchange. The deal extends until January of next year.

United needs a way out of all this trouble. since it has already been through a bankrupcty, a merger is now a more likely alternative.

Crisis is a terrible thing to waste

Yea, another bandwagon I'm on: using the phrase, "A crisis is a terrible thing to waste."

Who said it, or something similar, first? Maybe economist Paul Romer. A quick look shows the selection of those using the phrase, or something close includes

Thomas Friedman (New York Times, 18 April 2004)
Eliot Spitzer (January 2005)
Arthur Affleck (February 2006)
Geoff Davis (April 2007)
John Lee (July 2008)
Hazel Henderson (September 2008 - good article this one)
Tim Dollmeyer (October 2008)
Richard Heinberg (October 2008)
Max McKeown (October 2008)

So, what does it mean?

Nathan