Business, Finance & Law Books

Book SynopsisIn today''s world, only the smartest survive. The competitive landscape is littered with graves of well-known firms whose revenues, profits and stock prices rose for decades until they suddenly imploded.In fast-changing business environments, firms must adapt their strategies and innovate to remain at the top. But many successful firms fail to do so. Instead, they succumb to inertia, hesitate, or stick blindly to their old strategies, until it is too late.The ability to adapt to change is a measure of intelligence; so why do firms demonstrate such low Strategic IQ? What causes inertia and why is it so deadly? How can leaders help their firms to act more intelligently?This book identifies the key sources of inertia - strategic, structural and huma - and provides practical advice on how they can be overcome to create smarter corporations. It is both a wake-up call for successful firms and a lifeline for firms struggling to succeed.To sucTrade Review‘I felt inspired…It presents to HR unbelievers what the leaders in the HR field have been professing for some time. This is no bad thing.’(HR, June 2012)Table of ContentsPreface xi Introduction xv Part One Smart Strategy 1 Chapter 1.1 The Need for Smart Strategy 3 Chapter 1.2 Low Strategic Intelligence 13 Chapter 1.3 What is Strategy? 35 Chapter 1.4 Moderate Strategic Intelligence 59 Chapter 1.5 High Strategic Intelligence 87 Part Two Smart Structure 107 Chapter 2.1 The Need for Smart Structure 109 Chapter 2.2 Smart Asset Management 119 Chapter 2.3 Formal Architecture – Navigating the Architecture Labyrinth 143 Chapter 2.4 Informal Architecture – Leveraging Social Mechanics 169 Chapter 2.5 Towards Smarter Structure 191 Part Three Smart Minds 201 Chapter 3.1 The Need for Smart Minds 203 Chapter 3.2 What is a Mind? 209 Chapter 3.3 Hiring Smart Minds 229 Chapter 3.4 Addressing Basic Human Needs 241 Chapter 3.5 Harnessing Insatiable Human Needs 255 Bibliography 277 Index 293

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Book SynopsisKeeping track of the finances is fundamental to the success of every business, but tackling the task yourself can be intimidating. Help is at hand, however, with this complete guide to small business money management.Table of ContentsIntroduction 1 Book I: Getting Started 7 Chapter 1: Preparing for Business 9 Chapter 2: Structuring Your Business 25 Chapter 3: Testing Feasibility 45 Chapter 4: Preparing the Business Plan 67 Chapter 5: Finding the Money 83 Chapter 6: Operating Effectively 113 Chapter 7: Improving Performance 135 Book II: Accounting Basics 155 Chapter 1: Getting Down to Bookkeeping Basics 157 Chapter 2: Outlining Your Financial Roadmap with a Chart of Accounts 177 Chapter 3: Keeping a Paper Trail 193 Chapter 4: Surveying Computer Options 223 Chapter 5: Controlling Your Books, Your Records, and Your Money 233 Chapter 6: Tracking Your Purchases and Counting Your Sales 249 Book III: Reporting Results 277 Chapter 1: Profit Mechanics 279 Chapter 2: Developing a Balance Sheet 309 Chapter 3: Cash Flow and the Cash Flow Statement 321 Book IV: Managing the Finances 343 Chapter 1: Managing Profit Performance 345 Chapter 2: Forecasting and Budgeting 367 Chapter 3: Choosing the Right Ownership Structure 391 Chapter 4: Cost Conundrums 409 Chapter 5: Choosing Accounting Methods 427 Chapter 6: Professional Auditors and Advisers 449 Book V: Employing Staff 465 Chapter 1: Working Out the Wages 467 Chapter 2: Employee Payroll and Benefits 479 Chapter 3: Completing Year-End Payroll and Reports 505 Chapter 4: Adding Up the Bill for Time Off 517 Chapter 5: Figuring Out Final Payments 527 Chapter 6: Making Provision for Life after Work 539 Book VI: Keeping On Top of Tax 555 Chapter 1: Working for Yourself 557 Chapter 2: Considering Your Company’s Status 571 Chapter 3: Taxes, Taxes, and More Taxes 587 Chapter 4: Adding the Cost of VAT 605 Index 621

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Book SynopsisWritten by leading market risk academic, Professor Carol Alexander, Practical Financial Econometrics forms part two of the Market Risk Analysis four volume set.

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Book SynopsisJesse Livermore is considered by many of today's top traders as the greatest trader who ever lived. The continually best-selling book, Reminiscences of a Stock Operator, was based on him and his unique trading strategies. Livermore broke new ground in trading the market unlike any trader prior.Trade Review"...a lively and absorbing account of a trading legend..." (Lloyd's List, 23 November 2001-12-03) "...another rich vein of fascinating wit and wisdom..." (The Independent, 8 December 2001) Business Book of the Week (Money Week, 7 December 2001) "...really enjoyed reading..." (Amply Interactive Investor, 13 December 2001)Table of ContentsPreface. Acknowledgments. The Great Bear of Wall Street. The Back Story. The San Francisco Earthquake Rumbles in New York. The Crash of 1907. The Cotton King. Back on His Game. Perfecting His Market Theory. Stock Pools and Scandals. Boston Billy. The Crash of 1929. When to Hold and When to Fold. Livermore's Money-Management Rules. Livermore's Luck Sours. The Shooting of Jesse Livermore Jr. Facing the Grim Reaper. Livermore's Laws and Trading Secrets Revealed. Sources. Bibliography.

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Book SynopsisFrom the Foreword by John J. Murphy DeMark's work as a consultant has been restricted to large institutions and many of the legendary traders in the world today.Table of ContentsIntroduction 1 1 Trendlines 5 2 Retracements 59 3 Overbought/Oversold 85 4 Wave Analysis 101 5 Accumulation/Distribution 109 6 Moving Averages 129 7 SequentialTM 135 8 Gaps 183 9 Daily Range Projections 193 10 Rate of Change 197 11 Equities 215 12 Options 227 13 ``Waldo'' Patterns 233 Conclusion 241 Index 243

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Book SynopsisKinematic wave modeling methods are gaining wide acceptance as a fast and accurate way of handling a wide range of water modeling problems. This book provides a thorough reference to the application of KW methods to such problems as the spatial representation of watersheds, overland flow routing, and channel flow routing.Table of ContentsWater Resources Modeling. Spatial Representation of Watersheds. HYDRAULIC PRELIMINARIES. Hydraulic Equations for Surface Flow. Linearization of Hydraulic Equations. Flow Resistance. WATER WAVES. Shallow Water Waves. Kinematic Wave Theory. Diffusion Wave Theory. Accuracy of Kinematic Wave and Diffusion Wave Theories. OVERLAND FLOW. St. Venant Equations for Flow Over A Plane. Diffusion Wave Modeling. Kinematic Wave Modeling of Overland Flow on A Plane: AnalyticSolutions. Kinematic Wave Modeling of Overland Flow on an Infiltrating Plane:Analytical Solutions. Kinematic Wave Modeling of Overland Flow on a Plane: NumericalSolutions. Kinematic Wave Modeling of Overland Flow on ConvergingSurfaces. Kinematic Wave Modeling of Overland Flow on DivergingSurfaces. Kinematic Shock. CHANNEL FLOW ROUTING. Dynamic Wave Modeling for Channel Flow Routing. Diffusion Wave Modeling for Channel Flow Routing. Kinematic Wave Flow Routing. Dam-Break Flood-Wave Routing. Appendices. References. Index.

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Book SynopsisA one-of-a-kind book that shows you how to cash in on the latest investing trend--short selling "The Art of Short Selling is the best description of this difficult technique.Table of ContentsFACTS AND PRACTITIONERS. Overview: Wealth with Risk. Short Sellers. CATEGORIES AND EXAMPLES. Bubble Stocks. High-Multiple Growth Stocks, Part 1: High Risk, Low Return. High-Multiple Growth Stocks, Part 2: High Returns, FalteringGrowth. If You Can't Read It, Short It. Money Suckers: Coining Money to Live. If You Can't Fix It, Sell It. Industry Obsolescence: Theme Stocks. All of the Above: Crazy Eddie. HISTORY AND GENERAL LESSONS. Shortcomings. History and Controversy. Six Pillars of Fundamental Short Selling. Appendix. Index.

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Book Synopsis"Public companies are everywhere, and they surround you from morning to night... Nearly everything you eat, wear, read, listen to, ride in, lie on, or gargle with is made by one. Perfume to penknives, hot tubs to hot dogs, nuts to nail polish are made by businesses that you can own. " --from the Introduction.Table of ContentsPreface 9 Introduction The Companies Around Us 13 1 A Short History of Capitalism 21 2 The Basics of Investing 92 3 The Lives of a Company 170 4 The Invisible Hands 201 Appendices Index 265

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Book SynopsisAs featured in the New York Times and Reader''s Digest An eye-opener into the pitfalls awaiting the unaware traveler. -Washington Post Can save the innocent abroad from great gobs of serious trouble. -Chicago Tribune Before you raise your hand to signal the waiter, extend your thumb to hitchhike, or flash the O.K. sign with thumb and forefinger, Stop! Think of where you are and exactly what you are trying to say-otherwise you could create an international incident. Remember when President Bush thought he was flashing the V for Victory sign to cheering Australians? (See inside.) Exploring the ins and outs of body language from head to toe, this newly revised and expanded edition of Roger Axtell''s indispensable guide takes you all around the world of gestures-what they mean, how to use them, and when to avoid them. This latest edition includes: * Updates about the 200 most popular gestures and signals-and dozens of new examples * New sections covering special gestures-from AmeriTable of ContentsThe Power of Gestures. The Most Popular Gestures. Special Types of Gestures. Gestures: Head to Toe. The Ultimate Gesture. The Innocent Abroad's Shortlist. Country-by-Country Listing. Additional Reading. Index.

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Book SynopsisA CLASSIC REVISITED--AND JUST IN TIME The most popular and respected guide to every facet of the stock market has now been thoroughly updated to reflect the dramatic shifts that have taken place over the past several years. This Wall Street classic continues to provide the most current and comprehensive coverage of the market''s participants, principles, and practices. In easy-to-follow, straightforward terms, The Stock Market, 7th Edition shows you how the market works. Beginning with the basics, it takes you from the market''s history and products to its basic structure and operation, to the actual techniques used by shareholders and traders. Based on the authors'' more than 70 years'' combined experience in the field of finance, it shows you how to buy stocks, transact a buy order, and master the often tricky techniques of money management, pyramiding, options, and much more. Every topic is examined from both a broad top-down perspective and with step-by-stepTable of ContentsFUNDAMENTAL INFORMATION. Securities Markets and Securities Owners. Corporate Securities. U.S. Government and Municipal Securities. Reading the Financial Page. WORK OF THE STOCK EXCHANGE. The New York Stock Exchange: Its Function and History. The New York Stock Exchange: Organization and Membership. Listed Stock and Bond, Tickers, and Quotations of the New York Stock Exchange. Trading Procedures. The NASDAQ Stock Market and the National Association of Securities Dealers. The American Stock Exchange and Other U.S.Stock Exchanges. Foreign Markets. WORK OF THE SECURITIES HOUSES. The Customer and the Broker. Margin Trading. Investment Banking. Securities Delivery, Transfer, and Clearing. REGULATIONS. Manipulation in the Old Market. Regulation, Self-Regulation, and Compliance. INVESTING PRACTICES AND SPECIAL INSTRUMENTS. Stock Price Averages and Indexes. Investing and Trading in Common Stocks. Investment Companies. Fundamentals of Stock Prices. Technical Analysis of Stock Prices. Options, Futures, and Other Derivatives. Convertible Securities, Warrants, and Rights. Sources of Information and Security Rating. Glossary. Index.

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Book SynopsisApplying Buffett's principles to technology and international investing From the bestselling author of The Warren Buffett Way and The Warren Buffett Portfolio comes The Essential Buffett: Timeless Principles for the New Economy.Trade Review"A comprehensive primer on applying Buffett's investment strategy to the new economy." (Fortune, April 30, 2001)Table of ContentsThe Unreasonable Man. The World's Greatest Investor. Lessons From the Three Wise Men of Finance. Guidelines for Buying a Business: Twelve Immutable Tenets. Focus Investing: Theory and Mechanics. Managing Your Porfolio: The Challenge of Focus Investing. The Emotional Side of Money. New Opportunities, Timeless Principles. Notes. Acknowledgments. Index.

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Book SynopsisAcclaim for The Education of a Speculator, a provocative and penetrating look into the mind, the soul, and the strategies of one of the most controversial traders of all time "A compelling and an entertaining read. " -The Wall Street Journal "Victor Niederhoffer gives us page after page of distilled investment wisdom.Trade Review"One of the great tours de force of investing literature, a must for any serious investor's library."-Barron's "With an original mind and an eclectic approach, Victor Niederhoffer takes the reader from Brighton Beach to Wall Street, visiting all stops of interest along the way. What emerges is a book full of insights, useful to the professional and layman alike."-George Soros, Principal Investment Advisor, The Quantum Fund ". . . a compelling and an entertaining read."-The Wall Street Journal "The Education of a Speculator is the first meaningful book on speculating. Successful speculating is as fine an art as chess, checkers, fishing, poker, tennis, painting, and music. Niederhoffer brings forth the best from each of these fields and shows the investor how their principles can enrich one's life and net worth."-Martin Edelston, President, Boardroom Inc., publishers of Boardroom Classics & Bottom Line/Personal "The Education of a Speculator offers plenty of insights into the way markets work, but the epiphanies are what a reader might expect from Lao-tzu rather than, say, Graham and Dodd."-Worth Magazine ". . . Victor Niederhoffer gives us page after page of distilled investment wisdom. Taken together, this is pure nectar to those who aim for consistently superior stock-market performance."-Barron'sTable of ContentsBrighton Beach Training. Panics and Hoodoos. Delphic Oracles and Science. Losses, Comebacks, Trends, and the Weather. Winning and Self-Reliance. The Nature of Games. Essential Board Games. Gambling the Vig. Horse Racing and Market Cycles. Deception and Charts. Sex. Returns and Randomness: Academic Style. Connections to Monitor. Music and Counting. The Ecology of Markets. Finale. Notes. Select Bibliography. Index.

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Book SynopsisAdvance praise for Developing Products in Half the Time Second Edition New Rules, New Tools Preston G. Smith * Donald G. Reinertsen This is an exceptional book! Get a new highlighter before you start. There are so many ''ah ha''s'' in each chapter you will never make it through with an old one. Don LaCombe, Ford Motor Company, Product Development Process Leadership An excellent book with a strong treatment of the cycle-time consequences of overloading your development capacity. It provides powerful and practical concepts for dealing with this issue. Andrew Aquart, Director Product Development, Cordis, a Johnson & Johnson Company This is practical, useful stuff for people competing in highly competitive fast moving business. Dr. Paul Borrill, Chief Scientist, Sun Microsystems 3M has absorbed many of the tools from the original edition, and this new one will be even more useful. The topic of incremental innovation is crucial to us, and I really appreciate its balanced treatment. Ronald HTable of ContentsBiographies xiv Forward xv Preface xvii Faster and Still Faster 1 Putting a Price Tag on Time 21 The Fuzzy Front End 49 The Power and Pitfalls of Incremental Innovation 67 Capturing Customer Needs 85 Using System Design to Compress Schedules 105 Forming and Energizing the Team 119 Organizing for Communication 139 Designing Fast Development Processes 163 Controlling the Process 185 Preventing Overloads 205 Managing Risk Proactively 221 Bridging the R&D Manufacturing Gap 241 The Role of Top Management 261 Making Changes Faster 277 Index 291

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Book SynopsisTrader Vic -- Methods of a Wall Street Master Investment strategies from the man Barron's calls "The Ultimate Wall Street Pro" "Victor Sperandeo is gifted with one of the finest minds I know. No wonder he's compiled such an amazing record of success as a money manager. Every investor can benefit from the wisdom he offers in his new book.Table of ContentsForeword iii Preface ix Acknowledgments xiv Part 1 Building Your Knowledge from the Ground Up 1 Introduction: The Secret of the Gamboni 1 1 From Gambler to Market Master: The Making of a Professional Speculator 3 A Quest for Freedom 5 The Wisdom of the Tape 6 Horsetrading Options 8 A Taste of Independence 10 Discovering the Nature of Trends 12 Finding My Freedom 13 2 The Alligator Principle: Proof of the Need to Think in Essentials 15 Being Eaten Alive 15 Thinking in Essentials16 3 A Business Philosophy for Consistent Success 21 Preservation of Capital 21 Consistent Profitability 24 Pursuit of Superior Returns 26 Conclusion 27 4 Finding Order in Market Chaos: An Introduction to Dow Theory 29 Good Ideas Often Misunderstood 30 The “Hypotheses” of Dow Theory 32 The “Theorems” of Dow Theory 35 Conclusion 46 5 A True Understanding of Trends 49 Uptrend, Downtrend, Move All Around Trend 49 Let’s Reduce It to Basics 49 The Importance of Confirmation 52 The Four Phases of a Market 54 Important Volume Relationships 57 Conclusion 57 6 The Merits and Hazards of Technical Analysis 59 Tidewatchers 60 The Manipulators 63 The Purists 66 Summary 67 7 Where Fortunes Are Made: Identifying a Change of Trend 69 Determining the Trend—Drawing the Trendline 71 Identifying a Change of Trend: It's Easy as 1-2-3 74 2B, or Not 2B? That’s Worth Some Money! 78 The Cause of Tests and the 2B Pattern 81 The ABCs of Secondary Corrections 84 Summary 84 8 What the Analysts Don’t Know Can Kill You 87 How Important Can Anchovies Be? 87 Understanding Moving Averages8 8 A Different Perspective on Relative Strength 93 Momentum Indicators (Oscillators) 96 Making Specific Stock Selections 104 Conclusion 108 9 The Way the World Really Works: The Basics of Economics 109 The Jigsaw Puzzle 109 Economics According to Robinson Crusoe 112 The Role of Money 115 Economics and Human Nature 118 Production Before Affluence 121 Savings, Investment, Credit, and Wealth 124 Summary: The Closest Thing There Is to a Free Breakfast 130 10 Booms and Busts: Who Holds the Pump and Who Holds the Needle? 133 Booms and Busts: The Business Cycle 133 The Nature of the Business Cycle 134 The Structure and Role of the Federal Reserve System 144 How Money and Credit Availability Is Created and Controlled 146 Reserve Requirements, Fed Funds Rate, and the Discount Rate 151 How to Predict the Trend and Changes of Trend Based on Fed and Treasury Policy 160 Conclusion 162 11 Managing Money By Measuring Risk 163 The True Meaning of Risk 163 A Revolutionary Approach to Risk Assessment 166 Allocating Capital with Odds Management 170 12 There Must Be Fifty Ways to Lose Your Money 175 The $4017 Hairdryer 175 Trading Rules and the Reasons Behind Them 176 The Rules Defined 177 The 85% Rule 187 Conclusion to Part 1: Putting It All Together 189 Part II The Commitment to Make It Happen: Emotional Discipline 191 The Trader’s Dream: A Fable 191 13 The Spock Syndrome: Reason and Emotions at War197 Introduction 197 From Predator to Trader: The Evolution of Human Emotions 199 Emotions as Benefactor 202 Emotions as the Villain 204 The Source of Consistency: Emotional Discipline 206 Conclusion 208 14 Success is What You Make It 211 The Prerequisites of Success 211 The Meaning of Success 212 The Supercomputer of the Mind 214 Discovering and Using Motivation 216 Conclusion220 15 Changing So It Sticks 221 Using Your Body 222 Using Your Conscious Mind 225 Discovering Awareness 226 Finding Your Focus 228 The Power of Questions 231 The Importance of Evaluation 232 Values and Character 232 Beliefs and Personality 234 Harnessing the Power of the Subconscious 239 Anchoring 242 Conclusion 244 16 Conquering False Pride 245 The Most Important Reason People Fail in Trading 245 Your Evil Twin: The Idealized Self-Image 246 The Search for Glory 247 Compulsion and Imagination 250 When Wishes Become Claims 251 The Tyranny of the Shoulds 252 Real Pride/False Pride 256 17 Finding Your Freedom2 59 Notes 263 Glossary of Terms 271 Bibliography 281 Index 283

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Book Synopsis"To gain 1,000 ideas all at once and gain all the advantages, read this brilliant, illuminating book. " -Mark Victor Hansen, coauthor, Chicken Soup for the Soul. "The Guerrilla Group has done it again. Sit down at the feet of the masters and learn how to negotiate right.Table of ContentsWhy Negotiate? Negotiating Styles. Guerrilla Negotiating Weapons. Guerrilla Negotiating Tactics. Guerrilla Negotiating Power Words. Guerrilla Strategies That Fortify Your Position. How Guerrillas Win on Price. Opening Maneuvers. How to Find Out What They Want. Controlling the Negotiation. Gaining the High Ground. How to Keep the Deal Together. Appendix. Bibliography. Index. About the Authors. About the Guerrilla Group Inc.

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Book SynopsisPraise for Adversity Quotient. "With AQ, Paul Stoltz has done something remarkable: He synthesizes some of the most important information on how we influence our own future and then offers a profound set of observations which teaches us how to thrive in a fast-changing world!"-Joel Barker, President, Infinity, LTD, author of Paradigm Shift.Trade Review"Why do some people prevail where others despair? The difference lies in their 'adversity quotients.' An adversity quotient is a measure of how well someone handles bad news, said Paul Stoltz, who coined the term."-Seattle Post-Intelligencer,August 21, 1998 "Many (employers) in the work force are looking to the newly designated AQ, or adversity quotient...to get the results they want..."-Washington Post No. 7 on the Denver Post Business List, September 27, 1998. "Paul Stoltz has done something remarkable: He synthesizes some of the most important information on how we influence our future and then offers a profound set of observations which teach us how to thrive in a fast-changing world."-Joel Barker, President, Infinity, LTD, Author of Paradigm ShiftTable of ContentsPART ONE THRIVING IN THE AGE OF ADVERSITYCHAPTER 1 A New View of Success 3 The Ascent—Redefining Success 5 The Fundamental Question of Human Effectiveness 5 What Is AQ? 6 The Mountain—Ascending toward Success 13 The Adversity Dilemma 27 The Tree of Success 29 Adversity Quotient 34 CHAPTER 2 The Age of Adversity 37 Three Levels of Adversity 38 How Did It Get So Bad? 44 Four Dangerous Forks in the Trail to the Top 46 A Safer Path 52 CHAPTER 3 The Science of AQ 53 The Three Building Blocks of Your AQ 53 PART TWO MEASURING AND UNDERSTANDING YOUR AQ CHAPTER 4 The Adversity Response Profile™: Measuring Your AQ and Your Ability to Climb 87 Validity and Reliability 88 The Adversity Response Profile (ARP) Quick Take™ 88 CHAPTER 5 Interpreting Your Adversity Quotient and Your Power to Ascend 101 The AQ Continuum 104 Interpreting Your Overall AQ 104 The CO2RE Dimensions of Your AQ 106 Graphing Your CO2RE 125 Life in the Middle: A Moderate CO2RE Profile 137 Personalizing Your Profile 139 Your AQ and Taking Action 140 PART THREE IMPROVING AQ IN YOURSELF, OTHERS, AND YOUR ORGANIZATION CHAPTER 6 LEAD: Improving Your AQ and Your Ability to Ascend 145 Hands-On Proof 147 Where Do These Skills Come From? 149 How and Why LEAD Works 151 Climbing Skills 153 Applying the LEAD Sequence 180 LEADing Yourself through Major Setbacks 183 The Overhang 185 CHAPTER 7 STOP! Catastrophizing 187 Wildfire in the Mind 189 Stoppers! and LEAD 199 CHAPTER 8 Improving Others’ AQs and Their Ability to Ascend 201 LEADing a Friend 202 The Guts of LEADing Others 209 Rethinking the Role of LEADer 213 LEADing a Colleague 214 The Teflon Kid: LEADing Your Child toward Accountability 222 The Hidden Benefits of LEADing Others 227 CHAPTER 9 The High AQ Organization: Creating the Climbing Culture 231 The Right Time for AQ 235 AQ and Change 235 Challenges You Face as a Leader 238 Organizational AQ 240 The Role of AQ in Any Organization’s Success 245 Roadblocks to Creating a High AQ Organization 253 Life after the Seminar: What Goes Wrong? 259 The Climbing Organization 263 AQ at Work 274 CHAPTER 10 The Climber’s Habit 277 Why Most Learning Goes Down the Tubes: Howell’s Five Levels of Competence 278 Two Factors That Influence Your Success 281 What You Can Expect 281 Strengthen the Climber 283 AQ and the Greater Good 283 Appendix 289 Notes 301 Bibliography 307 Acknowledgments 319 Index 323

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Book SynopsisOvercome the obstacles that can prevent you from winning at the trading game A trader's emotional state is vital to being a successful investor. There are many psychological factors that can affect the decisions one makes in the course of a trading day.Table of ContentsIntroduction. GETTING IN THE ZONE. Defining the Zone. Overcoming the Past. Using a Goal. PREPARING FOR THE TRADE. Gathering Information. Understanding the Analysis. Learning More. CONTROLLING THE RISK. Managing the Risk. Tolerating the Pain. TRADING CONSISTENTLY. Learning from Your Mistakes. Overcoming Psychological Obstacles. Stepping Up to the Challenge. USING ADVANCED STRATEGIES. Taking Advantage of Capitulation. Short-Selling. Conclusion. Index.

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Book SynopsisA comprehensive guide to the world of mergers and acquisitions Why do so many M&A transactions fail? And what drives the success of those deals that are consummated? Robert Bruner explains that M&A can be understood as a response by managers to forces of turbulence in their environment. Despite the material failure rates of mergers and acquisitions, those pulling the trigger on key strategic decisions can make them work if they spend great care and rigor in the development of their M&A deals. By addressing the key factors of M&A success and failure, Applied Mergers and Acquisitions can help readers do this. Written by one of the foremost thinkers and educators in the field, this invaluable resource teaches readers the art and science of M&A valuation, deal negotiation, and bargaining, and provides a framework for considering tradeoffs in an effort to optimize the value of any M&A deal.Table of ContentsForeword xv Preface xvii Part One Introduction and Key Themes 1 Chapter 1 Introduction and Executive Summary 3 “How Can My Team Do Better Than the Averages?” A Framework for M&A Success. Seven New Big Ideas Worthy of the Best Practitioners. Chapter 2 Ethics in M&A 13 Why Should One Care? In Whose Interests? What Is Good?— Consequences, Duties, Virtues. Promoting Ethical Behavior. Greenmail Case: Walt Disney, 1984. Chapter 3 Does M&A Pay? 30 The Measurement of M&A Profitability: Better Than What? Findings Based on the Analysis of Returns to Shareholders. Findings Based on the Analysis of Reported Financial Performance. Findings about the Drivers of Profitability. Findings from Surveys of Executives. Findings from Clinical Studies. Part Two Strategy and the Origination of Transaction Proposals 67 Chapter 4 M&A Activity 69 M&A Activity Appears in Waves. Explanations of M&A Activity. “Creative Destruction” as the Driver of M&A Activity. The Many Forms of Economic Turbulence, and Where to Look for It. Turbulence Drives M&A Activities and Opportunities. Chapter 5 Cross-Border M&A 98 Cross-Border M&A Activity. M&A within Regions and Trading Blocs. Drivers of and Returns from Cross-Border M&A. Strategic Analysis of Countries: Getting a “View.” Chapter 6 Strategy and the Uses of M&A to Grow or Restructure the Firm 123 Setting Strategy. Expansion by Inorganic Growth. Restructuring, Redeployment, and Sale. Choosing a Path. Does It Pay to Diversify or Focus the Firm? Chapter 7 Acquisition Search and Deal Origination: Some Guiding Principles 183 Eight Principles of Acquisition Search. Case Study: Kestrel Ventures LLC. Part Three Diligence, Valuation, and Accounting 205 Chapter 8 Due Diligence 207 The Concept of Due Diligence. Principles and Strategies. Timing, Team, and Outputs. The Target’s View: The Data Room and Its Pressures. Focus on Knowledge. Excellence in Due Diligence. Chapter 9 Valuing Firms 247 Rule #1: Think Like an Investor. Rule #2: Intrinsic Value Is Unobservable; We Can Only Estimate It. Rule #3: An Opportunity to Create Value Exists Where Price and Intrinsic Value Differ. Rule #4: So Many Estimators, So Little Time—It Helps to “Have a View.” Rule #5: Exercise Estimators of Intrinsic Value to Find Key Value Drivers and Bets. Rule #6: Think Critically; Triangulate Carefully. Rule #7: Focus on Process, Not Product. Rule #8: When in Doubt, see Rule #1. Valuation Case: Chrysler Corporation, March 1998. Chapter 10 Valuing Options 296 Option Basics. Option Theory. Option Applications. A Practical Guide to Financial Option Valuation, with Some Important Caveats. Chapter 11 Valuing Synergies 325 The Concept of Synergy. Synergy Estimates Must Be a Central Focus of M&A Analysis. A Framework for Synergy Analysis. Estimating Synergy Value, with Examples. Synergies in the Daimler/Chrysler Merger. Rules of Thumb. Chapter 12 Valuing the Firm across Borders 348 How Borders Affect M&A Valuation. Strategy for DCF Approach: Home versus Foreign Valuation. Adjusting Cash Flows. Estimating the Discount Rate. Recapitulation: Valuation Process with Adjusted CAPM. Valuation Cases across Borders. Chapter 13 Valuing the Highly Levered Firm, Assessing the Highly Levered Transaction 393 The World of Highly Levered Firms. The Effect of Leverage on Firm Value. The “Whole Deal” Approach. A Case in Leveraged Recapitalization: Koppers Company. LBO Case: MediMedia International, Ltd. LBO Case #2: Revco Drug Stores. Chapter 14 Real Options and Their Impact on M&A 424 Types of Real Options. Where Real Options Appear in M&A. Why Not Value Everything as an Option? How to Assess the Impact of Real Options. Four Mini-Cases in the Analysis of Real Options. Chapter 15 Valuing Liquidity and Control 455 Adjusting Values for Discounts and Premiums. Where Do Illiquidity Discounts Come From? Where Do Control Premiums Come From? Interaction of Liquidity and Control. Case Study: Volvo/Renault, 1993. Chapter 16 Financial Accounting for Mergers and Acquisitions 478 Overview of Purchase Accounting. How to Interpret Reported Financial Results from a Business Combination. Linkage among Accounting Choices, Form of Payment, Financing, and Price. Dangers of Earnings Management. Chapter 17 Momentum Acquisition Strategies: An Illustration of Why Value Creation Is the Best Financial Criterion 511 Four Cautionary Tales. Momentum Acquisition Strategies. The Arguments for and against Momentum Acquiring. Value Creation Is the Best Criterion for Evaluating Acquisition Strategies. Momentum versus Value Strategies. Part Four Design of Detailed Transaction Terms 529 Chapter 18 An Introduction to Deal Design in M & A 531 Deal Structures Are Solutions to Economic Problems. Possible Desirables in Designing a Deal. Design Leads to Results. Each Deal Is a System: The “Whole Deal” Perspective. Some Implications for the Deal Designer. Chapter 19 Choosing the Form of Acquisitive Reorganization 547 Five Key Concerns for the Deal Designer. Deals That Are Immediately Taxable to the Selling Shareholders. Deals That Defer Tax to the Selling Shareholders. Chapter 20 Choosing the Form of Payment and Financing 564 Patterns and Trends in Form of Payment. Does Form of Payment Matter? Considerations in Selecting the Form of Payment. Assessing the Financing Aspects of a Deal. Chapter 21 Framework for Structuring the Terms of Exchange: Finding the “Win-Win” Deal 589 A Model for Critically Assessing Exchange Ratios. Uses and Illustration of the Model. Extension to Cash-for-Stock Deals. Choosing Exchange Ratio Targets in the “Win-Win” Zone. Chapter 22 Structuring and Valuing Contingent Payments in M&A 609 Contingent Payments in M&A. Earnouts Can Be Useful; But If So, Why Aren’t They Ubiquitous? Earnouts Are Options on Future Performance. Structuring an Earnout. Tax and Accounting Considerations. A Generic Approach to Valuing Earnout Instruments. The Eli Lilly Case. Proposing and Negotiating an Earnout and Other Contingent Payments. Chapter 23 Risk Management in M&A 636 Value at Risk When a Deal Fails. Transaction Risk: Types and Sources. Types of Risk Management. Collars and Their Analysis. Contingent Value Rights Case. Staged Acquiring Case. Where and When to Manage Risk. Chapter 24 Social Issues 668 The Importance of Social Issues in M&A. Survey of Social Issues. Impact of Social Issues on Attractiveness of the Deal. Case Studies in the Role of Social Issues. Part Five Rules of the Road: Governance, Laws, and Regulations 683 Chapter 25 How a Negotiated Deal Takes Place 685 The Deal Shaping Process. Risks: How the Process Can Get Derailed. Transaction Planning and Preparation. Initiating Discussions. First-Round Documents. The Definitive Agreement. Disclosures to Investors and Regulators. Gaining Approval. Case Study: Daimler-Benz and Chrysler. Chapter 26 Governance in M&A: The Board of Directors and Shareholder Voting 703 Governing Well Is Hard to Do. Good Governance Pays. How Shareholders Rule. Fiduciary Duties of Target Directors in Considering M&A. Preparing for the Board’s Review of a Deal. How Can Firms Be Governed Better? Chapter 27 Rules of the Road: Securities Law, Issuance Process, Disclosure, and Insider Trading 725 Overview of Key Securities Laws and Rules. International Law Comparison. Disclosures. Insider Trading. Observance of Deal Process. Chapter 28 Rules of the Road: Antitrust Law 742 Antitrust Law: History and Motives. How Antitrust Regulators and Laws Affect M&A. U.S. Antitrust Merger Guidelines. Premerger Review Process in the United States. Antitrust Regulation of M&A in the European Union. Critical Perspectives on Antitrust Policy. Chapter 29 Documenting the M&A Deal 766 First-Round Documents. Definitive Agreement. Merger Proxy Statement and Prospectus. Part Six Competition, Hostility, and Behavioral Effects in M&A 771 Chapter 30 Negotiating the Deal 773 The Relevance of Negotiation Process. Behavioral Finance. Influencing Bargaining Outcomes: An Overview of the Challenge. How to Prepare for a Negotiation. Managing the Negotiation Process Proactively. Chapter 31 Auctions in M&A 790 Auction Structures and Motives. Advantages and Disadvantages of Auctions. Auctions in Practice: The Case of RJR Nabisco. The “Winner’s Curse” in M&A: Is It Real? Some Practical Advice to Sellers in Auctions. Chapter 32 Hostile Takeovers: Preparing a Bid in Light of Competition and Arbitrage 804 Takeovers Are Games. A Profile of Hostile Takeovers. Beware of the Players, Both on the Field and Off. The Arb Is the Consummate Economic Actor. Interpreting Arbitrage Spreads. The Arb Assesses a Recapitalization Proposal in Terms of Blended Value. Government Constraints on the Game. Selling Shareholders Face a Prisoner’s Dilemma. To Set a Bid Price: Think Like an Investor. The Game Has Implications for Design and Defense of Takeovers. Chapter 33 Takeover Attack and Defense 824 The Prevalence of Antitakeover Defenses. Profile of the Target of a Hostile Bid. Optionality in Takeover Attack and Defense. Tactics of Takeover Attack. Tactics of Takeover Defense. Implications for the Practitioner. Chapter 34 The Leveraged Restructuring as a Takeover Defense: The Case of American Standard 856 The American Standard Case. The Response. Of Parachutes, Pills, and Litigation. Restructuring Defenses. When Does a Restructuring Make Sense? Part Seven Communication, Integration, And Best Practice 877 CHAPTER 35 Communicating the Deal: Gaining Mandates, Approvals, and Support 879 Core Challenges to Effective Communication. Some Guiding Principles for Communicating the Deal. Presenting the “Concept Proposal.” Communicating the Deal to the Board for Approval. Communicating with Employees. Announcing the Deal to the Public. Chapter 36 Framework for Postmerger Integration 891 Integration Strategy. Implementation of Integration Strategy. The Case of Union Bank of Switzerland and Swiss Bank Corporation. Integration as Transformation. Chapter 37 Corporate Development as a Strategic Capability: The Approach of GE Power Systems 914 Business Development at GE Power Systems. Deal Process at GE Power Systems. The M&A “Factory”: Operationalizing Business Development. Implications for Best Practice. Chapter 38 M&A “Best Practices”: Some Lessons and Next Steps 926 Some Elements of M&A Best Practice. Where the Sidewalk Ends. Developing Best Practitioners. The End of It All. About the CD-ROM 939 References and Suggestions for Further Reading 945 Index 1001

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Book SynopsisA truly enlightening work filled with fundamental strategies that have worked for others. Martin Fridson documents the essential principles inherent in every billionaire's success.Trade Review"How to Be a Billionaire offers fascinating insight into the subject of building wealth. As a result of his exhaustive research, Martin Fridson is able to explain the wealth-creation process from a unique perspective. As the reader will discover, there is no single formula for success, but there are certain categories into which these concepts can be placed. My personal advice is to remember the words of Winston Churchill who said, 'Success is the ability to go from one failure to another with no loss of enthusiasm.'" -Ross Perot "Martin Fridson has created the ultimate roadmap to the American Dream. He comes as close to extracting a formula for the acquisition of wealth as any book I have ever read." -Jeff Sagansky CEO, Paxson Communications "Martin Fridson's book has a number of very insightful and thoughtful analyses, something you don't pick up in many business schools." -Philip F. Anschutz Chairman and CEO, The Anschutz Corporation "How to Be a Billionaire is a powerful arsenal of dead-on strategies for increasing your personal wealth and business acumen. Marty Fridson details the tactics of self-made billionaires with great intelligence and insight. I wish this book had been available when I was starting my career." -Spencer Hays Founder, Tom James Company Executive Chairman, Southwestern/Great American, Inc. Chairman, Athlon PublicationsTable of ContentsACCEPTING THE CHALLENGE. Do You Sincerely Want to Be Superrich? How Important Is Choosing an Industry? FUNDAMENTAL STRATEGIES. Take Monumental Risks. Do Business in a New Way. Dominate Your Market. Consolidate an Industry. Buy Low. Thrive on Deals. Outmanage the Competition. Invest in Political Influence. Resist the Unions. PUTTING IT ALL TOGETHER. Your Turn. Notes. Index.

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Book SynopsisJohn Neff, recently retired as money manager of Vanguard's Windsor Fund, reveals how he flies in the face of--or creates--conventional investment wisdom, and expounds upon the techniques, approaches, and investment decisions that have won him recognition as one of the top five institutional investors in the world.Table of ContentsForeword. Preface. Prologue: Citi Saga. MY ROAD TO WINDSOR. Journey East. Grubbing It Out. Basic Training. Banker's Hours. Baptism by Fire. Taking Command at Windsor. ENDURING PRINCIPLES. Elements of Style. The Bargain Basement. Care and Maintenance of a Low P/E Portfolio. A MARKET JOURNAL. The Silly Season. Four Yards and a Cloud of Dust. The Right Stuff. Good Guys Persevere. Déjà Vu. Epilogue: Rivers and Markets. Appendices. Index.

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Book SynopsisUncovers the iconoclastic genius and subtle charm behind Charlie Munger's curmudgeonly facade. This book presents an account of the family, personal, and business life of the idiosyncratically complex figure.Table of Contents1 An Extraordinary Combination of Minds 1 2 The Lake—A Place That Defines Munger 9 3 The Nebraskans 19 4 Surviving the Wars 33 5 Putting Together a New Life 47 6 Munger Makes His First Million 60 7 A Combination of Big Ideas 72 8 Pound-for-Pound, the Best Law Firm 80 9 Operating Wheeler, Munger Out of a Utility Room 92 10 Blue Chip Stamps 110 11 See's Candy Teaches a Lesson 123 12 The Belous Case 135 13 The Buffalo Evening News 141 14 Charlie Munger Goes to War with the Savings and Loan Industry 149 15 The Blossoming of Berkshire Hathaway 164 16 Berkshire in the 1990s—Power Building 176 17 Salomon Brothers 189 18 The Daily Journal Corporation—A Modest Media Empire 203 19 Doing Good at Good Samaritan Hospital 215 20 Elder Statesman and Conscience of the Investment World 227 21 A Time to Reap Rewards 240 Appendix A. Wheeler, Munger Partnership 251 Appendix B. Interview List 252 Appendix C. Time Line—The Life and Career of Charles T. Munger 253 Appendix D. Charles T. Munger's Speeches 257 Notes 277 Index 289

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Book SynopsisThe bestselling author of A Millionaire's Notebook shows how to get what you want-faster than you ever thought possible Based on the bestselling audiobook from Nightingale-Conant, Mentored by a Millionaire lets readers follow in the footsteps of people who have already achieved the kind of success they long for.Table of ContentsPreface. Introduction. Session 1. A New Software Package for Your Brain. Session 2. Discovering Your Personality Type—You'll Like Your Style! Session 3. No Time, No Talent, No Money—No Problem! Session 4. Steven Spielberg's Masterful Strategy for Maximum Achievement in Minimum Time. Session 5. What You Say and How You Say It, Changes Everything! Session 6. Using Your Master Key to Open Any Door. Session 7. With This Technique You'll Super Achieve, Without It You Won't! Session 8. The Power Achievement Process of the Rich and Famous. Session 9. The Secret Strategy of the World's Most Successful People. Session 10. Simple Techniques for Unlimited Creativity and Persistence. Session 11. Removing the Single Greatest Roadblock to Achieving Your Dreams. Session 12. Bring On the Critics..... and Beat Them! Session 13. Taking Control and Keeping It. Session 14. It's Easy to Become Positively Amazing. Session 15. Discovering The High Octane Fuel of the World's Most Successful People. Index.

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Book SynopsisSuccessful methodology for identifying earnings-related reporting indiscretions Creative Cash Flow Reporting and Analysis capitalizes on current concerns with misleading financial reporting on misleading financial reporting.Trade Review"This book is a must-have reference for anyone interested in serious financial statement analysis and uncovering manipulations to earnings from creative reporting of cash flows." (Graziado Business Report.com; Issue 4, Vol 10, 2007)Table of ContentsForeword xi Preface xiii About the Authors xv 1 Seeking Sustainable Cash Flow 1 An Artificial Boost to Operating Cash Flow 3 Classifying Cash Flow 5 Sustainable Cash Flow 9 Creative Cash Flow Reporting 18 Ignoring the Statement of Cash Flows 29 Cash Flow Analysis 30 Plan of This Book 32 Summary 33 2 Structure of the Statement of Cash Flows 37 Historical Background 38 Arrival of the Statement of Cash Flows 49 Non-GAAP Measures of Cash Operating Performance 68 International Differences in the Statement of Cash Flows 73 Summary 74 3 Is it Operating or Investing Cash Flow? 81 Investing Cash Flow 86 GAAP Flexibility: Is it Operating or Investing Cash Flow? 91 Beyond the Boundaries of GAAP 114 Summary 116 4 Is it Operating or Financing Cash Flow? 121 Financing Cash Flow 125 GAAP Flexibility: Is it Operating or Financing Cash Flow? 131 Beyond the Boundaries of GAAP 154 Summary 155 5 Income Taxes and the Statement of Cash Flows 159 Tax Reporting Essentials 160 Classification of Tax-Related Cash Flow 166 Nonrecurring Income Tax Cash Flows 180 Summary 203 6 Nonrecurring Sources and Uses of Operating Cash Flow 209 Characteristics of Nonrecurring Items of Operating Cash Flow 211 Examples of Nonrecurring Cash Sources and Uses 211 Management Identification of Nonrecurring Operating Cash Flow 213 Locating Nonrecurring Items of Operating Cash Flow 218 Cash Flow Tracking 231 Summary 235 7 Measuring Sustainable Operating Cash Flow 241 Sustainable Operating Cash Flow 242 Calibrating Operating Cash Flow Adjustments 244 Measuring Sustainable Operating Cash Flow 252 Completed Sustainable Operating Cash Flow Worksheet 257 Frequency and Size of Adjustment Items 262 Summary 265 8 Using Operating Cash Flow to Detect Earnings Problems 269 Relationship between Earnings and Operating Cash Flow 271 Earnings Supported by Artificial Means 284 Excess Cash Margin 290 Summary 300 9 Analyzing Operating Cash Flow 305 Cash Flow Analysis Statement 308 Using the Cash Flow Analysis Statement 314 Cash Flow Drivers 325 Closer Look at Core Operating Cash Flow 336 Summary 341 10 Understanding Free Cash Flow 345 Uses of Free Cash Flow 348 What is Free Cash Flow? 358 Free Cash Flow to Common Equity: A Closer Look 362 Capital Expenditures 370 Acquisitions and Free Cash Flow 375 Summary 375 Glossary 379 Subject Index 395 Company Index 409

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Book SynopsisIn 1983 Richard Normann published the world''s first book presenting an integrated framework on the management of service producing companies. Now he provides a new approach to strategy: an original way to think about organisations and create a different future. In this demanding but rewarding book he shows that providing organisations are prepared to rethink the way they do business they can occupy the competitive high ground of the future. To do this they must transform concepts and frameworks into action. * Provides new business models. * Shows companies how to reframe their business and take advantage of the opportunities created in the space of unbundling and rebundling.Trade Review“… [an] insightful and illuminating book where complex theoretical issues and questions are integrated...” (International Journal of Service Industry Management, May 2004) "...fine book..full of wisdom and experience, a beautifully written work., the business person who reads this book will not only be better at business but at life as well." (GNB Global Business Network, July 2001) "...[Normann] is provocative, original and bold. This is a book to be stimulated by (Technovation) "…well worth reading…" (Long Range Planning)Table of ContentsForeword by Henry Mintzberg. Ingresso. Acknowledgements. Introduction: We Have to Change in Order to be the Same. THE MAP AND THE LANDSCAPE. Evolution of Strategic Paradigms. Reconfiguring the Value Space. Some Consequences of Dematerialization. SHAPERS OF THE LANDSCAPE. Chained to the Value Chain? Prime Movers as Reconfigurers. Prime Movership as Ecogenesis. TOOLS FOR LANDSCAPING. Co-production: Towards Increased Density. The Offering as a Tool to Organize Co-production. Three Trends in Offering Development. THE MAP-LANDSCAPE INTERACTION. Fitting into the Environment. Change and Creation. REFRAMING: TOOLS FOR MAP MAKING. On Cranes and Sky-hooks. The Process Criteria of the Crane. The Mental Space for Reframing. The Crane at Work in the Design Space. CAPABILITIES FOR PURPOSEFUL EMERGENCE. From Great Ideas to Great Companies. Capabilities for Achieving the Critical Outcomes. LEADERSHIP FOR NAVIGATION. Bringing External and Internal Dynamics in Line. What Leaders Need to Do. Appendix 1: A Note on Territorial Actors. Appendix 2: On the Use of Cases. Notes. References. Index.

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Book SynopsisThis book is about the authora s amazing trip across six continents and the world economy and society. It discusses whoa s sinking and whoa s swimming, which countries are on the rise and which are collapsing, where you can make a million and where you could lose one.Trade Review"Eclectic and didactic, yet strangely compelling." -- Business AgeTable of ContentsPart I: Dunquin to Tokyo. 1. A flight to Russia. 2. New York. 3. Crossing Europe. 4. Linz. 5. Central Europe. 6. On to Istanbul. 7. Old Turkistan. 8. China. 9. Xi'an. 10. Xi'an to Beijing. Part II: Tokyo to Dunquin. 11. First class in the first world. 12. At the edge of the world. 13. Across the wild Tayga. 14. Siberia. 15. Ulan-Ude, Zima, and Kansk. 16. Novosibirsk and west. 17. Moscow. 18. On to Ireland. Part III. 19. Africa: the Sahara Desert. 20. Sub-Saharan Africa. 21. Down a lazy river. 22. Home of the always victorious warrior. 23. Escape. 24. Zambia and the Great Zimbabwe. 25. Botswana. 26. South Africa. Part IV. 27. Overland Down Under. 28. The uttermost edge of the world. 29. Buenos Aires. 30. Chile and Easter Island. 31. On the shining path. 32. On Darwin's trail. 33. The Darien Gap. 34. The canal to the Rio Grande. 35. Home and beyond. Afterword. Appendix I. Appendix II. Index.

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Book SynopsisMore and more employees are having to sit psychometric tests as part of the interviewing process.Table of ContentsIntroduction 1 Section 1 Personality Tests 5 Personality Test One 7 Personality Test Two 10 Personality Test Three 13 How Confident are you? 16 Are You Tactful or Undiplomatic? 23 Laterality 33 Are You Likely to be a Success? 42 Are You a Risk Taker? 49 Are You Broadminded or Prudish? 56 Are You Anxious or Relaxed? 64 How Strong is Your Sense of Justice? 71 Are You a Leader or a Follower? 79 Creativity 86 Are You in the Right Job? 92 Are You a Saint or a Sinner? 99 Do You look on the Bright Side? 106 How Agrressive are You? 114 Are You a Night Person? 122 Are You a Shrinking Violet? 129 Are You Imaginative? 136 Are You Honourable? 143 Are You Sensual? 146 Are You Thrifty? 148 Have You Good Humour? 151 Are You Daring? 154 Domination 156 Are You a Worrier? 159 Are You Absent Minded? 161 Do You Like Work? 164 Are You Sociable? 167 Are You Emotional? 169 Extroversion 171 Aggression 173 Are You Artistic? 175 Ambition 178 Are You Tolerant? 180 Imagination 183 Are You Obsessive? 185 Are You Assertive? 188 Are You Optimistic? 191 Section 2 Aptitude Tests 193 IQ Test One 198 Spatial Ability Test 198 Logic Test 204 Verbal Ability Test 206 Numerical Ability Test 208 Answers to IQ Test One 211 IQ Test Two 215 Verbal Ability Test 215 Numerical Ability Test 217 Maths 219 Diagrams 221 Answers to IQ Test Two 231

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Book SynopsisTrading for a Living Successful trading is based on three Ma s: Mind, Method, and Money.Table of ContentsPartial table of contents: Trading--The Last Frontier. The Odds Against You. INDIVIDUAL PSYCHOLOGY. Fantasy Versus Reality. Self-Destructiveness. Trading Lessons from AA. Winners and Losers. MASS PSYCHOLOGY. What Is the Market?. The Market Crowd and You. Managing Versus Forecasting. CLASSICAL CHART ANALYSIS. Support and Resistance. Trendlines. Chart Patterns. COMPUTERIZED TECHNICAL ANALYSIS. Moving Averages. The Directional System. Williams %R. Relative Strength Index. THE NEGLECTED ESSENTIALS. Volume-Based Indicators. Herrick Payoff Index. STOCK MARKET INDICATORS. New High-New Low Index. PSYCHOLOGICAL INDICATORS. Consensus Indicators. NEW INDICATORS. Elder-Ray. TRADING SYSTEMS. Triple Screen Trading System. Channel Trading Systems. RISK MANAGEMENT. Money Management. Afterword. Sources. Index.

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Book SynopsisThis practical, real-world guide gives investors all the tools they need to make wise decisions when weighing the value and potential of investment properties. Written for old pros as well as novice investors, this friendly, straightforward guide walks readers step by step through every stage of property analysis. Whether you''re buying or selling, investing in big commercial properties or single-family rentals, you''ll find expert guidance and handy resources on every aspect of real estate finance, including: * Proven, effective valuation techniques * Finance tips for all different kinds of property * How various financing strategies affect investments * Structuring financial instruments, including leverage, debt, equity, and partnerships * Measurements and ratios for investment performance, including capitalization rates and gross rent multiplier ratios * Future and present value analysis * How the appraisal process works * Primary apprTable of ContentsPart 1 Real Estate Finance 1 Chapter 1 Introduction to Real Estate Finance 3 Finance as a Discipline 6 The Relevance of Finance as It Applies to Value 9 Chapter 2 Primary Investment Elements and Their Effect on Financing Strategies 13 Time Horizon 13 Volume of Investment Activity 18 Type of Property 21 Chapter 3 Secondary Investment Elements and Their Effect on Financing Strategies 27 Cost of Funds 28 Amortization Period 31 Amount of Funds Borrowed 35 Chapter 4 Additional Investment Elements and Their Effect on Financing Strategies 43 Loan Duration 43 Loan Fees 46 Prepayment Penalties 54 Chapter 5 Structuring Financial Instruments 61 Leverage 61 Debt 64 Equity 67 Partnerships 69 Blended Financing and the Weighted Average Cost of Capital 72 Options 76 Chapter 6 Real Estate Investment Performance Measurements and Ratios 81 Net Income Return on Investment 84 Cash Return on Investment 85 Total Return on Investment 86 Net Operating Income 87 Capitalization Ratio 89 Debt Service Coverage Ratio 92 Operating Efficiency Ratio 93 Gross Rent Multiplier 98 Operating Ratio 99 Break-Even Ratio 100 Chapter 7 Advanced Real Estate Investment Analysis 103 Future Value Analysis 103 Present Value Analysis 108 Net Present Value Analysis 111 Internal Rate of Return 113 Chapter 8 The Valuation of Real Property 121 Appraisal Defined 121 The Nature of Price and Value 122 Three Primary Appraisal Methods 123 Replacement Cost Method 123 Sales Comparison Method 126 Income Capitalization Method 128 Chapter 9 Financial Statements and Schedules 133 Income Statement 136 Balance Statement 143 Statement of Cash Flows 148 Part 2 Case Study Review: Practical Application of Valuation Analysis 153 Chapter 10 Case Study 1: Single-Family Rental House 155 Test 1: Comparable Sales Analysis 157 Test 2: Cash Flow Analysis 162 Chapter 11 Case Study 2: Single-Family to Multifamily Conversion 175 Exploring Alternative Possibilities 175 The Relationship between Risk and Reward 180 Chapter 12 Case Study 3: Multifamily Apartment Complex 189 Chapter 13 Case Study 4: Single-Family Conversion to Commercial Office Building 203 Part 3 Epilogue and Appendixes 229 Chapter 14 Epilogue: Destined for Greatness 231 Prior Works 231 Destined for Greatness 233 Appendix A www.thevalueplay.com 243 Appendix B www.symphony-homes.com 245 Glossary 247 Index 269

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Book SynopsisWhether you're a first-time real estate investor or a seasoned professional, The Complete Guide to Buying and Selling Apartment Buildings helps you map out your future, find apartment buildings at a fair price, finance purchases, and manage your properties.Table of ContentsChapter 1 Introduction to Multifamily Ownership 1 Introduction 1 Holistic Approach 2 Background 4 Market Outlook 6 Regional Trends 9 Chapter 2 Advantages of Multifamily Ownership 13 Time and Efficiency 14 Market Liquidity 15 Transaction Costs 16 Concentration of Units 17 Management and Labor Considerations 17 Tax and Record Keeping Considerations 18 Divestiture of Property 18 Chapter 3 Bridging the Gap 21 Strategies 22 Leverage—The OPM Principle 23 Clearly Defined Objectives 24 Maslow’s Hierarchy of Needs 27 Conquering Your Fears 29 Chapter 4 The Value-Play Strategy 35 Buy and Hold versus Buy and Sell 36 Ten Ways to Create Value 39 Diamonds in the Rough 47 How to Tell a Diamond from a Lump of Coal 61 Chapter 5 Establishing Your Niche and Locating Properties 69 Establishing Your Niche 70 Availability of Resources 70 Property Size 71 Property Age 74 Holding Period 79 Chapter 6 Six Ways to Locate Properties 85 Real Estate Brokers 86 Classified Advertisements 87 Industry-Specific Real Estate Publications 88 Local and National Web Sites 88 Associations and Real Estate Investment Clubs 89 Banks 89 Chapter 7 Financial Analysis 91 Valuation—How Much is That Property Really Worth? 92 Two Crucial Principles That Saved Me $345,000 93 Valuation Methodologies 95 Financial Statements 102 Five Key Ratios You Must Know 117 The One-Minute Assessment 124 How to Read Between the Lines 125 Chapter 8 Case Study Analysis 129 Case Study 1: 52 Units in Flint—My Way or the Highway 129 Case Study 2: 12 Units in Saginaw—Below-Market Rents 142 Case Study 3: 16 Units in Beaumont—A Banker’s REO 151 Case Study 4: 98 Units in Houston—Creating Synergism through Consolidation 162 Chapter 9 Negotiation Strategies and the Due Diligence Process 175 Five Cardinal Rules of Successful Negotiation 176 The Due Diligence Process 185 Chapter 10 Financing Your Acquisition 191 Traditional Financing Alternatives 192 Secondary Financing Alternatives 203 Additional Financing Considerations 206 Chapter 11 Closing the Deal 215 Closing Fundamentals 216 Closing Credits Can Add Up 219 Chapter 12 Managing Your Property 223 Hiring a Professional Property Management Firm 224 Your Role as a Strategic Manager 227 Expect the Unexpected 228 Chapter 13 Four Effective Exit Strategies 233 Outright Sale 234 Refinancing 235 Equity Partnership 245 Exchange of Properties 248 Combining Methods 249 Chapter 14 Five Keys to Your Success 255 Understanding Risk 256 Overcoming Fear of Failure 259 Accepting Responsibility 261 Willingness to Persevere 264 Defining Your Sense of Purpose 267 Appendix A: WWW.THEVALUEPLAY.COM 273 Appendix B: WWW.SYMPHONY-HOMES.COM 275 Glossary 277 Index 297

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Book SynopsisPraise for Gold Trading Boot Camp If speculate you must, read Weldon first. James Grant, Editor, Grant''s Interest Rate Observer This book delivers on all of the essential elements of successful financial literature. Weldon provides a compelling context, walks through the metrics that affect the price action, and assimilates the decision-making process in kind. From soup to nuts, this is one of the most comprehensive tutorials I''ve read on the subject of commodities. Todd Harrison, founder and CEO, Minyanville Publishing and Multimedia, LLC The gold price is rising in today''s turbulent financial times. Preparation and knowledge are essential to profit from higher prices, and this book provides everything you need to take advantage of the trading opportunities thatlie ahead. James Turk, founder, GoldMoney.com This book, with its insights into the current investment climate coincides with what many feel is a new bull markeTable of ContentsForeword. Acknowledgments. PART ONE. EVOLUTION OF A TRADER. Chapter 1. Trial by Fire. Chapter 2. Neophytes and Neanderthals. Chapter 3. The Show. Chapter 4. The Firm. Chapter 5. Character. PART TWO. EVOLUTION OF A MACROMONETARY ERA. Chapter 6. “Top-Down”—It Starts at the Top. Chapter 7. The Golden Bull. Chapter 8. Bretton Woods and the “System”. Chapter 9. Seniorage. Chapter 10. The Goldbug Is Born. Chapter 11. The Emperor with No Clothes. PART THREE. CAPITAL MARKETS: LOOKING INSIDE THE MARKET. Chapter 12. Welcome to My Boot Camp. Chapter 13. Intermarket Analysis—The Tape Tells a Story. Chapter 14. Who’s on First? Know the Players. PART FOUR. LOOKING INSIDE THE MARKET TECHNICALLY. Chapter 15. Reading the tea Leaves—Technical Analysis. Chapter 16. Charts. Chapter 17. Moving Averages. Chapter 18. Oscillators. Chapter 19. Rate-of-Change Indicators. Chapter 20. Fibonacci Retracements. Chapter 21. Historic Volatility and Volatility Bands. Chapter 22. Volume, On-Balanced Volume, and Money Flow. Chapter 23. The Commitments of Traders Report. PART FIVE. LOOKING INSIDE THE MARKET: TOP-DOWN MACRO. Chapter 24. Again, Everything Matters! Chapter 25. U.S. Monetary Fundamentals and the Federal Reserve System. Chapter 26. Energy Market Fundamentals. Chapter 27. Global Trade. Chapter 28. U.S. Fiscal Fundamentals. Chapter 29. Inflation and Labor market Fundamentals. Chapter 30. U.S. Housing and the Consumer. PART SIX. TREND IDENTIFICATION AND MEMENTUM TRADING. Chapter 31. Why…Trend Identification? Chapter 32. Trend Identification techniques—Momentum, Timing. Chapter 33. Countertrend Trading—Divergence, Saturation, and Exhaustion. Chapter 34. The TIMID” Matrix. PART SEVEN. DEFINING AND MANAGING RISK. Chapter 35. Defining Overall risk. Chapter 36. Diversity. Chapter 37. Position Leverage. Chapter 38. Trade Risk. Chapter 39. Correlated Risk. Chapter 40. Sector and Portfolio Risk. Chapter 41. Psychological risk. PART EIGHT. PUTTING IT ALL TOGETHER. Chapter 42. Using What You Know When making Decisions. Chapter 43. Global Supply-and-Demand Fundamentals: The Mining Industry, Gold Consumption, Gold Holdings, and Central Banks. Chapter 44. Chart Library. Appendix. Precious Metals: A Secular-Macro Overview. Index.

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Book SynopsisCHANGE YOUR THINKING CHANGE YOUR LIFE "Every line in this book is bursting with truth, wisdom, and power. Brian Tracy is the preeminent authority on showing you how to dramatically improve your life. Let him be your guide. I've learned so much from Brian myself that I can't thank him enough!" -Robert G.Table of ContentsAcknowledgments. Introduction. Chapter 1. Change Your Thinking. Chapter 2. Change Your Life. Chapter 3. Dream Big Dreams. Chapter 4. Decide to Become Rich. Chapter 5. Take Charge of Your Life. Chapter 6. Commit to Excellence. Chapter 7. Put People First. Chapter 8. Think Like a Genius. Chapter 9. Unleash Your Mental Powers. Chapter 10. Supercharge Your Thinking. Chapter 11. Create Your Own Future. Chapter 12. Live A Great Life. Summary and Conclusions. Bibliography. Index. Advanced Coaching and Mentoring Program. About the Author.

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Book SynopsisThe practical toolbox for readers of Million Dollar Consulting This useful guide provides specific checklists, guidelines, templates, and actual examples for every step of the consulting process. It covers marketing, sales, meetings, implementation, follow-up, invoicing, practice management, insurance, equipment, subcontracting, and scores of other elements. Thousands of people have bought Weiss''s Million Dollar Consulting and started their own consultancy. Now, this handy resource goes hand-in-hand to provide all the tools new consultants need to enact all the recommendations and ideas in Million Dollar Consulting. Alan Weiss, PhD (East Greenwich, RI), has consulted for hundreds of organizations around the world, including Mercedes-Benz, Hewlett-Packard, Merck, Chase, American Press Institute, and the Times-Mirror Group. He is the author of 12 books, including Getting Started in Consulting (0-471-47969-1) and Organizational Consulting (0-471-26378-8).Table of ContentsAcknowledgments xiii Introduction xv Section 1 Office and Practice Management 1 Equipment Checklist and Commentary 1 Client File Checklist and Commentary 4 Insurance Checklist and Commentary 6 Professional Assistance Checklist and Commentary 9 Time and Space Allocation Checklist and Commentary 12 Section 2 Sales and Marketing 17 Web Site Checklist and Commentary 17 E-Mail Checklist and Commentary 20 Press Kit Checklist and Commentary 22 Sample Biographical Sketch 24 Sample Character Reference 26 Proposal Checklist and Commentary 26 Proposal Template 28 Proposal Cancellation Clauses Templates 33 Simple Letter of Agreement Template 34 Cold Call Telephone Script Checklist and Commentary 35 Cold Call Telephone Script 38 Cold Call Letter Checklist and Commentary 39 Cold Call Letter 40 Meeting Preparation Checklist and Commentary 41 Networking Checklist and Commentary 43 Networking Follow-Up Note 44 Advertising and Listings Checklist and Commentary 45 Sample Advertisement 46 Fee Setting Checklist and Commentary 48 Closing the Sale Checklist and Commentary 49 Section 3 Self-Development 53 Reading Materials Checklist and Commentary 53 Associations Evaluation Checklist and Commentary 55 Rebutting Objections Checklist and Commentary 57 Learning from Setbacks Checklist and Commentary 60 Section 4 Travel 63 Clubs Checklist and Commentary 63 Transportation and Lodging Checklist and Commentary 66 Road Warrior Support Checklist and Commentary 69 Section 5 Project Delivery 73 Sponsor Checklist and Commentary 73 Interview Checklist and Commentary 75 Focus Group Checklist and Commentary 77 Template for Focus Group Rules 80 On-Site Observation Checklist and Commentary 81 Coaching Checklist and Commentary 84 Coaching Rules of Engagement Template 86 Section 6 Debriefings Checklist and Commentary 87 Report Checklist and Commentary 89 Client Satisfaction Survey Template 91 Forms 93 Invoices 93 Invoice Template 94 Expense Reimbursement 95 Expense Reimbursement Template 95 Overdue Payments 95 Overdue Payments Template 97 Writing an Article Checklist and Commentary 98 Template for an Article 100 Letter to Magazine Editor Template 100 Subcontracting 101 Subcontracting Contract Template 102 Follow-Up Letters 104 Follow-Up Template for New Prospects 104 Follow-Up Template for Failure to Make Contact 105 Section 7 Financial 107 Taxes Checklist and Commentary 107 Investment Checklist and Commentary 109 Retirement Checklist and Commentary 111 Credit Line Checklist and Commentary 113 Bookkeeping Checklist and Commentary 115 Payroll Checklist and Commentary 116 Section 8 Legal 119 Incorporation Checklist and Commentary 119 Trademark, Service Mark, Registration Checklist and Commentary 122 Copyright Checklist and Commentary 124 Contracts Checklist and Commentary 126 Section 9 Advanced Marketing 129 Publishing Articles and Columns Checklist and Commentary 129 Inquiry Letter Template 132 Template for an Article 133 Book Publishing Checklist and Commentary 134 Template for Book Preparation 136 Template for a Book Proposal 138 Letter to a Literary Agent Template 146 Interview Checklist and Commentary 147 Interview Response Template 150 Radio Interview Request Template 151 Professional Speaking Checklist and Commentary 151 Speech Development Template 154 Speech Evaluation Template 155 Promoting Public Speaking Template 157 Speakers Bureau Inquiry Letter Template 161 Letter to Trade Association Director Template 162 Letter to Visitors or Convention Bureau Template 163 Speaking Contract Template 165 Advance Speaking Requirements Template 166 Speaking Requirements Sheet Template 167 Speech Introduction Template 168 Newsletter Checklist and Commentary 169 Newsletter Format Template 171 Newsletter Subscription Offer Template 172 Forecasting Checklist and Commentary 173 Forecasting Template 175 Qualifying System Template 175 Referrals Checklist and Commentary 177 Referrals Request Template 179 Repeat Business Checklist and Commentary 180 Repeat Business Suggestion Template 181 Passive Income Checklist and Commentary 182 Teleconference Template 185 International Business Checklist and Commentary 186 Alliances Checklist and Commentary 188 Retainers 191 Section 10 Maximizing Success 193 Life Balance Checklist and Commentary 193 Reinvention Checklist and Commentary 196 Selling Your Firm Checklist and Commentary 198 Appendix Example of Trademark Registration 204 Example of Web Site Home Page 206 Bibliography 207 General Business and Consulting 207 Cold Calls 209 Publishing Assistance 210 101 Questions for Any Sales Situation You’ll Ever Face 211 Sample Position Paper or White Paper 222 Index 227 About the Author 237

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Book SynopsisA practical, real-world guide for implementing enterprise risk management (ERM) programs into your organization Enterprise risk management (ERM) is a complex yet critical issue that all companies must deal with in the twenty-first century. Failure to properly manage risk continues to plague corporations around the world.Table of ContentsPreface xiii Acknowledgments xix Part One ERM in Context Chapter 1 Fundamental Concepts and Current State 3 Introduction 3 What Is Risk? 4 What Does Risk Look Like? 8 Enterprise Risk Management (ERM) 11 The Case for ERM 13 Where ERM Is Now 18 Where ERM Is Headed 19 Notes 20 Chapter 2 Key Trends and Developments 21 Introduction 21 Lessons Learned from the Financial Crisis 21 The Wheel of Misfortune Revisited 26 Global Adoption 34 Notes 37 Chapter 3 Performance-Based Continuous ERM 41 Introduction 41 Phase Three: Creating Shareholder Value 43 Performance-Based Continuous ERM 44 Case Study: Legacy Technology 56 Notes 59 Chapter 4 Stakeholder Requirements 61 Introduction 61 Stakeholders Defined 62 Managing Stakeholder Value with ERM 79 Implementing a Stakeholder Management Program 80 Appendix A: Reputational Risk Policy 83 Notes 87 Part Two Implementing an ERM Program Chapter 5 The ERM Project 93 Introduction 93 Barriers to Change 93 Establish the Vision 95 Obtain Buy-In from Internal Stakeholders 97 Assess Current Capabilities against Best Practices 100 Develop a Roadmap 104 Appendix A: ERM Maturity Model 108 Appendix B: Practical Plan for ERM Program Implementation 111 Chapter 6 Risk Culture 115 Introduction 115 Risk Culture Success Factors 117 Best Practice: Risk Escalation 130 Conclusion 130 Notes 131 Chapter 7 The ERM Framework 132 Introduction 132 The Need for an ERM Framework 132 ERM Framework Criteria 136 Current ERM Frameworks 138 An Update: The Continuous ERM Model 145 Developing a Framework 150 Conclusion 153 Notes 153 Part Three Governance Structure and Policies Chapter 8 The Three Lines of Defense 157 Introduction 157 COSO’s Three Lines of Defense 158 Problems with This Structure 160 The Three Lines of Defense Revisited 164 Bringing It All Together: How the Three Lines Work in Concert 172 Conclusion 173 Notes 173 Chapter 9 Role of the Board 175 Introduction 175 Regulatory Requirements 176 Current Board Practices 179 Case Study: Satyam 180 Three Levers for ERM Oversight 181 Conclusion 189 Notes 189 Chapter 10 The View from the Risk Chair 191 Introduction 191 Turnaround Story 191 The GPA Model in Action 192 Top Priorities for the Risk Oversight Committee 192 Conclusion 196 Notes 197 Chapter 11 Rise of the CRO 198 Introduction 198 History and Rise of the CRO 199 A CRO’s Career Path 201 The CRO’s Role 202 Hiring a CRO 206 A CRO’s Progress 208 Chief Risk Officer Profiles 212 Notes 225 Chapter 12 Risk Appetite Statement 227 Introduction 227 Requirements of a Risk Appetite Statement 228 Developing a Risk Appetite Statement 233 Roles and Responsibilities 239 Monitoring and Reporting 242 Examples of Risk Appetite Statements and Metrics 246 Notes 250 Part Four Risk Assessment and Quantification Chapter 13 Risk Control Self-Assessments 255 Introduction 255 Risk Assessment: An Overview 255 RCSA Methodology 256 Phase 1: Setting the Foundation 259 Phase 2: Risk Identification, Assessment, and Prioritization 262 Phase 3: Deep Dives, Risk Quantification, and Management 267 Phase 4: Business and ERM Integration 270 ERM and Internal Audit Collaboration 272 Notes 273 Chapter 14 Risk Quantification Models 274 Introduction 274 Market Risk Models 275 Credit Risk Models 278 Operational Risk Models 281 Model Risk Management 283 The Loss/Event Database 288 Early Warning Indicators 289 Model Risk Case Study: AIG 289 Notes 290 Part Five Risk Management Chapter 15 Strategic Risk Management 295 Introduction 295 The Importance of Strategic Risk 296 Measuring Strategic Risk 299 Managing Strategic Risk 301 Appendix A: Strategic Risk Models 310 Notes 312 Chapter 16 Risk-Based Performance Management 314 Introduction 314 Performance Management and Risk 316 Performance Management and Capital 317 Performance Management and Value Creation 319 Summary 323 Notes 324 Part Six Risk Monitoring and Reporting Chapter 17 Integration of KPIs and KRIs 327 Introduction 327 What Is an Indicator? 327 Using Key Performance Indicators 329 Building Key Risk Indicators 330 KPI and KRI Program Implementation 335 Best Practices 337 Conclusion 338 Notes 339 Chapter 18 ERM Dashboard Reporting 340 Introduction 340 Traditional Risk Reporting vs. ERM Dashboard Reporting 344 General Dashboard Requirements 348 Implementing ERM Dashboards 351 Avoid Common Mistakes 357 Best Practices 358 Notes 361 Chapter 19 Feedback Loops 362 Introduction 362 What Is a Feedback Loop? 363 Examples of Feedback Loops 364 ERM Performance Feedback Loop 366 Measuring Success with the ERM Scorecard 368 Notes 371 Part Seven Other ERM Resources Chapter 20 Additional ERM Templates and Outlines 375 Introduction 375 Strategic Risk Assessment 375 CRO Report to the Risk Committee 376 Cybersecurity Risk Appetite and Metrics 378 Model Risk Policy 380 Risk Escalation Policy 382 Notes 385 About the Author 386 Index 387

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Book SynopsisPraise for THE HALLIBURTON AGENDA "With a blunt matter-of-fact tone, Briody describes the rise of the two companies from the dusty oil fields of west Texas to the marbled corridors of power in Washington, D.C. " --Publishers Weekly "This is a classic American love story of our time.Table of ContentsPrologue. PART I: The Early Years. 1. Erle P. Halliburton and the Million-Dollar Boast. 2. The Road to Riches. PART II: Public Money, Private Profit. 3. The Man Behind the Dam That Built Brown & Root. 4. Guns and Butter. 5. Collateral Damage: The Leland Olds Story. 6. Our Man in Office. PART III: From Vietnam to Iraq. 7. Vietnam and Project Rathole. 8. Empty Pockets. 9. The Big Score. 10. Backseat Cheney. 11. Fall from Grace. Notes. Bibliography. Index.

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Book SynopsisThis pioneering text provides a holistic approach to decision making in transportation project development and programming, which can help transportation professionals to optimize their investment choices.Trade Review"Sinha and Labi compile a vast reservoir of knowledge and technique that transportation decision makers might use to identify and evaluate these diverse impacts as part of the decision making process." (Journal of the American Planning Association, February 2009) ""I am not aware of any other book covering such a huge variety of practically relevant and qualitive models." (Zentralblatt MATH, 2008) "The book does justice to the richness of the broader topic of decision making, covering the specific areas you would expect and more. Overall, the book is an excellent resource…the book is well-written and organized." (Journal of Transportation Engineering; 12/07)Table of ContentsPreface Chapter 1 Introductory Concepts in Transportation Decision Making 1 Introduction 1 1.1 Overall Transportation Program Development 1 1.1.1 Network-Level Planning 1 1.1.2 Project Development 2 1.1.3 Programming 2 1.1.4 Budgeting 2 1.1.5 Financial Planning 2 1.2 The Process of Transportation Project Development 2 1.2.1 PDP Steps 3 1.2.2 Federal Legislation That Affects Transportation Decision Making 5 1.3 Impacts of Transportation System Stimuli 6 1.3.1 Types of Transportation Stimuli 6 1.3.2 Impact Categories and Types 7 1.3.3 Dimensions of the Evaluation 9 1.4 Other Ways of Categorizing Transportation System Impacts 11 1.5 Role of Evaluation in PDP and Basic Elements of Evaluation 12 1.5.1 Role of Evaluation in PDP 12 1.5.2 Reasons for Evaluation 12 1.5.3 Measures of a Project’s Worth 12 1.6 Procedure for Transportation System Evaluation 13 1.6.1 Good Practices in Evaluation 18 Summary 18 Exercises 19 References 19 Chapter 2 Performance Measures in Transportation Evaluation 21 Introduction 21 2.1 Transportation System Goals, Objectives, and Performance Measures 21 2.2 Performance Measures at the Network and Project Levels 22 2.3 Properties of a Good Performance Measure 24 2.4 Dimensions of Performance Measures 25 2.5 Performance Measures Associated with Each Dimension 25 2.5.1 Overall Goals 25 2.5.2 System Objectives 26 2.5.3 Sector Concerns and Interests 29 2.5.4 Flow Entity (Passenger and Freight) 29 2.5.5 Type of Transportation Mode 29 2.5.6 Number of Transportation Modes Involved 30 2.5.7 Entity or Stakeholder Affected 32 2.5.8 Spatial Scope 33 2.5.9 Level of Agency Responsibility 33 2.5.10 Time Frame and Level of Refinement 33 2.6 Linking Agency Goals to Performance Measures: State of Practice 33 2.7 Benefits of Using Performance Measures 33 Summary 34 Exercises 34 References 35 Chapter 3 Estimating Transportation Demand 37 Introduction 37 3.1 Transportation Demand 37 3.1.1 Basic Concepts in Transportation Demand Estimation 37 3.1.2 Causes of Shifts in the Transportation Demand Curve 39 3.1.3 Categorization of Demand Estimation Models 39 3.1.4 Aggregate Methods for Project-Level Transportation Demand Estimation 39 3.2 Transportation Supply 48 3.2.1 Concept of Transportation Supply 48 3.2.2 Causes of Shifts in the Transportation Supply Curve 49 3.3 Equilibration and Dynamics of Transportation Demand and Supply 49 3.3.1 Demand–Supply Equilibration 49 3.3.2 Simultaneous Equation Bias in Demand–Supply Equilibration 49 3.3.3 Dynamics of Transportation Demand and Supply 50 3.4 Elasticities of Travel Demand 50 3.4.1 Classification of Elasticities by the Method of Computation 51 3.4.2 Classification of Elasticities by the Attribute Type 52 3.4.3 Classification of Elasticities by the Relative Direction of Response: Direct and Cross-Elasticities 52 3.4.4 Examples of Elasticity Values Used in Practice 53 3.4.5 Application of the Elasticity Concept: Demand Estimation 56 3.4.6 Consumer Surplus and Latent Demand 57 3.5 Emerging Issues in Transportation Demand Estimation 58 Summary 59 Exercises 59 References 61 Additional Resources 63 Chapter 4 Transportation Costs 65 Introduction 65 4.1 Classification of Transportation Costs 65 4.1.1 Classification by the Incurring Party 65 4.1.2 Classification by the Nature of Cost Variation with Output 65 4.1.3 Classification by the Expression of Unit Cost 66 4.1.4 Classification by Position in the Facility Life Cycle 69 4.1.5 Other Classifications of Transportation Costs 69 4.2 Transportation Agency Costs 69 4.2.1 Agency Costs over the Facility Life Cycle 70 4.2.2 Techniques for Estimating Agency Costs 70 4.2.3 Risk as an Element of Agency Cost 72 4.3 Transportation User Costs 72 4.3.1 User Cost Categories 72 4.3.2 Impacts of Demand Elasticity, Induced Demand, and Other Exogenous Changes on User Costs 73 4.4 General Structure and Behavior of Cost Functions 74 4.4.1 Components of a Transportation Cost Function 74 4.4.2 Economies and Diseconomies of Scale 75 4.5 Historical Cost Values and Models for Highway Transportation Systems 76 4.5.1 Highway Agency Cost Models 76 4.5.2 Transit Cost Values and Models 76 4.5.3 Relationships between Transit Operating Costs, System Size, Labor Requirements, and Technology 89 4.5.4 Air Transportation Costs 89 4.6 Issues in Transportation Cost Estimation 90 4.6.1 Aggregated Estimates for Planning vs. Detailed Engineering Estimates for Projects 90 4.6.2 Adjustments for Temporal and Spatial Variations (How to Update Costs) 90 4.6.3 Adjustments for Economies of Scale 91 4.6.4 Problem of Cost Overruns 92 4.6.5 Relative Weight of Agency and User Cost Unit Values 93 Summary 93 Exercises 94 References 94 Chapter 5 Travel-time Impacts 97 Introduction 97 5.1 Categorization of Travel Time 97 5.1.1 Trip Phase 97 5.1.2 Other Bases for Travel-Time Categorization 98 5.2 Procedure for Assessing Travel-Time Impacts 98 5.3 Issues Relating to Travel-Time Value Estimation 104 5.3.1 Conceptual Basis of Time Valuation 104 5.3.2 Factors Affecting the Travel-Time Value 104 5.3.3 Methods for Valuation of Travel Time 107 5.4 Concluding Remarks 115 Summary 115 Exercises 116 References 117 Additional Resources 118 Appendix A5.1: Estimation of Roadway Capacity Using the HCM Method (TRB, 2000) 118 Appendix A5.2: Estimation of Roadway Operating Speeds Using the HCM Method (TRB, 2000) 120 Appendix A5.3: Travel Times Used in World Bank Projects 123 Chapter 6 Evaluation of Safety Impacts 127 Introduction 127 6.1 Basic Definitions and Factors of Transportation Safety 128 6.1.1 Definition of a Crash 128 6.1.2 Transportation Crashes Classified by Severity 128 6.1.3 Categories of Factors Affecting Transportation Crashes 128 6.2 Procedure for Safety Impact Evaluation 131 6.3 Methods for Estimating Crash Reduction Factors 141 6.3.1 Before-and-After Studies 141 6.3.2 Cross-Sectional Studies 142 6.3.3 Comparison of the Before-and-After and Cross-Sectional Methods 143 6.3.4 Elasticity of Crash Frequency 143 6.4 Safety-Related Legislation 144 6.5 Software Packages for Safety Impact Evaluation of Transportation Investments 144 6.5.1 Interactive Highway Safety Design Model 144 6.5.2 Indiana’s Safety Management System 144 6.6 Considerations in Safety Impact Evaluation 144 Summary 145 Exercises 146 References 147 Additional Resources 148 Appendix A6: Crash Reduction and Accident Modification Factors 149 Chapter 7 Vehicle Operating Cost Impacts 157 Introduction 157 7.1 Components of Vehicle Operating Cost 157 7.1.1 Fuel 157 7.1.2 Shipping Inventory 157 7.1.3 Lubricating Oils for Mechanical Working of the Drivetrain 158 7.1.4 Preservation of the Vehicle–Guideway Contact Surface 158 7.1.5 Vehicle Repair and Maintenance 158 7.1.6 Depreciation 158 7.1.7 VOC Data Sources and Average National VOC Rates 158 7.2 Factors that Affect Vehicle Operating Cost 159 7.2.1 Vehicle Type 159 7.2.2 Fuel Type 160 7.2.3 Longitudinal Grade 161 7.2.4 Vehicle Speed 161 7.2.5 Delay 164 7.2.6 Speed Changes 166 7.2.7 Horizontal Curvature 166 7.2.8 Road Surface Condition 167 7.2.9 Other VOC Factors 169 7.3 Procedure for Assessing VOC Impacts 169 7.3.1 Steps for Assessing the Impacts 169 7.3.2 Implementation of Steps 4 to 6 Using the HERS Method 172 7.4 Special Case of VOC Estimation: Work Zones 176 7.5 Selected Software Packages that Include A VOC Estimation Component 176 7.5.1 AASHTO Method 176 7.5.2 HERS Package: National and State Versions 176 7.5.3 HDM-4 Road User Effects 176 7.5.4 Surface Transportation Efficiency Analysis Model 177 7.5.5 Other Models That Include a VOC Estimation Component 177 7.6 Comparison of VOC Estimation Methods and Software 177 7.6.1 Levels of Detail 177 7.6.2 Data Sources 177 Summary 178 Exercises 178 References 179 Additional Resources 180 Appendix A7.1: FHWA (2002) HERS Models for VOC Computation 180 Appendix A7.2: VOC Component Unit Costs 194 Appendix A7.3: Pavement Condition Adjustment Factors 194 Chapter 8 Economic Efficiency Impacts 197 Introduction 197 8.1 Interest Equations and Equivalencies 197 8.1.1 Cash Flow Illustrations 197 8.1.2 The Concept of Interest 197 8.1.3 Types of Compounding and Interest Rates 198 8.1.4 Interest Equations and Key Variables 199 8.1.5 Special Cases of Interest Equations 202 8.2 Criteria for Economic Efficiency Impact Evaluation 204 8.2.1 Present Worth of Costs 204 8.2.2 Equivalent Uniform Annual Cost 204 8.2.3 Equivalent Uniform Annual Return 204 8.2.4 Net Present Value 205 8.2.5 Internal Rate of Return 205 8.2.6 Benefit–Cost Ratio 205 8.2.7 Evaluation Methods Using Incremental Attributes 206 8.2.8 General Discussion of Economic Efficiency Criteria 207 8.3 Procedure for Economic Efficiency Analysis 207 8.4 Software Packages for Economic Efficiency Analysis 209 8.4.1 Surface Transportation Efficiency Analysis Model 209 8.4.2 MicroBenCost Model 209 8.4.3 Highway Development and Management Standards Model 210 8.4.4 Highway Economic Requirements system 210 8.4.5 California DOT’S Cal-B/C System 210 8.5 Life-Cycle Cost Analysis 210 8.6 Case Study: Economic Efficiency Impact Evaluation 210 8.7 Final Comments on Economic Efficiency Analysis 212 Summary 213 Exercises 213 References 215 Additional Resources 216 Appendix A8 216 Chapter 9 Economic Development Impacts 229 Introduction 229 9.1 Economic Development Impact Types 229 9.1.1 Economic Development Impact Types 229 9.1.2 Economic Development Impact Mechanisms 230 9.1.3 Selection of Appropriate Measures of Economic Impact 230 9.2 Tools for Economic Development Impact Assessment 231 9.2.1 Surveys and Interviews 232 9.2.2 Market Studies 235 9.2.3 Comparative Analysis Tools: Case Studies 235 9.2.4 Economic Multiplier/Input–Output Models 237 9.2.5 Statistical Analysis Tools 239 9.2.6 Economic Simulation Models 240 9.3 Estimation of Long-term Regional Economic Development Impacts 241 9.4 Case Study: Economic Development Impact Assessment 244 Summary 246 Exercises 246 References 247 Additional Resources 249 Chapter 10 Air Quality Impacts 251 Introduction 251 10.1 Air Pollution Sources and Trends 251 10.1.1 Pollutant Types, Sources, and Trends 251 10.1.2 Categories of Air Pollution 254 10.2 Estimating Pollutant Emissions 254 10.2.1 Some Definitions 254 10.2.2 Factors Affecting Pollutant Emissions from Motor Vehicles 254 10.2.3 Approaches for Estimating Pollutant Emissions from Highways 256 10.2.4 Procedure for Estimating Highway Pollutant Emissions 258 10.2.5 Software for Estimating Pollutant Emissions 261 10.3 Estimating Pollutant Concentration 265 10.3.1 Factors Affecting Pollutant Dispersion 265 10.3.2 Pollutant Dispersion Models 266 10.3.3 Software for Estimating Pollutant Dispersion and Concentrations 270 10.4 Air Pollution from Other Modes 271 10.4.1 Air Transportation 271 10.4.2 Rail Transportation 273 10.4.3 Marine Transportation 273 10.4.4 Transit (Various Modes) 273 10.5 Monetary Costs of Air Pollution 274 10.5.1 Methods of Air Pollution Cost Estimation 274 10.5.2 Air Pollution Cost Values 275 10.6 Air Quality Standards 276 10.7 Mitigating Air Pollution from Transportation Sources 276 10.8 Air Quality Legislation and Regulations 277 10.8.1 National Legislation 277 10.8.2 Global Agreements 278 Summary 278 Exercises 278 References 279 Additional Resources 280 Appendix A10.1: Using MOBILE6 to Estimate Emissions 280 Appendix A10.2: Values of the Gaussian Distribution Function 284 Chapter 11 Noise Impacts 287 Introduction 287 11.1 Fundamental Concepts of Sound 287 11.1.1 General Characteristics 287 11.1.2 Addition of Sound Pressure Levels from Multiple Sources 288 11.2 Sources of Transportation Noise 290 11.3 Factors Affecting Transportation Noise Propagation 290 11.3.1 Nature of Source, Distance, and Ground Effects 291 11.3.2 Effect of Noise Barriers 292 11.4 Procedure for Estimating Noise Impacts for Highways 292 11.5 Application of the Procedure using the FHWA Model Equations 293 11.5.1 Reference Energy Mean Emission Level 295 11.5.2 Traffic Flow Adjustment 295 11.5.3 Distance Adjustment 295 11.5.4 Adjustment for Finite-Length Roadways 295 11.5.5 Shielding Adjustment 296 11.5.6 Combining Noises from Various Vehicle Classes 299 11.6 Application of the Procedure Using the Traffic Noise Model (TNM) Software Package 300 11.6.1 The Traffic Noise Model 300 11.7 Estimating Noise Impacts for Other Modes 301 11.7.1 Transit Noise and Vibration 301 11.7.2 Air Transportation 301 11.7.3 Rail Transportation 301 11.7.4 Marine Noise 303 11.7.5 General Guidelines for Noise Impact Evaluation of New Transportation Improvements 303 11.8 Mitigation of Transportation Noise 304 11.8.1 Noise Barrier Cost Estimates 305 11.9 Legislation and Regulations Related to Transportation Noise 306 Summary 308 Exercises 308 References 309 Additional Resources 310 Appendix A11: Noise Attenuation Charts by Barriers Defined by N 0 , φ L ,andφ R 310 Chapter 12 Impacts on Wetlands and other Ecosystems 313 Introduction 313 12.1 Basic Ecological Concepts 313 12.1.1 Concept of Ecosystems 313 12.1.2 Physical Base 314 12.1.3 Wetland Ecosystems 314 12.2 Mechanisms of Ecological Impacts 315 12.2.1 Direct vs. Indirect Mechanisms 315 12.2.2 Impact Mechanism by Species Type 315 12.3 Ecological Impacts of Activities at Various PDP Phases 315 12.3.1 Locational Planning and Preliminary Field Surveys 316 12.3.2 Transportation System Design 319 12.3.3 Construction 319 12.3.4 Operations 319 12.3.5 Maintenance 320 12.4 Performance Goals for Ecological Impact Assessments 320 12.4.1 Diversity of the Physical Base of the Ecosystem 320 12.4.2 State of Habitat Fragmentation 320 12.4.3 Significant Species and Habitats 321 12.4.4 Diversity of Species 321 12.4.5 Ecosystem Stability 321 12.4.6 Ecosystem Quality or Productivity 322 12.5 Procedure for Ecological Impact Assessment 322 12.6 Key Legislation 329 12.6.1 Endangered Species Act of 1973 329 12.6.2 Laws Related to Wetlands and Other Habitats 329 12.7 Mitigation of Ecological Impacts 329 12.7.1 Mitigation at Various Phases of the Project Development Process 331 12.8 Methods and Software Packages for Ecological Impact Assessment 332 12.8.1 Wetland Functional Analysis 332 12.8.2 Hydrogeomorphic Classification Method 333 12.8.3 Habitat Evaluation Procedures Software 334 Summary 334 Exercises 334 References 335 Additional Resources 336 Chapter 13 Impacts on Water Resources 337 Introduction 337 13.1 Categories of Hydrological Impacts 337 13.1.1 Source of Impacts 337 13.1.2 Impact Types 338 13.1.3 Water Source Affected 338 13.1.4 Transportation Mode and Activity 338 13.2 Hydrological Impacts by Transportation Mode 338 13.2.1 Highway Impacts 338 13.2.2 Railway Impacts 339 13.2.3 Air Transportation Impacts 339 13.2.4 Marine Transportation Impacts 341 13.3 Performance Measures for Hydrological Impact Assessment 341 13.3.1 Measures Related to Water Quantity and Flow Patterns 342 13.3.2 Measures Related to Water Quality 342 13.4 Procedure for Water Quality Impact Assessment 343 13.5 Methods for Predicting Impacts on Water Resources 345 13.5.1 Impacts on Water Quantity 345 13.5.2 Impacts on Water Quality 348 13.6 Mitigation of Water Resource Impacts 353 13.6.1 Mitigation Measures by Impact Criterion 353 13.6.2 Mitigation Measures by Nature of Water Source 353 13.6.3 Mitigation Measures by PDP Phase 354 13.6.4 Discussion of Mitigation 354 13.7 Water Quality Standards 354 13.8 Legislation Related to Water Resource Conservation 354 13.9 Software for Water Resources Impact Assessment 355 Summary 355 Exercises 356 References 357 Additional Resources 358 Chapter 14 Visual Impacts 359 Introduction 359 14.1 Principles of Visual Performance 359 14.1.1 General Principles 359 14.1.2 Performance Measures for Visual Performance Assessment 360 14.2 Factors Affecting Visual Performance and Impact Mechanisms 361 14.2.1 Factors 361 14.2.2 Impact Mechanisms 363 14.3 Procedure for Visual Impact Assessment 363 14.4 Legislation Related to Visual Impact 371 14.5 Mitigation of Poor Visual Performance of Existing Facilities 371 14.6 Visual Performance Enhancement: State of Practice 372 14.6.1 Context-Sensitive Design Practices 373 14.6.2 Policies and Guidelines for Visual Performance Preservation and Enhancement 373 14.6.3 Cost of Visual Performance Enhancements 375 Summary 375 Exercises 376 References 376 Additional Resources 377 Chapter 15 Impacts on Energy Use 379 Introduction 379 15.1 Factors that Affect Transportation Energy Consumption 381 15.1.1 Fuel Prices and Taxes 381 15.1.2 Fuel Economy Regulation 381 15.1.3 Vehicle Sales by Class 381 15.1.4 Vehicle Technology 381 15.1.5 Road Geometry 381 15.1.6 Transportation Intervention 382 15.1.7 Other Factors 383 15.2 Energy Intensity 383 15.3 Framework for Energy Impact Analysis 383 15.3.1 Direct Consumption 384 15.3.2 Indirect Consumption 384 15.4 Procedures for Estimating Energy Consumption 386 15.4.1 Macroscopic Assessment: Approach A 386 15.4.2 Project Screening Level Model: Approach B 388 15.4.3 Microscopic Simulation: Approach c 393 15.5 The National Energy Modeling System 397 15.6 Approaches to Energy Consumption Estimation–a Comparison 399 15.7 Energy and Transportation: What the Future Holds 399 Summary 400 Exercises 400 References 401 Additional Resources 401 Chapter 16 Land-use Impacts 403 Introduction 403 16.1 The Transportation–Land-Use Relationship 404 16.1.1 Land-Use Impacts on Transportation 404 16.1.2 Transportation Impacts on Land Use 406 16.1.3 Land-Use Impacts in terms of Monetary Costs 406 16.2 Tools for Analyzing Land-Use Changes 407 16.2.1 Qualitative Tools 408 16.2.2 Quantitative Tools 409 16.3 Procedure for Land-Use Impact Assessment 413 16.4 Case Studies: Land-Use Impact Assessment 419 16.4.1 Evansville-Indianapolis I-69 Highway Project 419 16.4.2 Light-Rail Transit Project 420 Summary 422 Exercises 422 References 423 Chapter 17 Social and Cultural Impacts 427 Introduction 427 17.1 Mechanisms of Transportation Impacts on the Social and Cultural Environments 428 17.1.1 Direct Impacts 428 17.1.2 Indirect Impacts 428 17.1.3 Cumulative Impacts 429 17.2 Target Facilities and Groups, and Performance Measures 429 17.2.1 Target Facilities and Groups 429 17.2.2 Performance Measures 429 17.2.3 The Issue of Poverty Alleviation in Developing Countries 431 17.3 Equity and Environmental Justice Concerns 431 17.3.1 An Example of the Distribution of Project Costs and Benefits 434 17.4 Procedure for Social and Cultural Impact Assessment 435 17.5 Tools for Sociocultural Impact Assessment 439 17.5.1 Qualitative Tools 439 17.5.2 Quantitative Tools 441 17.6 Mitigation of Adverse Sociocultural Impacts 442 17.6.1 Sociocultural Impact Mitigation: State of Practice 442 17.7 Legislation Related to Sociocultural Impacts 443 Summary 444 Exercises 445 References 446 Additional Resources 447 Chapter 18 Evaluation of Transportation Projects and Programs Using Multiple Criteria 449 Introduction 449 18.1 Establishing Weights of Performance Criteria 449 18.1.1 Equal Weighting 449 18.1.2 Direct Weighting 450 18.1.3 Regression-Based Observer-Derived Weighting 450 18.1.4 Delphi Technique 451 18.1.5 Gamble Method 452 18.1.6 Pairwise Comparison of the Performance Criteria 453 18.1.7 Value Swinging Method 455 18.2 Scaling of Performance Criteria 456 18.2.1 Scaling Where Decision Making Is under Certainty 456 18.2.2 Scaling Where Decision Making Is under Risk 458 18.3 Combination of Performance Criteria 462 18.3.1 Combined Mathematical Functions of Value, Utility, or Cost-Effectiveness 462 18.3.2 Ranking and Rating Method 464 18.3.3 Maxmin Approach 465 18.3.4 Impact Index Method 466 18.3.5 Pairwise Comparison of Transportation Alternatives Using Ahp 467 18.3.6 Mathematical Programming 469 18.3.7 Pairwise Comparison of Alternatives Using the Outranking Method 472 18.4 Case Study: Evaluating Alternative Projects for a Transportation Corridor Using Multiple Criteria 473 18.5 General Considerations of Risk and Uncertainty in Evaluation 475 18.5.1 The Case of Certainty: Using Sensitivity Analysis 475 18.5.2 The Case of Objective Risk: Using Probability Distributions and Simulation 476 18.5.3 The Case of Uncertainty 477 Summary 479 Exercises 479 References 481 Additional Resources 481 Chapter 19 Use of Geographical and other Information Systems 483 Introduction 483 19.1 Hardware for Information Management 483 19.2 Software and Other Tools for Information Management 483 19.2.1 Non-GIS Relational Database Management Systems 483 19.2.2 Geographical Information Systems 484 19.2.3 Internet GIS 486 19.2.4 Video Log Information Management Systems 487 19.3 GIS Applications in Transportation Systems Evaluation 487 19.3.1 Query, Display, and Visualization of Initial Data 488 19.3.2 Buffer Analysis 488 19.3.3 Overlay Analysis 489 19.3.4 Analysis of Transportation Operations 489 19.3.5 Public Input in Transportation System Evaluation 489 19.3.6 Multicriteria Decision Making 490 19.4 Existing Databases and Information Systems 490 19.4.1 Information Systems and Data Items Available by Transportation Mode 490 19.4.2 General Databases Useful for Transportation Systems Evaluation 494 19.5 GIS-Based Software Packages for Information Management 495 Summary 495 Exercises 496 References 496 Chapter 20 Transportation Programming 497 Introduction 497 20.1 Roles of Programming 497 20.1.1 Optimal Investment Decisions 498 20.1.2 Trade-off Considerations 498 20.1.3 Linkage to Budgeting 498 20.1.4 Efficiency in Program and Project Delivery 498 20.1.5 Monitoring and Feedback 498 20.2 Procedure for Programming Transportation Projects 499 20.3 Programming Tools 504 20.3.1 Priority Setting 504 20.3.2 Heuristic Optimization 506 20.3.3 Mathematical Programming 506 20.4 Case Studies: Transportation Programming 512 20.4.1 Programming Process at a State Transportation Agency 513 20.4.2 Programming Process at a Metropolitan Area Level 515 20.5 Keys to Successful Programming and Implementation 518 20.5.1 Link between Planning and Programming 518 20.5.2 Uncertainties Affecting Transportation Programming 519 20.5.3 Intergovernmental Relationships 519 20.5.4 Equity Issues in Programming 519 Summary 520 Exercises 520 References 522 Additional Resources 523 General Appendix 1: Cost Indices 525 General Appendix 2: Performance Measures 527 Index 537

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Book SynopsisAswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do. -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today?s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You''ll gain an understanding of the vitality of today?s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.Table of ContentsPreface. Chapter 1: Introduction to Valuation. Introduction to Chapters 2-6: Discounted Cashflow Valuation. Chapter 2: Estimating Discount Rates. Chapter 3: Measuring Cash Flows. Chapter 4: Forecasting Cash Flows. Chapter 5: Equity Discounted Cash Flow Models. Chapter 6: Firm Valuation Models. Introduction to Chapters 7-9: Relative Valuation. Chapter 7: Relative Valuation: First Principles. Chapter 8: Equity Multiples. Chapter 9: Value Multiples. Introduction to Chapters 10-17: Loose Ends in Valuation. Chapter 10: Cash, Cross Holdings and Other Assets. Chapter 11: Employee Equity Options and Compensation. Chapter 12: The Value of Intangibles. Chapter 13: The Value of Control. Chapter 14: The Value of Liquidity. Chapter 15: The Value of Synergy. Chapter 16: The Value of Transparency. Chapter 17: The Cost of Distress. Chapter 18: Closing Thoughts. Index.

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Book SynopsisIf youa ve picked up this book, you probably recognize the value of fundamental analysis, but arena t sure you can master it. With Getting Started in Fundamental Analysis as your guide, youa ll quickly become familiar with the key concepts and learn how to put them into action in the real world.Table of ContentsIntroduction: How Fundamental are the Fundamentals? Chapter 1. Financial Statements and What They Reveal. Chapter 2. Basic Stock Market Theories. Chapter 3. The Audited Statement – Flawed but Useful. Chapter 4. Finding Financial Information Online: Step-by-Step Explanations. Chapter 5. How Accurate Are the Numbers? Chapter 6. Confirmation: The Trend of the Trends. Chapter 7. Balance Sheet Ratios: Making the Analysis. Chapter 8. Income Statement Ratios: Tracking the Profits. Chapter 9. The Popular P/E Ratio and How to Use It. Chapter 10. Using Fundamental—and Technical—Analysis Together. Chapter 11. Indicators That Go Beyond the Statements. Glossary. Notes. Index.

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Book SynopsisA real estate guide unlike any other, The Insider''s Guide to 52 Homes in 52 Weeks is the true story of a seemingly impossible investing challenge and the two investors who pulled it off--all to prove that you can do it too. Successful real estate investors Dolf de Roos and Gene Burns wanted to show skeptical investors that there are always great deals to be found. So they set out to buy fifty-two homes in just one year. Not only did they succeed, they did it in less than ten months and earned a lot of money in the process! Tracing this ten-month real estate adventure in depth and detail, The Insider''s Guide to 52 Homes in 52 Weeks explains the authors'' strategies and techniques for acquiring almost any property in any market. Inside, you''ll find step-by-step guidance on: Finding the perfect market to invest in Designing your strategy and getting started Making your first deal Finding the help you need to succeed Changing stTrade ReviewTo prove there are good real estate investments out there in any market, the authors challenged themselves to buy one home every week for an entire year. They used a variety of acquisition and financing techniques and present a mix of strategies all good investors should be ready to use. (Realtor Magazine, July 2006)Table of ContentsIntroduction. Chapter 1. The Real Estate Challenge. Chapter 2. What We Did in Vegas, and What You Can Do Anywhere. Chapter 3. Determining Your Strategy and Gertting Started. Chapter 4. Our First Deals. Chapter 5. Learning to Ask for Help. Chapter 6. Shift in Strategies. Chapter 7. Networking. Chapter 8. Being Flexible. Chapter 9. Why Las Vegas will Continue to Grow. Chapter 10. You Can Do it Too. Appendix A: Authorization to Release Information. Appendix B: Grant, Bargain, and Sale Deed. Appendix C: Limited Power of Attorney. Appendix D: Binding Legal Agreement. 52 Homes—Some Photos. Further Tips, Tools, and Information. About the Authors. Other Books by Dolf de Roos. Index.

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Book SynopsisFor the past 43 years, The Boston Consulting Group (BCG) has been shaping the way business is done all over the world. This book, a compilation of 75 of BCG's most influential articles and pieces on strategy, is an indispensable source of fresh ideas, insights, and practical lessons for managers, executives, and entrepreneurs in every industry.Trade Review"Essential reading for anyone with a serious interest in strategy." (Long Range Planning, 40/2007)Table of ContentsForeword xiii Preface xv Acknowledgments xvii Part One The Nature of Business Strategy Strategic and Natural Competition, Bruce D. Henderson, 1980 2 Part Two The Development of Business Strategy Foundations 9 The Experience Curve Reviewed: History, Bruce D. Henderson, 1973 12 The Experience Curve Reviewed: Why Does It Work? Bruce D. Henderson, 1974 15 The Experience Curve Reviewed: Price Stability, Bruce D. Henderson, 1974 18 The Pricing Paradox, Bruce D. Henderson, 1970 24 The Market-Share Paradox, Bruce D. Henderson, 1970 27 More Debt or None? Bruce D. Henderson, 1972 29 The Rule of Three and Four, Bruce D. Henderson, 1976 31 The Product Portfolio, Bruce D. Henderson, 1970 35 The Real Objectives, Bruce D. Henderson, 1976 38 Milestones 40 Life Cycle of the Industry Leader, Bruce D. Henderson, 1972 43 The Evils of Average Costing, Richard K. Lochridge, 1975 46 Specialization or the Full Product Line, Michael C. Goold, 1979 48 Stalemate: The Problem, John S. Clarkeson, 1984 51 Business Environments, Richard K. Lochridge, 1981 56 Revolution on the Factory Floor, Thomas M. Hout and George Stalk Jr., 1982 59 Time—The Next Source of Competitive Advantage, George Stalk Jr., 1988 63 Competing on Capabilities: The New Rules of Corporate Strategy, George Stalk Jr., Philip B. Evans, and Lawrence E. Shulman, 1992 82 Strategy and the New Economics of Information, Philip B. Evans and Thomas S. Wurster, 1997 99 Collaboration Rules, Philip Evans and Bob Wolf, 2005 120 Part Three The Practice of Business Strategy The Customer: Segmentation and Value Creation 137 Segmentation and Strategy, Seymour Tilles, 1974 139 Strategic Sectors, Bruce D. Henderson, 1975 141 Specialization, Richard K. Lochridge, 1981 143 Specialization: Cost Reduction or Price Realization, Anthony J. Habgood, 1981 145 Segment-of-One® Marketing, Richard Winger and David Edelman, 1989 147 Discovering Your Customer, Michael J. Silverstein and Philip Siegel, 1991 151 Total Brand Management, David C. Edelman and Michael J. Silverstein, 1993 154 Pricing Myopia, Philippe Morel, George Stalk Jr., Peter Stanger, and Peter Wetenhall, 2003 157 Trading Up, Michael J. Silverstein and Neil Fiske, 2003 and 2005 162 Trading Down: Living Large on $150 a Day, Lucy Brady and Michael J. Silverstein, 2005 168 Innovation and Growth 173 From the Insight Out, Michael J. Silverstein, 1995 174 Capitalizing on Anomalies, Lawrence E. Shulman, 1997 176 Breaking Compromises, George Stalk Jr., David K. Pecaut, and Benjamin Burnett, 1997 179 A New Product Every Week? Lessons from Magazine Publishing, Gary Reiner and Shikhar Ghosh, 1988 183 Innovating for Cash, James P. Andrew and Harold L. Sirkin, 2003 186 Acquiring Your Future, Mark Blaxill and Kevin Rivette, 2004 189 Deconstruction of Value Chains 194 The New Vertical Integration, John R. Frantz and Thomas M. Hout, 1993 195 The Deconstruction of Value Chains, Carl W. Stern, 1998 198 How Deconstruction Drives De-Averaging, Philip B. Evans, 1998 201 Thinking Strategically about E-Commerce, Philip B. Evans and Thomas S. Wurster, 1999 205 From “Clicks and Mortar” to “Clicks and Bricks,” Philip B. Evans and Thomas S. Wurster, 2000 208 Thermidor: The Internet Revolution and After, Philip B. Evans, 2001 210 The Online Employee, Michael S. Deimler and Morten T. Hansen, 2001 214 Richer Sourcing, Philip B. Evans and Bob Wolf, 2004 218 The Real Contest between America and China, Thomas Hout and Jean Lebreton, 2003 223 Performance Measurement 227 Profit Center Ethics, Bruce D. Henderson, 1971 229 The Story of Joe (A Fable), Bruce D. Henderson, 1977 232 Controlling for Growth in a Multidivision Business, Patrick Conley, 1968 234 Making Performance Measurements Perform, Robert Malchione, 1991 237 Economic Value Added, Eric E. Olsen, 1996 240 New Directions in Value Management, Eric E. Olsen, 2002 244 Workonomics, Felix Barber, Jeff Kotzen, Eric Olsen, and Rainer Strack, 2002 248 Resource Allocation 254 Cash Traps, Bruce D. Henderson, 1972 255 The Star of the Portfolio, Bruce D. Henderson, 1976 258 Anatomy of the Cash Cow, Bruce D. Henderson, 1976 259 The Corporate Portfolio, Bruce D. Henderson, 1977 262 Renaissance of the Portfolio, Anthony W. Miles, 1986 265 Premium Conglomerates, Dieter Heuskel, 1996 268 The End of the Public Company—As We Know It, Larry Shulman, 2000 271 Advantage, Returns, and Growth—In That Order, Gerry Hansell, 2005 275 Organizational Design 281 Profit Centers and Decentralized Management, Bruce D. Henderson, 1968 282 Unleash Intuition, Richard K. Lochridge, 1984 285 Network Organizations, Todd L. Hixon, 1989 289 The Myth of the Horizontal Organization, Philippe J. Amouyal and Jill E. Black, 1994 292 The Activist Center, Dennis N. Rheault and Simon P. Trussler, 1995 295 Shaping Up: The Delayered Look, Ron Nicol, 2004 298 A Survivor’s Guide to Organization Redesign, Felix Barber, D. Grant Freeland, and David Brownell, 2002 302 Leadership and Change 309 Why Change Is So Difficult, Bruce D. Henderson, 1967 310 Leadership, Bruce D. Henderson, 1966 312 How to Recognize the Need for Change, Carl W. Stern, 1983 315 Sustained Success, Alan J. Zakon and Richard K. Lochridge, 1984 318 Strategy and Learning, Seymour Tilles, 1985 323 Let Middle Managers Manage, Jeanie Daniel Duck, 1991 327 Jazz versus Symphony, John S. Clarkeson, 1990 330 The Change Curve, Jeanie Daniel Duck, 2001 333 Leadership in a Time of Uncertainty, Bolko von Oetinger, 2002 342 Leading in Emotional Times, Jeanie Daniel Duck, 2002 345 The Forgotten Half of Change, Luc de Brabandere, 2005 347 Part Four Business Thinking Business Thinking, Bruce D. Henderson, 1977 354 Brinkmanship in Business, Bruce D. Henderson, 1967 357 Business Chess, Rudyard L. Istvan, 1984 361 Probing, Jonathan L. Isaacs, 1985 366 Creative Analysis, Anthony W. Miles, 1987 369 Make Decisions Like a Fighter Pilot, Mark F. Blaxill and Thomas M. Hout, 1987 370 The Seduction of Reductionist Thinking, Jeanie Daniel Duck, 1992 373 Choices, Again, Barry Jones and Larry Shulman, 2003 376 The Hardball Manifesto, George Stalk Jr. and Rob Lachenauer, 2004 377 Part Five Social Commentary Failure to Compete, Bruce D. Henderson, 1973 383 Inflation and Investment Return, Bruce D. Henderson, 1974 384 Conflicting Tax Objectives, Bruce D. Henderson, 1975 385 Dumping, Bruce D. Henderson, 1978 387 Adversaries or Partners? Bruce D. Henderson, 1983 389 The Promise of Disease Management, Joshua Gray and Peter Lawyer, 1995 393 Making Sure Independent Doesn’t Mean Ignorant, Colin Carter and Jay W. Lorsch, 2002 400 Index 405

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Book SynopsisThe way you live in a home and the way you sell it are two different things. That's the premise of staging, a hot new trend that's sweeping the country. In any real estate market, staged homes sell faster or sell for more money--or both! In Home Staging, readers learn how to play up a home's strong points and improve its presentation.Trade ReviewStaging a home doesn't require deep pockets, but it does require an open mind. Take inventory of materials you already own and consider how you could use them to make your listing more attractive. For example, take a plastic table from your backyard and cover it with a tablecloth to dress up an empty kitchen. Read the latest book review for more tips.-- realtor.comTable of ContentsAcknowledgments ix Introduction 1 CHAPTER 1 So You’re Selling Your House . . . 11 CHAPTER 2 Ready, Stage, Sell: Home Staging Guidelines That Work 15 CHAPTER 3 Staging Magic: How to Stage Each Room in Your House 31 CHAPTER 4 Take the Staging Magic Outside 59 CHAPTER 5 Getting It Done: It’s Commitment Time 79 CHAPTER 6 Staging on a Dime 91 CHAPTER 7 Showing Your Staged House: Lights! Music! Action! 103 CHAPTER 8 Welcome to Barb’s House: Staging to Live! 109 CHAPTER 9 What Do You Do When You Need Help? ASPs to the Rescue! 119 CHAPTER 10 Staging Tales from the Trenches 125 CHAPTER 11 How to Work with Your Real Estate Agent 151 CHAPTER 12 How Home Staging Is Changing the Real Estate Industry 161 STAGING RESOURCE CENTER Recipe for a Sale 175 Why Should You Stage Your Home? 177 Your Personal Moving Checklist 179 Barb Schwarz’s Home Staging Wisdom: Words That Work 183 Who Is an Accredited Staging Professional? 185 What You Can Expect If You Work with an Accredited Staging Professional 187 Barb Schwarz’s Staging Criteria 189 Showing Your Staged Home 201 Quick Tips for Staging Your Home 203 Index 207

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Book SynopsisAnyone, whether they work for themselves or they manage thousands of employees, needs to be a more effective leader to be more successful. Instead of being a bully, people can learn to inspire the people around them. They create a concept of what the company's goals are and how everyone can work together to accomplish their goals.Table of ContentsIntroduction. PART ONE: SO YOU WANT TO BE A LEADER. Chapter One. What You Need (And Don’t) To Be a Good Leader. Chapter Two. Leading Sometimes Means Following. Chapter Three. Why News Managers Fail: The Most Common Leadership Pitfalls. Chapter Four. Thinking “Out of the Box”—What It Really Means. Chapter Five. Creative V.S. Reactive Leadership. Chapter Six. Making Difficult Decisions Easy: A 7 Step Plan. Chapter Seven. Reason Or Gut Instinct, Which Rules? (Separating The Men From the Boys). Chapter Eight. Are You Too Competitive? Chapter Nine. Mind Your Manners. PART TWO: LEAD BY EXAMPLE: SECRETS OF THE MOVERS AND SHAKERS. Chapter Ten. #1: Coming Up With The Big Idea. #2: Don’t Wait For Consensus. #3: Strengthen Your Ideas: The Leap From Contemplation to Testing. #4: Setting a Goal and Rallying The Troops. #5: Creating A Plan and Attaching a Deadline. #6: Following Up. #7: Create a Culture of Accountability. #8: Practice Makes Perfect. Chapter Eleven. How to Get Promoted. Chapter Twelve. The Power of Delegation. Chapter 13. Achieve More with aMentor. Chapter 14. Make Your Company Better and More Productive Today. PART THREE: SO YOU WANT TO BE A LEADER. Chapter 15. The Art of Criticism…The Skill of Praise: How Good Leaders Use Both to Their Advantage. Chapter 16. Three Communication Secrets of Highly Effective Leaders. Chapter 17. Speak More Powerfully…Leading by Persuasion. Chapter 18. How to be a Successful Negotiator: Handling Objections and Obstacles Like a Pro. Chapter 19. Standing Up to Business Bullies TheRight Way. Chapter 20. Asking Questions Like a Born Leader. PART FOUR: LEADING THE TROOPS DAY BY DAY. Chapter 21. Improving All of Your Relationships: How to Get People to Like You and Do What You Want. Chapter 22. Creating Stellar Employees with 5 Training Tips. Chapter 23. Transform Your Team into a Winning One. Chapter 24. How to Make Meetings Work The Way You Want Them To. Chapter 25. TheBest Way to Deliver Bad News: When to Write…When to Phone…When to Have Lunch. Chapter 26. What to do with Problem Employees (And Their Problems). Chapter 27. How to Fire People (Without the Agony). Chapter 28. The Secret to Getting Everybody (Including The Laggards) to Be More Productive. Summary. RecommendedReading. Index.

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Book SynopsisA professional pitching coach for one of the world's largest marketing conglomerates, Jon Steel shares his secrets and explains how you can create presentations and pitches that win hearts, minds, and new business. He identifies the dos and don'ts and uses real-world examples to prove his points. If you make pitches for new business, this is the perfect book for you.Trade Review"...pitching is a necessary evil, and here Steel dispenses his wisdom on how to come through the other side" (The Drum, October 17th 2008)Table of ContentsIntroduction: An Audience with Steve Jobs. Chapter 1. Presentation Crime: Why Most Presentations Fail. Chapter 2. Imperfect Pitch: The People of the State of California v. Orenthal James Simpson. Chapter 3. Bill Clinton, Johnnie Cochran, and a London Hooker: Learning from the World’s Best Presenters. Chapter 4. Making Connections: Planning the Perfect Pitch. Chapter 5. Trevor’s Sledgehammer: Crating room for Thought. Chapter 6. We Will Fight them in the Boardroom: How to Run a Great Idea by Presenting it Badly. Chapter 7. Benign Dictatorship: Leading the Perfect Team Pitch. Chapter 8. The Pitch and Beyond: How to Leave the Client Wanting More. Chapter 9. The Perfect Pitch: London’s Winning bid for the 2012 Olympic Games. Acknowledgments. Bibliography. Index. About the Author.

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Book Synopsis"Stafford Beer is undoubtedly among the worlda s most provocative, creative, and profound thinkers on the subject of management, and he records his thinking with a flair that is unmatched. His writing is as much art as it is science. He is the most viable system I know.Table of ContentsCONCEPTS, PERCEPTS, PRECEPTS. An Entry. Double Entry. Emergency Exit. The Exit. Bases of Viability. THE VIABLE SYSTEM. Freedom. Constraint. Inside and Now. Outside and Then. Metasystem. VENTURES IN VIABILITY. Measurement. Plots... ...And Plans. Calm and Alarm. Life and Death. THE LONG AND THE SHORT OF IT: Notes on Implementation. On Success. Graphical Distortions of the Model. Substantive Elaborations of the Model. Cyberfilter and the Time Barrier. The Evolution of a Management Cybernetics Process. Appendices. Index.

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Book SynopsisThis revised edition of a business management textbook develops an account of a company based upon insights derived from the study of the human nervous system. It outlines the author's theory of viable systems practice.Table of ContentsCONCEPTUAL COMPONENTS. Let's Think Again. Concepts and Terms. The Dimensions of the Problem. The Organization of Unthinkable Systems. Hierarchies of Control. THE FORMS OF THE MODEL. The Anatomy of Management. Control Physiology. Autonomy. Autonomic Management. The Biggest Switch. THE USE OF THE MODEL. Corporate Structure and its Quantification. Autonomics--Systems One, Two, Three. Environments of Decision--System Four. The Multinode--System Five. The Higher Management. THE COURSE OF HISTORY. A Flying Start. Into its Stride. The October Watershed. The End of the Beginning. Prospectus. References explicit to these five chapters. Appendix. Glossary of Cybernatic Terms Used in this Book. Select Bibliography. Index.

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Book SynopsisExplains how to design or redesign an enterprise through the process of diagnosing organizational faults and weaknesses. At the core of this study is an analysis of the fundamental problems of management - how to cope with the complexities of business practice.Table of ContentsWhat this Book is i Introduction v Foreword ix The Viable System Section One 1 Section Two 19 Section Three 37 Section Four 55 Section Five 73 Section Six 91 Section Seven 107 Section Eight 123 Completion of the Model 135 Appendix 137

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a huge range and FREE tracked UK delivery on ALL orders.

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Book SynopsisThirty years ago Peter Checkland set out to test whether the Systems Engineering (SE) approach, successful in technical problems, could be used by managers to cope with the unfolding complexities of everyday life. His findings were revealed in Systems Thinking, Systems Practice. In this paperback reissue of his second classic of systems literature, again featuring the excerpted new section, Checkland develops his ideas to show how the principles have been extended by use in industry. Case studies are used to show how SSM can be applied and what lessons can be learned from its application in different areas.Table of ContentsThe Emergence of Soft Systems Thinking. Soft Systems Methodology-the Whole. Soft Systems Methodology-the Parts. Soft Systems Methodology-the Whole Revisited. Soft Systems Methodology-the Context. Conclusion. Appendix. Bibliography. Indexes.

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