When It's All in the Family

Books Worth Reading

February / March 2009 By: Rolf Dobelli Volume 7 Number 1

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Family, Inc.

Imagine the conflict, arguments and drama around almost every Thanksgiving dinner table, then imagine them played out around a conference table and you'll see the issues that arise in family firms. Emotional, volatile relationships can erode even the most solid of businesses. Larry and Laura Colin, who worked together in a family company before it was sold, use their first-hand experiences to show you how to avoid sacrificing your relationships on the altar of the family firm and vice versa. They look at the characters that populate many family firms, including "Dad the Decider," "The Hard-Charging Son" and "Mr. & Mrs. Inc." Although their insights are just one step beyond common sense, at least you don't need a business degree to understand the conversational and personable text. getAbstract recommends this to readers who must practice nepotism as an art form, working with bosses, colleagues and employees who are also close-knit kin.

Larry and Laura Colin. Family, Inc.: How to Manage Parents, Siblings, Spouses, Children, and In-Laws in the Family Business. Career Press, 2008. List Price: $14.99. ISBN-13: 978-1564149855.

5 Future Strategies You Need Right Now

This is a slender but useful little book. Early in it, George Stalk notes accurately that all too often, the media announce the next big thing long after cutting-edge companies have learned about the change, dealt with it and moved on to the next big innovation. High-profile stories end up trailing real change, rather than actually reporting it as it happens. If you're trying to plan for change by following the mass media, you're going to be left behind. This leaves Stalk with a difficult challenge: to address key changes that are emerging just now as they develop. The result is a bit uneven; the text is speculative at times, and his desire to write a brief treatment means that he skims some areas. But that said, this is a more specific and applicable treatment of the future than most books present, and getAbstract recommends it to anyone planning realistically for change.

George Stalk. 5 Future Strategies You Need Right Now: Memo to the CEO. Harvard Business Press, 2008. List Price: $18.00. ISBN-13: 9781422121269.

The Little Book of Bull Moves in Bear Markets

Author Peter D. Schiff explains how he positioned his clients when he saw the current bear market coming, and warns you about what he sees as the imminent collapse of the U.S. dollar and the U.S. economy. He recommends that readers get their money out of the U.S. market, invest abroad, and even consider emigrating altogether and opening a business in a BRIC country (Brazil, Russia, India and China). Schiff elaborates on the risk of living in an American city "with an inner-city population." This short book full of breathlessly long sentences explains Schiff's end-of-life-as-we-know-it investment philosophy, including why he thinks that playing the commodities markets by investing in futures is safer and sounder than trusting the U.S. government and financial structure. getAbstract recommends his book to readers who want to hear every point of view about the U.S. economy, including the very worst-case scenario. And even if the worst is occurring, says Schiff, you still have some investment options.

Peter D. Schiff. The Little Book of Bull Moves in Bear Markets: How to Keep Your Portfolio Up When the Market is Down. John Wiley & Sons, 2008. List Price: $19.95. ISBN-13: 9780470383780.

Rolf Dobelli is president of getAbstract, a the leading provider of business book summaries. www.getabstract.com