This document consists of the two 1998 issues of a semiannual newsletter that provides current information and research on the professional world of early childhood administration. The Summer 1998 edition provides a "Profile of Early Childhood Center Directors." This profile finds that: (1) individuals were promoted to directorships because others saw leadership ability; (2) state licensing standards do not require formal preparation for center directors; (3) few opportunities for specialized training in administration; (4) most directors are eager for support; (5) directors receive poor pay; (6) more directors are pursuing degrees in early childhood education; (7) deep commitment to early childhood education; and (8) directors are less likely to leave their positions than other child care personnel. The Fall 1998 issue presents the article "Investment in Directors' Training Yields Big Payoffs." The article examines data from two models of director training which provide evidence that well-trained directors run higher quality programs. Drawing from these studies, the article indicates that there are improvements in directors' perceptions of competence, in organizational climate, and in classroom quality. Conclusions based on these studies include that the greater the investment of training dollars, the better the outcomes for programs, and that continued effort in the director credential movement and broadened professional development opportunities for early childhood administrators is necessary. (SD)