IF you look back to the 1970's and 1980's, you will find instances of Anti-Nuclear protests. Not against nuclear arms (Yes, there were plenty of those), but against nuclear power plants. I was in Nuclear Engineering training when Three Mile Island decided to melt and have a steam explosion due to numerous errors at the plant. If you were in such wnderful places like Saratoga NY, Charleston SC, Groton CT, Dunoon Scotland, or any of a hundred other cities around the world at any given time and asked where the nearest nuclear reactor- you would likely hear about the nearest COMMERCIAL reactor. At any given time, there could be several reactors operating in Norfolk Va, Groton, Charleston, or land based reactors outside of Saratoga- none of which were usually noticed by the public at large.
For the countless years of operation of NAVAL reactors- nobody really talks about them because of their high standard of operation relative to commercial plants (Yes- I know all have had their problems- nobody is perfect).
When I left the Navy, I was deluded into the belief that commercial power was just like Navy Nuclear Power. Strict attention to detail and safety first at any cost. WOW- was I in for a rude awakening! Commercial plants are expensive, and they want to keep them up and running at any cost. I saw the effect of a plant operated for profit rather than mission- and the much higher level of acceptable risk regarding their maintenance and operation. I am not saying they are unsafe, but rather not up to the same level that I was used to. When you put profit (money) into the picture, there becomes an immediate conflict of interests with regard to risk, safety, and other "overhead" items.
Friday, September 4, 2009
Perspective- From a much different angle...
When people learn that I served aboard submarines (and after the usual comments about claustrophobia and how did I fit in a submarine), they ask WHY I picked submarines. My answer may surprise you, but it certainly lays a unique foundation that would impact my chosen career greatly.
During the Vietnam war, I remember watching the daily death toll given to us by Walter Cronkite in the nightly news. I remember my mother saying that she prayed that I would never have to endure such an event. As a young man, I pondered what I would really want to do if drafted when I became of age. I knew one thing for sure- that men of high rank make decisions that place men of much lower rank in harms way (Like my father who served on LST-360 in WWII at Anzio, Normady, and many places I would not have wanted to be). These high ranking (professional) people made recommendations and choices that assigned RISK to those people they made the choices for. IF they made the wrong choice, however, the penalty for that wrong recommendation was paid for with wounds and fatalities of those brave men and women while they remained insulated and safe in their headquarters.
On a submarine, the Captain makes many recommendations and decisions. Those items are carried out by many people of many different ranks and specialities. The big difference is that the risk is shared equally by all shipmates- regardless of rank. A poor recommendation can mean peril not only for the lower ranking sailors, but for the Captain and fellow officers as well.
In the movie Pearl Harbor, Jon Voight plays the part of President Franklin Delano Roosevelt. The original idea for the Tokyo raid came to him from a former Submarine Commander- Admiral Francis S. Low. After hearing the idea for the bold move against Japan, he comments in the movie, "I like sub commanders- they don't have time for bullshit and neither do I!"
My point is simple- submariners have a much different perspective on many things than do other people. I place a much greater value on risk that the average person as a result of my Sub experience. Risk is quite a different thing when it effects not only the end user of an idea- but also the originator.
During the Vietnam war, I remember watching the daily death toll given to us by Walter Cronkite in the nightly news. I remember my mother saying that she prayed that I would never have to endure such an event. As a young man, I pondered what I would really want to do if drafted when I became of age. I knew one thing for sure- that men of high rank make decisions that place men of much lower rank in harms way (Like my father who served on LST-360 in WWII at Anzio, Normady, and many places I would not have wanted to be). These high ranking (professional) people made recommendations and choices that assigned RISK to those people they made the choices for. IF they made the wrong choice, however, the penalty for that wrong recommendation was paid for with wounds and fatalities of those brave men and women while they remained insulated and safe in their headquarters.
On a submarine, the Captain makes many recommendations and decisions. Those items are carried out by many people of many different ranks and specialities. The big difference is that the risk is shared equally by all shipmates- regardless of rank. A poor recommendation can mean peril not only for the lower ranking sailors, but for the Captain and fellow officers as well.
In the movie Pearl Harbor, Jon Voight plays the part of President Franklin Delano Roosevelt. The original idea for the Tokyo raid came to him from a former Submarine Commander- Admiral Francis S. Low. After hearing the idea for the bold move against Japan, he comments in the movie, "I like sub commanders- they don't have time for bullshit and neither do I!"
My point is simple- submariners have a much different perspective on many things than do other people. I place a much greater value on risk that the average person as a result of my Sub experience. Risk is quite a different thing when it effects not only the end user of an idea- but also the originator.
My Story- Why should this blog mean something to you...
I know that I am an investor. What I didn't know was that I am an investing consumer. The same qualities that apply to the purchase of an automobile, a house, or even a loaf of bread apply to buying an investment. Regardless of where you are using the investment, someone-somewhere has sold it to you, and numerous people (many of whom you have NEVER met) profited from that sale- period!
Other than fiction writers (which are allowed to make stuff up), I have always asked why I should read, listen to, understand, or act on the writings or teachings of others. Simply put- what makes them so special? It seems that everyone has a book, a YouTube video, or a blog. Mine deals with investments, and we know there are thousands of those items out there. What makes mine different?
The answer is two words- PERSPECTIVE and EXPERIENCE! From the first day that I began my career in financial services, I have done so with one goal in mind- find a better way to invest my own money, and to share those lessons with others so that they might benefit. A disclaimer is in order here- please understand that I will share actual and factual events that have occurred over the last 25 years. I have the pleasure of knowing many wonderful, professional financial advisors and none of this is directed at them. I have also, however, known many advisors who were motivated for their own selfish gain with little regard for the finances with which they were entrusted. Unfortunately, it is almost impossible to tell them apart from the consumer position.
I will try to keep these postings at reasonable length to help you digest the benefits learned from a quarter century of full-time service in an industry that (for the most part) has their interests placed first, that of their representatives second, and those of the consumer-you- last. Have a good read.....
Other than fiction writers (which are allowed to make stuff up), I have always asked why I should read, listen to, understand, or act on the writings or teachings of others. Simply put- what makes them so special? It seems that everyone has a book, a YouTube video, or a blog. Mine deals with investments, and we know there are thousands of those items out there. What makes mine different?
The answer is two words- PERSPECTIVE and EXPERIENCE! From the first day that I began my career in financial services, I have done so with one goal in mind- find a better way to invest my own money, and to share those lessons with others so that they might benefit. A disclaimer is in order here- please understand that I will share actual and factual events that have occurred over the last 25 years. I have the pleasure of knowing many wonderful, professional financial advisors and none of this is directed at them. I have also, however, known many advisors who were motivated for their own selfish gain with little regard for the finances with which they were entrusted. Unfortunately, it is almost impossible to tell them apart from the consumer position.
I will try to keep these postings at reasonable length to help you digest the benefits learned from a quarter century of full-time service in an industry that (for the most part) has their interests placed first, that of their representatives second, and those of the consumer-you- last. Have a good read.....
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