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Here are five choice articles from the business press to start off your workweek. I'm pointing you to articles about bailout plan redux, the choices banks face, financial instruments, Zappos and its people, and cost-cutting practices that work.

From the New York Times: First Bailout Formula Had It Right
"'Blink,' the mega-best-seller by Malcolm Gladwell, is about the importance of first impressions, and Mr. Gladwell’s belief that “those instant conclusions that we reach are really powerful and really important and, occasionally, really good.” Case in point, it turns out, is the banking crisis. It sure looks like the government’s first impression about how to save the banks was the right one, after all."

Wally's Comment: Maybe the first idea was the best idea. Remember that the TA in TARP was for "toxic assets" and the idea was for the government to take them off the banks' balance sheets and thereby free up credit. That's what congress approved. That's just not what Secretary Paulson did.

From the Economist: Inside the banks
"Blank cheques, bankruptcy, nationalisation: the options are dire, but governments must choose between them."

Wally's Comment: The Economist offers its usually lucid analysis, this time on the condition, situation and options of the banks.

From HBS Working Knowledge: Risky Business with Structured Finance
"In the wake of the financial crisis, many once-esoteric investment terms have become a familiar part of our vocabulary. The role of structured finance securities such as collateralized debt obligations (CDOs), for example, and the part played by ratings agencies in legitimizing these products, has become all too clear. The pooling and repackaging of economic assets such as loans, bonds, and mortgages resulted in enormous yields for many investors—until, one day, they didn't."

Wally's Comment: Here's an explanation of how "high growth" became "toxic" along with a reminder not to invest in things you don't understand.

From Fortune: Zappos knows how to kick it
"The quirky retailer has a reputation for flat-out fun. But when it cut 8% of its staff, Zappos became a model of how to nurture employees in good times and bad.

Wally's Comment: When you do layoffs, there's always a next day. Here's one way to handle it.

From Entrepreneur: Real-World Cost-Cutting Practices
"These 4 companies are saving money in day-to-day operations. And they're doing it without affecting the customer experience. "

Wally's Comment: Entrepreneur looks cost-cutting that you may be able to use as a model.