There are plenty of signs of ageism in corporate America.

American culture relentlessly celebrates youth. But in the corporate world, 80 is the new 50. Advances in medicine make a retirement age of 65 seem like a relic. Until recently, aging big-shot executives were generally happy to play golf, become ambassadors, or just sail away on their yachts. Today, not so much.

Most Type-A M.B.A.s could outpace these old-timers in a 100-meter dash. (Self-proclaimed workout stud Sumner Redstone, the 85-year-old chairman of both Viacom and CBS, might give the youngsters a run for their money.) But these are marathon men, not the sprinters who thrive during bubbles. In recent months, fiftysomething CEOs of Wall Street firms and large banks have been decimated by the credit crunch, just as twentysomething tech stars were crushed in the 2001 NASDAQ crash. Unlike their younger counterparts, today’s headline-making grandparents have experience managing through the last serious oil shock and prolonged period of financial pain in the 1970s. Kirk Kerkorian began his career during the Great Depression. These ancient rock stars have also proved willing to learn a repertoire beyond their greatest hits. Rupert Murdoch, 77, beat younger moguls in the race for MySpace and is now busily remaking the Wall Street Journal.

As they’ve moved through life, the baby boomers have altered societal attitudes on everything from smoking marijuana to Botox. As boomers coast into their golden years, it’s likely the acceptance of older workers at every rung of the corporate ladder will grow. In the 1960s, the boomers’ mantra was: Don’t trust anyone over 30. In the 2010s, it’ll probably be: Don’t trust anyone under 70.

This entry was posted on Tuesday, June 10th, 2008 at 1:35 pm and is filed under Business, Career, News, People, Wall Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.