economics-times

I enjoyed it since it gave me insight on how TPS evolved and allowed me to better understand not how TPS works but more why.

There are a lot of books about the Toyota Production System, but this is one of the most useful for those actually attempting to implement elements of this system. Most of the books on TPS by western authers are just superficial glosses written by MBA's who don't seem to have a clue how to make anything. This book is detailed, specific, clearly written, and very well translated. Some of the material is repetative, nevertheless this is the book to get on TPS.

An excellent book on field of productivity accounting - introduces to Sumanth's approach, where productivity means more than just units per labour hour. Easy to read and detailed enough for applying the framework on a company.

This book is an amazing new way of management thinking. It is clear, concise, and well organized. The concepts are outstanding and will surely be adopted as the new way to optimize performance in any company. I highly recommend this book to anyone who plans on running a successful company in the 21st century.

The beauty of this book lies in the fact that it does not attempt to analyze or comment upon. It simply presents the stories of ordinary men and women of this century in more or less their own words. All their lives in some way revolved around the dark world of Pennsylvania coal mining in the anthracite area of the Panther Valley. They are all refreshingly human, wonderfully straightforward, and tell deeply moving stories. Each in his or her own way reflects the rich cultural and ethical traditions brought here from European shores. The beauty of the book is its utter simplicity in approaching the mystery of the human personality against the backdrop of the drudgery of labor. It's a wonderful slice of life.

Most of us don't have books written about the neighborhoods and local institutions that we grew up with. This is particularly so for places off the beaten path like the Pennsylvania coal regions. I grew up in the 50's and early 60's just a few miles from the coal towns that form the geography of Mr. Dublin's book and went to some of the same schools as his narrator's children. My family worked for the coal companies and the garment factories at various times. These stories ring true from my experience - the reliance on family, the acceptance of 50 mile commutes to work rather than leave the area, the accurate concern that everyone for miles around knows your family business. The real value of this book for me is that these narratives show the commonality of experiences that I thought were unique. And, it also fills in many gaps about the social forces at work that I didn't realize existed in the lives of that generation. They shielded us from the dangereous aspects of some jobs, the lack of job security, labor-management tensions, and the potential need to migrate to make a living. For those readers without the personal ties to the coal regions this book provides a view of how tough the "golden years" of the 50's were for some Americans.

A relative glut of periodicals and books exist on decisionmaking, whether personally or professionally. Many have solid foundations, many are commercialized tripe. In MAKING DECISIONS, authors Russo and Shoemaker hit on a timely subject for professional managers or entrepreneurs. The economy has plummeted and the stock market has deflated propelling each individual responsble for their company's path to success into crucial, perhaps vital decisions on a daily basis. And the rapid rate of change is forcing all executives and managers to make decisions faster.

Given the current environment, it is well worth the time to revisit an executive/manager's most basic of tasks: making a decision...a subject devoid of attention except in academic journals or business books. In a straightforward, well-presented fashion, the authors break down the decisionmaking process into four steps:

1. Framing or deciding what you are going to decide-and not decide;
2. Gathering intelligence-real intelligence, and not just information that will support your internal biases;
3. Coming to conclusions-determining how your company acts on the intelligence it gathers, and;
4. Learning from experience.

The authors guide the reader through each of the steps providing insight into the process, highlighting key concepts, and providing case studies and worksheets so the reader can begin to track their own issues at hand. Russo and Shoemaker have presented this material in such a way as to demystify the "process" of decisionmaking. The "process" gets so much attention as being clandestine, complex and erudite. However, by providing a detailed framework reflecting a relatively mechanical and logical process to making a decision, the authors have uncorked the mystery. When confronted with the need to assess a situation, gather information and reach a decision, most managers depend on a hit-or-miss approach. This approach is different from executive-to-executive and is measured relative to the frequency and experience an executive may have "putting out the proverbial fire." While there's nothing inherently wrong or incorrect about this type of venerable process, this process typically results in a lower-end spectrum result when nothing but mid-high to high results will suffice as a necessary competitive edge.

The alternative approach presented by the authors allows executives/managers to reframe issues by asking such questions as "What is the crux of the issue that I am facing?" so that they don't end up solving the wrong problem (i.e. analogous to "looking from the outside in"). It also allows them to increase their options by doing such things as "not necessarily taking yes for an answer," when it comes to initial research findings. In fact, these alternatives may result in something quite creative and innovative, a veritable whack on the side of the head.

As they should, the authors stress to the reader that improving one's decisionmaking skills is not an ironclad guarantee to success. Execution of a solid operating (business) plan and being in the right place at the right time (luck) are factors tantanmount to any successful venture. However, it is rational and logical that if one makes better decisions, one's odds of success are bound to increase. And, as one gains experience in making decisions and acting upon the achieved results, desired or not, success rates grow exponentially.

A solid read.

I was considering to buy this book, but I had a hard time making up my mind...

This book is more then a time efficiency book but a how to book on managing all aspects of the office from scheduling and pructing meetings to effective communications. This is good starting and improving your SOHO (small office / home office) operations. It starts off each chapter discussing popular beliefs. I loved the chapter on "work tapes". People have different beliefs about work from being "good for you" to "the harder you work the more successful you are". The truth regarding discipline. The difference between being efficient and effective. Doing the right job (efficacy); doing the job right
(effective). Handing disruptions; papers; goal planning; the right way to use a TO DO list. The only problem is the material is dated to 1979. (Before email, teleconferencing and Intenet) My copy had a printing error on page 267 the publisher missed printed the pages and started over with page 33. Missed "efficient Communications") This continued for about 40 pages before picking up with last chapter of the book. Even though dated and with this defect I enjoyed the book. It's an easy read and I highly recommended it.

This book is best book on time management I ever read. I'm sure I squeezed out an extra half hour each workday with these principles.

Investors contemplating retirement, but stunned by losses sustained in the extended bear market that began in the spring of 2000, will find hope and encouragement in Wall Street Journal columnist Jonathan Clements' "Now What?". This is a do-it-for-yourself repair strategy for baby boomers with badly damaged bubble portfolios. First, face facts, we are told: You've got a "bone-head" portfolio, and it's not likely to come back in value, so sell your losers. Forget the "foolish beat-the-market fantasy" promoted by Wall Street's brokerage houses and money management firms. Invest to capture market returns with stock index funds. Diversify with stocks, bonds, and real estate. Specifically, you should own large and small US stocks and foreign stocks. For the bond portion of your portfolio, use inflation indexed treasuries and short-term corporate funds, and to boost your income, consider high yield bond mutual funds. Clements recognizes that "this will be the decade of the dividend and interest payment". So, REITS (real estate income trusts) with their high, single-digit returns, should represent 10-15% of your portfolio. In all this, Jonathan Clements is in good company: W. Bernstein, C. Ellis, B. Malkiel, L.Swedroe, B. Schultheis, et.al., have recently written (or updated) books with similar conclusions. Clements' contribution is in the timeliness of his insistence that boomers can salvage their own retirement plans by acting to keep investment costs in check, diversifying, and saving "like crazy". Indeed, the investment process should be simple to follow. "Why are we such sluts for sophistication?" Clements asks with exasperation. Readers may be skeptical that a fifty-year old, in an example, who hasn't saved a "nickel" for retirement can accomplish much by age sixty-five. But this late starting investor is not the book's primary focus. 'Gilding the Golden Years' (Chapter 7) is one of the author's better chapters. Investing may be "simple", but it is also an art, so this frequently quoted columnist's portfolio advice is of value. Clements is clearly intrigued by a strategy of establishing multiple sources of investment income during retirement. In addition to income from social security, 401k-style plans, pensions, and humbled securities portfolios, investors might consider an immediate annuity, a reverse mortgage, or even part-time work. After all, if it's true that investors should take no more than five percent of their investment assets each year for income, working part-time to earn five thousand dollars is like having another hundred thousand dollars in retirment assets. And an unconventional idea like a reverse mortgage may take on a new practicality for today's generation of soon-to-be retired. Investors paralyzed by their recent bear market experience will find sound, helpful advice in this book.

As a CPA and registered investment adviser, I am always looking for a way to explain investment principles to my clients in a way they can easily understand. This book accomplishes this all-important function, and is a must read for investors. Jonathan presents common sense information which is unbiased. Many investors would profit from following the guidelines Jonathan presents, and should.

Jonathan presents a realistic approach to investing that avoids the day to day stimuli that can lead investors astray. The book also provides hope to those who've truly "lost it", either in dollar terms or in terms of their approach to investing.

People who read and understand this book will be ahead of those who don't, whether they invest on their own or use an adviser. I know anyone who has read this book will be better educated and will better understand investing.

If you need a little inspiration in your life and feel like your being stepped on all the time by the big guys, get this FANTASTIC read by Jim Hightower!Incredibly researched, a biting down to earth Texas humor, and above all it makes you feel like you can do your small part to make this world a better place!This guy covers all the meaty topics, from the Enron heist, to the big corporations (Walmart) destroying all the small town mom and pop businesses, to child slave/sweatshop labor, Bushes environmental 'terrorism' acts (a term I made up), and the best of all small stories of how the regular 'ol jenny and jims of this great America take on these crooked corporations and injustice in our daily lives and beat them in the end!I love Michael Moore a lot for his expose of the daily attack on our American way of life from the Bush administration, but I have to say he is lacking one thing that Hightower totally delivers, and that is optimism and a good spirit!This book could not have been better in my opinion, and it surely is not biased and/or partisan/one sided (knocks on the Republicans & the Democrats).At times, hardcore political commentary can be hard to read if it becomes to fact based with no trace of humor, but with Hightowers' unique sense of humor and great wit, you will never be prone to a sudden dose of sleepy eyes.Way to go!

Jim Hightower has issued a call to arms in this his latest book. It is a call to action that should be answered by the vast majority of Americans for the current system is serving very few of us. Hightower has only stated the obvious in regard to our current government structure but he does so in a very clear manner that may just get the attention of America. Too often we just accept things as they are because speaking out is too much trouble. If we aren't careful, we are going to lose the America we love to corporate greed and corruption. Bush won't help us for he and his whole crew are company men all of the way and are doing everything they can to help the process along. In Jim's words, "Never have so few done so much for so few." The things Hightower documents in this book are not only unbelievable but also downright scary.

The Democrats don't escape Hightower's wrath either. Bill Clinton and the Democratic Leadership Council are just about as guilty as are the Republicans. These people figure that if they don't fight the corporate greed that is ruining America they can expect large campaign contributions. It has obviously worked since as Democrats we no longer seem to have the trouble raising money that we used to. On the other hand, as a party we no longer have a soul. The reason the Democratic Party exists is to fight for labor, the poor, and all of the other good hard working Americans who look to our party for protection from the, "haves and the have mores." Quite simply, I don't care how much money Microsoft puts in DNC coffers; our principles should not be for sale.

Just as the reader starts to get really depressed, Hightower hits us with the good news. People all over the country are starting to stand up and be counted. It's not a political thing, as both Democrats and Republicans have worked together for the common good of their community. From little projects like planting flowers along a highway to taking on and defeating big corporations who want to bring part-time minimum wage jobs to the community while destroying local business. Yes friends, the MacWal-Marting of America can be brought to a halt and Jim has the stories to prove it. This book also has the dirt on some of America's corporate giants and some of the things these people do in the name of profit are just downright disgusting. I'm not sure if I will ever go into a Wal-Mart again. There are also chapters that expose the food industry, sweatshops, (hello again Wal-Mart) and the decline and fall of our right to privacy.

Ending on a high note, Hightower issues his call to action. He has shown the reader how corporate greed and government avarice can be defeated and at the end he gives us the contact information we need to join the fight. This is an excellent book, laced with both humor and acid. Every American should take a look at this book. You may not agree with all Hightower has to say but he will most assuredly give you something to think about.

If you ever wanted to know the details about how our country is going wrong this is the book to read. I learned things that the media surely isn't inclined to tell us. This isn't just a book to attack the current presidency (thought it certainly should be attacked by a populist revolution) but it is an attack on how our current politics works. Ever wanted to know how much corporations give in donations to both parties? Ever want to know how Walmart can afford to use that smiley face to indicate low prices? Ever been depressed by what's going wrong with this country and wanted a list of websites to get more information on how you might be able to make a difference? This is the book to read. If you read nothing else all year, read this.

This is a great book from a man who obviously knows investing from experience (he has been successful). The book describes investing in Value stocks (moderate to high price stocks in steady companies) using technical analysis.

Patterns of successful stocks in history are reviewed and a system for choosing winning stocks is explain using detailed company information and charts. If you don't like math or don't want to spend time weekly reviewing your investments, this book is probably not for you.

Ture novice investors (like myself) BEWARE. Mr O'Neil does not describe many of the basic concepts he discusses in his book. I found myself becoming frustrated in several chapters as he discussed terms like "price consolidation", "overhead supply","upside buypoint", "pivot point", etc. After reading the book, I went and bought a more basic book (The Neatest Little Guide...5 Stars) to help me as a true novice.

In summary, I am glad I purchased the book. I now understand the investing viewpoint from a Value/Technical investor as well as the patterns of past winning stocks.

If you are a beginner or a novice, this book can introduce to the market and give you one view on how to make money trading. This was the first book I read to learn about stock trading. It has important lessons that can come cheaply if you just listen to them out of the book (Buy rules, sell rules, etc...). I would have saved thousands had I just followed the simple rule of selling at an 8% cut off point. It has taken me over 5 years along with thousands of dollars in unnecessary losses to round out my education, but this book should be helpful for anyone who wants to learn short to intermediate term trading.

If you combine O'Neil's theories with your own ideas and throw in some technical analysis and hard work, you can be well on your way to riches. For charting, check out tc2000.com, great software.

I saw one review ripping on technical analysis and the guy said he was a professional. Technical analysis should be used for buying and selling in my opinion; otherwise you are just letting chance and instinct determine when you buy and sell. This book will give you a brief idea of charting and technical analysis but if you want a more detailed description check out Technical Analysis of Stock Trends by Edwards and Magee.

This book is one of the greatest stock market investing primers that I have ever seen.

You know, if you want to drive a car, you need to get a license on how to drive a car. WHY? Because the Government says so. (That's because it's a matter of life and death and the government wants to protect you)

When it comes to investing, it's not that way. While I am not proposing the government to tell you what to read, (I love the freedom that I am provided with in the USA) I must say that people should become more learned about investments before putting their hard earned money in stocks.

I watched too many people BET their life savings on the stock market during the late 1990's, only to be heartbroken and dead broke when the bubble crashed. Reading books like this one, and applying its principles--will help you become a winning stock market investor. Highly recommended.

Zev Saftlas, Author of Motivation That Works: How to Get Motivated and Stay Motivated

I read this book about a year ago, and still regularly think of it and apply it's concepts in my life and business.

I have worked in sales for years, so I am very familiar with the 80/20 concept as relates to business. Simply stated in my field of real estate it's a proven fact that in different markets of the country and over time 20% of the agents make 80% of the income. This is true in other types of sales as well. Of course the flipside of this is that the large 80% of the agents only make 20% of the income. Basically a small number of people make most of the money. Why this is has been debated, but it seems to be a consistent rule that holds.

Koch points out how 80/20 is seen in other areas. For example 20% of taxpayers account for 80% of IRS revenue. What Koch does then is expand this rule to all aspects of life. He says that the 80/20 rule holds for all kinds of activities. He says that 20% of your work activity is responsible for 80% of your productivity on the job. And that 20% of your leisure time is responsible for 80% of your happiness. When I read this I just knew intuitively that it is true. So the next step is to figure out what the 20% activities are that are paying off the 80% returns in your work, or personal life, or anything. And then devote your energy into those activities and receive huge returns. He says that we're better off focusing on our strong suits where we're most effective rather than focusing our attention on the areas where we think "we need to improve". This idea alone is priceless.

This is practical, useful material that you can put to use today in your business and personal life. Koch has some seemingly offbeat ideas about playing with time unconventionally, boosting happiness, productivity through being "intelligent and lazy", and more that I loved. It really opened my mind to a range of possibilities.

Koch is a successful businessman who says he researched and could find no other books written on this subject.

The principle is simple, but counter-intuitive: Nature creates imbalances. This is true for money (20% of people have 80% of the wealth), crime (20% of criminals commit 80% of crimes), energy usage (15% of population uses 85% of energy), competition (20% of suppliers have 80% of market share)and even carpet (20% gets 80% wear and tear). . .

In a non-linear world:

1) Celebrate exceptional productivity . . .look for the short cut. . .be selective. . . only do what you do best. (pg 38)

2) Keep it simple. Size often creates complexity - which in turn creates inefficiency. Pour your effort into the 20% that makes a difference. Sometimes it is better to lose unprofitable customers to competitors (pg 93)

3) Hold on to your good customers and employees forever!

4) The key to 80/20 is not time-mangement. Don't try to do more. Just do more of the right things.

5) Do what you enjoy because enthusiasm and success is a complementary cycle.

6) Three great lists:
The top 10 low-value uses of time (pg 161)
The top 10 highest value uses of time (pg 161)
The ten golden rules for career success (pg 194)

I read this book out of curiosity, having heard about the principle many times but never actually analysing it. After reading the book, I am now rethinking all my activities, professionals and personal, and finding oasis of value that I can easily harvest leveraging the Pareto ideas.

Excellent book

The Road to Wealth is the most comprehensive book I have ever seen about describing the details of terms, practices, tax laws, and legal rights for everthing from credit cards, to filing for bankruptcy, to owning annuities, to setting up housekeeping with someone you're not married to, to buying long-term care insurance, to avoiding payment of estate taxes.

The book's list of sections gives you a little flavor of this tremendous scope:

Managing Debt; Financial Intimacy; Home Ownership; Insurance; Paying for College; Retirement Planning; Stocks; Mutual Funds; Bond and Bond Funds; Annuities; and Wills and Trusts.

Ms. Orman has organized the book by putting a brief essay (less than one to about two pages) at the beginning of each section sharing her general views on that subject, then breaks the section into smaller subjects (in Managing Debt, you get different parts of credit cards, student loans, and bankruptcy, for example), and within each smaller section are a series of questions and brief answers. Many of the questions are definitional, and will take you beyond what your dictionary will tell you.

The sections vary a lot in their usefulness. The first one was on credit cards, and was quite well done. But there is almost as much information on filing for personal bankruptcy as there was on credit cards, even though the people who need the latter are only a small percentage of the people who use the former. There is a lot of material, for example, on stocks but it focuses on terms rather than giving you practical advice on how to think about stock investing. It is only two-thirds of the way through the mutual fund section that she points out that indexed funds outperform 85 percent of professional money managers. Most people don't need to know very much about bonds, bond funds, or annuities, yet there's a lot of material on those subjects.

These sections could have used much more conceptual material to explain how to select objectives, and pursue them.

In general, I found the material mostly accurate, and seldom in conflict. Here are the kind of problems that you will find. In two parts of the credit card section, you are told two different ways to cancel a credit card account (one says you must write or it does no good, and the other tells you just to cut the cards up and call the company to cancel). Ms. Orman says a lot of nice things about Registered Investment Advisors without pointing out that it takes no training or education or other qualification to become one. In the section on having your home inspected before buying it, she does not point out that most inspectors are in the pockets of the selling agents and will rarely tell you what the bulk of the problems are.

I compared these sections to the best specialist books I had read on the same subjects, and found that only her section on credit cards was as good as a more specialized book. In all other cases, her material was less well developed, less focused, and less helpful.

I also checked to see where I found new information that I had not known before, and found that less than ten percent of the material was new to me. But I do read a lot more finance books than most people, have been an investor for a long time, am an attorney, and have had experience with many of these subject materials.

I thought that the best use of this book was for people who didn't know where to start, but suspected they needed help. Each section discussed the kinds of professionals and organizations that a person can call on for help, approximately what they do and what they will cost, and how to work with them. I suspect that that's how most people will be using this book 10 years from now.

A good secondary use is as a source of definitions.

When you buy the book, you also get a free e-newsletter through the end of 2002 to bring you updates on this information. Presumably, you will need to buy that after 2002 if you want to stay up-to-date.

For eighteen year olds with little knowledge of personal economics, this will be a five star book that will make an important difference. It will also be valuable for those who have relied on others to handle their finances in the past, and now want or have to take on that task for themselves. The book will also be a good choice for those who want to learn more about at least two of the major subject areas and feel they know little now. Few will find this book to be a primary guide for making financial investments.

If you find one of these subjects to be valuable after reading hte book, I suggest that you seek out a more specialized book to deepen and focus your understanding of that narrow area.

After you finish examining the many financial angles displayed here, I also suggest that you think about how you can simplify your financial life so that it serves your needs without taking more time than you want to spend.

Get the information you need to make good choices where it matters!

The book provides us with a wealth of practical financial answers in a very sound, straightforward, honest, and easy-to-understand language. The core emphasis of the book is to help you create a strong, debt-free foundation to amassing assets and protecting them in periods of economic downturn; from buying a home to providing for loved ones; from investing with confidence and navigating the markets in good times and bad to securing reliable income for our later years. If you are interested or have any of these financial needs you need this valuable book. This is a book designed to help you take action-wherever you are in your life and whatever your needs. If you think all the advice you need is from your local bank then you have obviously missed the boat.

FinanacialNeeds.com

I bought the audio version of this book a couple of years ago and thoroughly enjoyed it; although I felt at the time that it was below 9 Steps and Courage To Be Rich.

With the absense of any real great financial advice by other financial authors, I feel that Suze Ormans book The Road To Wealth is excellent. It is written in an encyclopedic way. An easy reference guide for anyone.

I found the paperback so beneficial that I bought additional copies for my son and daughter-in-law to enjoy.

The Road To Wealth is a great book, possibly the best financial book on the bookstands right now.

I also recommend Suze's newest book, The Laws of Money. The Lessons of Life. Suze goes beyond just money management and helps people understand the mental side of handling money. While I don't agree with everything she says, Suze is the best female personal finance author out there right now. Certaintly much better than Jane Bryant Quinn.