http://video.foxbusiness.com/v/1395094588001/us-companies-continue-to-hold-onto-cash/
In class we read Andre’s story. To recap, he graduated Phi Beta Kappa from college in 2004 and had difficulty finding a job. Andre and pretty much everyone in the U.S have always been under the impression that if you were a great student, with a degree, your future was pretty much set. That was not the case for Andre, and is not the case anymore for many college graduates today. Because of the corporate world downsizing, because of the declining economy, many people have lost their jobs and companies are not hiring. In the text book, the author, David Newman, addresses the idea of
“individualistic explanations,” which he states, means the notion that someone relates their achievements or failures to their personal qualities. Andre began to question his own ability of achieving a successful career. He did not recognize that when he graduated the economy was not doing well and companies were not hiring as much. It had nothing to do with him or his ability to be a good worker or not. In the video posted above, Liz Macdonald, tells us how companies rather keep more money at hand for the rainy days. Even companies like Target who are sitting on 2.1 trillion, instead of putting that money into expanding which will make more jobs available; they rather hold onto it. Although Target is successful for now they do want to ensure their security and will hold onto their money until better times. These are the things Andre should have looked into. Instead of getting down on himself, he should’ve realized that it was not him, it was the economy. Unfortunately he graduated in a time where there was financial instability and was not able to find a job suitable for him. Even today 9 years later the economy is much better but finding a good job still remains a constant struggle for college graduates and everybody else.
