TEXT OF STORY
Bill Radke: This morning, retail chains report their September sales numbers. And most analysts expect the news to be bad. You might think in this spending slump, the retail industry would have a tough time attracting new corporate talent. Marketplace’s Ashley Milne-Tyte says: not so.
Ashley Milne-Tyte: It turns out the shrinking financial industry is good for retailers.
Burt Flickinger runs consulting firm Strategic Resource Group. He says MBAs who’d normally go straight into investment banks are re-thinking their options…
Burt Flickinger: And are actively and aggressively pursuing jobs to go into management and executive-training programs with leading retailers both in the U.S. and worldwide.
Flickinger says all those bankruptcies and buyouts in the retail world mean those companies need more MBAs to do merger and acquisition work. And he says retailers worried about the future got rid of too many people.
Flickinger: Even well-capitalized retailers laid off too much top talent so that retailers don’t have enough bench strength for this consolidation and expansion.
So he says retailers need business-school grads to re-fill their ranks and start the climb to the executive suite.
In New York I’m Ashley Milne-Tyte for Marketplace.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.