Does anyone else find it politically incorrect?

It all depends on the context in which it is used. There is a big difference between using these names as a term of endearment and using them to be derogatory. I see no issue with it if it a show of genuine affection. It is also far more understandable for say a middle aged man to do this than a guy in his 20's too. Political correctness sometimes goes too far and some people just need to lighten up. What is worng with greeting someone with "Hello my dear!" surely a statement like this is harmless and has no venom behind it??

i haven't found it,because i am in china. in china,you will not find that case,and you will be ok ,because every body say a little to women,because of the culture. i hope you someday come to china and work at china. you will be respect by every one. i think you also can earn many money as in your country. do you have a msn, my msn is fwanga@hotmail.com, can you add my msn as your friend.

If he does use the terms of endearment to all the employees, he may seem harmless and its best ignored. It also depends on how you view your interpersonal relationship with your boss, in the sense of how important or how much do you think he values you as part of his team. To the people who do mind, I do not see any issue with the word "dear " at all.

I think it depends on the person saying it, how well you know them and the tone its said in. However, I think it would be unprofessional to use those terms in front of clients. My current manager is female but both male/female colleagues use the terms love, honey, sweetheart, mate, duck - there's no underlying sexism.