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Judith Samuelson

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A Baby Boomer's Advice To The Millennials Occupying Wall Street

Posted: 10/03/2011 10:59 pm

NEW YORK -- A week ago, I happened on "Occupy Wall Street," which took on an even larger proportion this past weekend. When I saw it, the demonstration was taking place in a tiny park just steps from the giant construction site that the World Trade Center has become. The cops were there as well in big numbers; observing a chaotic spread of sleeping bags, scruffy occupants and a large array of protest signs about the ills of capitalism.

What struck me first about this sight was the tight age cohort: Millennials to the core.

Whether their disgust with Wall Street is fueled by a lack of jobs or a more complex analysis was not apparent to me, but I trust we will be hearing more from the Millennials. Scholars are suggesting they will be a force to be reckoned with. In fact, you might already be experiencing their tendency to want to be heard in the workplace, in the classroom or at the dinner table, for example.

There are a lot of them; 90 million by some count, comprising the largest generation in our history. They are the most racially diverse generation ever, and they have been, and are being, shaped by remarkable events such as 9/11 and the ongoing global recession; by their parents -- the boomers of yore; and, of course by technology -- the first generation to take instant communications for granted. I believe that Millennials will shape our response to issues that bedevil us -- through their passion about social issues, their facility with technology and social networking, and through their continued willingness to vote -- as they did in big numbers in the last Presidential election.

Many of them will go to business school -- or are already there. A quarter of post-graduate degrees are in business, and 20 percent of undergraduates are pursuing business degrees. Even at liberal arts colleges that may not offer "business" as a major, students flock to economics instead, or as close as they can get to the subject. This may be the result of parental pressure to exit school with some hope of finding a job (unlike baby boomers, Millennials are close to their parents and apparently even listen to them) but it is also in pursuit of the skills, language and heroes they have grown up with -- more Steve Jobs and Mark Zuckerberg than Bob Dylan and Robert Redford.

The question I have been thinking about is how they will bridge these two worlds -- passion for social issues, and comfort with technology and business. I know from experience that real change is hard; that to influence business, and Wall Street, requires people skills as well as analytics, patience, and multiple approaches to gain the attention and commitment of the power brokers who set the rules and design the reward systems. Protest is a not an insignificant part of the puzzle, however, and always has been; just ask Walmart, Nike or Nestle.

I saw Mayor Bloomberg on TV that same evening that I observed the Occupy Wall Street movement. He was on the news, commenting on the situation downtown, which hit the mainstream media when protestors were arrested for obstructing traffic, and police tactics were depicted as being heavy-handed in some accounts.

"Where is Wall Street?" he fumed. He was really asking two questions: "What Is Their Problem?" and "Why In My City?"

Bloomberg elaborated that Wall Street has gone global and is thus not an appropriate protest venue, at least in his opinion. And from his billionaire's perspective, protesting the very institutions that we need to create jobs and prosperity is a trifle gauche. Bloomberg is usually an astute guy, and I am generally a big fan of what he has done for New York. In this case, I could only feel that he didn't get it.

One irony that emerges from what we know of this generation's attitudes is that they have higher trust in institutions than their predecessors. What this means in terms of their expectations of both business and government remains to be seen. I left downtown feeling hopeful.

 

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05:13 PM on 10/08/2011
Eddie, a millennial is this week's guest-guest blogger on the whimiscal Thinking Out Loud:

Eddie:

Let's get right to the point. Oh, hold on, I've got a text message coming in. . . cant txt now, c u 2nite. . .so, I did a check of the topics on Thinking Out Loud, oh, wait, let me read this Tweet. . .Ha! Funny!. . .Anyway, looking at what's being discussed on this blog, I only found one posting that had anything to do with sustainability, Carbon Offset Upset, and that one was a failed attempt at satire.

The other postings--the jabs at politicians, the faked Shuttle trip to Mars, the Harry Potter products (actually that one was half-funny)--fill up the Ethernet but signify nothing.

This blog should be devoted to what's really important: Sustainability, Zerofootprinting, and the Vegan lifestyle. Did you know that all these products are now compostable: drinking straws, soft drink cups and dog leashes? Did you know Americans spend more on bottled water in one afternoon than Europe spent from 1500 to 1725 outfitting ships to explore the so-called "New World"? Did you know that we Millennials have never heard of The Firesign Theatre. And that even if we did know of the comedy's group's recordings, we wouldn't understand a word they were saying?

Oh, hey, gotta go. Late for a glee flash mob -

--Oct. 6, 2011, Thinking Out Loud, http://marperl.blogspot.com/
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beerbagger
12-pack of genius
02:38 AM on 10/06/2011
Where's the advice in this post?

Went to an Occupy Denver gathering today. Was severely disappointed in the lack of focus and direction. Here's some advice. Don't be a bitter pissed off mob. Raise an issue, have some relevance & facts, offer a helpful solution, manage and carry out small objectives which achieve awareness and change. If the goal is to be heard... then tap into the resources of the 99% community. The people of influence, local businesses, media... use some creativity!!!

Today I saw zero focus, zero clarity, just people who've always wanted to claim they protested or have that activist merit badge. This is not a 4:20 smoke out kids...
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11:58 AM on 10/05/2011
Bloomberg, the man who paid $110 million out of his pocket to be mayor. That is the kind of thing the 99%rs are protesting.
11:10 AM on 10/05/2011
Not everyone is going to get rich or have the american dream but you do the best you can do for yourself and you family and at the end of the day you will have the comfort of knowing you helped yourself and your family.
11:08 AM on 10/05/2011
As for the young people of this world they are getting the biggest awakening of their life.Better degrees don't mean rich.People all over the country have degrees and road experience to boot and some of them are out of work to.They have had road experience along with their degrees and are in the same boat you are.You take what you get and hope for the better because that is what you do.
10:55 AM on 10/05/2011
And taxes this is a killer.Where did any one get the idea that they would never have to pay taxes? Every person is mad as hell because they have tax yet no one even considers what would happen if no taxes were paid.
10:46 AM on 10/05/2011
If you are out working in your profession why do you need to learn their profession?That is is unrealistic as can be.
10:43 AM on 10/05/2011
As for "unqualified" home owners I will say this.You got to a doctor because you trust their judgement.You go to a lawyer because you trust their judgement.You go to school and learn from teachers and professors because you trust their judgement.You speak to a policeman or policewomen because you trust their judgement and you go to a church because you trust their judgement and why not?They are the experts of the field.There is know good reason in the world where a full time working home owner should not be able to trust bankers to create or deny you the mortgage you are seeking.They are supposed to be the experts.
10:31 AM on 10/05/2011
Realistically when the people of this world get so they are comfortable they will start buying again and the producers will start or increase the producing of goods.That is simple realistic math.
10:22 AM on 10/05/2011
They will tell you oh well just go to the small business administration.Well it is a government agency,but wait, I thought they wanted government out of the business envoirnment.And that is the whole problem,you can't have it both ways.Someone needs to say and do whats best for the economy and that may going back to the roots or outside the box thinking.
10:16 AM on 10/05/2011
With all the people out of work it kind of knocks the idea that anybody can be rich in this country like it is often promoted in some circles.First you need some form of capitol to start.Second if you have lost a job,your credit and everything else you had who do you get that backing from? What if your family is in no better shape than you?They can't help.These are the questions that never are answered by any politician because they can't answer them.
01:55 PM on 10/04/2011
An open note to the Occupy Wallstreet protester that put her lit cigarette into my face at the Zucotti Park greenmarket today:

Smoking is one of the most corporatized things one can possibly do! Your protests are about community and real people helping others. Blowing smoke in others' face is really not going to help your cause. Good thing a cop didn't see you.

p.s. My mother died of lung cancer last year.
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rdl114
01:20 PM on 10/04/2011
As a person born in 1950 and who was radicalized via the disgust I felt at the Vietnam War, among many other things, I have this advice for the Millennials: be more extreme. Act MORE radically. Do not be afraid. Be revolutionary in a way that is true to our historic roots. The people who have stolen our country are criminals. Nicely dressed, but criminals just the same. Theodore Roosevelt called them "malefactors of great wealth." Truer today than even then. TR had this to say as well.

Theodore Roosevelt - Speech at Osawatomie, Kansas (31 August 1910)

No man should receive a dollar unless that dollar has been fairly earned. Every dollar received should represent a dollar's worth of service rendered — not gambling in stocks, but service rendered. The really big fortune, the swollen fortune, by the mere fact of its size acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective — a graduated inheritance tax on big fortunes, properly safeguarded against evasion and increasing rapidly in amount with the size of the estate.
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11:56 AM on 10/05/2011
Burn Baby Burn !
12:02 PM on 10/04/2011
I bet progressives will love the Millennials, they're easily manipulated, have little real experience and are idealistic. They're being taught that the American dream is about having 'stuff'. Really? The American dream has always meant no barriers to those willing to work hard to succeed. You can come here with nothing and become a millionaire. From what I can see about Millennials in the work place, they all want a paycheck but few are willing to work for it. Mindless protestors who are easily manipulated into showing up somewhere do NOT give me hope!
Do these 'protestors' know that the same politicians encouraging their protest are the ones who pressured banks into making loans to unqualified applicants? They were pushing the ‘progressive’ idea that more people should own their own homes. It sounds great in theory, but look at the results. Do they know that these politicians haven't prosecuted ANYONE for their part in this massive fraud? The biggest fraud is that the government is going to help them get a job. If they want the American dream they should go find a job doing anything. Can’t find something? Try for an internship. Can’t do that? Start your own company. Some of the most successful business people are those without a business degree.
10:33 AM on 10/04/2011
I, too, feel hopeful - that we Boomers can do a little "getting back to the future" ourselves with this collective prodding of our prodigy protesting....us. http://wp.me/pVpbt-c4