This penetrating interview with dominant financial philosopher and philanthropist Soros (Underwriting Democracy, 1991, etc.) is unfortunately hindered by repetition, obscurity, and occasionally forced contrariness. A book of conversations with a successful investor automatically suggests the Market Wizards collection, the seminal pair of books containing interviews with financiers who fit the title. Like those works, Soros on Soros sinks or swims with the ability of its subject to shed light on the methods that have made him the second most successful money manager in history (after Warren Buffett). The reflective and talkative Soros provides three interviews. The first, conducted by investment strategist and Soros friend Wien, concentrates on the Hungarian immigrant's upbringing and investment style. Hungarian journalist Koenen poses the questions in the second interview, which explores Soros's philanthropic efforts and global political interests. The final interview, again by Wien, delves more deeply into Soros's philosophy as it informs his life outside of investing. Untangling the man's uniquely philosophical approach to market prognostication, the first section is by far the most tantalizing. Since 1969, Soros has managed the Quantum Fund, the superior precursor to today's hedge funds, which, by employing a greater deal of leverage than most funds dare, has grown at a pace that would have turned a $1,000 investment in 1969 into over $2 million today. Soros is perhaps best known for Quantum's attack on the British pound in 1992, a maneuver that netted Quantum shareholders over $2 billion but is viewed with hostility by many who fear the trader's power. The play-by-play of this wrangle and others best grabs the attention of readers not intimidated by concepts such as derivatives and currency speculation. Call it messianic or ballsy, there's a courage to this interviewee that makes for both an educational and entertaining read, though one dampened by the constraints of the question-and- answer format. (First serial to Fortune Magazine; $250,000 ad/promo)
Pub Date: Sept. 19, 1995
ISBN: 0-471-12014-6
Page Count: 321
Publisher: Wiley
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: Aug. 1, 1995
BOOK REVIEW
BOOK REVIEW
A scholar's lively account of how White Castle, now a largely overlooked but still profitable also-ran in the domestic restaurant trade, made the once-scorned hamburger a US institution and launched the fast-food industry. Drawing on a variety of sources, historian Hogan (Heidelberg Coll.) first reviews the ethnic and regional character of America's food preferences prior to the 1920s. He goes on to document the accomplishments of the two men who founded White Castle late in 1921 in Wichita, Kans.: Walt Anderson, inventor of the hamburger, and Billy Ingram, whose marketing genius helped make Anderson's creation a staple of American diets. On the strength of standardization, quality control, a commitment to cleanliness, and conservative financial practices, they soon had a lucrative national network of faux-citadel outlets vending tiny ground-meat patties served with an abundance of pungent onions on diminutive buns for a nickel apiece; enjoining customers to ``buy em by the sack,'' the partners also pioneered the take-out business. Although it survived the Great Depression in fine style, White Castle was hard hit by WW II's home-front price controls, shortages, and restrictions. Having staggered through the 1940s, however, the company retained its fanatically loyal clientele in the cities while formidable new rivals (Big Boy, Gino's, Hardee's, Howard Johnson, McDonald's, et al.) preempted fast-growing suburban markets. Although no longer a leader in the field of franchising giants it helped create, White Tower occupies a rewarding niche that, thanks to effective management practices, promises to provide worthwhile returns for years to come. Informed and engaging perspectives on an often ignored aspect of cultural and commercial Americana. The 20 illustrations include contemporary photos of White Castle outlets and the company's early advertisements.
Pub Date: Dec. 15, 1997
ISBN: 0-8147-3566-5
Page Count: 230
Publisher: New York Univ.
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: Sept. 15, 1997
Ashworth (The Late, Great Lakes, 1986) makes a plausible if not wholly credible case for the offbeat proposition that ecology and economics, in concert, could provide the best response to both the escalating cost of living and a decline in the quality of life. Noting that the natural and social sciences share a Greek root (oikos, meaning household), the author offers a series of short essays designed to show that environmentalism and for-profit enterprise have much in common. Indeed, he argues, whatever harms or is good for the biosphere injures or benefits the marketplace- -and vice versa. Along similarly pragmatic lines, Ashworth suggests that ravaging the planet and its resources is a fiscally irresponsible act akin to eating one's seed corn—or dipping into capital. To persuade the friends of earth and the friends of industry that their differences are not irreconcilable, Ashworth gets back to genuine basics. Cases in point include short takes on Econ 101 fundamentals like carrying capacity, fund flows, and the forces of supply and demand, whose relevance to the rain forests may come as news to diehard preservationists. By the same token, his low-key briefings on renewable resources and monocultures could prove thought-provoking for those who believe that protection of endangered species and old-growth timber invariably costs society too much in terms of jobs and economic growth. As for why ecologic theory is more congruent with economic theory than antithetical to it, Ashworth's explanations are unexceptionable. But theory is one thing, practice another. In failing to detail how the paradigmatic synthesis could be made to work, the author lacks the courage of his arresting convictions. It's not easy being green, and Ashworth's accommodation agenda may remind some readers of the possibly apocryphal tale about the UN functionary who opined that Arabs and Jews should sit down and settle their differences like good Christians.
Pub Date: Jan. 9, 1995
ISBN: 0-395-65566-8
Page Count: 320
Publisher: Houghton Mifflin
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: Nov. 15, 1994
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