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| 1. Property, 7th Edition by Jesse Dukeminier, James Krier, Gregory Alexander, Michael Schill | |
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| 2. The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron by Bethany McLean, Peter Elkind | |
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Two significant differences are that Smith and Emshwiller limit their attention primarily to a period in 2002 extending from October 16th (when Enron announced huge losses caused by two partnerships) to December 3rd (when Enron filed for Chapter 11 bankruptcy); McLean and Elkind cover a two-year period of the company's "amazing rise and scandalous fall." Also, McLean and Elkind devote far more attention to each of the "smartest guys"; Smith and Emshwiller seem far less interested in them, except in terms of the impact of their mismanagement and corruption. Let's say there are two books about the collapse of the twin towers at the World Trade Center; one focuses on the human tragedies associated with it whereas a second book addresses design, construction, and structural issues. Obviously, both approaches are valid. McLean and Elkind suggest that the eventual collapse of Enron was caused less by the greed of senior-level Enron executives than it was by their arrogance and incompetence. Their lack of basic business acumen is astonishing as is their defiance of regulatory agencies and contempt for customers. None of them seems to have had a moral "compass." They exemplified, indeed nourished a culture of brutal competition between and among their subordinates. Each used Enron as a personal ATM as well as a means by which to structure all manner of corporate partnerships and high risk/high yield investments without fear of any personal liability. If one prospered, so did they. If it failed, the loss was Enron's. On to another. Primary blame for all this must be shared by Lay, Skilling, and Fastow. McLean and Elkind rigorously examine the inadequacies of each, suggesting that if only one of the three had not been involved, it is probable that Enron would not have had the problems it did. Attorneys, accountants, brokers (notably Merrill Lynch) and bankers (especially Citibank and JP Morgan Chase) apparently were aware of Enron's bending and then breaking of various laws but were earning so much in fees that they chose to remain at the Enron "trough" side-by-side with Lay, Skilling, Fastow, and other Enron executives. Consider this brief excerpt from Chapter 10 (page 149): Here's how another former employee explains the process: "Say you have a dog, but you need to create a duck on the financial statements. Fortunately there are specific accounting rules for what constitutes a duck: yellow feet, white covering, orange beak. So you take the dog and paint its feet yellow and its fur white and you paste an orange plastic beak on its nose, and then you say to your accountants, `This is a duck! Don't you agree that it's a duck?' And the accountants say, `Yes, according to the rules, this is a duck.' Everybody knows that it's a dog, not a duck, but that doesn't matter, because you've met the rules for calling it a duck." There are so many other brief, equally revealing excerpts which I am tempted to include but won't. Earlier, I suggested that McLean and Elkind display in this volume many of the skills of a corporate anthropologist. I also commend them on their skills as storytellers. Of course, it helps to have many colorful characters and such an interesting narrative. Among business books, this is one of the rare "page turners." If Enron remains a classic example of organizational dysfunction, my guess is that this book will remain the definitive analysis of the causes and effects of that dysfunction.
The authors rightly spend the vast majority of the book examining the personalities and circumstances that allowed the company to become what it was at the end of its life. Mix a potion that's one part hardscrabble Harvard MBAs, one part energy deregulation, and one part hysterical bull market, and you've got a financial molotov cocktail. Sadly, as we all know now, it was largely the little guy who paid the price for all the hubris of the players in this story, a fact that tends to get lost in the authors' painstaking recreation of the most complicated shell game in history. But the story of Enron's fallout could provide the material for a whole other book. In this one we get the tale of the players, people like Ken Lay, Jeff Skilling, Rebecca Mark and Andy Fastow, all filled with an equal mix of remarkable brilliance and fatal arrogance. All are indicted by these authors as rabid players in a game they made up themselves, deeming themselves beyond the petty world of rules and regulation. But coming in for equal excoriation is the system itself, the web of enablement and intimidation that allowed Andy Fastow to quietly hammer together the company's coffin in the form of a maze of phantom accounting entities designed to prop of the appearance of the corpse inside. The most unnerving theme the book treats indirectly is the effect of mass psychology--the way exceptional personalities distort and transform reality on a systemic scale. And it offers little in the way of how something like this could ever be prevented in the future. One word of warning for people not acquainted with basic finance: this is a complicated story, about erstwhile geniuses in the arcane use of financial products and regulatory loopholes. Though it's enjoyable even if one can't follow every detour down each accounting scheme, some knowledge of Wall Street and its workings seems necessary to understand the implications of the book overall. Given the fact that most experts didn't understand what went on here, the authors do their best to keep things as simple as possible, often using helpful metaphors and simple summations after a few pages of analysis, but they have no choice but to assume a level of sophistication among their readers. Which leads to one gripe. In "The Smartest Guys In the Room" not a single institution or individual player involved with Enron escapes the authors' finger-pointing notice, with but one exception. Where were the journalists in all this? Why did short-sellers have to be the ones to ask all the tough questions? Bethany Mclean should take understandable pride in being the first one to pry the door open on Enron's malfeasance, but she was just a little late. One would think that with the mass of financial journalists on CNBC, the Journal, the Times, etc., that just one would have bucked the collective cheering squad and dug deeper into what this supposedly invincible company was up to. But of course, this was the bull market. A time when everyone was exuberant when they should have been scared.
I also recommend a book that explains how structured finance can be used to funnel money out of companies and which explains Enron's disguised loans: Tavakoli's "Collateralized Debt Obligations and Structured Finance."
Ripping off the investors is bad enough, but some of the executives cannibalized their own company with Wall Street's help. Financial engineering may have assisted these people, but their willingness to do it in the first place is a question of character. McLean and Elkind do a masterful job of implying the contributing elements of lack of character. This is a well written and fascinating book. This is not so much a book about finance as it is a book about human behavior in a social crucible where power and high rewards are at stake. This book will become a classic in business school ethics courses and organizational behavior courses. "Collateralized Debt Obligations and Structured Finance" by Tavakoli will become the textbook of choice for any graduate school developing a course in this subject. It's clever in explaining structured finance including Enron's disguised loans. The author gives reasons why investment banks and sureties who aided Enron had their own failings in how they distributed internal social rewards. It's a structured finance text that warns against and suggests defenses to this kind of behavior and starts out saying that one should expect fraud and be prepared to diffuse it.
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| 3. Criminal Law and Its Processes: Cases and Materials, Eighth Edition (Casebook) by Stephen J. Schulhofer, Carol S. Steiker, Sanford H. Kadish | |
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| 4. Wills, Trusts, and Estates, Eighth Edition by Jesse Dukeminier, Robert H. Sitkoff, James Lindgren | |
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Editorial Review Co-authors Robert Sitkoff and James Lindgren took great care to preserve the voice and spirit of Jesse Dukeminier, while fulfilling the trust and expectation among users for timely and relevant coverage, cases, and note material. Reviews
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| 5. Contracts Examples & Explanations by Brian A. Blum | |
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Editorial Review Important features of this highly regarded study aid include: New to the Fourth Edition: Reviews
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| 6. National Electrical Code 2011 (National Fire Protection Association National Electrical Code) by National Fire Protection Association | |
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list price: $85.00 -- our price: $76.50 (price subject to change: see help) Isbn: 0877659141 Publisher: Delmar Cengage Learning Sales Rank: 12131 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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| 7. Property Examples & Explanations, 3e by D. Barlow Burke, Joseph Snoe | |
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Editorial Review New to the Third Edition: With its focused coverage, concise format, and problem-based format, Property Examples and Explanations, Third Edition, continues to provide Property students with the help and confidence they need to master this difficult first-year course. Reviews
It's confusing. There is no natural progression in explanations. I felt like I was reading another confusing casebook with bad examples! Burke and Snoe need to take a look at how Glannon does it for Torts and Civil Procedure before they write the second edition.
Compared to the Examples & Explanations for Contracts (Blum), Torts (Glannon), and the astounding Civil Procedure (Glannon), this book was a big let-down. Either Aspen needs to have some student reviewers, or the editors at Aspen need to get their act together and compare what is in the book with a commercial outline. In our study group, we randomly turned to two examples & explanations. In one case, the authors said that they differed on the outcome, but only gave one authors opinion (Implied Warranty of Habitability, chp 20, example #10). In another (on Dower, Chp 14., example 1), the answer is flat-out wrong. I do like that the chapters are short, and not intimidating, but the explanations have to be beefed up and well-developed. They are not in this book, and I cannot recommend anyone purchase it. I'm not wasting any time using it in preparation for finals.
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| 8. The Law of Torts: Examples & Explanations, 4th Edition (Examples & Explanations Series) by Joseph W. Glannon | |
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| 9. Think And Grow Rich &The Law Of Success (Self-Improvement & Success Secrets 2-Book Value Pack by Napoleon Hill | |
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| 10. Getting To Maybe: How to Excel on Law School Exams by Richard Michael Fischl, Jeremy Paul | |
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I am the author of Planet Law School: What You Need to Know Before You Go--but Didn't Know to Ask. Unfortunately, Getting to Maybe was first published in 1999, a year after PLS, so I could not recommend it in PLS. Hence this posting, now. Even though the authors and I are competitors, and our books are published by different firms, I urge all law students to get Getting to Maybe. (For one thing, the authors' critique of the IRAC model is succinct and devastating.) If you take doing well in law school (and becoming a good attorney) seriously, this book is a necessity. It's so well-written that I had to force myself to put it down, and ended up reading it in just two sittings, of several hours each. The earlier review, about the teaching of Tantric Yoga, in exactly right. With Getting to Maybe, the secrets are secret no more.
The title of the book is a play on the title of a classic book about the art of negotiation, called _Getting to Yes_. Implicit in _Getting to Maybe_ is that, unlike a negotiation, performance on law school exams does not require an exact answer or resolution. The method by which these law professors explain this concept is especially interesting. In connection with their academic research, they propose to break down law school exams into small components, and thoroughly analyze those components. The result is a very substantial and comprehensive analysis of the structure of law school exams and the skills required to do well on these exams. You may be asking how the professors purport to explain _all_ law school exams, for surely there are professors for whose exams these methods will not work. These professors make the interesting point that in the United States, law education is fairly uniform, and, therefore, the skills required to perform well on law school exams are fairly uniform, as well. I read this book prior to starting law school. I found it useful primarily because I have read a number of other books about legal reasoning and the study of law and the law school experience that are more basic than the material in this book. If this is your first book regarding the study of law or peformance in law school, I would advise putting it aside in favor of a book offering a broader overview of law, its study, and law school.
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| 11. Business Law: Text and Cases (West's Business Law) by Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, Frank B. Cross | |
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list price: $245.95 -- our price: $164.14 (price subject to change: see help) Isbn: 0324655223 Publisher: South-Western College/West Sales Rank: 12064 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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| 12. 2009 International Building Code: Softcover Version by International Code Council | |
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| 13. Every Landlord's Tax Deduction Guide by Stephen Fishman J.D. | |
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Customer review from the Amazon Vine™ Program (What's this?) I have been sorely disappointed with Nolo's recent books. The books for legal issues for individuals are full of cliches, surface advice, and are generally very thin. I really get the sense Nolo is rushing items to market, with little concern for quality.
But this one is an exception, perhaps because it is a professional topic. My biggest complaint is that Nolo intentionally breaks up information to force you to buy multiple books, even though there is tremendous overlap (Every Landlord's Legal Guide, the Landlord's Law Book, First-Time Landlord, etc). So if you buy more than one book, you will definitely be getting redundant information. And, unlike other series (such as the Dummies Guides), they make no effort at all to include all pertinent information in just one book. My other suggestion is, if your fairly new to small business &/or real estate taxes, trying this book: Loopholes of the Rich. The book is mostly a rant about taxes, and a history of legal tax evasion ... but the last chapter contains a huge list of tax deductions for investors and business owners, that almost everyone overlooks. And, there are plenty of used copies available for just pennies (plus shipping). Or, since the important part is only about 10 pages long, maybe you can just use the "Look Inside" feature and copy down anything that is relevant to your situation. I would say that this book is a bit wordy, and most of the chapters are simply not applicable to most real estate investors. And I will add that most of these issues can be researched easily online. But for a 1-volume reference, this is pretty comprehensive. I have noticed I can't get the complete table of contents using the "Look Inside" feature, so here it is: 1. Tax Deduction Basics for Landlords * How Landlords Are Taxed * How Income Tax Deductions Work * How Property Ownership Affects Taxes * The IRS and the Landlord 2. Landlord Tax Classifications * The Landlord Tax Categories * Business Owner Versus Investor * Are You Profit Motivated? * Real Estate Dealers 3. Deducting Your Operating Expenses * Requirements for Deducting Operating Expenses * Operating Expenses That Are Not Deductible 4. Repairs * Repair Versus Improvement * The General Plan of Improvement Rule: A Trap for the Unwary * How to Deduct Repairs * Tips for Maximizing Your Repair Deductions 5. Depreciation Basics * Depreciation: The Landlord's Best Tax Break * Understanding the Basics * How to Depreciate Buildings * Depreciating Land Improvements * Depreciating Personal Property * When You Sell Your Property * Tax Reporting and Record Keeping for Depreciation 6. Maximizing Your Depreciation Deductions * Determining the Value of Your Land and Buildings * Segmented Depreciation 7. Interest * Interest Landlords Can (and Can't) Deduct * Mortgage Interest * Other Interest Expenses * Points and Prepaid Interest * Interest on Construction Loans * Loans With Low or No Interest * Loans on Rental Property Used for Nonrental Purposes * Keeping Track of Borrowed Money 8. Start-Up Expenses * What Are Start-Up Expenses? * Determining Your Business Start Date * Avoiding the Start-Up Rule's Bite * How to Deduct Start-Up Expenses * If Your Business Doesn't Last 15 Years * If Your Business Never Begins 9. The Home Office Deduction. * Qualifying for the Home Office Deduction * Calculating the Home Office Deduction * IRS Reporting Requirements * Audit-Proofing Your Home Office Deduction * Deducting an Outside Office 10. Car and Local Transportation Expenses * Deductible Local Transportation Expenses * The Standard Mileage Rate * The Actual Expense Method * Other Local Transportation Expenses * Reporting Transportation Expenses on Your Tax Return 11. Travel Expenses * What Are Travel Expenses? * Deductible Travel Expenses * How Much You Can Deduct * Maximizing Your Travel Deductions 12. Hiring Help * Deducting Payments to Workers * Employees Versus Independent Contractors * Tax Rules When Hiring Independent Contractors * Tax Rules for Employees * Hiring Your Family * Hiring a Resident Manager 13. Casualty and Theft Losses * What Is a Casualty? * Calculating a Casualty Loss Deduction * Disaster Area Losses * Casualty Gains * Tax Reporting and Record Keeping for Casualty Losses 14. Additional Deductions * Dues and Subscriptions * Education Expenses * Gifts * Insurance for Your Rental Activity * Legal and Professional Services * Meals and Entertainment * Taxes * Unpaid Rent 15. Vacation Homes. * The Vacation Home Tax Morass * Regular Rental Property * Tax-Free Vacation Home * Vacation Home Used as Rental Property * Vacation Home Used as Residence * Calculating Personal and Rental Use * Converting Your Home to a Rental Property 16. Deducting Rental Losses * What Are Rental Losses? * Overview of the Passive Loss Rules * The $25,000 Offset * The Real Estate Professional Exemption * Rental Activities Not Subject to PAL Real Property Rental Rules * Vacation Homes * Deducting Suspended Passive Losses * Tax Reporting for Passive Rental Losses * Strategies for Dealing With the Passive Loss Rules * At-Risk Rules * How to Deduct Rental Losses 17. Record Keeping and Accounting * Record Keeping Made Simple * Accounting Methods * Tax Years 18. All About Schedule E * Who Must File Schedule E? * Filling Out Schedule E * Schedule E Example 19. Claiming Tax Deductions for Prior Years * Reasons for Amending Your Tax Return * Time Limits for Filing Amended Returns * How to Amend Your Return * How the IRS Processes Refund Claims 20. Help Beyond This Book * Secondary Sources of Tax Information * The Tax Law * Consulting a Tax Professional
Customer review from the Amazon Vine™ Program (What's this?) Every Landlord's Tax Deduction Guide
(2009) [...] As a Certified Public Accountant and (albeit) not one who specialized in Taxes, I find this guide to be an extremely useful resource for landlords. The more you know the more you can assist your tax preparer. Knowing what you can deduct and keeping the proper records can be invaluable. While this guide is updated annually you should only have to read it thoroughly once, you can get annual updates at [...]. I highly recommend this guide for every person who has rental property or is thinking about getting into the rental property business. Gunner January 2010
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| 14. Black's Law Dictionary (Pocket), 3rd Edition | |
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| 15. Corporations: Examples & Explanations, Sixth Edition by Alan R. Palmiter | |
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| 16. Black's Law Dictionary, Standard Ninth Edition (Black's Law Dictionary (Standard Edition)) by Bryan A. Garner | |
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| 17. Legal Writing in Plain English: A Text With Exercises by Bryan A. Garner | |
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Too often, writers treat style manuals as if they were infallible--written on stone tablets by a divine author. Garner's book is not perfect and cannot be applied with a thoughtless rigor. As an appellate lawyer, I generally try to follow Garner's style, but sometimes it doesn't fit. The corporate lawyer who complained about the book did not read it closely enough. Garner opposes thoughtless attachment to legalese, but he acknowledges that sometimes legal writers have to use terms of art. He also urges writers to be concise. I don't know where the corporate lawyer got the idea that Garner advocates "two pages of easily accessible prose over two sentences of conventional drafting," but it is not from this book. Accept or reject Garner's advice as you wish, but thinking about clear writing will make you a better lawyer. Most of what Garner writes is common sense, but it's common sense legal writers often lack.
Most prestigious lawyers, law firms, and judges strongly favor Garner's plain-language approach to drafting. For example, the late Charles Alan Wright, a brilliant Supreme Court lawyer and noted author, called Garner "the world's leading authority on the language of the law." And the Texas Supreme Court enlisted Garner's aid in redrafting the Texas Rules of Appellate Procedure. So it's hard to believe that judges would generally prefer "conventional drafting" over the clear, accessible language that Garner advocates. The five five-star reviews of the book on this website came from a law professor, a practicing lawyer, a book reviewer, and two others who appear to be nonlawyers. I wondered if the anonymous New York corporate lawyer who gave the book a meager one star knew something that everyone else didn't. So I checked for reviews from highly respected sources. And I found that Harvard Law Review, the Law Library Journal, and Trial have all published very favorable reviews of this book. The plain-language drafting recommended in this book is widely viewed as beneficial, not only by nonlawyers, but also by highly skilled lawyers who seek to avoid ambiguity and litigation and who strive to improve the tarnished image of lawyers generally. I believe that Garner's approach would be condemned only by a few rich corporate lawyers who thrive by making themselves indispensable in drafting, translating, and later litigating the long, dense form contracts that they produce.
Furthermore, the reviewer needs to realize that Garner is not advocating that all legal writing be poetry. First and foremost, he advocates for clarity and precision. If the writer can also make it interesting to read (or even a joy to read), then more power to the writer. If you're a lawyer and hate seeing "WHEREAS" before each recital and prefer a simple sentence, Garner is the man for you.
I am an attorney in Texas, and I have attended two of Mr. Garner's legal-writing seminars. He is currently the leading authority on legal writing; he is also an engaging speaker. His approach is to eliminate legalese and to present a powerful and succinct message. This approach has a very practical foundation -- over the years, Mr. Garner has polled judges across the country to see which writing elements they prefer. This volume distills Mr. Garner's findings into a compact, 227-page format. The book also contains model documents -- a research memorandum, a legal motion, an appellate brief, and a business contract -- which serve as excellent reference tools for the legal practitioner. Put simply, if you don't subscribe to Mr. Garner's advice, you don't know how to write well. And this book is the best way yet to access to Mr. Garner's valuable insight. This book is an ESSENTIAL reference tool.
I am an attorney in Texas, and I have attended two of Mr. Garner's legal-writing seminars. He is currently the leading authority on legal writing; he is also an engaging speaker. His approach is to eliminate legalese and to present a powerful and succinct message. This approach has a very practical foundation -- over the years, Mr. Garner has polled judges across the country to see which writing elements they prefer. This volume distills Mr. Garner's findings into a compact, 227-page format. The book also contains model documents -- a research memorandum, a legal motion, an appellate brief, and a business contract -- which serve as excellent reference tools for the legal practitioner. Put simply, if you don't subscribe to Mr. Garner's advice, you don't know how to write well. And this book is the best way yet to access to Mr. Garner's valuable insight. This book is an ESSENTIAL reference tool.
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| 18. Business Associations, Cases and Materials on Agency, Partnerships, and Corporations (University Casebook) by William A. Klein, J. Mark Ramseyer, Stephen M. Bainbridge | |
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| 19. A Civil Action by Jonathan Harr | |
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| 20. How to Form a Nonprofit Corporation by Anthony Mancuso Attorney | |
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