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HomeMy WebLinkAboutThe Citizen, 1999-06-09, Page 5American corporations asking them to • He handed me a resume and a note that THE CITIZEN, WEDNESDAY, JUNE 9, 1999. PAGE 5. Help wanted - some intelligence necessary They say hard work never killed anyone, but I figure why take a chance? It was Ronald Reagan, one of the great goldbrickers of modem times, who made that statement. The one-time president of the United States was modestly famous for being perhaps the laziest man ever to snooze in the Oval Office. He was, first and foremost, a Hollywood B- movie actor, used to being well paid for looking good and smiling a lot. I suspect he regarded his eight years in the Whitehouse as just one more big-budget Western with an unusually large cast. Reagan’s easy-going attitude to hard work may turn out to be his most powerful legacy - it certainly is if a recent survey is accurate. A New York research firm by the name of Schulman, Ronca and Bucuvalas (would I make up a name like that?) wondered what kind of kids were show ing up at job interviews these days. They sent out questionnaires to the personnel directors of some 200 major International Scene Big Mac Index up to date Once a year I bring you the findings of that great economic invention called the Big Mac Index. Yes, you are right; it is named after that creation of McDonald’s and, if you are by chance a newcomer to this bit of economic data, let me explain it to you. The Big Mac is sold in a large number of countries including Russia and China and it is pretty well the same size and quality in all the countries where McDonald’s is located. It is therefore used as a constant to determine the validity of the prevailing exchange rate of two currencies. Is the rate where it should be or is one either overvalued or undervalued in terms of the other? You may think at this point I am having fun at your expense but I assure you these calculations with regard to exchange rates are as valid as a lot more sophisticated models employed by economists. I use it in my classes and I have noticed the students take to it like fish to water. After all, rare indeed is the student who has not eaten a Big Mac and, as you all remember from your student days, it is important that teachers use concepts to which you can relate. Let’s see what the index says this year. First describe and give examples of the behaviour they'd noticed in employment applicants. They had no idea what a rotten barrel of apples they were uncorking. Some comments from job interviewers: • The reason the candidate was taking so long to respond to a question became evident when he began to snore. • I asked her why she went to college. She replied ‘to party and socialize’. • When I gave him my business card at the beginning of the interview he immediately crumpled it and tossed it in the wastebasket. Self-help books always advise job hopefuls to ‘project a sense of ease and self-confidence. But you can overdo it: • Without asking if I minded, he casually lit a cigar and then tossed the match into the carpet. • She actually showed up for an interview during the summer wearing a bathing suit. She said she didn’t think I’d mind. It’s always good to ask intelligent questions about the terms of employment - but the key word is ‘intelligent’: • (Applicant) wanted to know if employee perks included a swimming pool, paid lunches at the company cafeteria or a free computer to use at home. By RaymondCanon of all the Canadian dollar has for some time been undervalued in terms of its American counterpart. This is what makes Canada so cheap for American tourists. According to the Big Mac Index, this undervaluation is about 20 per cent which means that our dollar should be in the neighbourhood of 75 to 80 cents U.S. Any other mechanism I use to calculate this gives me about the same figure. For the last few years the Index has reported that the most overvalued currency is the Swiss franc and it sees it no differently this year. To show you this situation, the same Big Mac that you buy in Canada for $2.75 - $3 costs you about $7.50 in Zurich or Geneva. Even eating at McDonald’s there does not come cheaply for Canadians! In case you are looking for cheap places to visit this year, what are some of the other countries that the Index shows have an undervalued currency? Well, if Europe is your bag, try to spend some time in the eastern part. Places like Poland, Russia and Hungary are really cheap. Yugoslavia might normally be but the Serbs took out their frustrations on the Belgrade McDonald’s so that one might be a while getting back fully into action. The west side of Europe is exactly the opposite with Britain and Denmark leading the way (after Switzerland of course). Israel isn’t any cheaper but most countries in South America and Asia will be easy on your pocketbook. Getting there is, however, still pretty expensive. said he was a recent high school graduate and wanted to earn $45 an hour - ‘and not a nickel less’. And it’s always a good idea to do a little homework regarding the company business before you show up for the job interview: • The interview had gone well until he told me that he and his friends wore my company’s clothing whenever they could. At which point I had to tell him that we manufactured office products, not sportswear. Dumb kids. We were so much cleverer in my day. Why, I remember the time I applied for a job as a reporter with the Montreal Gazette. Hate to brag, but I aced the interview. When we were wrapping up, the interviewer asked if I thought I had “any other skills worth mentioning”. “As a matter of fact, yes,” I told him. “Last year I sold two short stories to the CBC and I finished off a novel.” “Very impressive,” said the interviewer, “but I was actually thinking of skills you could apply during office hours.” “Oh,” I replied brightly - “that was during office hours.” Oddly enough, I never heard from The Gazette ... In case you have not had cause to dine at McDonald’s, let me tell you that in some countries, you can buy beer to go with your meal. If you guessed Germany as one of those countries, you are right. Another thing I might mention is not to expect that every McDonald’s outside of Canada has a drive-thru or lots of parking. Due to the shortage of space in many countries, the fast-food outlet is just another building. No drive-thru and definitely no parking! But I digress. Does the Big Mac Index have a crystal ball? Yes, it does although it, like most ones of an economic nature, gets a bit cloudy at times. However, if you are headed for Europe this year or the next, the signs are that you will get a better exchange rate for the dollar. There have been indications of this shift already; the mark is down to the low 80s while the Swiss franc is almost at par. The same holds true for the pound sterling. For your sake let’s hope Big Mac is right!. As for the Canadian dollar, it is going to take a while to get back where it should be. A Final Thought The more you love what you are doing, the more successful it will be for you. - Jerry Gillies The Short of it By Bonnie Gropp Wondering why / Well, Mike I really hope when the election was over you sent a prayer of thanks for the economic tidal wave from the south which you surfed to victory. It’s a given that when the United States is booming, we in Canada fare much better. It’s also a given that a government is seldom ousted when times are good, when the outlook is positive. Taking into account the voter turnout of roughly 25 per cent and the fact that the Liberals and NDPs combined for more than half of the popular vote, taking into account that in many areas the Tories won by slight margins and that three cabinet ministers lost in their ridings it should seem, that while they got a majority it is not because the majority want them. Rather than a vote of confidence, this election should be somewhat humbling. What really puzzles me is that I was hard- pressed before the election to find more than a handful of people pleased with the Tory reign and not a soul since the election who did, or will admit voting for them. But Mike’s tax cut obviously impressed a good number of folk somewhere. Oh, yes, and there was that other thing about the jobs supposedly created by those cuts. I have yet to hear validation of any sort that makes the connection for me. I would be grateful if someone would let me know even one job in existence because of the Harris tax cut. Anyway, it would seem he cut to the heart of Ontarians with the promises he did keep, lies notwithstanding. People are apparently sick of taxes, though it’s a dismal situation that they are willing to sacrifice the most important elements of our lifestyle, health and education in order to save a few measly dollars. And for most of us we are talking measly. The difference in what came off for the province in 1995 from my paycheque and now, is a whopping $8.55 a week. You can imagine how my lifestyle has improved. Conversely, property taxes are taking the brunt, though for those raking in big bucks from their tax break, this apparently doesn’t matter. One man I know spoke blithely of the extra money on his pay cheque, despite the fact his property taxes have jumped almost $1,000. It confuses me as well that there are those stuck in the rhetoric that Mike kept his promises. Did he promise to close schools or lay off nurses? I guess I’m bitter, but with my family well represented by those “special interest groups”, as Harris liked to call them, I have not enjoyed the previous four years. For those unscathed I’m thrilled for you. But, I do not believe you will remain so if the trend continues. If this government follows the same agenda, I would doubt that they will taste victory four years from now. When the economy begins to slide, and it ultimately will, the fickle public will see the mess we’re in. We will pay forthat tax cut. One can hope the Harris government will see it is time to restore the faith in the little people. (You’ve already won them over in Toronto and suburbia, Mike.) If they do, there are possibilities. And in the meantime, there will be many questioning the democratic process.