The tactics, backstabbing, gossiping and most of all the foul mouthing is bizarre and thus intriguing. How does one prevent it? Eric Gleacher and Bob Greenhill - who have since founded their own eponymous investment banks, play their part as advisers at Morgan Stanley. All in all, a must read it if you are interested in Wall Street and the world of finance in general. I hope the authors are penniless and being flayed by some Kafkan Commandant, but somehow doubt it. Over the weekend, we got a little perspective ourselves. An absolute page-turner to beat any thriller.
For much of this book, that's an apt recommendation. It's like the real estate trick of buying property, and then immediately selling it to someone else for more money. In terms of the former, no literature can contest that they deserved to be called and regarded as such. After that it was Enron shaking down California by getting energy to be treated like a market and then limited demand to jack up price, then it was the real estate swindle which created an economic time bomb with predatory lending and ballooning mortgages. I swear solemnly that people will one day reminisce of me also:. Why did these people care so much about what came out of their computers and so little about what came out of their factories? What happened after the companies were bought? The man who would wreck Mr. The agreement, provides that Ross Johnson would have control of the new board of directors, an effective veto.
Because it takes less time watching a movie than reading a 600-page book, I opted for the movie from Netflix. What does this have to do with improving a company, product, or services? Learn how to find an independent advisor, pay for advice, and only the advice. The thinking ranges from personalities to hardnosed business options being done quite literally over the severely burned nervous systems of all involved. I want to find out what happened back then. But the result of the initial market tests showed otherwise. Have those firms lost market share? The company's stable at the moment and raking in money, which can be either plowed back in to make the company stronger or handed out dividends. Barbarians at the Gate are a good exploration of one monolithic event in the history of leveraged buy outs.
The authors have managed to make comprehensible a situation which was nothing less than chaotic most of the time. Anyway, everyone in this is just a monster. Guess who gets the company in the end. Nevertheless, the basic characters in this drama are interesting, maddening, and full of hubris. An examination of the political powers in Europe and beyond. An enduring masterpiece of investigative journalism by Bryan Burrough and John Helyar, it includes a new afterword by the authors that brings this remarkable story of greed and double-dealings up to date twenty years after the famed deal. It is not only very instructive to understand at an elementary level how the deals of this size were financed, but also to read how various financial firms got involved, and for what reasons often more than just money.
If you are into business case studies or just historical accounts of grand corporate events, this book is for you. Pillow talk between married couples is quoted at dialogue's length. It's worth reading more than once. The language varies from genteel to coarse, and so does the logic of the business. This book is not for the faint of heart — the reader is led step-by-step, moment-by-moment through the byzantine world of leveraged buy outs. In 1989, they obtained additional information for the book by doing over 100 interviews. Most smokers who responded to the tests said that the cigarette has the smell of fart and the taste of shit.
Johnson's right hand was Peter A. I think it might center around this thought: If it's too big to fail, it's too big. The new methods are deadly, effective, and they handle huge money. As the epilogue says — the raw material for the story was quite crazy and incredible in itself, but the ability of the authors to recreate for us the scenes of not just the few weeks in late 1989 but months and years preceding that is amazing and god knows how they managed that in just 9 months! My closing thought: It is a great read, no doubt. If a little leaks out along the way, it doesn't matter, because there's always more wampum where that comes from.
Job losses were viewed as part of business. Everything was going well until they stumbled upon a formidable adversary in the form of the Wall Street Investment Banker, Henry Kravis. As soon as his bid was announced, other bidders for the company emerged. How did the employees fare? Some of these points were not discussed on an academic level e. It took me a while to get through the first 100 odd pages, but the remaining 500 I got through over the weekend.
It borders then and now on the obscene. I guess the secret is filling the feeders with a mixture of seed they don't like. The main thing that went through my head for the first ~half of the book outlining Ross Johnson's rise to power -- at Standard Brands and at Nabisco -- was just how poorly corporate governance seemed to work. Not so starting in the late eighties. Little do we realise what makes the world go round. Every single major investment house was involved to some degree to get a piece of the action: , Shearson Lehman, , Drexel Burnham, , First Boston, , Forstmann Little, Salomon Brothers, and many more--an all-star cast if there ever was one.