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America's Equipment Is Getting Seriously Old

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America's Equipment Is Getting Seriously Old

Since the financial crisis, businesses reluctant to invest in its operations have been using much of their cash to reduce debt or are pay shareholders in the form of dividends.

"The tide is turning," Charles Schwab's Liz Ann Sonders writes. "The private sector is largely through its painful deleveraging process; business confidence indexes have turned up; and bank lending—notably commercial and industrial (C&I) lending—is on the rise."

Much of the recent economic data suggest tha business spending boom has already begun. Look forward, surveys show that business spending plans haven't been this high since 2007.

"While consumption growth has slowed this year, and tight credit has led to disappointing housing activity, we're finally seeing at least a temporary burst of stronger business capital spending," Morgan Stanley's Vincent Reinhart said. "Beyond the recent acceleration, we look for capital spending to grow at a 4% to 5% pace over the next couple years."

Importantly, corporate America's capital equipment is getting old.

Aging equipment combined with economic growth will necessitate an increase in business spending, which in turn should be good news for economic growth.

"The average age of private fixed assets is at a 50-year high," Sonders writes.

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INSTANT MBA: Google HR Boss Says This Is The Key To A Perfect Résumé

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September 30, 2014

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You've checked (and double- and triple-checked) your résumé for typos. You made sure it's clearly organized, provides a relevant job history, and highlights your soft skills. 

And yet you're still not hearing back from the dozens of job postings you've applied to. 

The likely problem: your accomplishments fail to stand out because you haven't provided a concrete measure of your previous work, writes Laszlo Bock, senior vice president of people operations at Google, in a recent LinkedIn post.

"You might feel like it's hard to measure your work, but there is almost always something you can point to that differentiates you from others," he says.

In fact, Bock has a simple formula for quantifying any experience that will transform your résumé from a list of duties into a clear picture of your achievements and skills: Accomplished [X] as measured by [Y] by doing [Z].

"Start with an active verb, numerically measure what you accomplished, provide a baseline for comparison, and detail what you did to achieve your goal," Bock suggests.

For example, take this sentence from a sample résumé: "Studied financial performance of companies and made investment recommendations."

Bock rewrote it to say this: "Improved portfolio performance by 12% ($1.2M) over one year by refining cost of capital calculations for information-poor markets and re-weighting portfolio based on resulting valuations."

The second option clearly stands out because it gives exact numbers, clarifies how significant 12% is, and provides details about how the applicant achieved this, therefore boosting their credibility. 

The more details you can provide, the better, because it proves that your skills and live up to expectations. "Even if your accomplishments don't seem that impressive to you, recruiters will nevertheless love the specificity," Bock says. "'Served 85 customers per day with 100% accuracy' sounds good, even if the customers are people you rang up at a grocery store."

Click here to read the full LinkedIn post.

Want your business advice featured in Instant MBA? Submit your tips to tipoftheday@businessinsider.com. Be sure to include your name, your job title, and a photo of yourself in your email.

SEE ALSO: Google HR Boss Says 58% Of Résumés Get Trashed Because Of One Spelling Mistake

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