On the Money

Into thin air by Bernie Fiedler, president of wealth management services at Waukesha State Bank.

I once had the opportunity to hear a speech by Neal Beidleman, one of the guides on the ill-fated Mt. Everest expedition in 1996, which resulted in the book “Into Thin Air.” He did an excellent job of analyzing why the expedition failed and resulted in so many lives were lost.

Because of low oxygen at high elevation, the team’s mental reasoning was similar to that of a third grade child. It was critical that the team have a plan that was well understood and followed. When two joint leaders failed to make the teams adhere to one critical goal, many people died.

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