You have to see Apple’s spaceship-like campus — plus the 100,000-square-foot gym

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Source: Market Watch Personal Finance

The Apple Campus 2 site in Cupertino, Calif., is taking shape, thanks to footage from a drone that shows a bird’s-eye view of everything the campus has to offer.

There’s the main structure — a spaceship-like building that will be covered with 3,000 glass panels — an 100,000-square-foot fitness center and a solar power-topped parking structure. Apple

AAPL, +1.09%

  plans to sell excess electricity generated by solar panels at its new headquarters, joining Google parent Alphabet Inc. in efforts to trade on the energy market, according to Bloomberg.

The campus covers 176 acres — about twice the size of Disneyland — and, upon completion, will house 13,000 employees, according to Popular Science. The building heavily uses glass panels to give the indoors a feeling of being outdoors, and 80% of the campus is expected to be green space. The project costs a reported $5 billion, over budget from the initial projected costs of less than $3 billion.

The drone footage was shot by Matthew Roberts, who has been documenting the construction site with a new video every month on his DJI Phantom 3 Professional drone, which retails for $999.

Construction on the project is expected to be complete by 2016, and employees will move in around early 2017.

Source: Market Watch Personal Finance

ECB weighs looser bond-buying rules: report

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Source: Market Watch Personal Finance

The European Central Bank has discussed loosening the rules for bond purchases, Bloomberg reported Thursday, citing unidentified eurozone officials. The ECB is concerned there may not be enough debt available to buy under current criteria following the continued fall in bond yields after last week’s Brexit vote, the report said. Some ECB policy makers favor changing the allocation of bond purchases under the bank’s quantitative-easing program away from the size of a nation’s economy toward one more in line with outstanding debt, the report said. Current rules say national central banks in the euro area can buy bonds sold by governments, agencies and European institutions with yields above the ECB’s deposit rate of minus 0.4%, while different rules are in place for purchases of corporate debt and other securities.

Source: Market Watch Personal Finance

Most mortgages sold by the government remain delinquent, FHFA says

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Source: Market Watch Personal Finance

More than three-quarters of the delinquent mortgages Freddie Mac and Fannie Mae have sold since 2014 are still delinquent today, according to a new report.

Fannie and Freddie have sold delinquent mortgages in bulk since 2014. The mortgages are sold to investors at steep discounts to their face value in an attempt to help distressed homeowners find better outcomes than the government can provide and shield taxpayers from more losses caused by defaults.

The Federal Housing Finance Agency, Fannie and Freddie’s regulator, released its first report on the progress of the sales Thursday. The report covers loans were sold before June 30, 2015 — only about 21% of the 41,469 sold so far — and reflects outcomes through the end of last year.

Read: With few takers, the government sells distressed mortgages to Wall Street

Only 24% of the loans had reached any resolution by that time, according to the FHFA. Those, the agency wrote, were evenly divided between foreclosure and a mix of outcomes including short sales, permanent modifications, or self-cures, in which the homeowner catches up on their payments.

FHFA also conducted a trial using a control group of loans that were not sold to some that were. Only 14% of the loans that were sold avoided foreclosure, compared with 21% of the ones that weren’t.

The government has drawn criticism for the mortgage sales. Many consumer advocates say the investors who buy them have no experience helping distressed homeowners and no sense of responsibility to the communities where the homes are located. But few nonprofits are able to handle the financing or servicing of so many mortgages.

Separately on Thursday, the Federal Housing Agency announced changes to its distressed note sales program in response to such critiques. FHA has sold delinquent mortgages since 2012.

Read: Forget flipping houses — these retail investors flip mortgages

Some families whose loans are sold through FHA’s program may be eligible for principal reduction, according to the new guidelines. It will also make it easier for nonprofits to participate by letting them bid on “partial” pools, and target sales by geography.

The new FHA guidelines “sound great,” said Julia Gordon, executive vice president at the National Community Stabilization Trust, a nonprofit that works to combat blight.

They could make a “significant” difference in the ability of nonprofits to participate in the sales, while principal reductions could help homeowners, Gordon said. For now, though, neither FHFA nor FHA has reported out on principal reductions from prior sales.

Source: Market Watch Personal Finance

Corn futures fall, soybeans climb after USDA data

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Source: Market Watch Personal Finance

Corn futures fell toward their lowest settlement since early May, while soybean futures climbed toward a two-week high following Thursday’s release of the U.S. Department of Agriculture’s Grain Stocks and Acreage reports. U.S. corn stocks totaled 4.72 billion bushels on June 1, up 6% from the same time a year ago, the grain stocks report said. Soybean stocks totaled 870 million bushels, up 39% from a year ago. Meanwhile, the U.S. planted an estimated 94.1 million acres of corn this year, up 7% from last year, and 83.7 million acres of soybeans were planted, up 1% from last year, according to the acreage data. Market consensus estimates called for 92.8 million acres of corn and 83.9 million for soybeans, according to Cowen and Company. December corn

CZ6, -3.07%

traded at $3.72 a bushel, up 3%, and November soybeans

SX6, +3.89%

traded at $11.48 a bushel, up 3.2%.

Source: Market Watch Personal Finance

Dow flirts with 200 points as post-Brexit rally intact

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Source: Market Watch Personal Finance

U.S. shares extended gains with the Dow Jones Industrial Average up nearly 200 points on Thursday as investors continued to chase stocks in the wake of the sharp selloff triggered by the U.K.’s vote to leave the European Union last week.

The Dow

DJIA, +1.06%

added 188 points, or 1.1%, to 17,883, led by a 2.5% jump in General Electric Co.

GE, +2.41%

The S&P 500

SPX, +1.02%

climbed 21 points, or 1%, to 2,092, with all 10 sectors in positive territory, led by a 1.8% rise in consumer-staples stocks. The Nasdaq Composite

COMP, +0.89%

gained 44 points, or 0.9% to 4,823.

The main indexes looked set to book monthly losses but were modestly higher over the quarter and on Wednesday turned positive on a year-to-date basis.

“We are clawing back from the losses after Brexit as investors realized that it was not the watershed event that they thought it was,” said James Abate, chief investment officer at Centre Asset Management LLC.

Still, he cautioned that it may too soon the judge the impact of the U.K.’s departure from the EU.

A pullback in crude-oil prices

CLQ6, -2.37%

which posted their biggest gain on Wednesday since early April, is capping the stock market’s upside. But a rebound in the British pound

GBPUSD, -1.3404%

 for the third straight session, as well as a reading of initial U.S. jobless claims that showed that the pace of layoffs nationwide remained extremely low, supported risk appetite.

“There’s a bit of complacency out there,” said Jeff Carbone, managing director at wealth manager Cornerstone Financial Partners.

Even as the U.K.’s FTSE 100 has erased its post-Brexit slide and U.S. benchmarks logged in the last two sessions their largest two-day jump since February, this doesn’t change the fact that the stock market is trading at historically high valuations amid continuing political uncertainty, Carbone said.

“Get ready for continued volatility,” he added.

While EU leaders are urging the U.K. to move ahead with the first step in triggering Brexit, the country is in political turmoil after Prime Minister David Cameron said he would resign and leave that move to his successor.

Brexit backer and former London Mayor Boris Johnson said Thursday he won’t participate in the race to succeed Cameron, confounding widely held expectations.

“It appears that markets have developed into more of a consolidation and there will be fears that this could simply have been an unwinding move that provides another chance to sell,” said Richard Perry, market analyst at Hantec Markets, in a note.

From a technical-analysis perspective, “the longer-term trend [for the S&P 500] remains up since February,” said to Frank Cappelleri, technical analyst at Instinet, in emailed comments.

But the index “is still searching for direction in the short-term,” Cappelleri said. “While the [S&P] has had it chances to break out (and down) multiple times over the last three months, it has yet to thoroughly leverage any apparent support [or] resistance penetrations.”

Meanwhile, Katie Stockton, chief technical strategist at BTIG, cautioned that signs of upside exhaustion are emerging after the market’s “impressive” bounce. “We expect resistance to be discovered today, leading to further deterioration in short-term momentum,” she said in a note.

Economic docket: A measure of Chicago-area economic activity surged in June on a big advance in the number of purchasing managers, indicating improving production and new orders.

Stocks to watch: Yahoo Inc.

YHOO, +1.63%

 inched higher by 1.6% as shareholders held their annual meeting.

Shares of Lions Gate Entertainment Corp.

LGF, -1.36%

 gained 0.9% following an agreement to be purchased by Starz

STRZA, +8.53%

for $4.4 billion in cash and stock. Starz’s shares popped up 11%.

Wal-Mart Stores Inc.

WMT, +0.83%

 gained 0.9% after announcing Thursday it is launching Wal-Mart Pay in 11 more states, making its mobile pay service available in more than 500 new stores.

Darden Restaurants Inc.

DRI, -2.81%

whose chains include Olive Garden and The Capital Grille, tumbled 3.4% after the company posted a rise in quarterly profit while sales missed expectations. Darden did raise its dividend by 12%.

Liquor and beer maker Constellation Brands Inc.

STZ, +3.11%

 rose 3.1% after the company said its earnings and sales rose above expectations.

McCormick & Co. Inc.

MKC, +3.55%

 gained 4% after the company’s profits rose as acquisitions and cost-cutting helped boost the spicemaker’s sales.

Pier 1 Imports Inc.

PIR, -9.28%

 reported a quarterly loss and a decline in sales late Wednesday, sending shares down 8.8%.

Tractor Supply Co.

TSCO, -3.26%

 shares fell 3.4% after the company’s second-quarter forecast fell short of expectations. The farm-equipment supplier also lowered its annual forecast.

Progress Software Corp.

PRGS, +5.36%

 shares jumped 5.4% following the business software maker’s report of better-than-expected second-quarter earnings.

Other markets: Oil prices

CLQ6, -2.37%

 dropped 2%, trading below $49 a barrel. European stocks

SXXP, +1.04%

UKX, +2.27%

 continued to rally, gaining for a third session.

Asian stocks ended mostly higher, with Japan’s Nikkei Average

NIK, +0.06%

 edging up 0.1% and Hong Kong’s Hang Seng Index

HSI, +1.75%

 gaining 1.8%.

Gold futures

GCQ6, -0.58%

 were off 0.5% to $1,320.80 an ounce. The ICE U.S. Dollar Index

DXY, +0.58%

 advanced 0.5%.

–Carla Mozée in London contributed to this article.

Source: Market Watch Personal Finance

Millennials can save more for retirement by learning from baby boomers’ mistakes

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Source: Market Watch Personal Finance

In his famous song My Way, Frank Sinatra memorably intoned, “Regrets, I’ve had a few …”

Taking a cue from Ol’ Blue Eyes, age brings wisdom, and those closest to retirement are more apt to acknowledge (and regret) mistakes they made when they were younger — like cashing out their retirement savings accounts — that will decrease their income after retiring.

Indeed, the majority of baby boomers who have cashed out at least one retirement savings account during their working lives regret that decision. According to a study done last year of mobile workforce behaviors conducted by Boston Research Technologies, 53% of baby boomers who have cashed out once or more regret doing so, compared to 46% of Generation-Xers and 36% of millennials who had cashed out.

Frank Sinatra crooned that he had regrets, and baby boomers aren’t shy about expressing regret over cashing out. It’s easy to see why baby boomers who have cashed out wish they hadn’t. A Fidelity Investments study from 2014 found that a hypothetical 30-year-old worker who cashes out a 401(k) account with a $16,000 balance today could lose a total of $145,000 during a 26-year retirement — approximately $471 in cash flow per month.

The rise of auto portability

Because it is the easiest option, too many hard-working Americans, and especially millennials, wind up cashing out their small (less than $5,000) 401(k) savings accounts, or leaving them behind, when changing jobs. According to the same mobile workforce study by Boston Research Technologies, 62% of participants who rolled their accounts into their current-employer plans required help to move their balances forward, and it took many weeks, if not months, of effort to do so — cashing out would have been easier.

The problem of portability friction, which causes so many participants to cash out, screams for a solution that includes an industry-wide cooperative framework for seamlessly and automatically moving workers’ retirement savings forward to their current-employer plans as they change jobs. The good news is that recent initiatives from the White House and a bicameral group of Congress members have taken us one step closer to establishing such a framework to make it easier for retirement-savers to transport their 401(k) balances from job to job as they move.

In addition, the Bipartisan Policy Center recently called for the creation of a private-sector retirement clearinghouse to reduce the leakage of assets from the U.S. retirement system by facilitating seamless plan-to-plan portability (and auto portability for account holders with balances below $5,000).

If all of the five million Americans with less than $5,000 balances who change jobs every year would forego cashing out and instead transport their savings, the U.S. retirement system as a whole would benefit tremendously. Our Auto Portability Simulation demonstrates that if auto portability is widely implemented over a 10-year period, and stays in force for a generation, then $115 billion in new retirement savings would be added to the nation’s retirement system.

In its latest industry survey, published in January of this year, the Plan Sponsor Council of America found that 97.6% of defined contribution plans are capable of accepting roll-ins of account balances from other plans. To begin the process, retirement savers can consult the human resources departments at their current employers, which may be willing to pay for all or part of the cost to facilitate roll-ins. If not, workers can also retain a roll-in service provider for a flat fee.

Going back to the regrets Frank Sinatra sang about, the first-ever survey of retirees conducted by the Transamerica Center for Retirement Studies, published earlier this year, found that 60% of retirees ended up retiring sooner than they planned — and 76% of retirees wish they had saved more for retirement on an ongoing basis.

Ol’ Blue Eyes also sang about High Hopes, but for millennials, the best path to retirement security is to follow a careful plan rather than simply hoping for the best. Millennials can ensure they don’t wind up regretting not saving enough for retirement by learning from the mistakes of their elders, and avoiding the temptation to cash out or leave their accounts behind when changing jobs.

——

You’re invited:

If you’ll be in the San Francisco Bay Area at the end of July, we’d like you to join us for a special event focusing on retirement issues for women. The X Factor: Retirement Matters for Women is a free, two-part event designed to bring expert analysis and actionable information to consumers and professionals on how to plan for the best possible retirement.

On Wednesday, July 27 in San Francisco financial advisers and investors are invited to join us for an evening of cocktails and conversation about Social Security claiming strategies, tax-advantaged investments, longevity risk and more. Bob Powell will be the moderator, and our guest panelists will be Eleanor Blayney, Consumer Advocate for the Certified Financial Planners Board of Standards; Sabrina Lowell, Chief Operating Officer, Mosaic Financial Partners; and Frank Paré, President and Founder, PF Wealth Management Group. For more information or to RSVP, send an email to MarketWatchReception@wsj.com

On Thursday, July 28 at Dominican University in San Rafael, Calif., we invite women and couples to join us for a panel discussion and luncheon specifically designed to help people develop a holistic approach to retirement planning, focusing on both financial and lifestyle objectives. Our guests will come away with specific lists of essentials: must-dos and how-tos. For more information or to RSVP to this event, send an email to MarketWatchEvent@wsj.com

Both events are free and open to the public, but seating is limited and reservations are required. Please note the different email addresses for RSVPs for each event.

Source: Market Watch Personal Finance

IMF sees negative ‘repercussions’ from Brexit on global growth

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Source: Market Watch Personal Finance

The Brexit vote will have negative repercussions that will spread beyond the U.K. and Europe to the global economy, the International Monetary Fund said Thursday.

The risks arise mainly from macroeconomic and financial market impact of a sizable increase in uncertainty, especially about the future relationship between the U.K. and EU “and we believe this is likely to dampen growth in the near term,” said IMF spokesman Gerry Rice at the regular press briefing.

If the uncertainty lasts, it would mean even lower growth, Rice said.

Prior to the referendum, the international financial agency had added its voice to a chorus of warnings on the potential costs of a U.K. exit from the EU.

See: IMF warns of pressure on U.K. economy if Brexit materializes

The IMF doesn’t have any specific recommendation for U.K. and EU officials, but said they have a “key role to play” to make the transition predictable and smooth.

This echoes earlier comments from IMF Managing Director Christine Lagarde.

See: IMF urges U.K., Europe to work collaboratively after Brexit vote

“A quick agreement that is prudent and acceptable to all would be optimal, but rushing to a negative outcome would not be in anyone’s interest,” Rice said.

“I think this is very much a matter for the U.K. and the EU to work out,” he added.

In April, the IMF cut its global growth forecast to 3.2% from the 3.4% it was forecasting in January. The next update will come on July 19.

Read: IMF cuts global growth forecast, warns against nationalism

Source: Market Watch Personal Finance

Most top colleges don’t require history majors to study American history

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Source: Market Watch Personal Finance

History majors at top colleges don’t know much about U.S. history — or at least they don’t have to.

A new report by the American Council of Trustees and Alumni, a nonprofit group that advocates for accountability at schools, found that just 23 of the institutions among the 76 deemed to be the “best” by U.S. News & World Report’s 2016 rankings require history majors to take at least one U.S. history course.

Related: This chart shows the true cost of a college degree really depends on your major

Many elite schools, including Rice University and Johns Hopkins University, may require students to take courses about events from before 1750, or on East Asian and sub-Saharan African politics, without also demanding that they study the creation of the U.S. Constitution or the civil-rights movement.

The association said in its report that the absence of mandates that history majors take U.S. history classes with chronological and thematic breadth is “a truly breathtaking abandonment of intellectual standards and professional judgment.”

Students who make it to the top universities generally have taken U.S. history classes in high school. But Michael Poliakoff, president-elect of the American Council of Trustees and Alumni, said that doesn’t mean they have a solid understanding of the country’s founding principles or major social movements. The group found in a 2014 survey that a majority of U.S. college graduates don’t know the length of a congressional term or what the Emancipation Proclamation was.

Read an extended version of this article at WSJ.com.

Source: Market Watch Personal Finance

I put my friend on the deed of my home — he won’t give it back

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Source: Market Watch Personal Finance

Dear Moneyologist,

My granddaughter’s father, who is also a friend, had nowhere to stay so he asked if I would let him stay at a vacant house I owned. He was having a hard time, so I ended up having to put his name on the deed so he could stay there. We agreed to $300 monthly rent as the house was in poor condition and small. He was to be responsible for the house as we were really planning on just selling it to a ‘rehabber’ as we had no interest in being landlords nor doing major repairs. Fast forward three years and thousands of dollars of non-rent he decides his name is on the house and he is no longer going to pay the rent. He said that basically he’s done with me and keeping my house. He has a pit bull running around so I can’t even access the house.

What can I do?

Outwitted in Illinois

Dear Outwitted,

When you wrote that you put his name on the deed of the home, my first thought was, ‘I know how this is going to end up.’ I can’t see why it would make sense under any circumstances or why the city would care if his name on the deed or not, but he gave you a story, and you believed him. Then you signed on the dotted line. As Judge Judy would say, “That was your first mistake.” You didn’t have to do this, but you somehow felt ‘guilted’ into this. Your second mistake would be to lose sleep over this or pursue him through the court. It would cost you, and you likely would have no chance of success. Once you put someone’s name on the deed of a home, it’s pretty much irreversible.

You’re stuck with him, I’m afraid, pit bull or no pit bull. He now owns half of your home, assuming your name is on the deed too. You could attempt to take a “partition lawsuit” to remove his name from the deed, which would be costly. Given the circumstances, you would likely still have to pay him for his share of the house as he is a legal owner. There might be a chance if you could prove you were not of sound mind, there was coercion or some other kind of emotional abuse, but (a) that would be hard to prove and (b) that doesn’t appear to be the case here. It seems like you felt sorry for him, he had no place to live, and you decided to put him on the deed.

But there is a valuable lesson here for other people considering the same thing with, perhaps a friend or lover, which may be of little consolation to you now. Even if you were in love with this man and you were hoping to live happily ever after, you should think twice about putting his name on the deed of your home. For instance, if he moved on and racked up debts somewhere else, a court in Illinois could put place a lien — that is, a legal claim — against your property for this man’s failure to pay a debt. (In Illinois there is a homestead exemption that makes it difficult for a debtor to collect on a home that is a primary residence.)

Don’t miss: My elderly mother gives my sister more money than me

The Moneyologist receives a fair share of letters from people who fight and scrape to get their share of a family home. You’re not one of them. This is an opportunity for self-examination. Did you feel like your granddaughter or her father, or even God would think you were a bad person for not helping him out? You can’t make decisions based on what others might think. The disease to please can be an addiction, according to Harriet Braiker, the late clinical psychologist and author of “The Disease to Please.” People-pleasers are not just nice people, she wrote. For them, “the uncontrollable need for the elusive approval of others is an addiction.”

Take heart. You’re not the first person to do a good deed only to have a proverbial dump truck pull up in your yard as a thank-you. Chuck in Boston has been chasing $15,000 he loaned a friend a decade ago and Mary in Oaks, Penn. wrote in to say her husband loaned a family friend $175,000 four years ago and has been trying to get him to pay it back. The kind of person who accepts free money without a written loan agreement is unlikely to want to give it back. And the kind of person who persuades a friend or relative to sign over his/her house on a temporary basis is unlikely to give it up once he has his slippers under the coffee table.

They have the disease to please, too. But they only want to please themselves.

Do you have questions about inheritance, tipping, weddings, family feuds, friends or any tricky issues relating to manners and money? Send them to MarketWatch’s Moneyologist and please include the state where you live (no full names will be used).

Would you like to sign up to an email alert when a new Moneyologist column has been published? If so, click on this link.

Source: Market Watch Personal Finance

The big reason women drop out of engineering isn’t in the classroom

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Source: Market Watch Personal Finance

The number of women enrolling in engineering school has increased steadily over the past four decades but the number of women working as engineers hasn’t kept pace. Although the nation requires a technologically skilled and creative workforce to compete in global markets, approximately one-third of women entering engineering education programs leave the profession to pursue other careers.

This is a significant loss of talented and trained engineers. What accounts for this loss?

Engineering classes and assignments do not “weed out” women; indeed, data show that women students do as well or better than male students in their course work. Instead, women students often point to the culture of engineering itself as a reason for leaving engineering.

This starts with activities that are designed to show novices how the profession actually does its work, how to interact with clients and other professionals, and how to exercise discretionary judgment in situations of uncertainty. Many discover that the engineering profession is not as open to being socially responsible as they hoped.

And, during the more informal, out-of-classroom training and socialization, women experience conventional gender discrimination that leaves them marginalized. These factors appear to be the main reasons these accomplished women leave their chosen profession.

To understand how an occupation founded on a commitment to complex problem-solving so consistently fails to repair its well-documented gender problem, Carroll Seron, Erin Cech and Brian Rubineau and I collected personal accounts in the form of diaries and interviews from students at four Massachusetts engineering schools: MIT, Olin College of Engineering, Picker Engineering at Smith College for Women, and the University of Massachusetts at Amherst.

Over their four years of college, 40 students (19 men, 21 women) wrote to us at least twice a month (in total more than 3000 entries); 100 additional students were interviewed twice (38 men, 62 women).

Every student said their strong math and science performance, coupled with high SAT scores, led them to engineering. When they entered college, men and women were enthusiastic, anticipating futures of well-paid and interesting jobs. As one woman said, “I decided to pursue engineering because it sounded like the type of work I would enjoy and be successful at. I have always liked math and science… I tend to think logically and rely on analysis over emotions.” Women, more often than men, also said that they had initially chosen engineering to make a difference in the world, to apply engineering “toward some type of humanitarian work.” This initial difference became magnified during their education.

Men describe the mandatory group design projects as exciting turning points where theory and practice come together. “I made a pretty big stroke of progress last week,” one student wrote in his semimonthly diary, “I ended up proving the professor wrong on something she had done last year, which actually helped us find better results (well, also more correct results)… It’s really a blast working on something like that.”

Women’s team experiences are often less positive. Kimberly (a pseudonym) wrote: “In our design class, two girls in a group had been working on the robot we were building in that class for hours, and the guys in their group came back in and within minutes had sentenced them to doing menial tasks while the guys went and had all the fun in the machine shop.” These women report being relegated to performing routine managerial and secretarial functions. Some women interpret this as an occasion for leadership, while others, as Kimberly reported, see it as exclusion from the real engineering work in the machine shop.

Australia is pouring money into health-care and technology as mining and manufacturing slow. Government-backed projects include a giant South Australian medical research center and a lab developing a new material: graphene. Photo/Video: Paolo Bosonin

Internships and summer jobs provide important opportunities to “try on” the role of professional engineer. Yet, these work sites often mirror the experiences in students’ group projects: men are assigned interesting problem-solving tasks where they hone their technical skills while women’s expertise is not valued or cultivated.

Moreover, blatant sexual harassment undermines women’s commitment to engineering. Dylan described his “amazing experience of presenting to people who are older, more experienced and better educated … but nonetheless interested in what I am doing.” Jennifer reported that her supervisor reminded her, “No tank tops, now. We wouldn’t want to distract the guys” despite the fact that she had never worn such attire nor short skirts to her internship.

In one sense, we might say these experiences prepare women for what careers in engineering will be like. In another sense, the anticipatory socialization is damaging because talented and skilled women leave at such high rates and explain their leaving in terms of the culture of engineering. It turns out that persistence and leaving are both products of a profession that hasn’t yet learned how to take women seriously.

Susan S. Silbey is a professor at the Massachusetts Institute of Technology’s Sloan School of Management.

Source: Market Watch Personal Finance