The Semester in Review by Books

We're down to the last week. I know all of you have different schedules with your jobs and schools, but I assume you're all near the end of this semester as well. For me, this is literally the last week: Commencement ceremonies begin on Thursday.

We have covered a lot this semester. I'm not financial expert, but we've covered my focus of public finance, and even explored some more traditional financial industry questions. And don't forget those nice videos.

Now, as we wrap up the semester and the year, I wanted to finish with a review of the semester...by books. These are some great educational books on a variety of topics. Again, I'm not the expert--there are tons of these books out there and I haven't read all of them to tell you which is best (check out reviews on places like amazon.com).

These are the books I've read, and I'll tell you the good and the bad. I'm sure most books of this nature are pretty well-written, so take this review as both a suggestion of the specific books and a topic list. You can find my entire collection in my amazon.com listmania!.

The most fundamental book in my collection is William Strunk Jr. and E.B. White's The Elements of Style. It covers all the important elements of writing, including usage rules (adding "'s", commas, colons, and elusive semi-colon), composition, misused words, and clever and concise style tips. Elements of Style is pocket size--take it with you anywhere and learn in just a few pages how to be a better writer. I'll be saying this many times: the advice in this book is applicable in every position at every company. Learn how to write and you'll be indispensable.

Once you learn how to write, learn how to say what you put on paper. The Elements of Great Public Speaking is a great start to using your voice confidently and effectively. Like the Elements of Style, this guide is pocket sized, easy to read, and a great primer for learning to be a powerful communicator. And like the tips for writing, some of the ideas for public speaking are both simple and yet, easily missed. The book covers the important business basics: presentations, introductions, and meetings. It also goes beyond and hits the public speaking events you might not immediately associate with your job or your career. But you never know who's listening, and opportunities such as toasts, speeches, presenting and receiving awards, and master of ceremony presentations, could end up being just as important. Again, this is important for any job. Anyone can deliver a fact-based presentation with authority after hours of practice. Read this book and learn to be "calm, confident, and compelling," as the cover promises.

On the subject of presentations, one of my favorite books of all time, Beyond Bullet Points, dives into the important idea of making your presentation interesting. It seems so simple, but we've all been there: the presentation comes on, the background is some silly business looking graphics with a globe or something, the title glides in, and the bullet points appear. At this point, I'm already dreading the rest. But then, the presenter starts in. First, he or she looks at the screen, then starts to read the bullet points out loud. For me, this type of presentation loses credibility, and I doubt the importance of the material. There is a better way: avoid the bullet points.

This book is a great issue-specific guide. It takes you through the entire process of designing an effective slide show, including brainstorming, creating the ideas, writing the story, putting PowerPoint to work for you, and delivering a fantastic and engaging presentation. It even includes design tips for slides that are great for other reports and documents. Follow this guide and you'll make a great presentation that keeps the audience engaged and focused. You'll be convincing and, maybe even more importantly, unique. Try this technique in a board meeting and I'm willing to bet you'll be seeing that promotion a little bit sooner. Try this technique at a conference with a bunch of presentations and watch the audience. When people are reading off the slides, people drift off. They might be listening and taking notes, as they are expected to do, but they're not hooked. Then, watch as you take them through the journey of your presentation, with minimal and simple yet effective graphics and text on screen to emphasis your important points. It's an incredible difference.

Also, for an example of a great presenter using many of the principles of this book, check out Steve Jobs. When he introduces new products for Apple Computers, he doesn't just throw up a list of bullet points. He walks us through the history, the development, and the new product. It's a wonderful experience. Check out this video below where he reveals the iPod Nano (the suspense is great):

UPDATE: Microsoft Considers Hostile Takeover

The WSJ, the NYT, and others report today that Microsoft is considering a hostile takeover of Yahoo! This rumor comes after Microsoft's initial offer to buy Yahoo! outright was rejected at the offered price. Since that time, Yahoo! and Google have pursued a potential cooperative advertising strategy.

As I mentioned before, the news always covers the implications of an acquisition or a hostile takeover to the board, or maybe the shareholders and C-level employees. They don't pay as much attention to the everyday employees. In this case, its everyone including senior programmers, cafeteria workers, and maintenance crews. And this information should be important to Microsoft management--if Yahoo! employees leave out of frustration, Microsoft's value of Yahoo! is decreased. In addition, the WSJ mentions a policy Yahoo! has in place as an "anti-takeover" measure. Specifically, "Yahoo's poison-pill antitakeover defenses essentially require any would-be hostile acquirer to remove its board."

Microsoft claims to be able to enter the online advertising business without Yahoo! in their goal to compete effectively with Google, but this hostile takeover rumor hurts their credibility. Stay tuned to this story--either way it will drag out for a while.

What if it was you?

It's not hot-off-the-press news, but the Yahoo! dealings have been making the papers on a daily basis. The basic story: first, Microsoft made an unsolicited bid for the internet staple, which Yahoo! mostly rejected. From that point until now, Yahoo! has been examining other options, including using Google advertising. Check out some of the stories from the Wall Street Journal

On a nice side note: if you're interested in business, finance, or just the world, you should read the Wall Street Journal. It has the best business coverage and fair coverage of the mainstream news, except for the right-leaning editorial section. They offer student discounts and I honestly enjoy reading this paper. I'm not on their payroll; this is a personal recommendation. I originally subscribed because the paper was required reading for a class. Now, I extended my amazing discount for the rest of the calendar year. Most important tip: Read the two columns on the left side of the front page. These are the most informative and if you have no time for the entire paper everyday, read these columns.

WSJ (must be subscribed) Yahoo Studies Alternatives to Microsoft
Some antitrust implications: USA Today
Keep up with the story: Google News

My WSJ advice aside, the rest of today's edition is really more of a question. Namely, what would you do if your company was heading towards a likely merger or acquisition? Would it be different if you worked for a giant media/online giant like Yahoo!? Working for a small company seems to have the risk of changing corporate structure inherent in the job, but we all saw Yahoo! an an internet tradition.

I've heard some stories about Yahoo! employees leaving, but I'm not sure if that would be my initial response. I guess it's one of those things that you don't know until it happens to you. Share any of your thoughts in the comments below.

80,000

A few weeks ago I wrote about the economic stimulus package designed by Congress to slow this recession. Well, according to the New York Times, things are still heading downhill. The paper reported a loss of 80,000 jobs in the month of March alone. It doesn't seem like we can mince words anymore; if this isn't a recession, then what is?

Back on the idea of an economic stimulus, in response to the 80,000 figure, Speaker of the House Nancy Pelosi suggested a second economic stimulus package. I just wonder where the first one went?

People are desperately looking for new jobs and, like many of you, I'm looking for my first one. My search is still moving along at the same constant and slow pace. I had a phone interview with one campaign organization the other day, but other than that, I'm still sending out applications and waiting to hear back. As I've mentioned before, I also have my networking contacts helping out. Every time I submit an application I check with a few people to see who they know, always looking for inside tips and contacts.

For all of us looking for a job, I'm continuing a highlight of the etiquette videos online. Today, with this focus on getting a job, we have a nice focus on the little things that matter; the thank you.



In this time of job loss and an economic downturn, the little things are maybe even more important than normal. If you want the coveted job, well you better make yourself standout in every single way possible. And very important: did you hear the tip on time? Send your thank you notes within 48 hours. That's the details of the details.

I've already admitted I'm not the expert, but if you have questions about anything in the finance world, from specific jobs, certain industries, government intervention, or general career questions, please post them below as a comment. I'll take a look and give me thoughts and pass your question onto a real expert for a more thorough response.

Finance Questions Continued

Today we have some more thoughts on individual questions. Remember, these are just my thoughts and opinions and someone with 5 years in the accounting or other finance-related industry probably has a different answer than I do. And someone with 25 years probably has a third answer. So use the information below, collect many opinions, and compile a decent cross section of thought. Then, hope for the best.

Question: I am getting an M.B.A in finance. I got a job offer at an insurance company where they sell insurance and mutual founds. They job is by commission. Will this job help me towards my financial career? --Miguel, IL

This question actually relates to the previous question about experience in the job market. How do you get the needed experience to land a job when the job is what you need to get the experience? Miguel actually hit on an idea I didn't mention specifically that fits the needed criteria. A commissioned job is a beautiful chance to take a position where most responsibilities are on sales. Therefore, the management can put some trust in you for that task because if you fail, you don't pull down the whole business and they can easily replace you with another new team member.

That worse cast scenario said, I think the opportunity it presents is exactly what you need to break into your career. Because its a commission based position, the company only pays you if you sell! That is, they only pay you if you do good work for the company. Thus, success in a commissioned position is both an indication to the employer that you can handle your job and perhaps more responsibility, and a signal to other employers that may have had doubts if you had walked int the door with a slim resume.

A commission sales position might be that foot in the door that breaks the experience/job cycle. A big company may think "why not give this one a chance" and hire numerous sales people, only to retain the best. Its like a free test for the company, and they always win. I know one friend who graduated with a bachelor's degree and went to work as a commissioned sales intern for a basketball team. It was a competitive program to get into in the first place and after accepting about 20 people for one year, only 2 were offered full-time position.

I say yes: a commissioned position will help your career in general. I can't say whether or not a specific commissioned position with insurance or mutual funds will help if you want to go into investment banking or something specific--it can't hurt, but I'm saying it might not be the best entry when other options are available.