Dream and Believe

Pour accomplir de grandes choses il ne suffit pas d’agir il faut rêver; il ne suffit pas de calculer, il faut croire. To accomplish great things we must not only act, but also dream; not only plan, but also believe. — Anatole France from Discours de réception, Séance De L’académie Française (introductory speech at a …

“Practicing economies that may not deserve the name”

The New York Times has an interesting article on otherwise smart people spending dollars to save pennies: All around the country, at similar cosmic moments, perfectly sound brains have been seizing up like an old car on a frigid day, particularly in the last few weeks. As Americans attempt to perform cost-benefit analyses of their …

Compare and Contrast: Universities and Banks

A macroeconomist once told me that the two institutions with the longest investment horizons were university endowments and the Vatican. From Kevin Davis at Bull City Rising, an interesting intro to his article on what the Citi buyout of Wachovia may mean to Charlotte: Try to imagine, if you will, how it would feel to …

Satchel Paige and Zero Based Budgeting

How old would you be if you didn’t know how old you were? — Satchel Paige It may seem strange, but Paige’s quote made me think of zero-based budgeting: creating each year’s budget from scratch instead of making incremental changes to last year’s budget.  More importantly, it reminds me to ask on occasion, “Never mind …

Credible Testimonials Don’t Make Promises They Can’t Keep

“You will be thrilled if you hire ABC Corp.” “If you work with the marketing team at XYZ management, you’re guaranteed to see better revenues.” “Clare is the best graphic designer in Phoenix, hands down.” Testimonials from enthusiastic fans are great.  But when they say things they can’t back up, they lose credibility. If your …