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April 12, 2010
Watch Sales Fall. Faculty Salaries Stall.
The AAUP numbers are out. For the first time since the 1970s full-time faculty salaries lag inflation (not that there aren't lots of complications to such a reduction as that).
Meanwhile, over at Bloomberg.com I read:
In the U.S., sales of watches costing more than $100 fell by a third last year, according to market analysts NPD Group, of Port Washington, New York. Swiss watch exports fell 22 percent in 2009, the biggest drop since 1932, according to the Federation of the Swiss Watch Industry.
What really worries me is that the kinds of folks described here:
"The decline of bonus culture had a big effect on the watch market," said Catherine Macdonald-Home, editor of Luxury Briefing, a trade publication. "A lot of guys would buy a watch with their first bonus. It was seen as a rite of passage."
sometimes grew up to send their children here and places like it. And if that stops happening . . . well, the business model of the expensive liberal arts college is looking less sustainable, as they say.
Happy Monday morning to you!
Posted by CrankyProfessor at April 12, 2010 7:20 AM