Fed Chairman tells Penn business school that technology diminishing corporate leaders' power.
This guy should have quite a resume when he begins job seeking next year.
WASHINGTON - Federal Reserve Board Chairman Alan Greenspan on Sunday gave business school graduates a taste of the sharp-elbowed workplace ahead: they will have to compete with him for a job.
"I have more in common with you graduates than people might think," he said in the commencement address to the University of Pennsylvania's Wharton School in Philadelphia. "After all, before long, after my term at the Federal Reserve comes to an end, I too will be looking for a job."
The Federal Reserve released a text of Greenspan's speech in Washington.
The 79-year-old central bank chairman must step down early next year when his term on the central bank's board expires at the end of January.
Lest the newly minted MBAs think their youth gives them an advantage over Greenspan, the Wall Street Journal reported Friday that the Fed chairman has become more fit recently by playing more singles tennis and has lost 20 pounds as a result.
Greenspan reminded students -- and anyone else paying attention -- that his resume is likely to be a lot longer than theirs.
"I could offer all kinds of advice to today's graduates from my nearly six decades in private business and government," he said.
Greenspan told graduates that modern technology makes company information more widely available and that corporate captains face diminished power and closer scrutiny as a result.
"With information systems now accessible to broader ranges of managers and other employees, the monopoly power that proprietary information affords has been significantly reduced," he said.
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WASHINGTON - Federal Reserve Board Chairman Alan Greenspan on Sunday gave business school graduates a taste of the sharp-elbowed workplace ahead: they will have to compete with him for a job. 
