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Springer Handbook of Power Systems (Springer Handbooks)
by Konstantin O. PapailiouThis handbook offers a comprehensive source for electrical power professionals. It covers all elementary topics related to the design, development, operation and management of power systems, and provides an insight from worldwide key players in the electrical power systems industry.Edited by a renowned leader and expert in Power Systems, the book highlights international professionals’ longstanding experiences and addresses the requirements of practitioners but also of newcomers in this field in finding a solution for their problems.The structure of the book follows the physical structure of the power system from the fundamentals through components and equipment to the overall system. In addition the handbook covers certain horizontal matters, for example "Energy fundamentals", "High voltage engineering", and "High current and contact technology" and thus intends to become the major one-stop reference for all issues related to the electrical power system.
Springer Handbook of Science and Technology Indicators (Springer Handbooks)
by Wolfgang Glänzel Henk F. Moed Ulrich Schmoch Mike ThelwallThis handbook presents the state of the art of quantitative methods and models to understand and assess the science and technology system. Focusing on various aspects of the development and application of indicators derived from data on scholarly publications, patents and electronic communications, the individual chapters, written by leading experts, discuss theoretical and methodological issues, illustrate applications, highlight their policy context and relevance, and point to future research directions.A substantial portion of the book is dedicated to detailed descriptions and analyses of data sources, presenting both traditional and advanced approaches. It addresses the main bibliographic metrics and indexes, such as the journal impact factor and the h-index, as well as altmetric and webometric indicators and science mapping techniques on different levels of aggregation and in the context of their value for the assessment of research performance as well as their impact on research policy and society. It also presents and critically discusses various national research evaluation systems.Complementing the sections reflecting on the science system, the technology section includes multiple chapters that explain different aspects of patent statistics, patent classification and database search methods to retrieve patent-related information. In addition, it examines the relevance of trademarks and standards as additional technological indicators.The Springer Handbook of Science and Technology Indicators is an invaluable resource for practitioners, scientists and policy makers wanting a systematic and thorough analysis of the potential and limitations of the various approaches to assess research and research performance.
Springfield Hospital
by Robert S. Kaplan Susanna GallaniOne of the key roles of costing systems is to support the evaluation of performance and facilitate appropriate resource allocations. Through participation in a comparative cost study, management at Springfield Hospital, known for its heavy focus on operational excellence, become aware of opportunities for further improvement. Analysis of the differences in costs, uses, and allocations of resources will inform management in the decision and implementation of strategic plans. This case stimulates reflections on the importance of costing systems, in particular Time-Driven Activity Based Costing, and variance analysis as decision support mechanisms.
The Springfield Nor'easters: Maximizing Revenues in the Minor Leagues
by Christopher H. Lovelock Frank V. Cespedes Laura WinigThe marketing director of a new minor-league baseball team must design, conduct, and then interpret survey research to determine optimal ticket pricing that will yield large attendance figures and contribute to the owner's goal of breaking even in the first year of play. The pricing assignment becomes more challenging when other variables like concessions revenue are considered. Students are asked to complete a quantitative assignment as part of case analysis, but they must grapple with less quantifiable factors as well.
The Springs of Namje: A Ten-Year Journey from the Villages of Nepal to the Halls of Congress
by Rajeev GoyalA Peace Corps volunteer's inspirational story about the power of small change In 2001, Peace Corps volunteer Rajeev Goyal was sent to Namje, a remote village in the eastern hills of Nepal. Brimming with idealism, he expected to find people living in conditions of misery and suffering; instead, he discovered a village full of happy, compassionate people. After organizing the villagers to build a water-pumping system in the midst of the dangerous Maoist war that had gripped the country, Goyal learned how complex rural development truly is. He also witnessed how the seemingly lowliest villager can hold profound power to influence not only his or her own village but also the highest rungs of government. Years after this experience, Goyal applied the lessons he learned in Namje to his work on Capitol Hill. Approaching Congress as if it were a Nepalese caste system, Goyal led a grassroots campaign to double the size of the Peace Corps. His unique approach to advocacy included strategically positioning himself outside the men's room of the capitol building waiting for lawmakers to walk out. As a result of his determined bird-dogging, Goyal managed to make allies of more than a hundred members of Congress and in the process, he ruffled the feathers of some of the most powerful figures in Washington. But due to his efforts, the Peace Corps was granted a $60-million increase in funding, the largest dollar-amount increase in the organizations history. On this path to victory Goyal endured a number of missteps along the way, and, as he reveals, his idealism at times faded into fear, anger, and frustration. In this honest and inspirational account of his life as an activist, Goyal offers daring ideas for how the Peace Corps and other organizations can be even more relevant to our rapidly changing world. He urges environmentalists, educators, farmers, artists, and designers to come together and contribute their talents. Filled with history, international politics, personal anecdotes, and colorful characters, The Springs of Namje is a unique and inspiring book about the power of small change.From the Hardcover edition.
Sprint: How to Solve Big Problems and Test New Ideas in Just Five Days
by Jake Knapp John Zeratsky Braden KowitzFrom inside Google Ventures, a unique five-day process for solving tough problems, proven at thousands of companies in mobile, e-commerce, healthcare, finance, and more.Entrepreneurs and leaders face big questions every day: What&’s the most important place to focus your effort, and how do you start? What will your idea look like in real life? How many meetings and discussions does it take before you can be sure you have the right solution?Now there&’s a surefire way to answer these important questions: the Design Sprint, created at Google by Jake Knapp. This method is like fast-forwarding into the future, so you can see how customers react before you invest all the time and expense of creating your new product, service, or campaign.In a Design Sprint, you take a small team, clear your schedules for a week, and rapidly progress from problem, to prototype, to tested solution using the step-by-step five-day process in this book.A practical guide to answering critical business questions, Sprint is a book for teams of any size, from small startups to Fortune 100s, from teachers to nonprofits. It can replace the old office defaults with a smarter, more respectful, and more effective way of solving problems that brings out the best contributions of everyone on the team—and helps you spend your time on work that really matters.
Sprint: El método para resolver problemas y testar nuevas ideas en solo 5 días
by Braden Kowitz John Zeratsky Jake KnappCreado por Jake Knapp, John Zeratsky y Braden Kowitz, tres socios de Google Ventures, SPRINT es un método único e infalible de 5 días para solventar problemas empresariales complicados y conseguir que la viabilidad de un proyecto se implante rápidamente. Probado con éxito en más de 100 ocasiones. Tanto los emprendedores como los directivos tienen que enfrentarse todos los días a dilemas importantes: ¿Dónde hay que poner las prioridades y por dónde hay que empezar?, ¿cuántas reuniones son necesarias para dar con la solución más adecuada? Ahora ya disponemos de un método seguro para responder a estas cuestiones cruciales: el Sprint. El diseñador Jake Knapp creó este proceso de cinco días en Google, donde los sprints se empleaban para todo tipo de proyectos, desde el Google Search hasta Google X. En Google Ventures empezó a trabajar con Braden Kowitz y John Zeratsky y los tres han conducido más de cien sprints con empresas del sector de la telefonía móvil, del comercio electrónico, la sanidad, las finanzas y otros. Como guía práctica para resolver importantes problemas empresariales, Sprint puede resultar muy útil para todo tipo de equipos de cualquier dimensión, desde pequeñas startups hasta grandes empresas multinacionales, desde equipos de profesores a empresas sin ánimo de lucro. Se trata de un libro para cualquiera con una oportunidad, idea o problema que necesite una respuesta rápida. La opinión de los expertos:«Lea este libro y siga sus consejos si quiere desarrollar productos mejores y más deprisa.»Ev Williams, fundador de Medium y Twitter «Sprint ofrece una fórmula transformadora para testar ideas, muy útil tanto si se aplica a una startup como a cualquier gran organización. En tan solo cinco días, podremos pasar de una idea inicial al prototipoy la decisión final ahorrándonos un montón de horas y dinero. Una lectura obligatoria para emprendedores de cualquier tipo.»Eric Ries, autor de El método Lean Startup «Todos los directivos que conozco están preocupados por lo mismo: ¿Nos estamos moviendo lo suficientemente rápido? Sprint nos ofrece un método paso a paso para resolver problemas de envergadura y avanzar en lo que realmente importa con rapidez. Un sprint es la cura para los males de la empresas en un mundo que va cada día más rápido.»Beth Comstock, vice-presidenta de General Electric
Sprintegration® - An Agile Framework for M&A Integration (BestMasters)
by Moritz MillerThe aim of this strategic business consultancy project was the development of an applicable project management framework for sustainably successful M&A integration. Although M&As have been undertaken for decades throughout all industries, the reported high failure rates of M&A cases demonstrate the relevance of this topic and the need to create practical solutions. Therefore, this research aimed to answer the following central research question: How can a project management approach lead to a sustainably successful post-merger integration within an international real estate enterprise? The synthesis of findings from secondary and primary data led to the creation of an agile project management framework including the detailed elaboration of roles, routines, methods and tools. The framework Sprintegration® demonstrates the importance of holistic approaches including functional, operational and cultural integration, embedded in an agile system, which enables all involved stakeholders to consciously deal with the high complexity of M&As as the process of combining two previously separate companies and social systems.
Sprout: Everything I Need to Know about Sales I Learned from My Garden
by Alan Vengel Greg WrightSprout! is about sustaining a successful career in sales, and keeping it both fun and profitable.
Sprout!
by Alan Vengel Greg WrightWritten by two experienced salesmen who have built successful careers while keeping both fun and profitability front and center, "Sprout! combines practical wisdom with a clever gardening analogy to provide an easy-to-implement model for success. Working with thousands of successful salespeople in all different stages of their careers, the authors are well-suited to address the symptoms of and solutions to premature job burnout. By following the book's simple garden metaphor, and adhering to the user-friendly steps outlined, salespeople can beat the career blues and sustain themselves for the long term, regaining their passion for sales in the process. "Sprout!'s formula also enables organizations to better retain precious talent, thus creating a healthy sales framework--and healthy sales professionals--throughout the inevitable ups and downs of a long-term selling career.
An SPSS Guide for Tourism, Hospitality and Events Researchers
by Rahul Pratap Singh Kaurav Dogan Gursoy Nimit ChowdharyThis is the first book to provide the student of tourism, hospitality and events with all that they need to undertake statistical analysis using SPSS for research in their industry. Employing examples directly from the tourism, hospitality and events sector, it provides a comprehensive explanation on how appropriate statistical tools and methods can be identified for this research context and provides a step-by-step demonstration on how to carry out the chosen statistical operations. Each chapter opens with a sector-specific case study reflecting current research trends and issues from a range of different countries that are affecting the industry today. It is followed by an examination of the SPSS procedures relating to the case study and various solutions are offered. The implementation of clear, step-by-step demonstrations on how to carry out statistical operations using a combination of screenshots, diagrams, and tables aids the reader’s understanding. Chapters close with thorough guidance on how to appropriately write up interpretations of the research in a report. Research implications and recommendations for tourism and hospitality businesses are also provided, to enable them to successfully create and manage research strategies in action. Adopting an interdisciplinary perspective and written by a range of industry experts from all over the globe, this book will be essential for all students and researchers in the field of tourism, hospitality, and events as well as all those in related fields with an interest in statistical data analysis.
SPSS Statistics For Dummies
by Jesus Salcedo Keith McCormickThe fun and friendly guide to mastering IBM’s Statistical Package for the Social Sciences Written by an author team with a combined 45 years of experience using SPSS, this updated guide takes the guesswork out of the subject and helps you get the most out of using the leader in predictive analysis. Covering the latest release and updates to SPSS 25.0, and including over 100 pages of basic statistical theory, it helps you understand the mechanics behind the calculations, perform predictive analysis, produce informative graphs, and more. You’ll even dabble in programming as you expand SPSS functionality to suit your specific needs. Master the fundamental mechanics of SPSS Learn how to get data into and out of the program Graph and analyze your data more accurately and efficiently Program SPSS with Command Syntax, Python, and scripts Get ready to start handling data like a pro—with step-by-step instruction and expert advice!
SpudSpy
by Lee Fleming Daniel C. SnowStudents in a technology transfer class identify a promising application for a dormant university technology. In the process, they alienate the inventor, who threatens legal action. What exactly are the problems, and how should the professor teaching the class proceed?
Spurious Economy for All
by Claudio Pardo MolinaMany modern leaders want to install into the common sense of the masses that economics is bad because economics is synonymous with capitalism. And they do it through countless spurious examples that I will be giving throughout this book. I will use the term Spurious thinking of synonyms such as illegitimate, adulterated, counterfeit, imitated, fraudulent and false. And these spurious examples are given when they explain economic problems with a part of the whole theory because the only purpose is to discredit this social science. Because as mothers and grandmothers tell us as children "A half truth is also a lie."
Spy: The Inside Story of How the FBI's Robert Hanssen Betrayed America
by David WiseThe book narrates the full, authoritative story of how FBI agent Robert Hanssen, code name grayday, spied for Russia for twenty-two years in what has been called the "worst intelligence disaster in U.S. history"-and how he was finally caught in an incredible gambit by U.S. intelligence.
Spy Capitalism: Itek and the CIA
by Jonathan E. LewisWhat happens when the world of venture capital collides with the world of espionage? To find the answer, Jonathan E. Lewis takes us inside the executive suite at Itek Corporation during the Cold War years from 1957 to 1965. Itek was manufacturing the world's most sophisticated satellite reconnaissance cameras, and the information these cameras provided about Soviet missiles and military activity was critical to U. S. security. So was Itek. This intriguing book examines in unprecedented detail the challenges Itek faced not only as a contractor for the most important national security program of the time - the CIA's Project CORONA spy satellite - but also as a start-up company competing with established industrial giants. In telling the story of Itek Corporation Lewis fills important gaps in the history of American intelligence, business history, and management studies. --BOOK JACKET. Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
Spyder Active Sports--2004
by Belen Villalonga Dwight B. CraneDavid Jacobs founded a high-end ski apparel company in 1978. He successfully built and grew the company, establishing a major international brand that appealed to ski racers and other active skiers. In 1995, he sought external financing to support further growth of the company and structured a financial deal with CHB Capital Partners, a private equity firm in Denver. By 2004, Jacobs was ready to consider alternative types of equity transactions that would provide a source of liquidity to him and his family, including sale of Spyder to another apparel company and sale of a large block of stock to a private equity firm. Poses issues of valuation of a privately owned company and presents alternative ways to harvest wealth from a private company. Also brings up family business issues because the transaction would have a significant effect on two of his children who are involved in the business.
SQL and Relational Theory: How to Write Accurate SQL Code
by C. J. DateSQL is full of difficulties and traps for the unwary. You can avoid them if you understand relational theory, but only if you know how to put that theory into practice. In this book, Chris Date explains relational theory in depth, and demonstrates through numerous examples and exercises how you can apply it to your use of SQL.This third edition has been revised, extended, and improved throughout. Topics whose treatment has been expanded include data types and domains, table comparisons, image relations, aggregate operators and summarization, view updating, and subqueries. A special feature of this edition is a new appendix on NoSQL and relational theory.Could you write an SQL query to find employees who have worked at least once in every programming department in the company? And be sure it’s correct?Why is proper column naming so important?Nulls in the database cause wrong answers. Why? What you can do about it?How can image relations help you formulate complex SQL queries?SQL supports "quantified comparisons," but they’re better avoided. Why? And how?Database theory and practice have evolved considerably since Codd first defined the relational model, back in 1969. This book draws on decades of experience to present the most up to date treatment of the material available anywhere. Anyone with a modest to advanced background in SQL can benefit from the insights it contains. The book is product independent.
SQL & NoSQL Databases: Models, Languages, Consistency Options and Architectures for Big Data Management
by Andreas Meier Michael KaufmannThis book offers a comprehensive introduction to relational (SQL) and non-relational (NoSQL) databases. The authors thoroughly review the current state of database tools and techniques, and examine coming innovations. The book opens with a broad look at data management, including an overview of information systems and databases, and an explanation of contemporary database types:SQL and NoSQL databases, and their respective management systemsThe nature and uses of Big DataA high-level view of the organization of data management Data Modeling and Consistency Chapter-length treatment is afforded Data Modeling in both relational and graph databases, including enterprise-wide data architecture, and formulas for database design. Coverage of languages extends from an overview of operators, to SQL and and QBE (Query by Example), to integrity constraints and more. A full chapter probes the challenges of Ensuring Data Consistency, covering:Multi-User OperationTroubleshootingConsistency in Massive Distributed DataComparison of the ACID and BASE consistency models, and more System Architecture also gets from its own chapter, which explores Processing of Homogeneous and Heterogeneous Data; Storage and Access Structures; Multi-dimensional Data Structures and Parallel Processing with MapReduce, among other topics. Post-Relational and NoSQL Databases The chapter on post-relational databases discusses the limits of SQL – and what lies beyond, including Multi-Dimensional Databases, Knowledge Bases and and Fuzzy Databases. A final chapter covers NoSQL Databases, along withDevelopment of Non-Relational Technologies,Key-Value, Column-Family and Document StoresXML Databases and Graphic Databases, and more The book includes more than 100 tables, examples and illustrations, and each chapter offers a list of resources for further reading. SQL & NoSQL Databases conveys the strengths and weaknesses of relational and non-relational approaches, and shows how to undertake development for big data applications. The book benefits readers including students and practitioners working across the broad field of applied information technology.This textbook has been recommended and developed for university courses in Germany, Austria and Switzerland.
SQL- & NoSQL-Datenbanken: 9. erweiterte und aktualisierte Auflage
by Michael Kaufmann Andreas MeierDie Autoren führen in relationale (SQL) und nicht-relationale (NoSQL) Datenbanken ein. Die 9. Auflage erklärt die drei Typen relationale Datenbanken, Graphdatenbanken und Dokumentdatenbanken im Detail anhand der Themen Datenbankmanagement, Datenbankmodellierung, Datenbanksprachen, Datenbanksicherheit und Systemarchitektur. Das Buch bietet außerdem einen Überblick auf postrelationale und nicht-relationale Datenbanksysteme.In den ersten fünf Kapiteln analysieren die Autoren detailliert die Verwaltung, Modellierung, Sprachen, Sicherheit und Architektur von relationalen Datenbanken, Graphdatenbanken und Dokumentendatenbanken. Außerdem wird ein Überblick über andere SQL- und NoSQL-basierte Datenbankansätze gegeben. Neben klassischen Konzepten wie dem Entitäts- und Beziehungsmodell und seiner Abbildung in SQL-Datenbankschemata, Abfragesprachen oder dem Transaktionsmanagement werden weitere Aspekte für NoSQL-Datenbanken wie nicht-relationale Datenbankschemas und Abfragesprachen (MQL, Cypher), das Map/Reduce-Verfahren, Verteilungsoptionen (Sharding, Replikation) oder das CAP-Theorem (Consistency, Availability, Partition Tolerance) erläutert.Die 9. Auflage bietet neu eine vertiefte Einführung in Dokumentdatenbanken mit einer Methode zur Modellierung von Dokumentstrukturen, einem Überblick auf dokumentenorientierte Datenbanksprache MongoDB Query Language MQL sowie Sicherheits- und Architekturaspekte. Die neue Auflage berücksichtigt neue Entwicklungen der Sprache Cypher. Das Thema Datenbanksicherheit wird neu als eigenes Kapitel eingeführt und im Detail bezüglich Datenschutz, Integrität und Transaktionen analysiert. Texte zum Datenmanagement, zur Datenbankprogrammierung und zum Data Warehouse wurden aktualisiert. Zudem erklärt die 9. Auflage die Konzepte JSON, JSON-Schema, BSON, indexfreie Nachbarschaft, Cloud-Datenbanken, Suchmaschinen und Zeitreihendatenbanken.Eine Webseite ergänzt den Inhalt des Buches durch Tutorien für Abfrage- und Manipulationssprachen (SQL, Cypher), Übungsumgebungen für Datenbanken (MySQL, Neo4j), zwei Fallstudien mit OpenOffice Base und Neo4j sowie als Unterrichtsmaterial Folienvorlagen mit allen Abbildungen Das Buch richtet sich sowohl an Studierende, die eine Einführung in das Gebiet der SQL- und NoSQL-Datenbanken möchten, als auch auch an Praktiker in Datenwissenschaften und Informatik, denen es hilft, Stärken und Schwächen relationaler und nicht-relationaler Ansätze sowie Entwicklungen für Big-Data-Anwendungen besser einschätzen zu können
SQL Server 2012 Reporting Services Blueprints
by Marlon Ribunal Mickey StueweFollow the fictional John Kirkland through a series of real-world reporting challenges based on actual business conditions. Use his detailed blueprints to develop your own reports for every requirement.This book is for report developers, data analysts, and database administrators struggling to master the complex world of effective reporting in SQL Server 2012. Knowledge of how data sources and data sets work will greatly help readers to speed through the tutorials.
SQL Server Integration Services Design Patterns
by Andy Leonard Tim Mitchell Matt Masson Jessica Moss Michelle UffordSQL Server Integration Services Design Patterns is newly-revised for SQL Server 2014, and is a book of recipes for SQL Server Integration Services (SSIS). Design patterns in the book help to solve common problems encountered when developing data integration solutions. The patterns and solution examples in the book increase your efficiency as an SSIS developer, because you do not have to design and code from scratch with each new problem you face. The book's team of expert authors take you through numerous design patterns that you'll soon be using every day, providing the thought process and technical details needed to support their solutions. SQL Server Integration Services Design Patterns goes beyond the surface of the immediate problems to be solved, delving into why particular problems should be solved in certain ways. You'll learn more about SSIS as a result, and you'll learn by practical example. Where appropriate, the book provides examples of alternative patterns and discusses when and where they should be used. Highlights of the book include sections on ETL Instrumentation, SSIS Frameworks, Business Intelligence Markup Language, and Dependency Services. Takes you through solutions to common data integration challengesProvides examples involving Business Intelligence Markup LanguageTeaches SSIS using practical examples
SQL Server MVP Deep Dives
by Paul S. Randal Kimberly Tripp Adam Machanic Paul NielsenThis is not an ordinary SQL Server Book. SQL Server MVP Deep Dives brings together the world's most highly-regarded SQL Server experts to create a masterful collection of tips, techniques, and experience-driven best practices for SQL Server development and administration. These SQL Server MVPs-53 in all-each selected a topic of great interest to them, and in this unique book, they share their knowledge and passion with you.SQL Server MVP Deep Dives is organized into five parts: Design and Architecture, Development, Administration, Performance Tuning and Optimization, and Business Intelligence. Within each part, you'll find a collection of brilliantly concise and focused chapters that take on key topics like mobile data strategies, Dynamic Management Views, or query performance. The range of subjects covered is comprehensive, from database design tips to data profiling strategies for BI.Additionally, the authors of this book have generously donated 100% of their royalties to support War Child International. War Child International is a network of independent organizations, working across the world to help children affected by war. War Child was founded upon a fundamental goal: to advance the cause of peace through investing hope in the lives of children caught up in the horrors of war. War Child works in many different conflict areas around the world, helping hundreds of thousands of children every year. Visit www.warchild.org for more information. Purchase of the print book comes with an offer of a free PDF, ePub, and Kindle eBook from Manning. Also available is all code from the book.
The Squam Lake Report: Fixing the Financial System
by Kenneth R. French Martin N. Baily John Y. Campbell John Cochrane Douglas W. Diamond Darrell Duffie Anil K. Kashyap Frederic S. Mishkin Raghuram G. Rajan David S. Scharfstein Robert J. Shiller Hyun Song Shin Matthew J. Slaughter Jeremy C. Stein René M. StulzA nonpartisan plan of action for fixing the global economy from fifteen of the world's leading economistsIn the fall of 2008, fifteen of the world's leading economists—representing the broadest spectrum of economic opinion—gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.The Squam Lake Report distills the wealth of insights from the ongoing collaboration that began at these meetings and provides a revelatory, unified, and coherent voice for fixing our troubled and damaged financial markets. As an alternative to the patchwork solutions and ideologically charged proposals that have dominated other discussions, the Squam Lake group sets forth a clear nonpartisan plan of action to transform the regulation of financial markets—not just for the current climate—but for generations to come.Arguing that there has been a conflict between financial institutions and society, these diverse experts present sound and transparent prescriptions to reduce this divide. They look at the critical holes in the existing regulatory framework for handling complex financial institutions, retirement savings, and credit default swaps. They offer ideas for new financial instruments designed to recapitalize banks without burdening taxpayers. To lower the risk that large banks will fail, the authors call for higher capital requirements as well as a systemic regulator who is part of the central bank. They collectively analyze where the financial system has failed, and how these weak points should be overhauled.Combining an immense depth of academic, private sector, and public policy experience, The Squam Lake Report contains urgent recommendations that will positively influence everyone's financial well-being—all who care about the world's economic health need to pay attention.
Squandering Aimlessly
by David BrancaccioPoor, misguided fellow. David Brancaccio, host of public radio's rambunctious and eclectic business program Marketplace, used to think the big problem with money was getting some. Didn't he understand that during a time of bounty the big problem is knowing what to do with money once you have it? It took a conversation with one of the richest guys in America to set him straight. "I think Warren Buffett's got the problem and Gates has the problem and Bloomberg's got the problem," the billionaire said. "And the problem doesn't just have to be at our level. It can be with people who have just a couple of million bucks." It was the second "just" in that sentence that made tears well up in Brancaccio's eyes. Most of us once thought the problem was getting some money. Now what? Squander: to spend or use something precious in a wasteful way. Squandering ranks even below "leaving it in a passbook savings account" on the list of the greatest personal finance sins of our age, according to Brancaccio, who hit the road to determine the right answer to the question of what to do with money. Brancaccio gets this question from Marketplace listeners all the time: What does one do with a lump sum, perhaps the proceeds from some stock options, the profit on the sale of a house, an inheritance, a bonus, a settlement, or even a modest accumulation in a savings account? A natural storyteller, Brancaccio has a clear, intelligent, and delightfully offbeat way of explaining to his listeners the complexities of business, investing, and the economy. He has access to rivers of market information that should help answer this question of what to do with money. But data do not necessarily equal wisdom, so Brancaccio hit upon the idea of venturing out on a random "walk" to acquire some street smarts. Imagining a windfall of his own and haunted by his own checkered history with money, Brancaccio embarked on a funny and irreverent personal finance pilgrimage. His travels took him from Minnesota's Mall of America to New York City's Wall Street to one of the poorest towns in the West. He encountered entrepreneurs in California, homeowners in New York, retirees in Arizona, and some folks following their lifelong dreams in Texas. A drifter in a desert offered advice. So did a U.S. secretary of the treasury. Along the way, Brancaccio was challenged by a cascade of practical and philosophical issues: If consumption drives the economy, is there something wrong with saving? Is there such a thing as a socially responsible investment? Is charity an investment? If you can't beat a Las Vegas casino, can you beat the stock market? While Brancaccio's journey was a personal one, his eye-opening adventures reveal a great deal about attitudes toward money in America at the dawn of the new century -- and they provide entertaining lessons about how best to spend, invest, and save.