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Bookshelf You know you're in for a fun ride when a book opens by saying, "The Internet Age, like most industrial epochs, was belatedly discovered by the hoi polloi because ... it revolved around not only arcane technolo- gy but atypical, almost maniacal financing." In Underwriting the Internet, Kean University professor Leslie S. Hiraoka offers many such acid and entertaining observations. Oracle, Sun, and AOL form the "cabal ofMicrosoft opponents," while the slow-moving IBMis referred to as the "ancien régime." The perfectly pitched humor is only one of the joys of this book, which gives a thorough, detailed history of the Internet—and who funded it— and how that has translated into the rise and fall of tech stocks. Hiraoka covers the origins, setbacks, and growth of pivotal companies such as Microsoft, Sun, Amazon.com, eBay, and Netscape, while firmly placing the Internet evolution within histori- cal, political, and technological con- texts. The good news is, despite all the ravages done to technology by the dot-com crash, Hiraoka sees much to inspire marvel. He writes, "In retrospect, the greed and hubris of entrepreneurs, venture capitalists, Wall Street stock analysts, and invest- ment bankers should not overshadow the accomplishments of the Internet Age that saw the massive develop- ment of the new medium's infra- structure." (M.E. Sharpe, $27.95) It takes a certain baseline understanding of finance to comprehend The SecuritizationMarkets Handbook by Anne Zissu, a professor at Temple 58 BizEd MAY/JUNE 2005 University, and Charles A. Stone. But for those fascinat- ed by mort- gage- and asset-backed securities, this is the book to pick up. In thorough detail, the authors discuss both the supply and the demand sides of the market—starting with how mort- gage-backed securities evolved, going on to analyze valuations of interest- only and principal-only securities, presenting case studies of companies such as FordMotor Company's use of securitization, looking at credit card plans, and touching on invest- ment and speculation in the field. In the U.S. in 2002, the authors note, "total household mortgage debt was $605 trillion." That's a vast amount; Zissu and Stone help readers under- stand how it can be harnessed. (Bloomberg Press, $75) Most businesses operate in "red oceans," crowded seas bloodied by competi- tion. To be really successful, compa- nies need to find or create "uncon- tested market space that makes the competition irrelevant." So say W. Chan Kim and RenéeMauborgne in Blue Ocean Strategy, which not only explains how companies can find those untroubled waters but how they can keep the business afloat once they've arrived. Among the analytic tools the authors offer is the "four actions framework." This prods business leaders into considering how to challenge the existing mar- ket for a product or service by determining which cur- rent factors should be eliminated, reduced below standard, raised above standard, and created anew. Companies can use a "strategy canvas" to determine the factors that currently define their markets—and which ones they can profitably change. Examples of successful blue ocean companies, fromCirque du Soleil to Australian winery CasellaWines, help make it very clear how well these tech- niques work and how they can be implemented in almost any industry. (Harvard Business School Press, $27.95) There are many different gauges for measur- ing company per- formance, but con- sistent growth is a pretty good one. Jason Jennings identified nine com- panies that increased revenues and profits by 10 percent or more each year for ten years or longer, then interviewed the leaders to find out the secrets to their success. The true key is revealed in the book's title, Think Big, Act Small, but Jennings offers a deeper look into the heart of each company. He finds that all the CEOs are down-to-earth individuals with no pretentious egos; they all stay involved with day-to-day work at the company; they don't focus so much on the future that they forget to pay attention to the present needs of the company; they know how to let go of unprofitable lines; and they create a culture that turns all employees into entrepreneurs. There are more nuggets on every page, of course, but the overwhelming message is clear: Think like a small- business owner who is