School's Out - Now What?

Tonight marked the final evening of lecture in what has been my first semester as an adjunct faculty member at the local community college. As I sit here catching up on the news after my long day, I think to myself: "Wow, I'm glad I finished school when I did."

Thank goodness the markets were up today, but we can all predict what that means for tomorrow. For the past several months an up day is almost always followed by a bigger down day. Nearly every business and government entity is either cutting jobs, freezing vacant ones, or at the very least making contingency plans to implement if things don't turn around soon. Real estate markets are still tumbling, consumer confidence and spending are at record lows and America's three iconic auto makers are almost literally crawling to the government panhandling. Wow, what a contrast to when I graduated college!

I can remember in the late '90s when credit was flowing so generously guys like me had $10,000 credit card limits, with only $5,000 in annual income. Job fairs at Virginia Tech were packed with recruiters in a frenzy to scoop up young talent, and Realtors were writing escalation clauses (remember those?). In the hotel world, occupancies were healthy, rates were growing, management jobs were plentiful, and best of all supply and demand were relatively balanced! Times certainly have changed...While we stress about losing our savings in the volatile market, we can be thankful that at least we have a little something to lose. Imagine being a job hungry student right now, wondering how you are going to get a job, must less start saving.

Now, that is not to say it was all easy, hoteliers certainly felt the economic blow of 9-11. I clearly remember big budget cuts that included mandatory 4 day work weeks (and the accompanying 20% reduction in pay). We certainly had a tough period, but there was a light at the end of the tunnel. There was a rational explanation for the why the markets tumbled. Everyone knew travel would come back - albeit when was big question. Nonetheless, we endured that period of uncertainty and sure enough within a couple short years the industry was thriving again! And so goes the cycle...

The good news is that regardless of how bad the economy is today or how much worse it may get tomorrow, this is America and we will rebound. After all, this is and always will be the land of opportunity. To those graduating soon, fear not for fear will only consume you. Continue to dream big! Although you may need to take a humbling job to get through today, rest assured that passion and strong work ethic will pave your road to success.

While the career opportunities may seem few and far between, and you find yourselves competing with experienced candidates, keep your head high and remember the famous words from Dr. Seuss:

"You have brains in your head. You have feet in your shoes.
You can steer yourself, any direction you choose."

"And will you succeed? Yes indeed, yes indeed!
Ninety eight and three quarters percent quaranteed."

To my non-student readers and rest of the world I close with this suggestion: go take an overnight weekend shopping trip to your favorite mall! Pamper yourself and enjoy your stay, the economy could use your help!