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What a Week

This week took the cake for bad news. Bear Stearns, out of cash, was sold to the highest bidder for $2 per share, and everyone expects other shoes to drop on the Street. But that wasn’t the only bad news. Oil hit $110 a barrel; gold broke the $1,000-per-ounce threshold; President Bush admitted the economy is having difficulty (thanks, George); and most of the fund managers I have talked to continue to wait it out on the sidelines. How does all this bad news impact hiring trends? Notwithstanding the deteriorating economic picture, so far, so good. Obviously, on the banking and finance side of the business, there’s plenty of talent on the street, and there’s more to come. But otherwise, recruiting activity in most sectors appears to be holding its own. Most of that activity revolves around strategic and opportunistic hires as well as financial- and asset-management positions to beef up that end of the business for the anticipated transactional recovery.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
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