The Value of Human Life

As reported in many news outlets, David Kellermann, the acting CFO of Freddie Mac was found dead in his home on 22 April 2009. Initial reports indicate suicide. His death should be a reminder to all of us that human life is more valuable than career, wealth, houses, or just about anything else.

As we are all aware, the financial crisis of 2009 is taking an incredible toll on millions of people world-wide. As a manager, you spend a significant amount of time with people like David Kellermann, people exposed not only to job stress but also to personal financial stress. This stress can lead people to make desperate decisions.

As a manager, one of your greatest responsibilities is to ensure the well-being of your employees. If you discover an employee is faced with an exceptionally difficult set of circumstances, engage that employee immediately and provide, at a minimum, moral support. Look to provide any available assistance, such as an EAP (Employee Assistance Plan), or even some time off. Reassure the employee and provide encouragement as well as a safe place to listen.

As each of us views the difficulty we are under, never believe that your life or the life of another is no longer worth living. While the stress appears crushing, it can be managed. Help can be had and the choice to live should be made. Great resources can be found at SAVE.org

While I didn't know David Kellermann, or his family, I remember them in my thoughts and prayers, and ask you to do the same. If you know someone who is suffering, offer them any help you can. Take all signs or warnings of suicide seriously and get help!

Life is worth living and protecting!

Many thanks to "Dollars and Sense," as it was the inspiration for this article.

The Value of an MBA in the Economic Crisis of 2009

Is an MBA as valuable in the first quarter of 2009 as it was in the first quarter of 2007? According to Matthew Stewart, an MBA is "...overvalued piece of paper." I happen to have earned the degree, and while Mr. Stewart hasn't, he makes an interesting point.

His statement that short term, with the contraction of the financial and consulting markets, MBAs are going to be hurt, is generally a fair statement. It is also true for mortgage brokers, commercial Realtors, and bank personnel in general (Goldman Sachs). Executives & Professionals: Changing Jobs?

However, MBAs can be very successful as entrepreneurs. A thorough understanding of accounting, finance, marketing and broader management topics provide a one of three critical pieces for a successful business. While speaking with a major VC firm, the firm stated that they would invest in a company that had a "B" business idea, if they had an "A" management team. Further, they would not invest in a company with an "A" idea and a "B" management team. The VC firm continued that the management team either had to have significant experience and success or had to have at least one MBA with a less experienced team. Elite Jobs for elite professionals! Let Doostang help accelerate your career. www.doostang.com

In this financial crisis (2009), MBAs can also be success in leading restructuring or streamlining activities. They can also use their academic knowledge of quantitative and qualitative management to help develop new products, strategic vision, as well as train existing personnel on any number of business topics. Personally, having an MBA in difficult economic times is a strong differentiators in a field crowded with candidates seeking work. Try RingCentral Fax FREE for 30 days

Does this mean that everybody should run out and start an MBA program? No! An MBA is an expensive and time consuming investment. If you can't justify the expense, as it won't relate to your current or desired field, spend the time and money getting the training that will. I am a proponent of broad, life-long education, but I am not a fan of wasting money. Cheap? No. 100% Free. Trade stocks for free on Zecco.com. The Free Trading Community. www.zecco.com

This economic crisis will end and companies like Goldman Sachs, GE, and McKinsey will start to hire MBAs again. There will always be a need for people skilled in qualitative and quantitative analysis, as well as financial management, human resources, and supply chain management. While some will argue that an MBA is not particularly valuable, they may a true statement in a limited context. However, in a broader context, they may be even more valuable in the economic and financial crisis we face today, and will face in the future.