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    25 Stories About Work – Building a Web Site, Then and Now

    Posted by Carl from Chicago on 17th November 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Chicago, around the year 2000, before the dot-com bust

    Back around 2000 I worked in an “incubator” that was a digital design agency. At that time everyone was moving onto the web, and it was a giant land rush.

    This was the first time I worked in an office with any type of serious amenities. They had free coffee, lounge areas, and the occasional foosball table. Previously I had been a buttoned down consultant, auditor, programmer and project manager – and all of the sudden the world changed and we engaged with a whole host of “creatives” and designers on joint projects.

    Back then we all wore suits. I remember one day very clearly; one of the designers sat immediately in front of me. I was looking up and I saw “Victoria’s Secret” – she was showing off the new style where women were wearing their pants so low that their underwear was showing. To a consultant that charges hundreds of dollars an hour (not like we collected it, but that’s a different story) this sort of behavior and style just screamed WTF.

    When we bid on a client our clashing styles were immediately evident. I started out the template to respond to the RFP (request for proposal), and was tasked with estimating the cost to reply to this opportunity. The creatives didn’t seem to understand any of my questions, which seemed pretty simple to me:

    What are we delivering, and how many hours will it take to build it?

    They couldn’t be pinned down. Were we making a logo, or a web site? Would it allow them to run transactions? At the time that was just a tremendous amount of work and seemingly an insurmountable task.

    We ended up bidding hundreds of thousands of dollars for what, I still am not sure. The company who was “buying” our services was VC funded and was just about bled dry, without having even launched anything substantial. The era of the dot.com companies had petered out and we were entering a recession.

    Read the rest of this entry »

    Posted in Business, Personal Narrative | 4 Comments »

    Bitcoin ATM

    Posted by Carl from Chicago on 14th November 2014 (All posts by )

    Recently I was standing in the Merchandise Mart when I noticed something new – a Bitcoin ATM! This ATM allows users to utilize Bitcoin to receive dollars in exchange, in that sense being a “regular” ATM.

    This is a Robocoin kiosk. Here is a link to their site where they describe what you can do at this ATM. I like their example of someone in Argentina depositing their currency in Bitcoins to avoid the inflation (and risk of outright seizure) that Argentina faces.

    If you are interested in Bitcoins, wikipedia has an excellent summary here.

    Cross posted at LITGM

    Posted in Business, Chicagoania | No Comments »

    Retrotech: Using Network Technology for a Stock Trading Edge

    Posted by David Foster on 13th November 2014 (All posts by )

    1914-style

    Posted in Business, Economics & Finance, Markets and Trading, Media, Tech | 4 Comments »

    Innovation – A Bed in a Box From Casper

    Posted by Carl from Chicago on 12th November 2014 (All posts by )

    Recently we contemplated buying a new mattress. There are seemingly infinite ways to approach this problem, from the Hasten’s bed store down the street in River North where they cost $16,000 and up to the re-occurring commercials on TV promising custom or cheap mattresses. This article in the NY Times “How to Find the Best Mattress in the Maze of Choices” explained how customers were confused in a world of competing brands, technologies, and choices.

    Since we are not excited about spending all day shopping and fond of trying something new, we took up one of their recommendations which was a company called Casper which can be found at http://www.casper.com. Casper was well recommended on their site and sold only ONE product (reminiscent of Apple’s strategy) which was a mattress that they ship to you in a box. The only difference was the size of the mattress to fit your bed frame. We bought a queen size mattress with shipping and tax included for $850.

    This model is highly innovative. Instead of investing in a vast distribution system and retail footprint, moving to an online only (they have one store in NYC) model with a much smaller shipping plan (it is much easier to ship this box than a standard mattress), they should be able to beat the hell out of competitors assuming that they have a superior product.

    Here is what the box looked like when it arrived. It was a relatively small box and I could put it on a cart and manhandle it around the condo.

    Read the rest of this entry »

    Posted in Business, Product Reviews/Endorsements | 9 Comments »

    The American Mittelstand

    Posted by David Foster on 5th November 2014 (All posts by )

    Two posts that sort of go together:

    GE Capital cites some data from the National Center for the Middle Market on the importance of the “unsung heroes of the US economy”–the 200,000 businesses with annual revenues ranging from $10 million to $1 billion.

    Amy Cortese writes about the potential re-emergence of local/regional stock markets, which could provide an avenue for companies in the middle market category to obtain financing and hence accelerate their growth.

    Posted in Business, Economics & Finance, Entrepreneurship | 9 Comments »

    25 Stories About Work – Consulting HR and the Tragedy of the Commons

    Posted by Carl from Chicago on 1st November 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Baltimore, the late 1990s

    In the late 1990s I worked for a large, now defunct, management consulting firm. This firm had recently gone public to great fanfare and morale was high. As a senior manager (a title right below partner), however, I had already seen a lot of booms and busts in this arena and was skeptical.

    Consulting firms have large pools of skilled resources. You can classify the resources many ways – by skill set (MBAs, engineers, programmers, project managers), by industry expertise (finance, government, utilities, technology), by region (a large firm might have 30-50 offices scattered throughout the US and nearby countries), or by level (staff, senior, manager, senior manager, and partner). Each of these categorizations is valid in some dimension.

    Consulting firms and audit firms used to have everyone come “up through the ranks”. They rarely hired from competitors, and when you left you weren’t welcome back. This has changed 100% today with staff at all levels jumping ship to competing firms, out to industry, and back in. The firms today also have an active alumni outreach plan to bring back talented staff that may want to return to consulting.

    At the time the firm I was with was organized mainly by “industry” regardless of your physical location. I was in the utilities group along with many other individuals scattered throughout the USA. This firm did not have a thriving utilities practice so we were often fighting uphill for assignments and our staff were often “seconded” to other verticals to fill needs on sold work.

    Our utility engagement was in Baltimore. Baltimore at the time was at a low ebb, with the downtown populated by crackheads and other undesirables. It didn’t matter much to us since we were staying in a hotel a couple blocks from our client.

    The partner on our engagement (who was the boss) was an ex-Navy SEAL. He was a very fun and interesting guy. I wasn’t there but one time another staff person said that they went to an antique store and the partner took a knife from the display and started doing that thing where you put the knife blade between each of your fingers in a pattern, going faster and faster. At some point the partner nicked the web of his hand and started bleeding but didn’t even flinch. It sounded plausible to me.

    For a variety of reasons the HR department of the consulting firm was investigating this partner. Since work is done on the road there is little supervision but somehow bad news about this partner got to HQ so they sent out a hapless HR partner. The HR partner sat down with me and started asking questions. My response was

    I don’t have anything bad to say about a guy who could kill me with his pinky

    The interview obviously ended soon after.
    Read the rest of this entry »

    Posted in Business, Personal Narrative | 6 Comments »

    Annals of the Tiny Bidness

    Posted by Sgt. Mom on 31st October 2014 (All posts by )

    So – how to begin the story of how I became a business owner? I suppose that the very beginning came about when I realized that I was sick to death of working for other people, answering to sometimes erratic bosses, metaphorically (and sometimes in reality) punching a time-clock or logging my hours as an admin/office-manager/executive secretary or whatever the temp agency sent me to perform. I had also realized that I was good at writing, wanted to write professionally, and was on the cusp of transforming the amateur word-smithing into a paying job. I was encouraged in this ambition by a number of early blog commenters on the old Sgt. Stryker site who basically said I was very good at the writing and story-telling thing and they wanted more – mostly in the form of a printed book – while some other bloggers with slightly more extensive and professional writing credentials also said I was very, very good and ought to consider going pro myself… and then there was one commenter who didn’t have internet at home, and wanted to read my posts about my admittedly eccentric family – so he inquired after my mailing address, and sent me a box of CD media, so that I could put an extensive selection of early posts about my oddball family on it – one for him, the note said, and the rest for any other readers of the Sgt. Stryker site who wanted a such a collation. I swear unto all, this was about the first time that it ever occurred to me that yes, I had an audience, and one willing to pay money, or at least, for a box of CD media.

    Eventually, I did produce a book – a memoir cobbled together from various posts about my family, and growing up – and there it all rested, until another blog-post sparked my second book and first novel. Again, a blog-fan encouraged me to write it, and one thing led to another, resulting in To Truckee’s Trail. About two and a half chapters into the first draft I was let go from a corporate job – a full-time job with which I had become increasingly dissatisfied. On many an afternoon, walking through the duties expected of me, I kept thinking of how I would rather be and home and writing. It was a small shock being fired, actually – but I kept thinking Whoo-hoo! I can go home and work on the third chapter!  I was oddly cheerful throughout the actual firing process, totally weirding out the HR staffer in charge of processing my dis-engagement from the company involved. Read the rest of this entry »

    Posted in Arts & Letters, Business, Personal Narrative | 5 Comments »

    Peter Thiel on Political Correctness, Courage and the Corrosion of Conformity

    Posted by Lexington Green on 29th October 2014 (All posts by )

    “The core problem in our society is political correctness.”
     
    “We’ve become a more risk-averse society,” he said, “we’ve lost hope in the future.” The problem isn’t one of intelligence, but of character. “We live in a world in which courage is in less supply than genius.”

    “The Wisdom of Peter Thiel“, from First Things — RTWT.

    Incidentally, I recently read Thiel’s book Zero to One: Notes on Startups, or How to Build the Future. It is very good.

    I see significant overlap between Thiel’s message and some of the themes in America 3.0: Rebooting American Prosperity in the 21st Century-Why America’s Greatest Days Are Yet to Come. I hope to write more about this soon.

    Posted in Book Notes, Business, Leftism, Political Philosophy, Society, Systems Analysis, Tradeoffs | 8 Comments »

    Proof Positive

    Posted by Sgt. Mom on 25th October 2014 (All posts by )

    Below the fold, pictorial proof that everything IS bigger in Texas…

    Read the rest of this entry »

    Posted in Business, Customer Service, Humor, Photos | 12 Comments »

    25 Stories About Work – Lost Productivity and Typing

    Posted by Carl from Chicago on 23rd October 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Vermont, the early 1990s

    When I was interviewing for my first job I had a chance to visit IBM in Burlington, Vermont. At the time IBM had a large contingent of workers and management staff at that location. On an unrelated note, IBM still has about 4000 workers in the state, and recently offered a company $1B TO TAKE THEM OFF THEIR HANDS. To confirm, they were willing to sell this business for negative one billion dollars (to quote Dr. Evil). And the sad thing is that the “buying” company wanted IBM to PAY THEM two billion, so they rejected the “offer”. Read about it here.

    I had been on a plane maybe once or twice previously and was completely clueless about what to do. I packed my bags and took a cab to the hotel. In the morning, before my interview, I got into the shower and turned on the water. I did not think to check what the temperature was before I got into the shower and it happened to be set on a scalding level; I ended up falling back out of the shower, grabbing the curtain on the way down, and scattering the shower curtain rings throughout the bathroom. I wasn’t seriously hurt. To this day I always check the shower temperature while standing outside the shower stall (or tub) and I only go in when it is at an appropriate level.

    The day started out on an ignominious note (with the shower incident) and the interviews were a disaster. I think we ended the day with a discussion that maybe someday I would at least utilize IBM equipment (they were primarily a manufacturing company at that time) since it seemed obvious that I wouldn’t get a job offer in Vermont.

    What I remember most of all was the endless sea of desks. IBM had workers that manually calculated their managerial accounting reports and they sat in a giant room that seemed to go on for infinity. I don’t have a photo but in my head it looks something like this…

    Read the rest of this entry »

    Posted in Business, Personal Narrative | 8 Comments »

    Retail Therapy ‘n’ Woes

    Posted by Sgt. Mom on 20th October 2014 (All posts by )

    With so many other bad and dangerous things hanging over us like a Damocles sword – an Ebola epidemic in the US, ISIS setting up a new and brutal caliphate in the middle east, the final two lame duck years of the Obama administration, and the anointing of a minimally-talented yet well-connected legacy child like Lena Dunham as the media voice of a generation – and the upcoming marathon of holiday markets and book events in front of me like so many hurdles to be gotten over in a frantic two-month-long dash – where was I?
    Oh, yes – amidst all the impending gloom, doom, and Bakersfield (that’s a California joke, son) my daughter and I are coping with the rather minor tragedy of a friend of ours loosing her job. Minor to us, of course – but not to our friend, a vivaciously charming English lady of certain years whom I shall call Kay, whom we met when she managed a thrift shop to benefit a certain well-established local charity, in a preposterously wealthy outlaying town within driving distance from San Antonio.
    Read the rest of this entry »

    Posted in Business, Customer Service, Diversions, Personal Narrative, USA | 5 Comments »

    25 Stories About Work – “Don’t Hang Up” and the Recruiter from Detroit

    Posted by Carl from Chicago on 19th October 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Champaign, early 1990s

    As I graduated from college in the early 1990s, I went through the interview process on campus. About half the companies really liked me and about half the companies hated me. I guess I was a polarizing interviewee but who knows I had little idea about what to expect in an interview or how to behave. I do remember buying a suit with my mother for about $400 which seemed like an astonishing amount of money at the time.

    In addition to the on campus recruiters, I also fielded some phone calls. Looking back before the age of cell phones it is amazing that anyone ever got in touch with anyone else – they must have called me in my dingy hellhole of an apartment in the 5 minutes that I happened to be there in between class, prepping for the CPA exam, and going out drinking. I guess we had an answering machine but I’m not even sure about that and my roommates at the time weren’t exactly the most reliable.

    I was enamored with the idea of work and getting the heck out of Champaign so I was like a happy puppy when anyone called. The joke is that I would select the last recruiter to call.

    One day I did receive a call: Hello. I’d like to talk to you about a job opportunity in the transportation industry, he said. I was interested. I was always interested. Then he said something I’ll never forget.

    The job is in Detroit. Don’t hang up!

    The recruiter combined both sentences into almost a single thought, with urgency, because he apparently was used to people instantly hanging up as soon as they heard the job opportunity was in Detroit.

    I didn’t hang up. But I surely did not pursue that opportunity. Because it was in Detroit, of course. No wonder that city went down the drain…

    Cross posted at LITGM

    Posted in Business, Personal Narrative | 18 Comments »

    A Cool Startup Story, Revisited

    Posted by David Foster on 18th October 2014 (All posts by )

    In 2005, I posted about a company called Theranos, as part of the “cool startup story” series at Photon Courier.  The company was founded by Elizabeth Holmes, who left Stanford at age 19 in order to pursue her idea for a quantum improvement in blood testing.  The original focus was on the detection of adverse drug reactions and the analysis of drug effectiveness on a more-individualized basis.

    My, how this little company has grown up.  Theranos now has 500 employees and a valuation of about $9 billion.  They can currently perform 200 of the most commonly-ordered blood diagnostic tests, and can do it without a syringe–only a few drops of blood are necessary, and these are obtained from a finger prick using “a patented method that minimizes even the minor discomfort involved with that procedure.” (The Fortune writer tried it, and said “to me, it felt more like a tap than a puncture.”)  Theranos now has a deal with Walgreens, initially making its service available in stores in California and Arizona and with plans to roll the service out to all 8200 Walgreens stores nationwide.

    Holmes:

    There are a billion tests done every year in the United States, but too many of them are done in the emergency room. If you were able to do some of those tests before a person gets checked into the ER, you’d start to see problems earlier; you’d have time to intervene before a patient needed to go to the hospital. If you remove the biggest barriers to these tests, you’ll see them used in smarter ways.

    and

    Phlebotomy is such a huge inhibitor to people getting tested. Some studies say that a substantive percentage of patients who get a lab requisition don’t follow through, because they’re scared of needles or they’re afraid of worrying, waiting to hear that something is wrong. We wanted to make this service convenient, to bring it to places close to people’s homes, and to offer rapid results.

    From a 2005 Daily Duck post about Theranos:

    …in how many nations of the world could A TEENAGE GIRL get a serious audience, and then MILLIONS OF DOLLARS in VC funding, to develop her idea ?!?

    There are many unpleasant consequences to American society being perpetually adolescent, a bit shallow and thrill-seeking, with an attention deficit and a naive optimism born of ignorance about the odds, but this type of thing is one of the UPSIDES of being that way.

    In America, if you can do, the odds are pretty good that you’ll be allowed to do, regardless of your shortcomings and quirks. We’re flexible and goal-driven, not so much wedded to process.

    Posted in Business, Entrepreneurship, Health Care, Tech, USA | 15 Comments »

    25 Stories About Work – Office Hoteling and the Elusive Consultant Desk

    Posted by Carl from Chicago on 16th October 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Chicago, the ’90s…

    When I first started out as an auditor I had a tiny cube that consisted of just a desk and a chair with a big phone in a giant warren full of other cubes. There was a big bay window that let in the sun and lights far overhead. I didn’t know anything and was happy just to have a place to call my own.

    How accounting worked at the time was that you were assigned to clients and were “on the road”. If you were in the office you charged a code for down-time and struggled for something to do. You could take a training class, do research in the library, or more often than not you’d be assigned some sort of drudgery administrative work. Most of the time I ended up photocopying our audit files when clients transitioned to new auditors, which is much more work than it sounds because you had to dis-assemble the work papers, copy them, and then re-assemble the files again. The copier tended to regularly jam and you soon learned how to take that copy machine apart, as well. Not a good use of a master’s degree…

    After a while the managers learned who was good and who wasn’t and I was constantly busy as a result. We worked and traveled all the time and often I had overlapping clients, meaning that tasks I couldn’t complete onsite piled up for me at the little cube while I was at a different client. This was before any concept of telecommuting and we didn’t even have our own laptops. The only way to get work done was to show up at the office (on Saturday or Sunday, since I traveled all week) and do the remaining tasks.

    One time our office engaged in some sort of ISO process and they decided that having a “clean desk” was mandatory. So the (usually worst) staff that were in the office packed up everyone’s desk and sent it off site so that when the office tour occurred, my little rat cube was completely clear. Thus when I showed up on a Sunday a couple of weeks later to follow up on some annoying task from a parallel client, all of my papers were gone and that was an entirely wasted day. The fact that I still remember this over 20 years later shows how angry I was at this bureaucratic stupidity.

    Read the rest of this entry »

    Posted in Business, Chicagoania, Personal Narrative | 6 Comments »

    25 Stories About Work – New Mexico Is Part of the United States

    Posted by Carl from Chicago on 11th October 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    El Paso Texas, the ’90s…

    I supported a financial analytics system for a utility based in El Paso, Texas. Before I visited El Paso for work I knew virtually nothing about the area, the economy, or the people. One of the most interesting and unexpected benefits of my career was the opportunity to extensively work in areas of the USA that I never would have visited otherwise.

    One thing I did know is that 1) Texas has its own electricity grid that ‘walls it off’ from the rest of the USA called ERCOT 2) the El Paso area was “outside” of that grid. Thus while Texas may be its own separate country in their mind, El Paso was something else entirely.

    Another realization when you are working in El Paso is just how damn big Texas is. It can take longer to drive from El Paso on the western side of Texas to Houston on the eastern side of Texas than to drive from El Paso to Los Angeles. It was also extremely hot and the sun was blazing; some of the women brought umbrellas to shield themselves from the noon-day sun.

    The managers I met in El Paso said it would likely make more sense for El Paso to be part of New Mexico, rather than Texas. Many of the managers lived in New Mexico. A funny story they told was how many Americans believed that New Mexico was NOT part of the United States, and stories like this were collected in the back page of a local magazine and they were often hilarious.

    While flying to New Mexico one day I sat next to a gentleman that was frequently in El Paso for business. At the time, Ford Expedition SUVs were all the rage. He said that the last three times he visited El Paso, he selected an Expedition from the local rental car affiliate, and the car was stolen (and likely driven over the border into Mexico). I didn’t ask him why he was so stubborn and kept renting them.

    Read the rest of this entry »

    Posted in Business, Personal Narrative | 5 Comments »

    Gypsy Retail in the Autumn

    Posted by Sgt. Mom on 6th October 2014 (All posts by )

    My daughter and I spent almost all of last Saturday at our booth in the parking lot of a local Beall’s, in the heart of what would pass as the new downtown of Bulverde, Texas – if Bulverde could be said to have a downtown of any sort. There is a sort of Old Downtown Bulverde, at the crossroads of Bulverde Hills Drive and Bulverde Road, where the post office is (in a teeny Victorian cottage covered with white-painted gingerbread trim) and around the corner from one of the original settler’s farmsteads, complete with an original stone house and barn – now repurposed into an event venue. There is a small airfield nearby, and astonishingly enough, Googlemaps show a polo ground. But the landscape all around is that of the lowland Hill Country – low rolling, patched scrubby cedar, and occasional stands of live oaks. Everything – including a perfectly astounding number of single family housing developments are scattered unobtrusively here and there among the hills, the cedar and the oaks.
    Read the rest of this entry »

    Posted in Business, Customer Service, Diversions, Entrepreneurship, Personal Narrative | 9 Comments »

    25 Stories About Work – Brooklyn Before Gentrification

    Posted by Carl from Chicago on 4th October 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Brooklyn, New York City, the ’90s…

    I was assigned to do a regulatory audit of a large utility in Brooklyn, New York, in the 1990s. At the time Brooklyn was nothing like it is today. When I got off the plane at LaGuardia and hailed a cab…

    Me to the Driver – I want to go to Brooklyn. The Driver – Hell no, I’m not driving to Brooklyn

    After I finally convinced a cab driver to take me to Brooklyn (with much New York style yelling), when he dropped me off in front of the office building, he would whip the wheel around as fast as he could and do a U-turn right in front of the facility and high-tail it off to the highway to get out of Brooklyn. They couldn’t get out of the neighborhood fast enough.

    The utility was based at what appeared to be the only newer office-type building in Brooklyn. There were NO hotels that you could stay in Brooklyn at the time. We stayed in Manhattan and took the subway to work every day. We seemed to be the only boring white accountant-type people in suits going TO Brooklyn in the morning and we were the same distinct minority returning to our hotel every evening. Our partner onsite was kind of distracted so we had to stay on him to get out of work at 5pm so we weren’t taking the subway at night because that seemed to be a dicey proposition.

    Whenever there is a strike at a utility the union guys who read meters and make service calls walk off the line and management comes out to do essential tasks (along with other people that they hire). Thus the management people that we spoke with had harrowing tales of visiting completely dilapidated and burned out homes throughout the borough while they were on strike duty. Management seemed to live everywhere except Brooklyn and it made sense why – there were even a few who lived in Pennsylvania and made epic commutes to and from work daily.

    One manager talked about a scam where people wrote checks to the utility to pay bills and often they used a 3 digit acronym rather than spelling the whole utility. He said one of the customer service agents took those first three digits and added a last name and opened a bank account themselves under that combined name and took the checks and deposited them, running off with the money. We laughed a lot because that seemed like a scam that was doomed to fail after a while but a bit clever.

    There were no cabs in Brooklyn. You had to hire a “car service” which was usually a completely beat up Chevy Impala or the like driven by someone who spoke zero English. They usually had no idea how to get to the airport so I had to give them directions. A few times I was very scared that the car would literally fall to pieces while we were driving; they were probably old taxis that had given up the ghost and given a second, desperate life through this method

    One Monday morning when I was flying in I felt dizzy and ill and when I got onsite in Brooklyn at the only standing office building I came down with the flu very badly. I kept throwing up in the stall and getting progressively weaker. I was the only person onsite from my company and didn’t know the client people well enough to count on them to take care of me so in the few minutes between throwing up I somehow got back to Manhattan (probably via the subway, I don’t remember) and arrived at my hotel early. For some reason I remember this clearly – the band Rancid was pulling up and their hair was spiked up and they had real “rock chicks” with them in miniskirts and fishnets and covered with tattoos right when I arrived. They said my room wasn’t ready yet so I told the clerk “that’s fine, I will just projectile vomit onto you” and amazingly they got me a room right away. I just sat in there and was sick for a few days and then flew back to Chicago. That was not a productive week at all, obviously.

    Today Brooklyn has changed immensely and seems to be almost completely gentrified. I even have friends that I visit there and it is quite charming. It is amazing to think of all these changes that have occurred since I first went there in the early 1990s.

    Cross posted at LITGM

    Posted in Business, Personal Narrative | 4 Comments »

    25 Stories About Work – Industrial Decay

    Posted by Carl from Chicago on 3rd October 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Somewhere in a Northwest Indiana formerly industrial city, the ’90s…

    We had a utility client in Northwest Indiana. The city used to be a large industrial town but had been hit hard by various plant closings and also the rout of the US steel industry in the ’70s and the ’80s. A friend of mine joked that you wouldn’t be surprised to see a dinosaur walking around the abandoned ruins of the nearby towns and city. For some reason I thought that was really funny after working there for a while.

    At our client they had multiple buildings that were connected by walk ways that were sometimes rounded or with all around glass. We called them the “habitrail” just like the hamster homes you could buy for your pets.

    The work onsite at the client was grim. I was given the least exciting areas to audit, the balance sheet and plant accounting. The balance sheet had assets that were not documented that were stagnant for years. At that point in auditing all you did was to re-word the notes from the prior year accounts and then put them back in this year’s file. After just a few hours as a novice auditor I pointed out that the notes didn’t make sense and started to do a bunch of new analytics when they told me to stop and just gave me something else to do. This is where you get the joke

    Why did the accountant cross the road? Because they did it last year.

    If you tell that joke to an accountant I am telling you they will laugh their heads off. It isn’t really funny to anyone else but it sums up the drudgery of what auditing used to be.

    One day the partner came out. Now we were all packed in a grimy little room. These were also the days when you could smoke like a chimney in the office and we all wore wool suits so I might as well have smoked 3 packs a day too. I stunk. It was after noon and I was hungry and I broke the silence by asking if we were going out to lunch. The whole room swiveled their heads at me and I got a tongue lashing later from the manager. I wasn’t supposed to talk or ask any questions while the partner was on site. Live and learn.

    Driving to Indiana from downtown Chicago was a long effort. The air conditioning in my car wasn’t great so I’d usually just drive in a T shirt and change when I got near the facility. One time I was pumping gas in a gas station nearby when the auto shut off didn’t work and I got gasoline all over my suit. That did not make for a pleasant afternoon of work.

    Another time when I was pumping gas a deranged, toothless local came up to me with his arms waving.

    Don’t sign the deed! he screamed. Don’t sign the deed!

    I didn’t.

    Cross posted at LITGM

    Posted in Business, Personal Narrative | 13 Comments »

    Worthwhile Reading & Viewing

    Posted by David Foster on 2nd October 2014 (All posts by )

    The festival of lights in Thailand

    Three Irish girls win the Google Science Fair with an approach to bacteria-enhanced crop growth

    Two versions of “Oklahoma” at Bookworm, with discussion

    10 Disney cartoons from the 1930s, with link to an article on the evolution of Disney’s cartoons over several decades

    The lost art of political persuasion.  This piece at Ricochet argues that politicians are now less about converting the opposition and persuading the undecided, and more about activating those who are already members of their choir.

    Bill Whittle thinks it’s time to talk about some good news (video)

    A recent study suggests that empathy can lead to scapegoating

    Book giveaways during WWII contributed greatly to the popularization of reading and the subsequent growth of the publishing industry.

    This article by a Wharton professor argues that “emotional intelligence is overrated” and, specifically, that it is overrated in sales.  He cites a study in which hundreds of sales people were tested both for emotional intelligence and cognitive ability, and their sales performance subsequently tracked…with the conclusion that cognitive ability was more than 5X as powerful as emotional intelligence in predicting sales performance.  (Actually, I’m pretty sure that the importance of cognitive ability and the importance of emotional intelligence both vary greatly depending on what you’re selling and who you’re selling it to, and also on what kind of resources the salesman needs to leverage within his own organization.)

    Posted in Arts & Letters, Business, Education, Elections, Film, History, Human Behavior, Management, Photos, Politics, Science, USA | 2 Comments »

    25 Stories About Work – Plains Blizzard

    Posted by Carl from Chicago on 2nd October 2014 (All posts by )

    I was recently on a plane doodling and thought of some funny / interesting stories from 25+ years of working and traveling. So I decided to write them up as short, random chapters of a non-book with the title of this post. Hope you enjoy them and / or find them interesting. Certainly the value will be at least equal to the marginal cost of the book (zero)…

    Somewhere in Iowa, the ’90s…

    I was an auditor for a long since merged together utility. We used to fly in and out every week, leaving Sunday night (in your suit, in case your luggage was lost by the airlines) and leaving the office at 5pm Friday and driving to an airport 3 hours away to arrive home about 10pm Friday. We did this every week for the “busy season” which lasted about 3 months or so.

    For Thanksgiving weekend one time we left on a Wednesday. A giant storm was coming up over the plains as we drove across Iowa into Nebraska where the airport was for flights into Chicago. At the time we didn’t really have cold weather gear, we just had long wool coats and leather gloves to go over our suits. We didn’t even have boots, just work shoes.

    We stopped at a gas station and the wind was really whipping across the plains. When I got out to pump gas I was almost knocked flat on my back. While shivering in the car after pumping gas I told them we ought to turn back and just give up for the night and stay in Iowa.

    I was the lowest ranking guy so I was overruled. There were obvious reasons why everyone wanted to get home for Thanksgiving and away from work in Iowa.

    Read the rest of this entry »

    Posted in Business, Personal Narrative | 10 Comments »

    The Restaurant and Bar Business

    Posted by Carl from Chicago on 27th September 2014 (All posts by )

    I am far from an expert on the Restaurant and Bar Business segments but as a long time resident of Chicago in various areas packed with these establishments from Wrigleyville to Bucktown to River North I am at least a frequent regular qualified to throw my 2 cents in. I hadn’t thought too much about the economics of this until I talked to a friend who recently opened two great pizza places where he is the owner about what you get when you buy a used restaurant.

    You get nothing… you have to re-model and start over the food concept. And when you sell, the next guy does the same.

    What makes a good restaurant as a business? There are a lot of variables and I am only speculating, but certainly timing and location are key elements. For instance you have the Twisted Spoke, a bar on Grand Avenue in what used to be a pretty sketchy part of town that is rapidly gentrifying, and they have the iconic “skeleton on a motorcycle” on permanent rotation in front. This bar has survived for a long time with a mix of hipster / biker cool, an astoundingly good drink / beer mix, and surprisingly good food and interesting / witty / iconic employees. I’d bet that back in the day this place was actually full of bikers but nowadays the crowd looked like the usual hipsters in plaid shirts. And don’t forget the enormous benefit of a rooftop – it astounds me how many bars / restaurants ignore the fact that Chicago people LOVE to sit outside during the few nice days that we receive every year and they drink like fish and eat until they can’t even move.

    Read the rest of this entry »

    Posted in Business, Chicagoania | 35 Comments »

    Peter Thiel and George Gilder debate on “The Prospects for Technology and Economic Growth”

    Posted by Lexington Green on 26th September 2014 (All posts by )

    This is an excellent dialogue between George Gilder and Peter Thiel, from 2012, regarding two different versions of what the future will look like.

    It is a little over an hour, and I highly recommend you listen to it.

    Gilder is a thorough-going optimist. He sees a world where everything is good and getting better, and critiques of technological change are generally wrong-headed. That is a brutal over-simplification, of course. Gilder is a seasoned speaker, debater and writer. He makes a decent case, better than I am suggesting here.

    Theil makes a more subtle case. He says that technology, other than the technology has stalled for decades. He says that the fields of engineering that deal with “stuff” have been — and this is a strong word — “outlawed.” As a result, the only areas where technological change is happening are in finance and computing. Nuclear engineering, for example, would have been a suicidal career choice if you made it a generation ago.

    So, Theil is one hand a pessimist. He sees a decay in the rate of technological development, a decay in standards of living and real wages, a decline in optimism and expectations for a better future.

    However, he does not conclude, “so, we are doomed.”

    What he says instead is that we cannot pretend that technological progress grows on trees. He says that we need to address the obstacles to technological change which are thwarting the potential for a better future.

    All of that seems correct.

    The vision Jim Bennett and I depict in America 3.0 is one in which the excessive regulatory obstacles to technological progress, capital formation, and new business formation have been greatly reduced. Under that scenario, much of the halted progress in the world of “stuff” should resume. This is particularly the case because, as Gilder correctly notes, the extraordinary advances in computing power will enhance the potential of all of these areas. The potential for rapid development, leading to rapid economic growth and rising living standards, is within our reach. It is being held back by political and regulatory obstacles, not technical or scientific ones.

    That has to change. But, it might not. Nothing is inevitable.

    It is up to us to make it happen.

    I have not yet read Thiel’s new book Zero to One: Notes on Startups, or How to Build the Future. It is en route from Amazon as I type this, however. Here is the web page for the book.

    Posted in America 3.0, Book Notes, Business, Tech | 8 Comments »

    “Culture Mapping” Essay by Jonathan Fletcher Applies Emmanuel Todd’s Analysis, Reaches Conclusions Consistent with America 3.0

    Posted by Lexington Green on 22nd September 2014 (All posts by )

    Jonathan Fletcher

    I strongly recommend that you read the excellent essay Culture-mapping: A framework for understanding international B2b decision-making, by Jonathan Fletcher who is the Group Managing Director of Illuminas. Mr. Fletcher’s expertise lies in part in “analysing and interpreting market research data.”

    In his paper Mr. Fletcher presents “a framework for understanding decision-making in different business cultures that will enable B2b researchers confronted with a new market to ask the right questions quickly and not waste time and money looking in the wrong places for the wrong things.” Mr. Fletcher finds that culture is “the hidden dimension” which has a “significant influence on economic and industrial behaviour and performance, but a large part of culture is implicit, unconscious and hidden from direct view.”

    Read the rest of this entry »

    Posted in America 3.0, Anglosphere, Arts & Letters, Book Notes, Business, History, Society, USA | 4 Comments »

    Worthwhile Reading & Viewing

    Posted by David Foster on 21st September 2014 (All posts by )

    Some great spiderweb pictures

    Glacier National Park pictures from D L Sly, who writes at Villainous Company

    High school principal bans Chik-fil-A at Booster Club events.  She justifies her decision on grounds of “inclusivity and diversity.”  Well, I guess that could be one translation of the German term Gleichschaltung.

    SWAT team raid on barbershop rebuked by appeals court

    Wishful science:  “if there’s little incentive to publish negative results, whatever reigning paradigm is operating in a given field will be very resistant to change”

    Years ago, Arthur Koestler asserted that human beings are basically crazy and that maybe it would be possible to develop a sanity-improving drug and put it in everyone’s drinking water.  I was reminded of Koestler’s suggestion by this:  Should we all take a bit of lithium?

    Avoiding managerial groupthink with the right kind of diversity

    People succeed where systems fail

    Arguing with Leftists:  How narratives trump everything

    Making subway cars in Yonkers:  a photo essay

    Posted in Business, Civil Liberties, Education, Human Behavior, Law Enforcement, Leftism, Management, Photos | 6 Comments »

    Sign of a New Peak for Stocks?

    Posted by Carl from Chicago on 20th September 2014 (All posts by )

    Back in the woeful years of the dot.com boom and bust I worked for a company with a dubious distinction. The value of that company in the stock market was less than the value of the cash we had on our books. What the market was essentially saying is that the sum total of all our efforts as employees was NEGATIVE – we would be worth more if we just shut down immediately and gave back the cash to investors. The fate of that company, of course, was to go bankrupt.

    Today there are some other major signs of froth in the market. Yahoo is a classic web / advertising / technology stock with a solid market capitalization of $40 billion. Yahoo’s CEO, Marissa Mayer, was a Google alumna and has been receiving a lot of press for her intelligence and drive to change the company, as well as her good looks.

    Screen Shot 2014-09-20 at 8.43.59 AM

    However, all is not as it seems.  The primary value for Yahoo isn’t its online advertising, email, or users – it is the stakes that they amassed in the hot Chinese e commerce company Alibaba (NYSE: BABA) and also Yahoo Japan.  In fact, the value of Yahoo is less than the value of these stakes, which are approximately $45B, partially due to the reason listed in this Bloomberg article:

    While the market value is large for Yahoo’s Asian assets, that doesn’t necessarily reflect the value available to investors and the company because of taxes, said Ben Schachter, an analyst at Macquarie Securities USA Inc. Yahoo, which would have made $8.3 billion by selling Alibaba shares at the IPO, only reaped around $5.1 billion after taxes.

    Taxes are ‘‘one of the big issues,” Schachter said.

    While it is true that $45B in investment value isn’t worth $45B because of the after-tax implications, it certainly implies that the market isn’t valuing Yahoo at very much at all.  It is also possible that the market thinks that Alibaba is over-valued at its current price of near $100 (after a huge run-up from its IPO price of $68, another huge sign of froth in the market) but the two stocks will generally track closely together now.  Yahoo is sort of a broken “tracking stock” for this value.
    Read the rest of this entry »

    Posted in Business, Economics & Finance | 7 Comments »