Assuming the Risk : The Mavericks, the Lawyers, and the Whistle-Blowers Who Beat Big Tobacco
Average customer rating: 4.5 out of 5 stars
  • Insightful!
  • Great!
  • Superb Story With Little Heroes And Lots Of Lying Everywhere
Assuming the Risk : The Mavericks, the Lawyers, and the Whistle-Blowers Who Beat Big Tobacco
Michael Orey
Manufacturer: Little, Brown and Company
ProductGroup: Book
Binding: Hardcover

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ASIN: 0316664898

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Mississippi is not widely known for being first in anything; in fact, Michael Orey notes in Assuming the Risk, the state ranks last or near last on an embarrassing array of scales. And yet, he writes, it was in the courtrooms of this disparaged Southern state that a pioneering team of lawyers led the way in a politically controversial crusade against the tobacco industry. Mississippi was the first state in the nation to sue cigarette manufacturers to recover smoking-related health care costs incurred by the state's Medicaid program. The fierce legal battle resulted in a multibillion-dollar settlement and eventually led to hundreds of billions of dollars in fines levied against the tobacco industry when other states followed suit.

Though decidedly pro-plaintiff, Assuming the Risk is not another vituperative rant against the Evil Empire of Big Tobacco: Orey does not shout and stomp on his soapbox. Instead, the veteran legal journalist and Wall Street Journal editor coolly focuses on the objective facts, presenting the who, what, where, and when of a complex and contentious litigation. His well-researched and detailed narrative spotlights the key figures in this real-life morality play--the mavericks, lawyers, and whistleblowers--including one particularly revealing chapter on Jeffrey Wigand, a former research scientist for the tobacco firm Brown & Williamson, whose decision to break a confidentiality agreement by speaking with 60 Minutes investigative reporter Mike Wallace became the subject of the 1999 film The Insider. --Tim Hogan

Book Description

Mississippi is not widely known for being first in anything; in fact, Michael Orey notes in Assuming the Risk, the state ranks last or near last on an embarrassing array of scales. And yet, he writes, it was in the courtrooms of this disparaged Southern state that a pioneering team of lawyers led the way in a politically controversial crusade against the tobacco industry. Mississippi was the first state in the nation to sue cigarette manufacturers to recover smoking-related health care costs incurred by the state's Medicaid program. The fierce legal battle resulted in a multibillion-dollar settlement and eventually led to hundreds of billions of dollars in fines levied against the tobacco industry when other states followed suit.Though decidedly pro-plaintiff, Assuming the Risk is not another vituperative rant against the Evil Empire of Big Tobacco: Orey does not shout and stomp on his soapbox. Instead, the veteran legal journalist and Wall Street Journal editor coolly focuses on the objective facts, presenting the who, what, where, and when of a complex and contentious litigation. His well-researched and detailed narrative spotlights the key figures in this real-life morality play--the mavericks, lawyers, and whistleblowers--including one particularly revealing chapter on Jeffrey Wigand, a former research scientist for the tobacco firm Brown Williamson, whose decision to break a confidentiality agreement by speaking with 60 Minutes investigative reporter Mike Wallace became the subject of the 1999 film The Insider. --Tim Hogan

Customer Reviews:

4 out of 5 stars Insightful!.......2001-09-19

Michael Orey begins his thorough examination of the courtroom battles against big tobacco by examining Horton v. American Tobacco, the Mississippi case that launched the mid-1980s barrage of legal attacks on big tobacco and led eventually to U.S. settlements of more than $200 billion. As they read about the assault on Brown and Williamson, cinema buffs may feel they are revisiting The Insider with Al Pacino. The book combines a walk-through of the day-to-day legal procedures and motions with a look into the lives of the major players. This well-written volume presents the tobacco case like an engrossing true-crime story, although some readers may find it has too much detail to hold their interest. We [...] recommend this fascinating book to most general readers. But while executives searching for principles to apply to their own companies may find themselves captivated, they won't find much here that is generally applicable.

5 out of 5 stars Great!.......2000-07-27

It may seem paradoxical to most that for trial lawyers are not afraid to lose a case. Every trial is a learning experience. You learn about your opponent; you learn about yourself. You try a losing case over and over in your head at night. You learn from your mistakes. You learn from the opposing lawyer. You become obsessed and through it all you learn how to win.

This is the true story of some country lawyers in Mississippi who launched a holy war against Big Tobacco. They were unlikely Davids battling a Goliath.

The country lawyers looked like easy pickings to the big firm lawyers from the big cities. The silk stocking crowd would bury them in paper, bankrupt them in endless discovery, and outdazzle them in court, if the bumpkins ever got that far. These champions of nicotine had never lost a case. The clients had never paid one dime to any tobacco victim. They were the chosen ones, selected to keep the streak alive, to bring home the scalps of the piteous Mississippi lawyers.

Trial lawyers know that a lawyer who has never lost a case has never tried a case. Undeterred by the myth of invincibility of the tobacco industry these dreamers were able to use the industry's incredible arrogance on itself to bring it to its knees. In short, the truth got out, and the rest is history.

If you are a law student or a young lawyer thinking about trying cases for a living, read this book. This is how its done and how you can sleep at night.

4 out of 5 stars Superb Story With Little Heroes And Lots Of Lying Everywhere.......1999-09-14

What an interesting recording how Lawyers violate their own standards of conduct just to win. The book shows how documents about Tobacco were stolen and then how the person who stole them was paid $1.8 million by the very Lawyers he helped to win billions for in fees. Yet, I wondered what those same Lawyers would have the same tactics used against them, how they would feel. But the cause was to show that smoking Cigarettes is evil and not good for our health, yet we already knew this and making the companies admit it was a victory. So in the end whenever someone is being sued and if we applaud those breaking ethics and the laws in pursuit for justice, then we encourage bad behavior. In the end when we celebrate this kind of action how far can murder, threats of murder and destruction's of families will be justified in pursuit of justice? Billions have been made, billions have been won, but by whom and for whom? No one should be proud of their actions as described in the book and if they are they can wonder later what will happen when others use the same tactics are them. What is tragic is Society knew shortly after the Native Americans gave Tobacco to Columbus that it was deadly, but people wanted it, and used it, so the governments created Sin Taxes to help discourage it. It did not work back then and it will not work now. People will be free to do what they want and nothing will stop it. At the same time, no one should begin to smoke or smoke but how do you stop it. The book is a great read. I recommend it highly but read it without smoking if you can!
Beyond Sarbanes-Oxley Compliance: Effective Enterprise Risk Management
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    Beyond Sarbanes-Oxley Compliance: Effective Enterprise Risk Management
    Anne M. Marchetti
    Manufacturer: Wiley
    ProductGroup: Book
    Binding: Hardcover

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    3. Manager's Guide to Compliance: Sarbanes-Oxley, COSO, ERM, COBIT, IFRS, BASEL II, OMB's A-123, ASX 10, OECD Principles, Turnbull Guidance, Best Practices, and Case Studies (Manager's Guide Series) Manager's Guide to Compliance: Sarbanes-Oxley, COSO, ERM, COBIT, IFRS, BASEL II, OMB's A-123, ASX 10, OECD Principles, Turnbull Guidance, Best Practices, and Case Studies (Manager's Guide Series)
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    5. Making Enterprise Risk Management Pay Off: How Leading Companies Implement Risk Management Making Enterprise Risk Management Pay Off: How Leading Companies Implement Risk Management

    ASIN: 0471726265

    Book Description

    Designed to lead financial managers from initial compliance with the Sarbanes-Oxley Act, through ongoing maintenance and monitoring, Beyond Sarbanes-Oxley Compliance helps readers seize this opportunity to revitalize their business practice, drive greater performance, and transform their finance organization into a key contributor to the business. Focusing on the present and future financial road ahead, Beyond Sarbanes-Oxley Compliance explores how to implement enterprise risk management processes that comply with Sarbanes-Oxley 302/404/409 requirements, ways to build on initial compliance activities that will improve financial management processes and profitability, compliance and quarterly close checklists, timelines, and table summaries to help readers achieve their goals, and much more.

    Download Description

    "Using regulatory compliance to improve processes and enhance the bottom line

    Once you establish compliance with Section 404 of the Sarbanes-Oxley Act, what's next? Beyond Sarbanes-Oxley Compliance guides corporate financial officers and accountants through requirements and value-added activities in enterprise risk management in the post-Sarbanes environment. It demonstrates how to monitor and maintain strong internal control systems within finance and accounting operations. Next, it reveals how to leverage the knowledge harvested through regulatory compliance to improve financial management and make the organization more profitable. Bristling with new ideas on how to identify and mitigate threats to enterprise objectives, this innovative guide shows readers how to build on initial compliance activities to improve financial management processes and profitability."
    Construction Insurance, Bonding, and Risk Management
    Average customer rating: 5 out of 5 stars
    • Construction Insurance, Bonding, and Risk Management
    Construction Insurance, Bonding, and Risk Management
    William J. Palmer , James M. Maloney , and John L. Heffron
    Manufacturer: McGraw-Hill Professional
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    ASIN: 0070485941

    Book Description

    Don't let a construction lawsuit wipe you out. More and more construction contractors are getting sued these days. Make sure you protect yourself against costly litigation with Construction Insurance, Bonding and Risk Management edited by William J. Palmer, James Maloney, and John L. Heffron. Written in jargon-free language, this quick-and-easy resource will help you identify and manage risk in every phase of construction--from bidding on the job to driving home the final nail. You get the know-how you need to make sense of today's confusing array of insurance and bonds and to select the best coverage for your general business operations, individual contracts, job bidding and more.

    Customer Reviews:

    5 out of 5 stars Construction Insurance, Bonding, and Risk Management.......2007-01-11

    I founding this book most informative and would reccommend it to any person within my sphere of bussines.
    The 22 Immutable Laws of Marketing:  Violate Them at Your Own Risk!
    Average customer rating: 4 out of 5 stars
    • Trout and Ries write the laws on marketing
    • Timeless laws
    • Still A Great Book
    • "Great Place to start for the beginner".
    • As marketing professional
    The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk!
    Al Ries , and Jack Trout
    Manufacturer: HarperBusiness
    ProductGroup: Book
    Binding: Paperback

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    4. Differentiate or Die: Survival in Our Era of Killer Competition Differentiate or Die: Survival in Our Era of Killer Competition
    5. Selling the Invisible: A Field Guide to Modern Marketing Selling the Invisible: A Field Guide to Modern Marketing

    ASIN: 0887306667

    Book Description

    Two world-renowned marketing consultants and bestselling authors present the definitive rules of marketing.

    Customer Reviews:

    4 out of 5 stars Trout and Ries write the laws on marketing.......2007-09-27

    Using actual examples and sharp analysis, Al Ries and Jack Trout offer 22 "laws" that amount to a basic, concise distillation of their marketing experience and wisdom. Their examples are pithy enough to keep the most jaded marketing person engaged. And their lessons are embedded verities that would be hard to dispute. The only drawback is that this classic may be a bit dated, so it is interesting to see how surprisingly well some of their original observations have fared over the years. We recommend this classic to anyone seriously interested in marketing. After all, you can't ignore the law.

    5 out of 5 stars Timeless laws.......2007-07-14

    Although this book is rather old, and was written before the online era, these marketing laws are timeless and should be etched in to the mind of every marketer. Highly recommended, even in 2007.

    5 out of 5 stars Still A Great Book.......2007-05-20

    Although it was written in 1994, this book holds strong as an good resource for marketing professionals. It is a fun and fast read that will get you focused on what you need to be doing to be a successful marketer.

    4 out of 5 stars "Great Place to start for the beginner"........2007-05-11

    This book was fun to read. It is straight to the point, a quick read, easy to follow and written for the novice or expert with lots of meaningful contents, great ideas and examples. It is not a book that will leave you confused, it will leave you with a full understanding of what it takes to be successful in marketing. This book is not going to turn you into a marketing guru over night. "Marketing situations are subject to a zillion of circumstances" as Alexander Repiev puts it. This is just a primer on the subject. However, this book's concept is very faddish. It is very contradictory and deceptive as some of the laws depict, but by the time most people realize it they would have already spent their money on the book.

    5 out of 5 stars As marketing professional.......2007-03-30

    As an online marketing professional for an internet web design company, I found this relatively old book to be quite useful in the online arena. This book is a quick read much like their other books. If you are a marketing professional, or an assistant to a marketing professional, or in school dreaming of becoming an assistant to a marketing professional, or just now applying to schools to study to be an assistant to a marketing professional, then this book would prove to be invaluable. As with many of their books, it's a quick read and you almost wonder why you spent the money. I suggest you get it used or combined with some kind of deal. Although it is an excellent book, it's not the type of book you have to get right away. Wait until there is some kind of sale, or super saver discount, or "borrow" it from your neighborhood library.
    Risk Analysis and the Security Survey
    Average customer rating: 4 out of 5 stars
    • Review after using Risk Analysis and the Security Survey
    • clear direction on putting together a security survey
    Risk Analysis and the Security Survey
    James F. Broder
    Manufacturer: Butterworth-Heinemann
    ProductGroup: Book
    Binding: Hardcover

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    ASIN: 0750670894

    Book Description

    Risk Analysis and the Security Survey, Second Edition provides an understanding of the principles of risk analysis to security students and professionals, which will help them produce more effective, results-oriented security surveys geared to the ever-changing needs of the organization. This new edition provides the readers, professional and practitioners alike with new information essential to meeting their professional obligations with regard to crisis management planning, business continuity planning, disaster response and recovery as well as many other issues facing the security industry today. This book is a "must have" for all security professionals studying risk analysis and loss control.


    The most fundamental philosophy of risk control, design and implementation is to make the security program as self-sufficient as possible in all matters pertaining to security. This includes the two-sided coin of risk control: (1) the protection of assets by identifying, analyzing and prioritizing the risk, and (2) contingency and disaster recovery planning.

    Business Impact Analysis (BIA) which covers Project Planning, Data Collection, Data Analysis and Report of Findings,Prediction of Criminal Behavior
    Updated statistical information and practical case examples
    Geared to help professionals and students produce more effective results-oriented security surveys

    Customer Reviews:

    3 out of 5 stars Review after using Risk Analysis and the Security Survey.......2003-04-25

    I bought the book to use as a reference while doing my very first risk analysis. It helped me a lot with my project. I found it easy to read and use as a reference. I used the format in the book as a guide when writing up the risk analysis I did.

    If you haven't done one before and are looking for a good reference guide, this is a great resource.

    5 out of 5 stars clear direction on putting together a security survey.......2002-08-14

    I have prepared several security surveys throughout the last couple of years and have always found that they were missing something. Once I started looking through this book I was given clear direction on the useful information required when conducting a security survey.
    This book describes all the main sections required for a security review: Scoop of the project, organization assesment and requirements, physical security, internal controls, data system and records, emergency planning, and proprietary information, business impact analysis, survey questionary, etc.
    This book goes into details on planning and analysis but does not give detailed techniques on aquireing information or what an effective security system looks like. It assumes the reader has a strong security background and is able to handle the details of investigation, interviewing, testing and evaluation. This book only touches on these topics.
    The Design and Evaluation of Physical Protection Systems
    Average customer rating: 4.5 out of 5 stars
    • I am please, with the book condition and delivery!!
    • Excelent and Practical!!
    • The Design and Evaluation of Physical Protection Systems
    The Design and Evaluation of Physical Protection Systems
    Mary Lynn Garcia
    Manufacturer: Butterworth-Heinemann
    ProductGroup: Book
    Binding: Paperback

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    ASIN: 0750673672

    Book Description

    The Design and Evaluation of Physical Protection Systems guides the reader through the entire process of security system design and integration, illustrating how the various physical and electronic elements work together to form a comprehensive system. A great resource for both the security professional and student alike, the book is arranged in three major parts:

    1) Determining the objectives
    2) Designing the system
    3) Evaluating the system

    The book emphasizes the use of component performance measures to establish the effectiveness of physical protection systems, applying scientific and engineering principles to meet goals. The author takes a problem-solving approach to security and risk assessment, explaining the use of electronic protection elements and demonstrating how these elements are integrated into an effective system.

    The Design and Evaluation of Physical Protection Systems contains numerous illustrations of concepts throughout and includes chapter summaries reviewing the salient topics covered. Each chapter includes appropriate references to additional information as well as review questions to test the reader's grasp of key chapter concepts. The appendices include sample models for system performance analysis.

    Describes the process for estimating system performance against threats.
    Approaches security in a practical, systematic manner based on proven and tested measures.
    Offers process-oriented security that is "user friendly" to both the novice and the seasoned professional.

    Customer Reviews:

    4 out of 5 stars I am please, with the book condition and delivery!!.......2006-08-24

    I requested the book to be expedite and it arrived as expected. The book was in great condition. I am very satisfied with this purchase.

    5 out of 5 stars Excelent and Practical!!.......2002-04-07

    This book not only gives you a broad idea of what security is, but is very practical using it in your work, e.g. risk analysis. It is helping me a lot.
    Best Buy!

    5 out of 5 stars The Design and Evaluation of Physical Protection Systems.......2001-10-03

    The recent tragedy of New York and Washington has emphasised the considerable need for this excellent book on physical security. Mary Lynn Garcia is to be congratulated on producing a book on physical protection systems that is design-based and is driven by principle rather than application. As a senior member of the technical staff at Sandia National laboratories, Mary Lynn Garcia is well placed to have knowledge of best practice in design of systems, and the development of principles of asset protection. This book is markedly unique from other security publications on the market as it provides a well-structured and rigorous discussion of the major components of the principles of the protection of assets. The book entitled The Design and Evaluation of Physical Protection Systems by Mary Lynn Garcia has raised the standard of security references and texts to new quantum levels of quality and detail.

    The design and evaluation process for physical protection systems is presented early in the book and provides astructured approach to the protection of assets. I am personally pleased to see that the defence in depth strategy of detection, delay and response has been applied as the foundation for the structured approaches to asset protection. The chosen approach features the major components of System Objectives, Design of Physical Protection Systems, and Analysis and Evaluation. This structure has the capacity to direct the readerr in a systematic and logical manner to the desired outcomes of the defence in depth strategy. A detailed account of the systematics of asset protection allows a well=balanced account of theory and application to be presented. An attractive feature of the book is the discussion on the computer analytical models for analysis, and the relationship of risk assessment to asst protection outcomes. The book contains review questions at the conclusion of each chapter, a glossary of terms for the unfamiliar reader, and several appendices of useful information relating to threat and analysis of risk.

    ...This book will prove to be most valuable for a range of academic, managerial, and practitionar personnel who have responsibility for asset protection, and should be in all major libraries and acquired by everyone with an interest in physical security.

    Dr Clifton Smith
    Associate Professor
    Edith Cowan University
    Perth, Western Australia
    The Hedge Fund Compliance and Risk Management Guide (Wiley Finance)
    Average customer rating: 1 out of 5 stars
    • The publisher has some explaining to do
    The Hedge Fund Compliance and Risk Management Guide (Wiley Finance)
    Armelle Guizot
    Manufacturer: Wiley
    ProductGroup: Book
    Binding: Hardcover

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    ASIN: 0470043571

    Book Description

    The Hedge Fund Compliance and Risk Management Guide provides you with a broad examination of the most important compliance and risk management issues associated with today’s hedge funds. Straightforward and accessible, this invaluable resource covers everything from how hedge funds continue to generate lucrative returns to why some use sophisticated instruments and financial engineering to get around fundamental regulatory laws.

    Customer Reviews:

    1 out of 5 stars The publisher has some explaining to do.......2007-09-11

    I don't own the book. But I just received the latest issue of GARP Risk Review which features an article by the esteemed Aaron Brown (he has an Amazon weblog). Before you dare spend $95 on the book, please read his review. In a generous act of professionalism, he offers a detailed critique that ends with "If Wiley can get away with this in risk management, we are not a profession." The problem is not that the book is bad or that it does not reflect its title, not even that it has not been edited. Rather, Brown itemizes why the book's contents are largely "downloaded from the internet or taken from unpublished papers that are of little or no relevance to the topic." In short, the author and the publisher need to explain themselves and issue refunds to buyers. I read a lot of hedge fund books for work and this is not an isolated case: some publishers pick hot topics in finance (hedge funds, credit derivatives), where the price points are really high (you have $125/$150 books in this category), then they rush "products" to market where much of the content is simply copied from previous sources.
    Risk and Reason: Safety, Law, and the Environment
    Average customer rating: 4 out of 5 stars
    • A short review of 'Risk and Reason'
    • Political
    • Insights Into Rational Risk Management for IT Professionals
    • Huge Helping of Reason, Needs Salt
    Risk and Reason: Safety, Law, and the Environment
    Cass R. Sunstein
    Manufacturer: Cambridge University Press
    ProductGroup: Book
    Binding: Paperback

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    1. Laws of Fear: Beyond the Precautionary Principle (The Seeley Lectures) Laws of Fear: Beyond the Precautionary Principle (The Seeley Lectures)
    2. Risk: A Practical Guide for Deciding What's Really Safe and What's Really Dangerous in the World Around You Risk: A Practical Guide for Deciding What's Really Safe and What's Really Dangerous in the World Around You
    3. The Perception of Risk (Earthscan Risk and Society Series) The Perception of Risk (Earthscan Risk and Society Series)
    4. Junk Science Judo: Self-Defense against Health Scares and Scams Junk Science Judo: Self-Defense against Health Scares and Scams
    5. Catastrophe: Risk and Response Catastrophe: Risk and Response

    ASIN: 0521016258

    Book Description

    What should be done about airplane safety and terrorism, global warming, polluted water, nuclear power, and genetically engineered food? Decision-makers often respond to temporary fears, and the result is a situation of hysteria and neglect--and unnecessary illness and death. Risk and Reason explains the sources of these problems and explores what can be done about them. It shows how individual thinking and social interactions lead us in foolish directions. Offering sound proposals for social reform, it explains how a more sensible system of risk regulation, embodied in the idea of a "cost-benefit state," could save many thousands of lives and many billions of dollars too--and protect the environment in the process. Cass R. Sunstein is the Karl N. Llewellyn Distinguished Service Professor at the University of Chicago. Appointed by President Clinton to serve on the Advisory Committee on the Public Interest Obligations of Television Broadcasters. His many books include Republic.com (Princeton, 2001) and Designing Democracy (Oxford, 2001). He has worked in the United States Department of Justice and advised on law reform and constitution-making in many nations.

    Customer Reviews:

    4 out of 5 stars A short review of 'Risk and Reason'.......2004-08-08

    It is sometimes referred to as "emotional decision making", when after accidents which cause loss of life, government authorities decide to spend irrational huge budgets to try to prevent these accidental risks from happening again. This 2002-book of Prof. Sunstein from the U of Chicago explains the sources of such irrational behaviour and comes up with novel ideas what can be done about it. This book contains a great deal of new material, but it also draws on Sunstein's publications in the J of Risk and Uncertainty, Stan L Rev., and his 2001-book 'The cost-benefit state', amongst others.

    The book gives the reader a lot of recent case studies, such as the sniper murders in the Washington DC area in fall 2002, the SARS epidemic, the Love Canal controversy in the 80s, as illustrations of people's unjustified fear, which in the same time neglects the real hazards, such as obesity, indoor air pollution, sun exposure, etc.

    Risk and Reason advocates the government to produce cost benefit analyses (CBA) before choosing an emotional course of action. Sunstein argues in his book to see CBA as a pragmatic tool, designed to promote a better appreciation of the consequences of a certain regulation, rather than a form of unethical, barely human calculation, treating health and life as variables for some kind of huge maximising objective function. The author succeeds in delivering this message to the reader very well.

    Sunstein urges toward four alternative strategies in optimal cost-saving risk regulation: disclosure of information to the public, economic incentives, risk reduction contracts and free market environmentalism. With the economic incentives he means financial penalties for harm producing behaviour, and tradable emission rights (similar as the Kyoto protocol is designed to reduce global warming. The alleged fact that risk creators might be given a right to create harm is shown to be false.

    1 out of 5 stars Political.......2003-08-14

    Sunstein is a lawyer. He is neither a scientist nor an economist. His advocacy of (what he calls) "rational" and "scientific" models of risk evaluation appears to be motivated by politics, not good science or economics. Be wary of his methodology and his rigor.

    5 out of 5 stars Insights Into Rational Risk Management for IT Professionals.......2003-01-18

    While this book focuses on government regulation of health and environmental risks (regulation is government-speak for risk management), IT risk managers can learn a lot about IT risk management from the book. For example, Chapter Three is entitled "Are Experts Wrong?", which will tell you why you need to be cautious about adopting "Best Practices." Chapter Five is entitled "Reducing Risks Rationally," just what every risk manager should be striving to do. Sunstein makes a very convincing case for the value of cost benefit analysis in managing risks. If you are responsible for risk management, get this book and read it.

    5 out of 5 stars Huge Helping of Reason, Needs Salt.......2002-12-02


    The bottom line on this book is clear: our governance of risk to the public tends to be managed by political gut reaction rather than informed investigation; there is no clear doctrine for studying and articulating risk (for example, distinguishing between high risks to a few and low but sustained risks to the many, or between three levels of cost-benefit analysis so that choices can be made); and the best form of risk management may be through the effective communication of risk information to the public rather than imposed costs on private sector enterprises.

    As reasoned as the book is, it also constitutes a direct attack on all those who expouse the "precautionary principle." While I do not agree completely with the author, who seems to feel that rational study allows for the discounting of any risk to the point where it can be economically and politically managed at an affordable cost, he certainly take the debate to an entirely new level and his book is--quite literally--worth tens of billions of dollars in potential regulatory risk savings.

    Most compelling is his methodical aggregation of data from several sources to show that the cost of saving one life (he notes that we fail to distinguish adequately between a life saved for a few years and a life saved for many years, or between young lives saved for a lifetime and old lives saved for a brief span of time). Table 2.1 on page 30 is quite astonishing--of 45 major regulated risks, one (drinking water) costs over $92 billion per premature death averted; eight including asbestos cost between $50 million and $4 billion; seven including arsenic and copper cost between $13 million and $45 million; 14 including various electrical standards cost between $1 million and $10 million per death averted; and 15 cost less than $1 million per death averted.

    What cost human life? Even on this there is no standard, and even within a single regulatory agency (e.g. the Environmental Protection Agency) there are different calculations used in relation to different risks being regulated. The author does a really fine job of comparing the public perception of the value of a life saved ($1.3 million for automobile-related risks, $103 million for aviation-related risks) with the values used by the government and the courts, which vary widely (into the billions) but seem to hover between $10 million and $30 million per life saved and without regard the the number of life-years actually involved.

    The heart of the book is in its conclusion, where the author proposes a four-part strategy for dramatically reducing the cost of regulatory risk management, suggesting that we focus on 1) disclosure of information to the public; 2) economic incentives; 3) risk reduction contracts; and 4) free market environmentalism. With respect to the latter, he is strongly supportive of allowing the "sale" of pollution privileges between nations and industries and companies.

    For additional observations on reducing risk to the future of life see my reviews of Joe Thorton on "Pandora's Poison," Raffensperger and Tickner on "Protecting Public Health & The Environment," Novacek on "The Biodiversity Crisis," Czech on "Shoveling Fuel for a Runaway Train," Lomberg on "The Skeptical Environmentalist," Helvarg on "Blue Frontier," and Wilson's "The Future of Life."

    Cass Sunstein and Lawrence Lessig join Jerry Berman and Marc Rotenberg and Mike Godwin as America's "top guns" in responsible law-making. This book makes a great deal of sense, is worth a great deal of money, and should guide the future evolution of regulatory and information-driven risk management.
    Risk Management for Security Professionals
    Average customer rating: Not rated
      Risk Management for Security Professionals
      Carl Roper
      Manufacturer: Butterworth-Heinemann
      ProductGroup: Book
      Binding: Hardcover

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      ASIN: 0750671130

      Book Description

      This book describes the risk management methodology as a specific process, a theory, or a procedure for determining your assets, vulnerabilities, and threats and how security professionals can protect them.
      Risk Management for Security Professionals is a practical handbook for security managers who need to learn risk management skills. It goes beyond the physical security realm to encompass all risks to which a company may be exposed. Risk Management as presented in this book has several goals:
      Provides standardized common approach to risk management through a framework that effectively links security strategies and related costs to realistic threat assessment and risk levels
      Offers flexible yet structured framework that can be applied to the risk assessment and decision support process in support of your business or organization
      Increases awareness in terms of potential loss impacts, threats and vulnerabilities to organizational assets
      Ensures that various security recommendations are based on an integrated assessment of loss impacts, threats, vulnerabilities and resource constraints


      Risk management is essentially a process methodology that will provide a cost-benefit payback factor to senior management.

      Provides a stand-alone guide to the risk management process

      Helps security professionals learn the risk countermeasures and their pros and cons

      Addresses a systematic approach to logical decision-making about the allocation of scarce security resources
      Environmental Site Assessment Phase I: A Basic Guide, Second Edition
      Average customer rating: Not rated
        Environmental Site Assessment Phase I: A Basic Guide, Second Edition
        Kathleen Hess-Kosa
        Manufacturer: CRC
        ProductGroup: Book
        Binding: Hardcover

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        ASIN: 1566702712

        Book Description

        An environmental site assessment performed now will reduce the possibilities for liability claims and mandatory cleanup later. This Second Edition approaches environmental site assessment as an ever-evolving process, providing updated information on regulatory definitions, environmental regulations, and federal sources of information. Like the previous edition, this book allows the reader to

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