When to take a severance package

 In the end there is once dance you’ll do alone

 -Jackson Browne 

 In  1991,  the IBM plant in Lexington, Ky. became Lexmark.   IBM offered  employee  severance packages.   People could take the package or take a chance that Lexmark would keep them on.

 Several IBM employees came to me for advice.   Some took the package and others did not.   After seeing that, I concluded that taking a  package is an individual decision.  There are no set guidelines.

 Many of the IBM employees  were engineers or had heavy statistical backgrounds.  They wanted an answer they could quantify.  They sought me to calculate the present value of their package.

 After 30 seconds crunching the numbers, I asked the essential question: What are you doing to do with the rest of your life?

How to Pick a Kentucky Derby Winner

When your sitting back

In your rose pink Cadillac

Making bets on Kentucky Derby Day

 -Rolling Stones

 As the son of a son of a gambler, people ask me for betting advice.   

Although I started going to race track before I was able to walk, I don’t know that much about the horse industry.   I go the track a few times a year and bet small amounts.

Most of my equine   knowledge was gleamed when I worked on the clean up crew at the Kentucky Horse Park.  I can tell you what horses make the biggest mess.

Although there are people more qualified to give Derby tips,  like political or financial commentators, I won’t let lack of expertise stop me.

I came to the conclusion in the mid 1980’s that I wanted to live my life  in Kentucky, I needed to know how to bet on horses.   

 I found a book called Racetrack Betting: The Professors' Guide to Strategies by Peter Asch  and Richard E. Quandi.

It was written by two statistics professors and not the easiest book to read.   I can sum up the advice in two statements.

1. Bet on the horse that everyone else is betting on.  2. Bet on the horse to show, not to win or place.

 
“It’s amazing.  With the blink of an eye you finally see the light.
 

-Aerosmith

Legendary Kentuckian Al Smith came to visit me  last week. 

 For a guy who is supposedly retired, Al stays awfully busy. 

 After retiring in November from a 33 year run as host of Comment on Kentucky, Al spent the winter in Florida. He is working on his autobiography and promoting causes he believes in.  

 Al is Chairman of the Advisory Board for Institute for Rural Journalism and Community Issues.   Is it an outstanding program, based at the University of Kentucky, and Al’s been beating the bushes to help the program get money and recognition.

 During a long dinner, Al mentioned that every minute of his upcoming week was completely booked. Every breakfast, lunch and dinner.    He is going almost 24 hours a day.

Rock & Roll and the Success Effect

 “Music can be such a revelation.”

 -Madonna

 A person’s taste in music and books tells me a lot about who they are.

 When John Eckberg, business reporter and columnist for the Cincinnati Enquirer, wrote The Success Effect, (Sterling and Ross Publishers)   he interviewed Donald Trump, Jerry Springer and over 40 other successful business people.  Eckberg showed us the traits that helped these successful people get to where they are today.

 He also asked them what CDs were in their CD changer and what books were on their nightstand.

 I am fascinated by what people  listen to and what  they are reading.  Common musical tastes allow me to connect with people I might otherwise disagree.