Monthly Archives: April 2010

Book Review – 053803: Life at Fifteen by Robert J. Gagnon

053803 Life at Fifteen

by Robert J. Gagnon

R J Gagnon Publishing; 336 pages; US $14.95 (Kindle eBook)

15 year-old Robert Gagnon needed to kick his drug and alcohol addiction. He decided that by robbing a bank, he would get the assistance he needed so badly. As a young offender, he thought he might have to stay in jail for a few months and he then could start over again. It was December 19, 1975.

Only nothing turned out as he planned. He ended up serving 10 years in an adult prison before he was released in 1985. He grew up in the correctional institutions of the State of Florida.

Gagnon was deemed to dangerous to be placed with other young offenders. Being placed among hardened criminals, 15-year-old Gagnon needed to learn fast and act quickly to survive. So begins this epic story of survival, friendship, and life.

Although the book was written long after Gagnon’s release, the narrative is compelling and the plot page-turning. Gagnon projects his memory onto the pages as accurately as he can and invits the readers to watch the show with him.

During his 10 years in prison, Gagnon transformed from an insecure young man to a content small engine repairman. Details of an inmate’s daily routine are intimately scripted – the chores, the politics, the racism, the sex – they were all there. Gagnon’s story is candid, frank, and sometimes appalling but always fascinating. The inner demons, the insecurity, the anxiety, and the fear of a convict are shared with the readers without reservation.

While Gagnon makes no apologies for what he had to do to survive in jail, readers can feel his remorse and desire to redeem himself as the story carries on.

The book is written, quite understandably, in colloquial language. The dialogue is filled with expletives, as one would expect in a prison setting. The narrative, however, could have been edited more professionally. A few misused words are misused throughout the book. For example, on at least four occasions the word “aspect” is mistakenly used in the place of the word “except,” and the word “then” in the place of “than.” Sentences are sometimes fragmented or run-on with modifiers dangling. The reading would certainly become smoother if these details were looked after.

Despite these minor flaws, the book remains quite enjoyable. A story of self-preservation and redemption, 053803 Life at Fifteen will definitely pique the attention of readers interested in the criminal justice system.

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Buying and Selling a Business: Assets Purchase vs. Shares Purchase

There are two ways of buying and selling an incorporated business in Ontario: assets purchase and shares purchase. Today I’d like to briefly discuss them. (An unincorporated businesses under sole proprietorship or partnership may be sold through assets purchases only.)

Assets Purchases:

Typically, buyers prefer assets purchases. In this kind of sale, the buyer buys substantial or all assets owned by the corporation. For example, if you buy a restaurant through an assets sale, you may want to buy the kitchen equipment, tables and chairs, but not necessarily the inventory in the freezer. In other words, the buyer can pick and choose which assets to purchase. Whatever is not dealt with remains the seller’s property.

Buyers of this kind generally don’t assume the debts of the seller, unless they are specifically included.

It’s important to remember that under an assets purchase agreement you only get what is specifically in the agreement. If you intend to acquire the corporation’s intellectual properties, such as trademarks and patents, you should make sure that they are specified in the transaction.

Shares Purchases:

In shares purchases the buyer buys substantial or all shares issued by the corporation. The buyer becomes the (majority) owner of the corporation and assumes the corporation’s assets and liabilities according to the percentage of the shares acquired. For example, if you buy a restaurant through a 100% share purchase, you assume all assets and liabilities of the corporation, including the debts owed to its creditors.

Sellers generally prefer shares purchases because they give the sellers a clean slate after the transaction. At the same time, because share purchases involve the acquisition of debts, there are more risks involved for the buyers.

Note: Please keep in mind that this article is provided for information and educational purposes. It does not constitute legal advice and should not be regarded as such. The law may have changed since the publication of the article.

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Book Review – The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell

The Tipping Point: How Little Things Can Make a Big Difference

by Malcolm Gladwell

Little, Brown and Company; 304 pages; 19.99 paperback

Events and trends sometimes appear to evolve and spread on their own. While most understand that certain diseases like seasonal flus can become epidemic because of the potency of the virus or the environment, not many can explain why Hush Puppies shoes suddenly became popular once again, or why the crime rate in New York City dropped drastically in a matter of months.

Gladwell explains how tends become epidemic. First “the law of the few” emphasizes that it takes a few extraordinary people to participate in the event for it to become epidemic. Such people belong to one of the three classes: “connectors,” individuals with great numbers of acquitances; “mavens,” members of a group who possess extraordinary wealth of knowledge; and “salesmen,” people who are exceedingly persuasive and charismatic.

Second, “the stickiness factor” suggests that some things are more memorable than others. A event can seem to take on a life of its own if it’s sufficiently sticky in the audience’s mind.

Finally, “the power of context” cannot be ignored. Given the right circumstances, seemingly insignificant changes may result in unexpected great changes.

Gladwell’s theory is well illustrated by his opening example of the popular revival of Hush Puppies. Apparently, a few “hip” New York youths decided one day that the shoes were cool. Their many friends became persuaded and started wearing them too. The trend was caught by a few name-brand designers, mavens in the design business. and the shoes were shown on the runway. Finally, the mass media, society’s great persuader, pushed the trend over the tipping point. The next thing you know, teenagers in America were flocking to the malls snatching them up.

However, not every example in the book is as convincing. Gladwell spends more than half a chapter explaining the success of the TV series Sesame Street, which he posits is tailor-made to suit the children’s cognitive development and therefore exceedingly memorable to its audience. Gladwell claims that a second TV show, “Blue’s Clues” was deliberated engineered to piggy-back on the success of Sesame Street by bringing the children’s experience to the next level.

Alas, while I did watch Sesame Street when I was a kid (not finding it that memorable), I have never heard of the show Blue’s Clues. Upon further inquiries in the community, I’ve learned that the series’ fame seems to be confined to the narrow niche of three to five year-olds. Evidently, Blue’s Clues isn’t as memorable to the public as Sesame Street.

In an attempt to explain the sudden and drastic decline in New York City’s crime rate, Gladwell relies on the “broken window” theory. It suggests that after the city imposed a zero-tolerance policy on vandalism, people became disinclined to commit violent crimes.

While the theory provides a convenient explanation of the crime turn-around, Gladwell neglects to address the fact that this theory has been discredited in academia and by criminologists in particular.* They suggest that the theory equates correlation to causality – a type of reasoning prone to fallacy.

Gladwell seems oblivious to the weakness of his examples throughout the book. Most of his arguments are merely self-serving. Potential criticisms are conveniently ignored. The Tipping Point, while suitable for pleasure reading, unfortunately isn’t written for the critical eye.

*see e.g. David Thatcher (2004), Order Maintenance Reconsidered

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