Why You Should Sell Yourself Short

It used to be called an Elevator Pitch.

In this social media age, it’s known as a Twitter resume. And it’s still a potentially powerful asset.

I don’t mean an actual tweetable resume–despite what some experts advise, it’s hard to believe that people are getting work that way. I mean a distilled version of your story. What you’re about in a powerful sentence.

It can get the attention of someone you’re meeting for five minutes. It makes you memorable. And the process of getting to that summary forces you to figure out what you really have to offer.

Make lists. Boil them down. Think in vivid, active terms..

WIFT?

The best thing you can do if you’re looking for a job is to network and get any meeting you can. But as Phil Rosenberg points out on reCareered, it’s not all about you:

Chances are your new contact is a busy person who doesn’t have much spare time on their hands. You as a job seeker have a very real reason you want to have coffee – you want their help in finding a job at their company (What’s in it for me – WIFM). But what reason do you give your contact? What’s in it for them (WIFT)?

Exactly—WIFT?

Don’t forget that to be effective in your networking, you need to bring something to the table as well. What can you offer the other person? Do you have information or other contacts that might be valuable to them? Your meeting may simply be an act of generosity on their part, or it may serve their own goals around helping people. In other cases, you can help build your value—a key factor in getting closer to a job—by being a resource to them. Just be careful of coming across too sleazy. The scratch-my-back tack can get a little icky if you overdo it…

Recession Briefing: Obama Proposes Big Limits on Banks

What you need to know today to survive and thrive in the recession.

President Obama expanded his new offensive on Wall Street on Thursday, proposing rules that would impede the growth of the largest banks and bar them from making what he called “reckless” investments. (Washington Post)

As a result of the recession, the U.S. Census Bureau finds itself with the most highly skilled, highly educated work force in its 220-year history. Nationwide, the bureau already has recruited engineers, former corporate vice presidents, college professors and radio disc jockeys to help manage the 2010 census, which will attempt to count everyone in the country beginning in March. (Coloradoan)

“Britain has eaten, drunk and smoked its way out of the recession” according to a new report on manufacturing production. (The Times of London)…

Screwed: 2,500 at Xerox

A daily review of the employment fallout around the country and the world.

Today’s Total: 4,145

Xerox is planning 2,500 worldwide job cuts this year… Beginning Feb.5, 700 workers in Wayne County, MI will be given furlough every Friday… Another 585 layoffs lie in the future of the Lloyds Banking Group… Nuclear Fuel Services in Erwin, TN will be temporarily laying off 150 employees… In preparation for budget cuts, the Portland School District considers serving approximately 100 teachers with layoff notices…

Downturnaround Deals: Drugstore.com, Gap, Lush, Nirvana, Chegg, Weight Watchers

Every week, we post online deals hand-picked for Recessionwire readers by the nice people over at Savings.com. Pass ‘em on for good financial Karma.

Save $10 and receive free shipping on orders of $50 or more at Drugstore.com. (See more Drugstore.com coupons.)

Receive a Savings.com exclusive 12% off Nirvana Chocolates. (See more Nirvana Chocolate coupons.)…

Ditching Your Home

It sounds so tempting: Throwing in the towel and saying goodbye to those overwhelming monthly mortgage payments and your underwater home. Starting anew with a home that’s more modestly priced (and valued) and a mortgage you can actually afford. It can seem like a pipe dream.

It isn’t, and it’s not entirely unreasonable to walk away from your home and mortgage. Enough people have weighed in on why it may make sense for you, and even urging you to take this option.

You Walk Away is one of them. The company’s daily blog is a lively and supportive read aimed at helping you become more comfortable with the idea. As long ago as December 2007, when the recession officially kicked off, You Walk Away was beating the drum for people to ditch their homes and default on their mortgages. The cheerful blog walks you through why it’s okay to walk away from your mortgage: “The lender did not loan you the money without intent to profit. The lender DID risk their money in order to make a profit. They created the terms. They should live with the terms they created.” YWA warns about the possible consequences of walking away: damaged credit for years; the anguish of having your home foreclosed upon; the judgment of others; wage garnishment…

Recession Briefing: White House Drops 5.1% in Value

What you need to know today to survive and thrive in the recession.

Last year, real estate site Zillow estimated the White House was worth $308 million, based on the home’s physical attributes (132 rooms! 55,000 square feet!), historical value and housing performance in the local Washington, DC market. One recession year later, estimates put White House at a bit less: $292.5 million, a drop of $15.6 million, or 5.1 percent from last January. (Zillow Blog)

The recession hit this year’s college freshmen hard, affecting how they chose a school as well as their ability to pay for it, according to an annual nationwide survey released Thursday. Over all, students were more likely than previous freshmen to have a parent who was unemployed and less likely to have found a job that might help pay for college. (New York Times)

The lobbying industry demonstrated its resilience last year in the face of the recession and is fully expected to smash previous spending records. On Wednesday, lobbyists filed their fourth-quarter reports, offering the first glimpse at their spending totals for the year. (Huffington Post)…

Screwed: 1,450 in Iowa

A daily review of the employment fallout around the country and the world.

Today’s Total: 2,701

The closing of a hog plant in Iowa owned by Smithfield Foods will mean the loss of 1,450 jobs. … Columbus, Ga.-based TSYS plans to lay off 400 workers worldwide. … Some 338 layoffs are rolling out across the San Francisco Municipal Transit Authority, beginning this week. … Sitel will cut 250 workers at its Starkville, Miss., location. … Stanley Furniture Co. in Martinsville, Va., plans to lay off 200 employees. … One-third of its staff, about 50 employees, will be let go from Honolulu department store Shirokiya. … Luzerne County, Penn., will lay off 13 employees. … The Commerical Appeal newspaper in Memphis, Tenn., will cut 9 positions. …

Cashing In on Wedding Gifts

In some circles, it’s considered totally ticky-tack to give cash as a wedding gift. Well, times are tight and with people getting married later and later, couples are likely to already own not one but two sets of salad servers.

We expect cash to become more acceptable–and frankly, think it’s far preferable to some of the junk guests call “gifts.”

Deposit a Gift is a new site that seems right on trend…

The Recession Killed the Gas Guzzler

There was no mistaking the recession’s influence at the Detroit Auto Show earlier this month. Although the crowds have returned since last year’s somber affair, the cars themselves were a far cry from the gas-guzzling behemoths that once covered the floor of the massive convention space.

Yes, it appears change is afoot in the auto industry. Blame it on the recession, the high gas prices, or the growing eco-consciousness of society, but this year’s show featured an endless stream of hybrid, electric, and generally eco-friendly cars with lower price points than before the economic collapse…