(FORTUNE Magazine) – CAREERS/COVER STORIES 46 HOW TO GET AHEAD IN AMERICA Climbing in your career calls for being clear about your personal goals, learning how to add value, and developing skills you can take anywhere. by Louis S. Richman

58 LANDING THAT FIRST REAL JOB Despite the headlines, today's graduates will find jobs. But lots of their employers will be companies you've never heard of. Here's how to track them down. by Lee Smith

INFORMATION TECHNOLOGY 62 INTEL GOES FOR BROKE Gung-ho CEO Andy Grove uses "competitive paranoia" to stay on top in microprocessors. Now he wants to move in on consumer electronics. Not many executives would have the stomach for such risk. by David Kirkpatrick

71 TECHNOLOGY TO WATCH Warriors coveted swords of Damascus steel, but making it is a lost art. Today's version may lead to stronger, cheaper products. by Alison L. Sprout

TRADE 73 CLINTON'S HIGH-RISK TRADE TACTICS The Administration has opted for an in-your-face approach to China and Japan, one rooted more in campaign politics than in economics. So far it has produced little but the threat of trade wars. And that's made business fearful. by Rob Norton

CORPORATE PERFORMANCE 76 KODAK GRABS FOR GROWTH AGAIN CEO George Fisher understands how to build and sell electronics, but can he cut fat and woo shutterbugs? The new chief executive must be able to do all three. by Peter Nulty

81 COMPANIES TO WATCH After prices for memory chips plunged in the early 1980s, Dallas Semiconductor turned to creating niche products for thousands of customers -- a strategy that has led to seven straight years of record profits. by Antony J. Michels

Also: Perceptron, a Michigan maker of measurement systems, and Supreme International of Miami, which designs and imports men's sportswear.

HEALTH CARE 82 GETTING HEALTH ALLIANCES RIGHT While virtually every health reform bill in Washington calls for or allows health alliances -- and some types even make sense -- they're scarcely tested. by Edmund Faltermayer

SELLING 90 TEENS: THE MOST GLOBAL MARKET OF ALL They have moxie, money, and amazing similarities in taste. If you're selling to teens in Los Angeles, try Tokyo and Santiago too. by Shawn Tully

THE ECONOMY 100 HOW NOT TO HELP HIGH TECH Washington's plan to police the information highway could cost American computer and software makers billions of dollars. The winners will be foreign competitors. by James Aley

MONEY & MARKETS 103 HOW TO FIND A FINANCIAL PLANNER It's easy to spend good money on bad advice. So to help your search, FORTUNE provides phone numbers and some key questions to ask before you sign on. by Terence P. Pare

MANAGING 110 YES, YOU CAN WIN IN EASTERN EUROPE It's not just a market for Western goods, says Percy Barnevik, CEO of Swiss- based ABB, but also a place to produce high-quality products at low cost. by Paul Hofheinz

DEPARTMENTS 6 EDITOR'S DESK 10 INDEX 14 NEWS/TRENDS GE stumbles while P&G trips, beer clubs make a splash, Dick Tracy dodges traffic in Seattle, which tobacco bosses smoke, and more.

21 FORTUNE FORECAST The rise in interest rates will slow homebuilding, but only modestly. by Joseph Spiers

Economic Intelligence: whether more jobs would spur inflation, a bull market in farmland, and Europe turns brighter.

27 PERSONAL INVESTING From the bitter experience of the recent market selloff, six valuable lessons. by Richard S. Teitelbaum

Also: A play on Europe's recovery, and a rare opportunity for the truly yield- hungry.

43 LETTERS TO FORTUNE

149 PRODUCTS TO WATCH Newtron Products' filter cum smoke detector, Omnifax's G5 compact office machine that does it all, and more. by Wilton Woods

150 BOOKS & IDEAS Discourses on using and keeping power, trading with East Asia, and making the most of total quality management.

153 KEEPING UP , Swats unlimited (ask Mr. Statistics), a personnel department veteran speaks out, Carnegieism, and other matters. by Daniel Seligman

COVER: Vic Williams in a ring of his ASSI employees, who typify new technical workers -- skilled specialists whose career identity derives from their occupation, not their employer. Photo by David Strick (Onyx).

ABOVE: Michigan State junior Jay Prassl is charting his career moves as carefully as he plans his frequent rock climbs. Photograph by David Strick (Onyx).

FORTUNE (ISSN 0015-8259). Published biweekly, with three issues in October, by Time Inc. Principal office: Time & Life Building, Rockefeller Center, New York, NY 10020-1393. Reginald K. Brack Jr., Chairman; Don Logan, President; Joseph A. Ripp, Treasurer; Harry M. Johnston, Secretary. Subscriptions: U.S., possessions: one year (27 issues) $52.95; Canada: one year (27 issues) $53.73. Second-class postage paid at New York, NY, and at additional mailing offices. Authorized as second-class mail by the Post Office Dept., Ottawa, Canada, and for payment of postage in cash. Member, Audit Bureau of Circulations. POSTMASTER: Send address changes to FORTUNE, P.O. Box 30604, Tampa, Fla. 33630-0604. Customer inquiries: FORTUNE, P.O. Box 60001, Tampa, Fla. 33660-0001. Phone: 1-800-621-8000. ) (c) 1993. Time Inc. All rights reserved. FORTUNE is a registered mark of Time Inc. For subscription queries, call Customer Service at 1-800-621-8000. Time Inc. GST R122781974.