Checking Regulations

I read an interesting column in the Wall Street Journal.  It was about Ohio's serious effort to curb regulation.

Regulations are important and necessary in a complex society.  It is the effort to balance individual rights with the impact to society.  From another angle, regulations also protect individuals from potential abuse.  But to ensure the maximum and positive impact of regulations, it should be under review on a consistent basis as society constantly evolves.  However, we generally do not do this.  Instead, we generally add regulations and do not ask if current regulations are still valid.  Or even worse, conflict with existing rules. 

In addition, technology changes and so do society's expectations and needs.  New technology offers more precise and accurate measuring of regulations and the impact of current regulations.  But do we use this new technology? 

However, in economic development, regulation is often viewed as an unknown. Businesses need some level of assurance and consistency.  The method and practice of determining, implementing, and enforcing regulations are a major concern to executive team expanding or siting a new facility.  Uncertainty is a major negative.  Inconsistent rules and enforcement are also negative.  To put it another way, every day a facility is not in operation, revenues are lost. It is a double hit because those revenues cannot be easily recovered. 

That is why Ohio's efforts to review and reduce regulations are an outstanding example of a positive initiative.  Ohio's new law states that for every new regulation implemented, two must be taken off the books. It is innovative and will force regulators to seriously consider new regulations and think hard about useless ones that can be removed. I do recognize that not all regulations impact business. 

Other states are considering this this innovative law.  It is a valiant effort and one worth following over the next few years.

Link to article:  https://www.wsj.com/articles/a-dark-day-for-red-tape-in-the-buckeye-state-11564782053?shareToken=st7989dffe4e4d4cae8feccc7d7717bda3

You Know You are (INSERT SOMETHING ODD) when You (INSERT SOMETHING EQUALLY ODD)

Yes, this is likely somewhat of a confusing title to you.  Frankly, it is to me too. 

So here is an example.  Today I confirmed one of my traits.  I am wonky (something odd) because I love history and writing (perhaps not odd things) when I chose to read a Wall Street Journal book review about the Semicolon (definitely odd).  

Yes, I get it. The title does not precisely fit the example.  So it is a work in progress.  Most writing is.  But I digress. 

Some background.  Ms. Cecelia Watson wrote a book titled “Semicolon: The Past, Present, and Future of a Misunderstood Mark".  The book reviewer is Barton Swaim.  I bet this was one of the least read book reviews in past editions of the Wall Street Journal.  However, I sure enjoyed it. The first paragraph is quite humorous. The review gave me some history (Massachusetts and liquor laws) and an excellent discussion about the ever unique semicolon. 

Frankly, I am surprised that anyone can write an entire book on the semicolon. Better yet, someone else actually wrote a review of the book. And finally, of all the stories in the Journal, I would read that one.

Well, that is my odd example. What is yours?

Link to the book review:  https://www.wsj.com/articles/semicolon-review-between-a-pause-and-a-hard-stop-11565301903?shareToken=st2a121b9eac164aadb632b2918584cf6a

Fanatic Meets Technology

Growing up in Midland, Texas it is highly likely that you were a die hard Dallas Cowboy fan.  (And if you were not, you did not tell anyone).  You loved the history, the dignity of Coach Tom Landry, the legend of how the team started (and part of the reason for the rivalry with the Washington Redskins),  the colorful players, the innovations (an example is the Dallas Cowboy Cheerleaders), and 20 years of winning seasons.  At the start of every game, you knew the players' names, numbers, and positions.  You tensed up when you heard the phrase "loading up the shotgun."

During football seasons we gathered around the TV and watched America's Team (and yes they are) play. Usually we had nachos and enjoyed the game. No matter what the outcome, we watched it to the very end.  On Monday, we talked about the football game. 

It was rewarding to read in the Wall Street Journal about Gil Brandt's induction into the NFL Hall of Fame.  If you knew Cowboy history, you know the name. If not, suffice to say Mr. Brandt was not a player for the Cowboys.  No, he was the talent evaluator.  

So what?  Just how good could be be?

If you ask a Cowboy who knows the team history, you will find out he was integral to the team's success for over two decades. I remember my father telling me about him.  Mr. Brandt introduced the concept of using computers to help determine who should be picked in the NFL draft.  Consider it as big data meets football scouting.  He used a tool to systematically sort vast amounts of data and offer some perspective during the evaluation process.  At the time, it was a radical concept. In the article, note the sarcasm by Vince Lombardi. (if you have to ask who Mr. Lombardi is, find something else to read). 

Today Mr. Brandt's concepts are considered standard.  But just remember, Mr. Brandt started this 49 years ago.  To offer some perspective, your smart phone has far more computing power than what Mr. Brandt started with.  His computer was 2.5 to 3 feet tall. 

It reminds me of using  GIS in economic development.  To some, GIS is simply a pretty map maker. To me and other professionals, it is a highly sophisticated decision support system that augments qualitative analysis.  Like Mr. Brandt's computer, GIS can take many factors, sift through them, and offer evaluations.  It is a very important component of a strong economic development program. 

For any Cowboy fan, you will thoroughly enjoy the following article.  You will see familiar names mentioned and highly interesting stories from Mr. Brandt and others.  It is a wonderful read. But just remember, football meets big data. And the results, well the article does a far better job than I can describe here.  

Finally, Mr. Brandt, congratulations for earning a very important award.  You certainly deserve it. 

Link to article:  https://www.wsj.com/articles/the-man-who-devised-the-formula-to-find-nfl-stars-11564680827?shareToken=st430c907787b04fc5b5f5ba2024f42e5a