After a dozen job changes over 35 years, it is too late for me to become a loyal employee. But I know the model of the faithful worker. The dental assistant who used to tend to my teeth worked at the same small practice for about 35 years before retiring, with deep regret, two years ago. She stopped by regularly afterwards, because she wanted to stay in touch with the community that had defined so much of her life.
I was unceremoniously kicked out of my last job in finance early in 2004. It was a career turning point for me after 24 years as an equity analyst at eight firms – brokers and investment managers – in both the United States and Europe. I took shelter in financial journalism. Much has changed in the money business since then. But reading about the behaviour that has led to a litany of huge fines, I fear that too much remained the same, at least until very recently.
The “konditorei” in Sankt Florian, Austria offers fine pastries and wonderful hot chocolate. It was the perfect location to interrupt a holiday for a bit of work. Over a slice of strudel, I spent a few minutes last week contemplating my colleague Andy Mukherjee’s well argued article about the danger robots pose for the modern economy. Looking around the bakery-cafe, I saw why Andy should be proven wrong.
Apple is in the news for borrowing $12 billion this week, even though it has $151 billion of cash on its balance sheet. The financial legerdemain will keep the technology giant’s tax bill down. It also is suitable for a company whose business model has long looked more like a magic act than a traditional corporate drama.