What I Read (6)

Date: October 31, 2005
Title: Einstein’s Clocks, Poincare’s Maps: Empires of Time Author: Peter Galison
Thoughts: It’s amazing how many things, ideas, philosophy, technology, science, can come together within people to revolutionize our understanding of the world.

Date: November 2, 2005
Title: How We Got Here
Author: Andy Kessler
Thoughts: Tongue in cheek. Readable. Interesting.

Date: November 16, 2005
Title: Sea of Glory Author: Nathaniel Philbrook
Thoughts: A great adventure turned cautionary tale. Wilkes certainly had determination, perseverance and dedication. He lacked character, integrity and patience. With what he had he accomplished something great, and by sad display of what he lacked he denied himself the fame he sought.

Date: December 4, 2005
Title: The Power of Positive Thinking Author: Norman Vincent Peale
Thoughts: I’m going to improve my thinking and keep at it. I’m going to do what it takes to have the good life I desire.

Date: January 1, 2006
Title: Simple Pictures Are Best
Author: Nancy Willard, illustrations by Tomie De Paola
Thoughts: Possibly my favorite book. It has influence me more than any book except the Bible. I am a firm believer in simplicity.

My parents got me a copy as a child and I’ve always remembered it.

Date: January 3, 2006
Title: The Millionaire Maker Author: Loral Langemeier
Thoughts: I’m looking forward to being a millionaire. Even more, I’m looking forward to financial freedom.

Date: January 10, 2006
Title: IBM and the Holocaust
Author: Edwin Black
Thoughts: Heavenly Father, keep me always aware of the eternal value of righteousness and justice.

Date: January 16, 2006
Title: No More Christian Nice Guy Author: Paul Coughlin
Thoughts: “God is an odds-breaker—He loves that game, and when you flex even a small amount of faith, he’ll open doors for you” (quote from the book).

Date: January 16, 2006
Title: Starting from Scratch
Author: Wes Moss
Thoughts: I’m starting a successful business, too.

Other parts of What I Read:
Part 1
Part 2
Part 3
Part 4
Part 5

The Wright Brothers by David McCollough

Brothers Orville and Wilbur Wright rose to fame at the beginning of the 20^th Century by building the first successful manned, powered flying machine. In popular culture, they tend to be presented as geniuses who went out to Kitty Hawk and started flying one day. In his biography of these men, The Wright Brothers, David McCollough does not dispel the notion of genius, but he focuses on their courage, determination, careful study, methodical approach, and persistence in the pursuit of something they believed could be.

As boys, the brothers were inspired by a toy to consider the possibility of flight. As grown men, they made a careful study of it. Before beginning their experiments, they gathered the available information, including contacts with earlier experimenters in flight such as Octave Chanute and Samuel Pierpont Langley (the director of the Smithsonian Institute who’s “aerodrome” was a failed early flyer). When they began conducting their own experiments with kites (and later using a small wind tunnel they made), they found the published data to be lacking in useful or correct information.

Therefore, it was mainly on their own that the brothers invented their flyers and the means of piloting them. They had the practical view that inventing a flying machine included inventing the method for controlling it in flight.

An interesting note is that the Wrights funded their experiments and first airplanes with their own money. Their bicycle shop must have produced a decent income, but they lived modestly. They lived in a modest home together with their father and sister until after they completed built three working airplanes, the third model being the one they demonstrated publicly. Even after they began to make money making airplanes and decided to build a new, larger house, they shared it. Wilbur’s only request for the new house was that he have his own bedroom and bathroom.

McCollough emphasizes how much the success of Wilbur and Orville was a family affair. They were close to their widowed father, who survived Wilbur by two years. Once they began to demonstrate their airplane and make a build a business on it, their sister Katherine became a social manager for them, and she share a house with Orville until she married at the age of 52 (she passed away three year later). Orville had a long life and saw many improvements in aviation after he sold the company, including Charles Lindbergh’s trans-Atlantic flight and the use of bombers in World War II.

The book is fairly brief. McCollough concentrates on the period when the Wrights were most involved in experimenting with, building, and ultimately demonstrating their invention. Even so, one gets a sense of what the brothers and their immediate family and friends were like.

David McCollough also wrote The Great Bridge. 

If you’re interested in this book, you may also be interested in

Make a Joyful Sound by Helen Elmira Waite

McCullough, David. The Wright Brothers. New York: Simon & Schuster, 2015.

Public Utility Depreciation by NARUC

I don’t usually read reference books, or textbooks, all the way through like I did with Public Utility Depreciation Practices. Because of my new job as a “depreciation engineer,” I undertook reading this guide from the National Association of Regulatory Utility Commissioners (NARUC).

The title describes the content of the book. It includes some historical and legal background, but the bulk of the book is aimed at the practicalities of determining depreciation expenses.

The main elements going into depreciation rate determination are depreciation base, service life, net salvage, and depreciation computation methods. Depreciation base is the starting point; it represents the initial investment of capital that is to be recovered as a cost through depreciation. Generally it is the book cost (original cost of the infrastructure including materials, equipment, labor and related costs).

Most methods of computing depreciation are referred to as age-life methods. These methods spread the cost of the expected life of a piece of infrastructure. The preferred method is straight line depreciation. To apply these methods, one will need to know or estimate the life of the infrastructure under consideration and the net salvage value. The depreciation rate is the difference between the base and the net salvage, divided by the life of the infrastructure. With the exception of unique pieces, like types of infrastructure are lumped together because they are expected to have a similar life (wooden poles, steel poles, copper wire, conduit, etc.).

Life expectancy can be estimated by several methods. Survivor curves are developed from statistical studies of the life of particular types of infrastructure, though other methods may be used depending on the type and quality of data available.

Net salvage is estimated based on experience. The gross salvage is the price received for the equipment or materials retired. The cost of removal is subtracted from this to calculate the net salvage. Sometimes it can cost more to remove infrastructure than the value of the retired equipment and materials, so net salvage can be negative.

Calculating depreciation is more art than science. Projections of future values are inherently tricky. Growth can cause infrastructure to become inadequate before it is expected, or slower than expected growth can extend the life infrastructure. New regulations can make infrastructure obsolete in an instant, as can new technologies. In addition, utilities are constantly adding and retiring infrastructure. Amidst this uncertainty, regulators must balance the level of service needed by utility customers with the returns needed by utility investors in a complex environment.

Admittedly, a book from 1968 may seem dated. However, many of the practices described are still in use. Government regulation of monopoly utility rates in the United States has been occurring for more than a century, and the practices to not change rapidly. Even so, some of the practices described were considered obsolete, or near obsolescence, at the time of publication, and are not likely to be encountered now unless you’re a financial historian combing through moldy account books.

National Association of Regulatory Utility Commissioners. Public Utility Depreciation Practices. 1968. Washington, DC: Author, 1974.

The Innocent Man by John Grisham (audio book)

The Innocent Man by John Grisham (Random House, 2006)

Audio book read by Dennis Boutsikaris

This is the story of the trial of two men for the murder of Debra Sue Carter, a young woman who worked as a waitress in Ada, Oklahoma. Ron Williamson and Dennis Fritz were convicted of a crime they did not commit, and the justice system consumed more than a decade of their lives before minimally correcting its error.

I’m not surprised it took so long to overturn the convictions of these men. I’m surprised it got so far to begin with. The police investigation was very incomplete and shoddy, even for 30 years ago when technology and science played a much lesser role in collecting and analyzing evidence (Grisham strongly suggests the Ada police had ties to drug dealer, including one of the detectives on the case, and that influenced the investigation). The lawyers for the defense were competent, but they were not supplied with the means to mount a good defense for their poor clients. Williamson was clearly mentally ill, but there was never a proper determination of his fitness to stand trial. The evidence was so thin I’m surprised a trial was permitted. They even let a former Ada police chief sit on the jury (admittedly, he was not forthcoming during jury selection, but you would think someone in that small town would have known or pressed the issue more).

I can understand the thirst for answers, especially in a small community where a violent crime captures the public attention. It reminds me of the 2005 conviction here in central Missouri of Ryan Ferguson for the of journalist Kent Heitholt in 2001, when Ferguson was still in high school. The conviction rested on some uncertain eyewitness accounts, possibly influenced by police and prosecutors, and the confession Charles Erickson. There seems to be little evidence against Erickson except his drug-induced loss of memories of the night of the crime. He took a plea bargain to testify against Ferguson. As with Williamson, police and courts seemed to pay little attention to the mental state of Erickson.

In spite of the lack of evidence to back up the witnesses few, in my mind Erickson is a very sketchy witness even to his own involvement, the jury convicted Ferguson. People wanted answers, order, justice, and a sense that the issue was resolved so they could return to a safe life. This made them blind to all the problems with the case against Ferguson. The police felt those public pressures and were too ready to go with a problematic case rather than go through a tough investigation that might lead to no answers. The case had other problems, and as people began to admit to false confessions and prosecutorial influence of witnesses, the conviction was revisited and overturned in 2013, after Ferguson had spent most of his 20s in prison.

I think our justice system is often close to the mark and produces mostly good results. However, it should not take years, or decades, to correct such problematic cases as these. In fact, these cases should have never come to trial based on such flimsy evidence.

Professional Amateur by T. A. Boyd

Charles F. Kettering’s legacy as a philanthropist is memorialized in the names of the institutions he supported such as the Kettering Foundation and the Memorial Sloan-Kettering Cancer Center. As an engineer, I’m more familiar with is reputation as an inventor and innovator, especially in automotive engineering.

Kettering’s associate, T. A. Boyd, memorialized him in the biography Professional Amateur. I think the title is intended to convey Kettering’s humility and determination to not let expertise or established knowledge get in the way of progress. As an engineer, and arguably a scientist, Kettering was devoted to experimentation.

As with others of his era (he was born in 1876), Kettering’s education was not traditional by current standards. After graduating high school, he began teaching in one-room schoolhouses in Ohio such as the one he had attended. He later attended the College of Wooster, studying Greek with an eye toward becoming a pastor, and eventually graduated from the Ohio State University with a degree in electrical engineering. Problems with his eyes caused interruptions in his formal education.

Kettering valued his school experience, but he also valued his practical experience. He got a job installing poles for a telephone company and worked his way into installing lines and switchboards. He and friends undertook amateur experiments in chemistry and electricity. Even as a child he took great interest in nature.

After introducing us to his early life, the book turns to his career as an inventor and research engineer. He established what is now Delco, which he sold to General Motors. He had a long career leading the research efforts at GM. The final chapters of the book describe Kettering’s views on business and education and his career as a public speaker.

Kettering met his wife, Olive, while working for a rural telephone company. Their son, Gene, followed his father into engineering and eventually had a successful career in designing and building diesel-electric locomotives a General Motors.

Boyd was a friend of Kettering, who was still alive when Professional Amateur was published. Needless to say, the book is very complimentary to its subject. Few faults are attributed to the man, except that Kettering is depicted as being so absorbed in his research that he would overlook social conventions like keeping a nice suit clean, entertaining guests, or remembering the purpose of his appointments. The research engineer left his business affairs mostly in the hands of trusted partners so he could concentrate on the work that interested him, though Boyd’s depiction indicates Kettering was shrewd about business.

I don’t think the book is intended for children, but it is written in simple and direct style that might be accessible to many young readers. It was published in 1957, so more recent or thorough biographies may be available. For instance, Kettering introduced tetraethyl lead to gasoline as a way to reduce knock and improve fuel efficiency. Though it was considered safe at the time (as Boyd points out), the lead emissions from automobiles has be reevaluated sense and we no longer use leaded gasoline. The book was written before anyone was seriously aware of or concerned about this issue, so it does not consider it.

If you’re interested in this book, you may also be interested in

The Age of Edison by Ernest Freeburg

The Essential Engineer: Why Science Alone Will Not Solve Our Global Problems by Henry Petroski

Make a Joyful Sound by Helen Elmira Waite

The Pinball Effect by James Burke

Boyd, T. A. Professional Amateur: The Biography of Charles Franklin Kettering. New York: E. P. Dutton & Co., 1957.

You are a Badass at Making Money by Jen Sincero

Making money starts in your mind according to Jen Sincero, author of You are a Badass at Making Money. Your wealth, or lack of it, has a lot to do with your mindset.

The things we think and say, even and maybe especially in your subconscious mind, affect our behavior related to money. If you’re making less than you want, you probably have beliefs and thoughts that are holding you back.

Fortunately, you can change your mind. Much of Sincero’s book is focused on ways you can get a new perspective on money and change your habits of thought. New behaviors and more money should follow.

Of course, changing deeply ingrained beliefs and habits that you’ve practice for years can be difficult. It requires persistence and determination.

It also requires action. At first, you’re unlikely to know how you’re going to make more money. You’ll have some ideas, and you should act on them. You’ll have questions and you should seek out answers.

Sincero suggests you’ll have help along the way. This is where things get a little far out. She says there is a universal intelligence trying to give you what you want. Our consistent thoughts tell the universe what we want and how much we want it. If we want positive things, like being rich enough to do a lot of cool stuff, we should have strong positive emotions as much as we can right now.

This notion of universal intelligence is common to self-help literature, especially related to wealth. Sometimes the power is ascribed to the subconscious mind, as in the case of Maxwell Maltz, but often this power is seen to rest in some outside or all permeating force, which is some people’s conception of God.

Actually, a lot of the ideas you’ll find in Sincero’s book are common to the genre. The humorous and entertaining way she presents the material is unique. Books like this are sometimes dense, brow-beating or far out there, but Sincero’s humorous, easy-going tone and straightforward style makes for easy reading.

Jen Sincero also wrote You are a Badass.

If you’re interested in this book, you may also be interested in

Acres of Diamonds by Russel H. Conwell

Creative Living for Today by Maxwell Maltz

Gratitude by Melody Beattie

The Magic Power of Self-Image Psychology by Maxwell Maltz

Make Miracles in Forty Days by Melody Beattie

Mindset by Carol S. Dweck

The Secret of the Ages by Robert Collier

Secrets of the Millionaire Mind by T. Harv Eker

Write It Down, Make It Happen by Henriette Anne Klaus

Sincero, Jen. You are a Badass at Making Money: Master the Mindset of Wealth. New York: Viking, 2017.

The Great Stink by Clare Clark

Clark, Clare. The Great Stink. Orlando, FL: Harcourt, 2005.

William May, the fictional protagonist, is a surveyor for the real Metropolitan Board of Works. From 1856 to 1870, the board led by its chief engineer Joseph Bazalgette who plays a minor part in the novel, built 80 miles of sewers under London. This massive infrastructure transformed the city and the Thames that runs through it.

May spends a lot of time in the crumbling old sewer that are soon to be joined and transformed by the board. The filth of London is the least of the horrors of Victorian England that he must overcome. He faces the Crimean War, a military hospital ship, corruption in politics and business, an insane asylum, prison, an indifferent justice system and his own misunderstood mental illness.

Though the novel is set in the midst of an enormous engineering project and the main character has such a breadth of experience, the story focuses on a few people coping with a changing (modernizing) world. Their stories are brought together by petty murder committed by a greedy man.

May, who except for his misfortune might be considered middle-class by 19th century standards, is contrasted to Long Arm Tom. Tom is a tosher; he makes his living recovering copper and other valuable material from the sewage and waste of the city. Many of London’s poorest lived by extracting meager value from waste. The great sewer project was brining and end to Tom’s profession.

May and Tom are witnesses to a murder. May almost hangs for it; it is luck, including the good fortune of having a conscientious lawyer assigned to his case, that rescues him. Tom becomes an accessory to the murder, and later uncovers it to get revenge.

Class was a huge part of English life, and it clearly comes through, but Clark resists taking a romantic view of it. Tom is not virtuous because or in spite of his poverty. He is a wily and unscrupulous denizen of a corrupt world. May is a professional who ostensibly has the most to gain from the social changes occurring, but deeply damaged and almost destroyed by the highs and lows of a society in flux. His lawyer, Sydney Rose, is the scion of an impoverished peerage. He is motivated by his hopes to move up in society as much as by any sense of noblesse oblige. His victory is due as much to luck and determination.

The pace of the book is slow compared to other thrillers of mysteries. The book is as much about May and Tom coping with a changing world as it is about murder mystery. It tempo picks up in the final chapters as Rose begins to put together a defense for May.

Overall, it is an enjoyable book. It works in its combination of history, mainstream fiction, mystery and picturing of a world that is rapidly changing through new technology.

(If you're interested in the history of the great London sewer project, see this review of Dreams of Iron and Steel by Deborah Cadbury.)

Order this book here.