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Here are five choice articles from the business press to start off your workweek. I'm pointing you to articles about retail today, having it all, Jeff Immelt, one banker who said, "No", and workforce optimization.

From the Economist: From buy, buy to bye-bye
"The breathtaking speed with which retail sales have plummeted in both America and Europe (see chart) has caught retailers and manufacturers by surprise. In response, companies have tried desperately to prop up revenues using a variety of promotions, advertising and other marketing ploys, often to no avail."

Wally's Comment: Retail has to regroup. When the downturn is over the entire sector will look different than it does today.

From the Financial Post: A woman CEO's view: No, you can't have it all
"In corporate America, for all the cracks that have cut into the glass ceiling, a female executive still has a very different role and responsibility from her male counterparts. That's simply the reality. There are several possible paths for the high-potential executive woman who wants it all, but each involves a tradeoff."

Wally's Comment: Life is about tradeoffs. Human biology hasn't changed recently. And business success involves "being there" and visible a lot. Mix those three things and what you get is a career challenge.

From Business Week: GE's Jeffrey Immelt: All Boxed In
"No matter what the CEO does to try to save his company, it has lost its aura of greatness."

Wally's Comment: Following Jack Welch was bad for the expectations created, especially in the business press. But it was good, too, because Welch improved on an already-legendary leadership development system that helped Immelt form his style and awareness and because Welch left a strong company. The real problem for Jeff Immelt is that he faces the highest possible expectations in the very toughest of times when he needs to lead a transformation at GE.

From Forbes: The Banker Who Said No
"Andy Beal, a 56-year-old, poker-playing college dropout, is a one-man toxic-asset eater--without a shred of government assistance. Beal plays his cards patiently. For three long years, from 2004 to 2007, he virtually stopped making or buying loans. While the credit markets were roaring and lenders were raking in billions, Beal shrank his bank's assets because he thought the loans were going to blow up. He cut his staff in half and killed time playing backgammon or racing cars. He took long lunches with friends, carping to them about "stupid loans." His odd behavior puzzled regulators, credit agencies and even his own board. They wondered why he was seemingly shutting the bank down, resisting the huge profits the nation's big banks were making. One director asked him: 'Are we a dinosaur?'"

Wally's Comment: There aren't a lot of stories like this around. That's one reason why it's worth reading.

From Industry Week: What You Need To Know About Workforce Optimization
"Sustained commitment to employee training and development counters downturns and results in long-term growth and recovery success."

Wally's Comment: John Teresko has been writing about manufacturing businesses since before many of the people leading them were born. He knows a lot. And one of the things he knows is that training and development are necessary for long-term, sustainable, success.

Wally's Working Supervisor's Support Kit is a collection of information and tools to help working supervisors do a better job. It's based on what Wally's learned in over twenty years of supervisory skills training. Click here to check it out.