Elizabeth Whitworth, Author at Shortform Books

David Lilienthal: One of Wall Street’s Good Guys

Who was David Lilienthal? What can you learn from his story about working with purpose and transitioning from one career to another? The people of Wall Street may have a reputation for pursuing profits at all costs, but John Brooks says that there are those who’ve managed to balance this pursuit with a sense of purpose. Brooks profiles David Lilienthal, former chairman of the Tennessee Valley Authority (TVA) and, later, chairman and CEO of the Development & Resources Corporation (D & R). Brooks traces Lilienthal’s career trajectory and how he navigated the transition from public servant to big businessman. Continue

How to Set Personal Goals (12 Rules for Life)

Do you set goals for yourself? What’s the key to setting effective personal goals? According to Jordan Peterson, you should set your goals based on who you want to become, not who other people are. He argues that, if you compare yourself to other people, you’re using an unfairly harsh standard. With this in mind, here’s how to set personal goals, according to Peterson.

Devaluation of the Pound: Background to the Crisis

Why did the UK devalue its currency in 1967? What events led up to that decision? Could the fallout have been even worse? In 1964, the British pound was struggling. Currency hedgers and speculators were betting against it. An alliance of central banks tried to save the pound from devaluation. It worked, but only temporarily. The UK moved to devalue the pound in 1967. Continue reading to learn more about this historic devaluation of the pound.

The Salad Oil Scandal & a Wall Street Bailout

What was the Salad Oil Scandal? How did it—and the JFK assassination—lead to a Wall Street bailout? It was November 1963. Ira Haupt & Co. was in trouble. The firm had borrowed millions to invest in a company that turned out to be a fraud. Ira Haupt & Co. was about to go bankrupt, and its shareholders’ money was at risk. Keep reading to learn about this historic scandal and subsequent bailout.

Shortform Reads: Finding Happiness in Books

What book gave Bailey a record number of aha! moments? What helped her get more into books about history and economics? Bailey could tell you all about it. Currently based in Scotland, she’s a book guide writer at Shortform. We interviewed her recently to learn a bit about her relationship with books.

The Trade Secret Case of Donald W. Wohlgemuth

What are trade secrets? What are the laws associated with them? How can you protect them? Though laws and regulations can shift based on the whims and follies of Wall Street’s big players, John Brooks writes that even one individual can change the legal landscape. In Business Adventures, he discusses a landmark trade secret case involving a man named Donald W. Wohlgemuth, whose employer tried to prevent him from accepting another job offer because he had knowledge of trade secrets. Read more to learn about trade secrets through the example of this historic case.

What’s Insider Trading? The Texas Gulf Sulphur Case

What’s insider trading? Is it wrong? What can you learn from the Texas Gulf Sulphur Company case? John Brooks writes about a landmark insider trading case against Texas Gulf Sulphur Company, in which the law’s ambiguous definitions of “material evidence” and “a reasonable amount of time” were put to the test. The SEC took the company to court for illegally using insider information and misleading the public. Read more to learn about this historic case of insider trading.

U.S. Income Tax History: Is It a Rich Man’s Tax?

What’s the history of the federal income tax? Is income tax a “rich man’s tax”? In a survey of U.S. income tax history, John Brooks traces the roots of the federal income tax and discusses how the wealthiest people can get away with paying hardly anything at all. Much of this is due to the increasing complexity of tax laws over the years. Keep reading to understand Brooks’s perspective on the federal income tax.

Business Complacency: Stockholder Meetings Matter

What happens when stockholders don’t care about anything other than making money? Why should they attend annual stockholder meetings? Business complacency often happens once a company has achieved success. John Brooks warns against this apathy—particularly from stockholders who take little or no interest in business decisions—as it can cause you to be blind to internal weaknesses and external threats. Keep reading to learn more about complacency on the behalf of stockholders and the importance of annual stockholder meetings.

Why Did the Ford Edsel Fail? The 3 Reasons It Flopped

Why did the Ford Edsel fail? What can we learn from this adventure in business? In the 1950s, Ford Motor Company wasted millions of dollars on the Edsel, a car that is considered one of the biggest product launch failures of all time. In Business Adventures, John Brooks shares his analysis, offering three reasons for the failure. Continue reading to learn why the Edsel was a flop.