Sure to be required reading in business school—and for fans of Coulombe’s creation as well.
The founder of the popular grocery store chain delivers a memoir wrapped in a handbook for would-be entrepreneurs.
Coulombe (1930-2020) was a born wheeler-dealer, turning a 1958 partnership with Rexall Drugs in Los Angeles into a small grocery chain called Pronto Markets. The chain flourished for lack of competition, with market leader 7-Eleven effectively held back from the region until California laws changed and barriers to entry fell. Annual sales at Pronto and its successor, Trader Joe’s, “grew at a compound rate of 19 percent per year” from the founding until Coulombe left the company in 1988; he reckons sales and net worth growth to be about that today. Success in a business with historically tight margins came from an ability to pivot nimbly, drop products that didn’t work (including, in Southern California, bullets until the assassination of Robert Kennedy), and procure products wisely from suppliers with as few middlemen as possible. “The fundamental job of a retailer is to buy goods whole, cut them into pieces, and sell the pieces to the ultimate consumers,” he writes, going on to gloss each of those mandates. Unusually for the sector, Coulombe also offered high rates of pay, which kept turnover—a huge hidden cost—low. The author, who takes a gruffly scholarly approach to many business problems, keyed Trader Joe’s to demographic changes that recognized the anti–mass-market sentiments of the counterculture and the rise in international travel that led Americans to appreciate such things as high-quality coffee and wine. Any student of social trends, logistics, and supply chains will learn much from Coulombe’s pages and the stern dicta they contain, as, for example, when he offers this formula: “my preference is to have a few stores, as far apart as possible, and to make them as high-volume as possible.”
Sure to be required reading in business school—and for fans of Coulombe’s creation as well.Pub Date: June 22, 2021
ISBN: 978-1-4002-2543-9
Page Count: 288
Publisher: HarperCollins Leadership
Review Posted Online: May 3, 2021
Kirkus Reviews Issue: May 15, 2021
Cogent, well-timed ideas for meeting today’s biggest challenges.
Helping liberals get out of their own way.
Klein, a New York Times columnist, and Thompson, an Atlantic staffer, lean to the left, but they aren’t interrogating the usual suspects. Aware that many conservatives have no interest in their opinions, the authors target their own side’s “pathologies.” Why do red states greenlight the kind of renewable energy projects that often languish in blue states? Why does liberal California have the nation’s most severe homelessness and housing affordability crises? One big reason: Liberal leadership has ensnared itself in a web of well-intentioned yet often onerous “goals, standards, and rules.” This “procedural kludge,” partially shaped by lawyers who pioneered a “democracy by lawsuit” strategy in the 1960s, threatens to stymie key breakthroughs. Consider the anti-pollution laws passed after World War II. In the decades since, homeowners’ groups in liberal locales have cited such statutes in lawsuits meant to stop new affordable housing. Today, these laws “block the clean energy projects” required to tackle climate change. Nuclear energy is “inarguably safer” than the fossil fuel variety, but because Washington doesn’t always “properly weigh risk,” it almost never builds new reactors. Meanwhile, technologies that may cure disease or slash the carbon footprint of cement production benefit from government support, but too often the grant process “rewards caution and punishes outsider thinking.” The authors call this style of governing “everything-bagel liberalism,” so named because of its many government mandates. Instead, they envision “a politics of abundance” that would remake travel, work, and health. This won’t happen without “changing the processes that make building and inventing so hard.” It’s time, then, to scrutinize everything from municipal zoning regulations to the paperwork requirements for scientists getting federal funding. The authors’ debut as a duo is very smart and eminently useful.
Cogent, well-timed ideas for meeting today’s biggest challenges.Pub Date: March 18, 2025
ISBN: 9781668023488
Page Count: 320
Publisher: Avid Reader Press
Review Posted Online: Jan. 16, 2025
Kirkus Reviews Issue: Feb. 15, 2025
BOOK REVIEW
PERSPECTIVES
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
BOOK REVIEW
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