June 24, 2019

State Chamber Update

I have frequently discussed talent as an important focus of the Delaware State Chamber of Commerce. In fact, talent will be the subject of our next Developing Delaware conference in October, but more about that later. DSCC and many of its members are active in education and training initiatives around the state, from K-12, to technical pathways, traditional college and university options and more. And not too long ago, an MBA was “the” credential to earn since having one would almost guarantee a graduate a career filled with high-paying jobs.

However, MBA programs at several colleges and universities have been dropped due to dwindling enrollment figures. At the same time, C-suite headcounts have tightened and electronic trading platforms on Wall Street have displaced thousands of people with MBA credentials. Today, many graduate MBA programs carry on and find a willing number of students, despite the expense. It was a Bloomberg Businessweek “Best B-Schools” story and the headline: “ Nearly 50% of Top MBA Grads Owe Six-Figure Debt” that caught my attention. The story contrasts student debt from the Class of 2018 with median starting salary information from each school. What isn’t clear is how much of this debt was accumulated from someone’s undergraduate program, but the over all debt story is one that remains compelling.

News You Can Use

This is the final Session week in 2019 for the General Assembly. We remain optimistic that no further consideration of increases to the minimum wage and no action on recreational marijuana will occur between now and the end of the week. However, things can change and we will remain on top of these and other priorities until the final gavel is struck. Please be alert for any important messages we may send you in the final days of the legislative session. Also be on the lookout for a complete “wrap up” report from James DeChene shortly after the Session draws to a close.  

On Tuesday, Case-Shiller home prices for April and new home sales for May will be released. On Friday, May data on personal income, consumer spending and core inflation will be published.  

Michael J. Quaranta

President

Delaware State Chamber of Commerce

From baby to body, Edgewell is passionate about making the little moments leading up to the big memories just a little bit easier. Simply, we aim to make the products that families rely on more inspired, more personal, and more trustworthy—so they can devote that much more energy to the people they care about most.