I Love Capitalism – BONUS POST

The Bonus Book of the Week is “I Love Capitalism, An American Story” by Ken Langone, Cofounder of the Home Depot, published in 2018. This is the bragfest of a Wall Streeter, who appears to have bragging rights.

Born in September 1935 in Roslyn Heights, in New York State (on Long Island), Langone caught the entrepreneurial bug early in life. By college, he was selling stationery and neckties.

In the single-digit 2000’s, Langone helped recruit a CEO for Home Depot. In the short term, the CEO greatly improved the numbers that serve as indicators of a company’s financial success. However, the dollar value of the company actually decreased after a few years. His philosophy damaged the corporate culture by violating the company’s philosophical values.

For, the CEO failed to understand that in a customer service business like Home Depot, corporate culture drives the numbers. Employee satisfaction gets the same score as customer service. His replacement “… dressed like a plumber, and he looked like a nerd… [but] he became a rock star to the employees…”

Langone admitted up front that he had mentors and helpers left and right throughout his life. “Some guys who get to be wealthy like to brag about being self-made men. I can’t imagine they’re not leaving somebody out of that equation.” [likely, their daddy.]

Read the book to learn about who assisted Langone in his adventures in capitalism.

Inside the Olympics – BONUS POST

The Bonus Book of the Week is “Inside the Olympics” by Dick Pound, published in 2004. This volume described the trials and tribulations of a Canadian who served in various Olympic capacities, including athlete and governance leader.

As might be recalled, various scandals (relating to the selection of future host countries, illegal doping among athletes, and judging of sports events) plagued the International Olympic Committee (IOC) at the turn of the 21st century.

Pound wordily and repetitively discussed his role in helping participating nations agree on rules banning performance-enhancing drugs, and in helping to establish the complicated financial arrangements needed to be made by broadcast networks and sponsors. For, bureaucracy galore abounded. Each nation has a committee. Nations that don’t fund athletes and their attendant expenses depend on revenues derived from event coverage and advertisers, paid to the IOC and redistributed to those committees. Thus, the IOC tended to be the scapegoat for whatever went wrong with all things Olympic-related.

Olympic hosts are saddled with numerous expenses stemming from having to provide modern athletic facilities and accommodations for about 25,000 people.

Read the book to learn how national pride has miraculously kept the modern Olympic games alive since 1896, despite the bad behavior of power politics that has resulted in injustice, financial losses, ill-gotten gains, and deaths.

Hold On, Mr. President – BONUS POST

The Bonus Book of the Week is “Hold On, Mr. President” by Sam Donaldson, published in 1987. This is the career memoir of an aggressive TV journalist who covered politics.

Donaldson was born in 1934. By his mid-thirties, he had an all-consuming career, working seven days a week for about a year at ABC-TV in Washington D.C. He covered the Democratic National Convention in Chicago in 1968, Vietnam on-location for three months in 1971, the Watergate scandal, and, glutton for punishment that he was– president Jimmy Carter in 1976. He asked hard questions of presidents, especially president Ronald Reagan, on whom he spent a lot of time reporting.

Donaldson felt that Reagan’s unwavering stance on all issues was a liability because it resulted in “thoughtless and false certainty… Deciphering Reagan-speak is a constant in the White House press room… But give Reagan a TelePromTer (sic)… and he can communicate without ambiguity and, in the process, sell you a defense budget that will reduce you to rags or a Nicaragua policy that will curl more than your hair.” Countless erroneous facts and figures emanated from Reagan’s mouth, of which Donaldson provided numerous examples.

In the late 1980’s, Reagan held political rallies whose attendees “… had to apply for tickets from local Republican organizations, and people who were not already true believers, didn’t get them.” Some things never change.

Read the book to learn a wealth of additional details on Donaldson and his generation of TV journalism in Washington, D.C.

The Defense Never Rests – BONUS POST

The  Bonus Book of the Week is “The Defense Never Rests” by F. Lee Bailey with Harvey Aronson, published in 1971. This is the career memoir of a criminal defense attorney best known for the Sam Sheppard and Boston Strangler cases.

Born in 1933, Bailey served in the Marines, and later started practicing law at a firm in Boston. He became a polygraph-test expert, and later argued that test results should have been admissible in all courts. When he started his career in 1961, Massachusetts law still required that in court, a murder suspect be confined to a wire cage.

Read the book to learn of various cases litigated by the author, including those of Sam Sheppard and the Boston Strangler and his own, when he found himself in trouble (not for murder, though). Perhaps that is why he provided no: Notes, Bibliography, Sources, References or Index in this book, although he did provide verbatim excerpts of court transcripts.