Showing posts with label financial management. Show all posts
Showing posts with label financial management. Show all posts

Sudden Money: Managing a Financial Windfall Review

Sudden Money: Managing a Financial Windfall
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Sudden Money: Managing a Financial Windfall ReviewThe topic of Sudden Money is not one that has been studied the way that it should be. The best book ever written on the subject was Amy Domini's "The Challanges of Wealth" which was written in 1989. It did what what Sudden Money should. It really talks about what is important in any sudden money situation, the ability to control your emotions, know who to listen to avoid well meaning advice from family and "friends".
I am President of a company who assist injury victims with their finances and have 19 years of study on the Sudden Money topic. I was hoping Sudden Money would be something to give to staff and clients but it is not even close.
There are two easy to read books that everyone from the secretary to the President of our organizations must read before they join us, A Piece of the Action by Joseph Nocera and the Millionaire Next Door by Tom Stanley. Nocera gives a history of personal finance and Stanley gives perspective as to why some people are wealthy and others are not. Read those and don't waste your money on Sudden Money.
The Sudden Money book does a good job of promoting what Bradley is selling, her seminars. There is not nearly enough detail of the emotional side of dealing with a settlement which is a LOT more important than picking the right products or advisor.
When it comes to picking the right products, Bradley shows she does not even know about even some basic techniques. In the whopping eight pages she devotes to insurance settlements ($200 billion a year is paid out in these settlements so it affects more people than discussing lottery winners) she does not even mention structured settlements, the most popular financial tool used on cases of $1,000,000 or more!
It is a tax free spreadthrift concept that only injured people can receive. $5 billion a year goes into structured settlements and after 19 years experience and writing numerous academic articles on insurance settlements, I can say with certainity is the best way for injured people to avoid a lot of problems. Bradley apparently has never heard of the idea. Maybe someone should go to one of her seminars and tell her about what is REALLY going on in the financial planning world.
Bradley is media savvy and a great self promoter. I hope her book is not too successful as the last thiing a person with Sudden Money needs is poor advice.
Don McNay...Sudden Money: Managing a Financial Windfall Overview

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Managing With Power: Politics and Influence in Organizations Review

Managing With Power: Politics and Influence in Organizations
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Managing With Power: Politics and Influence in Organizations ReviewPower is a rare coin: glittering, valuable, and hard to swallow. For many people power is unsavory, disgusting, an abrogation of all that our democratic ideals hold dear. Power corrupts, says the axiom, and our lives, our goals, our organizations prosper in joy and harmony only when it has not tainted the very air we breathe.
Stop kidding yourself. Power - politics, influence, authority wielded decisively - is what makes companies work, what allows organizations to function productively and effectively. And as Jeffrey Pfeffer argues in Managing with Power, power is not an evil miasma to be thwarted, but a tool to be seized and wielded. By recognizing the combination of techniques, strategies, tactics, and dynamics that underlie power, managers can use it successfully to accomplish and achieve.
Pfeffer's take on power therefore sidesteps classic moral quandaries regarding good and evil, means and ends. The world's problems are questions not of morals but of action - or rather, of inaction and passivity. Using Managing with Power, the reader can learn to diagnose the sources of power: how communication and allies create influence, why formal authority matters, and when location matters more. The reader can then study how power may be used effectively and how it may be lost in turn, by following Pfeffer as he analyzes the actions of corporate and political leaders (Lyndon Johnson, Henry Ford II, Roger Smith, et al.). His subjects are measured by their results and their actions; morality is rarely relevant.
Machiavelli would have loved this book, which may put it beyond the pale for many readers. Others attracted by the topic may be dissuaded by the scientific tone and language. Pfeffer is ever the calm observer, the dispassionate social psychologist, and his serenity at times traps the reader in sentences more intricate than articulate: "Needless to say, there were more and more such vacuums to be filled, as his reputation as someone who gets things done, in this case, by analysis, grew." And putting the style itself aside, readers expecting a handbook on how to become rich and powerful will be sorely disappointed. This is a meticulous and methodical analysis; it's not How to Succeed in Business Without Really Trying.
Nonetheless, if you're interested in power, if you want to understand the real basis of management and leadership (and why that distinction is immaterial), read this book. Managing with Power is thoroughly researched, theoretically grounded, and remarkably persuasive. Readers glutted by the soul-numbing pablum of most modern business writing will find here a book to stretch the mind and question the most instinctive beliefs. Does power corrupt? Power gets things done.Managing With Power: Politics and Influence in Organizations Overview

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