Sometimes a little too breezy, but Standiford’s glimpse into the greed-is-good Gilded Age will interest business-history...
Life lesson number one for a would-be robber baron: Don’t cross Andrew Carnegie.
Prolific genre novelist Standiford (Havana Run, 2003, etc.) turns to fact to portray the fraught partnership of steelmaker Carnegie and Henry Frick, supplier of industrial coke to the world. Frick was a tough dealer, but Carnegie was tougher; when the coke producers of Pittsburgh agreed to fix a price of $1.50 per ton for the stuff, Carnegie countered that he would pay Frick $1.15 a ton, “and there would be no further discussion of the matter.” Frick became the lesser of equals as the chairman of Carnegie Steel and enjoyed considerable freedom of movement as Carnegie spent more and more of his later life in his native Scotland and left routine administration to Frick and Carnegie Steel president Charles Schwab. Indeed, Frick orchestrated Carnegie Steel’s response to the Homestead Strike of 1892; although Carnegie was doubtless troubled by the hired strikebreakers’ brutality, “the fact is that he had chosen to absent himself from Homestead when he was well aware of what was coming.” For his trouble, Frick was nearly assassinated by the anarchist Alexander Berkman, who shot and stabbed him. When he recovered, Frick busied himself pushing out executives whom he felt insufficiently served his interests, including the superintendent of the Homestead plant. For various reasons, Carnegie and Frick, never fond of each other, began to develop a serious mutual dislike; as Standiford writes, plots thickened as Carnegie looked for ways to force Frick out while Frick, it appears, tried to leverage the company in what Carnegie regarded as “a despicable exercise in speculation.” Frick remained a member of the board when Carnegie sold out to Andrew Mellon, but he seems to have dedicated his later years to one-upping Carnegie’s charitable work (“ ‘I’m going to make Carnegie’s place look like a miner’s shack,’ Frick told friends”) and otherwise spreading poison about the old man.
Sometimes a little too breezy, but Standiford’s glimpse into the greed-is-good Gilded Age will interest business-history buffs.Pub Date: May 10, 2005
ISBN: 1-4000-4767-6
Page Count: 304
Publisher: Crown
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: March 15, 2005
BOOK REVIEW
BOOK REVIEW
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
IN THE NEWS
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.
A helpful guide to working effectively with people from other cultures.
“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.Pub Date: May 27, 2014
ISBN: 978-1-61039-250-1
Page Count: 288
Publisher: PublicAffairs
Review Posted Online: April 15, 2014
Kirkus Reviews Issue: May 1, 2014
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