Authors: Jim Collins.
Hardcover, 240 pages
Publisher: Jim Collins
Publication Date: 2009-06-01


Reviews :

    Decline can be avoided.

Decline can be detected.

Decline can be reversed.

Amidst the desolate landscape of fallen great companies, Jim Collins began to wonder: How do the mighty fall? Can decline be detected early and avoided? How far can a company fall before the path toward doom becomes inevitable and unshakable? How can companies reverse course?

In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins' research project--more than four years in duration--uncovered five step-wise stages of decline:

Stage 1: Hubris Born of Success

Stage 2: Undisciplined Pursuit of More

Stage 3: Denial of Risk and Peril

Stage 4: Grasping for Salvation

Stage 5: Capitulation to Irrelevance or Death

By understanding these stages of decline, leaders can substantially reduce their chances of falling all the way to the bottom.

Great companies can stumble, badly, and recover.

Every institution, no matter how great, is vulnerable to decline. There is no law of nature that the most powerful will inevitably remain at the top. Anyone can fall and most eventually do. But, as Collins' research emphasizes, some companies do indeed recover--in some cases, coming back even stronger--even after having crashed into the depths of Stage 4.

Decline, it turns out, is largely self-inflicted, and the path to recovery lies largely within our own hands. We are not imprisoned by our circumstances, our history, or even our staggering defeats along the way. As long as we never get entirely knocked out of the game, hope always remains. The mighty can fall, but they can often rise again....

Authors: William D. Cohan.
Hardcover, 480 pages
Publisher: Doubleday
Publication Date: 2009-03-10
Edition: First Edition

Reviews :

   

On March 5, 2008, at 10:15 A.M., a hedge fund manager in Florida wrote a post on his investing advice Web site that included a startling statement about Bear Stearns & Co., the nation’s fifth-largest investment bank: “In my book, they are insolvent.”

This seemed a bold and risky statement. Bear Stearns was about to announce profits of $115 million for the first quarter of 2008, had $17.3 billion in cash on hand, and, as the company incessantly boasted, had been a colossally profitable enterprise in the eighty-five years since its founding.

Ten days later, Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun.

How this happened – and why – is the subject of William D. Cohan’s superb and shocking narrative that chronicles the fall of Bear Stearns and the end of the Second Gilded Age on Wall Street. Bear Stearns serves as the Rosetta Stone to explain how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making wrought havoc on the world financial system.

Cohan’s minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, and as Treasury Secretary Henry Paulson, New York Federal Reserve Bank President Tim Geithner, and Fed Chairman Ben Bernanke began to realize the dire consequences for the world economy should the company go bankrupt.

But HOUSE OF CARDS does more than recount the incredible panic of the first stages of the financial meltdown. William D. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the company’s fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the company’s leaders ignored the danger lurking in Bear’s huge positions in mortgage-backed securities.

The author deftly portrays larger-than-life personalities like Ace Greenberg, Bear Stearns’ miserly, take-no-prisoners chairman whose memos about re-using paper clips were legendary throughout Wall Street; his profane, colorful rival and eventual heir Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and became a symbol of the reasons for the firm’s demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won the astonishing endgame of the saga (the Bear Stearns headquarters alone were worth more than JP Morgan paid for the whole company).

Cohan’s explanation of seemingly arcane subjects like credit default swaps and fixed- income securities is masterful and crystal clear, but it is the high-end dish and powerful narrative drive that makes HOUSE OF CARDS an irresistible read on a par with classics such as LIAR’S POKER and BARBARIANS AT THE GATE.

Written with the novelistic verve and insider knowledge that made THE LAST TYCOONS a bestseller and a prize-winner, HOUSE OF CARDS is a chilling cautionary tale about greed, arrogance, and stupidity in the financial world, and the consequences for all of us.

...

Authors: Eric Schlosser.
Paperback, 416 pages
Publisher: Harper Perennial
Publication Date: 2005-07-01


Reviews :

   

Fast food has hastened the malling of our landscape, widened the chasm between rich and poor, fueled an epidemic of obesity, and propelled American cultural imperialism abroad. That's a lengthy list of charges, but Eric Schlosser makes them stick with an artful mix of first-rate reportage, wry wit, and careful reasoning.

Schlosser's myth-shattering survey stretches from California's subdivisions, where the business was born, to the industrial corridor along the New Jersey Turnpike, where many of fast food's flavors are concocted. Along the way, he unearths a trove of fascinating, unsettling truths -- from the unholy alliance between fast food and Hollywood to the seismic changes the industry has wrought in food production, popular culture, and even real estate.

...

    On any given day, one out of four Americans opts for a quick and cheap meal at a fast-food restaurant, without giving either its speed or its thriftiness a second thought. Fast food is so ubiquitous that it now seems as American, and harmless, as apple pie. But the industry's drive for consolidation, homogenization, and speed has radically transformed America's diet, landscape, economy, and workforce, often in insidiously destructive ways. Eric Schlosser, an award-winning journalist, opens his ambitious and ultimately devastating exposé with an introduction to the iconoclasts and high school dropouts, such as Harlan Sanders and the McDonald brothers, who first applied the principles of a factory assembly line to a commercial kitchen. Quickly, however, he moves behind the counter with the overworked and underpaid teenage workers, onto the factory farms where the potatoes and beef are grown, and into the slaughterhouses run by giant meatpacking corporations. Schlosser wants you to know why those French fries taste so good (with a visit to the world's largest flavor company) and "what really lurks between those sesame-seed buns." Eater beware: forget your concerns about cholesterol, there is--literally--feces in your meat.

Schlosser's investigation reaches its frightening peak in the meatpacking plants as he reveals the almost complete lack of federal oversight of a seemingly lawless industry. His searing portrayal of the industry is disturbingly similar to Upton Sinclair's The Jungle, written in 1906: nightmare working conditions, union busting, and unsanitary practices that introduce E. coli and other pathogens into restaurants, public schools, and homes. Almost as disturbing is his description of how the industry "both feeds and feeds off the young," insinuating itself into all aspects of children's lives, even the pages of their school books, while leaving them prone to obesity and disease. Fortunately, Schlosser offers some eminently practical remedies. "Eating in the United States should no longer be a form of high-risk behavior," he writes. Where to begin? Ask yourself, is the true cost of having it "your way" really worth it? --Lesley Reed ...

Authors: Greg Grandin.
Hardcover, 432 pages
Publisher: Metropolitan Books
Publication Date: 2009-06-09
Edition: 1

Reviews :

    ...

    Amazon Best of the Month, June 2009: Proving that truth can indeed be stranger than fiction, Fordlandia is the story of Henry Ford's ill-advised attempt to transform raw Brazilian rainforest into homespun slices of Americana. With sales of his Model-T booming, the automotive tycoon saw an opportunity to expand his reach further by exploiting a downtrodden Brazilian rubber industry. His vision, the laughably-named Amazonian outpost of Fordlandia, would become an enviable symbol of efficiency and mark the Ford Motor Company as a player on the global stage. Or so he thought. With thoughtful and meticulous research, author Greg Grandin explores the astounding oversights (no botanists were consulted to confirm the colony's agricultural viability) and painful arrogance (little thought was paid to how native Brazilians would react to an American way of life) that hamstrung the project from the start. Instead of ushering in a new era of commerce, Fordlandia became a cautionary tale of a dream destroyed by hubris. --Dave Callanan

Take a Closer Look at Images from Fordlandia: The Rise and Fall of Henry Ford's Forgotten Jungle City

(Click on images to enlarge)

A sketch of the opera house in Manus, Brazil (aka. "the tropical Paris")	An Amazonian family employed in the rubber trade	Ford executives on the deck of The Ormoc en route to the Amazon
Workers clearing the rainforest before construction can begin	Mundurucú mission children with German nuns	A Lincoln Zephyr stuck in Fordlandia mud
Fordlandia's Riverside Avenue near the Tapajós River	Ruins of Fordlandia's powerhouse	Ruins of the sawmill at Iron Mountain

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Authors: Michael Lewis.
Paperback, 256 pages
Publisher: Penguin (Non-Classics)
Publication Date: 1990-10-01


Reviews :

    In fiction there was Bonfire of the Vanities; in reality, there is Liar's Poker--the fascinating insider's account of what really happens on Wall Street. This irreverent and hilarious birds-eye view of Wall Street's heyday will appeal to anyone intrigued by the allure of million dollar deals. Now in trade paper. First serial to Manhattan Inc....

Authors: Liaquat Ahamed.
Hardcover, 576 pages
Publisher: Penguin Press HC, The
Publication Date: 2009-01-22


Reviews :

    With penetrating insights for today, this vital history of the world economic collapse of the late 1920s offers unforgettable portraits of the four men whose personal and professional actions as heads of their respective central banks changed the course of the twentieth century

It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person’s or government’s control. In fact, as Liaquat Ahamed reveals, it was the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades.

In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear—that the greatest threat to capitalism was inflation— and by a common vision that the solution was to turn back the clock and return the world to the gold standard.

For a brief period in the mid-1920s they appeared to have succeeded. The world’s currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression.

As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong....

   

Amazon Exclusive: Liaquat Ahamed on the Economic Climate

In December 1930, the great economist Maynard Keynes published an article in which he described the world as living in “the shadows of one of the greatest economic catastrophes in modern history.” The world was then 18 months into what would become the Great Depression. The stock market was down about 60%, profits had fallen in half and unemployed had climbed from 4% to about 10%.

If you take our present situation, 16 months into the current recession, we're about at the same place. The stock market is down 50 to 60 percent, profits are down 50 percent, unemployment is up from 4.5% to over 8%.

Over the next 18 months between January 1930 and July 1932 the bottom fell out of the world economy. It did so because the authorities applied the wrong medicine to what was a very sick economy. They let the banking system go under, they tried to cut the budget deficit by curbing government expenditure and raising taxes, they refused to assist the European banking system, and they even raised interest rates. It was no wonder the global economy crumbled.

Luckily with the benefit of those lessons, we now know what not to do. This time the authorities are applying the right medicine: they have cut interest rates to zero and are keeping them there, they have saved the banking system from collapse and they have introduced the largest stimulus package in history.

And yet I cannot help worrying that the world economy may yet spiral downwards. There are two areas in particular that keep me up at night.

The first is the U.S. banking system. Back in the fall, the authorities managed to prevent a financial meltdown. People are not pulling money out of banks anymore—in fact, they are putting money in. The problem is that as a consequence of past bad loans, the banking system has lost a good part of its capital. There is no way that the economy can recover unless the banking system is recapitalized. While there are many technical issues about the best way to do this, most experts agree that it will not be done without a massive injection of public money, possibly as much as $1 trillion from you and me, the taxpayer.

At the moment tax payers are so furious at the irresponsibility of the bankers who got us into this mess that they are in no mood to support yet more money to bail out banks. It is going to take an extraordinary act of political leadership to persuade the American public that unfortunately more money is necessary to solve this crisis.

The second area that keeps me up at night is Europe. During the real estate bubble years, the 13 countries of Eastern Europe that were once part of the Soviet empire had their own bubble. They now owe a gigantic $1.3 trillion dollars, much of which they won’t be able to pay. The burden will have to fall on the tax payers of Western Europe, especially Germany and France.

In the U.S. we at least have the national cohesion and the political machinery to get New Yorkers and Midwesterners to pay for the mistakes of Californian and Floridian homeowners or to bail out a bank based in North Carolina. There is no such mechanism in Europe. It is going to require political leadership of the highest order from the leaders of Germany and France to persuade their thrifty and prudent taxpayers to bail out foolhardy Austrian banks or Hungarian homeowners.

The Great Depression was largely caused by a failure of intellectual will—the men in charge simply did not understand how the economy worked. The risk this time round is that a failure of political will leads us into an economic cataclysm.

...

Authors: Stacy Perman.
Hardcover, 352 pages
Publisher: Collins Business
Publication Date: 2009-04-01


Reviews :

   

The untold story of the renegade burger chain that evokes a passionate following unlike any other

In fast-food corporate America, In-N-Out Burger stands apart. Begun in a tiny shack in the shadow of World War II, this family-owned chain has stead­fastly refused to franchise or be sold. It is a testament to old-fashioned values and rem­iniscent of a simpler time when people, loyalty, and a freshly made, juicy hamburger meant something. Over time, In-N-Out Burger has become nothing less than a cultural institu­tion that can lay claim to an insanely loyal following.

Perman uses her investigative skills to uncover the story of a real American success story. It is not only a tale of a unique and profitable business that exceeds all expectations, but of a family's struggle to maintain a sustainable pop empire against the industry it helped pioneer, internal tensions, and a bitter lawsuit that threatened to bring the company to the brink.

This is a lesson in a counterintuitive approach to doing business that places quality, customers, and employees over the riches promised by rapid expansion. In-N-Out Burger is a keenly observed narrative that explores the evolution of a California fad that transformed into an enduring cult of popularity; it is also the story of the conflicted, secretive, and ultimately tragic Snyder family who cooked a billion burgers and hooked a zillion fans. As the story of In-N-Out Burger unfolds, so too does the cultural history of America as influenced and shaped by car culture and fast food.

...

    Amazon Best of the Month, April 2009: With In-N-Out Burger: A Behind-the-Counter Look at the Fast-Food Chain That Breaks All the Rules, BusinessWeek writer Stacy Perman presents a chronicle of how a family-run California hamburger joint went on to become an American pop culture icon. Founded in 1948 by Harry Snyder and his wife Esther in Baldwin Park, CA, In-N-Out Burger attracted a cult-like fanbase of cruising teens, surfers, and celebrities alike (who developed a secret shorthand for custom orders). As they expanded slowly over the years across California and into Nevada, Arizona, and Utah, they never sacrificed their core customer-service values and commitment to quality. Their made-to-order success story packs enough family drama to fuel an HBO miniseries. After Harry died in 1976, his son Rich took over the business (and was responsible for adding discreet Bible verses to In-N-Out cups and wrappers) until his death in a 1993 plane crash. His brother Guy, a drag-racing rebel with a dark side, stepped in to helm the business until his accidental overdose in 1999. If you've never had an In-N-Out burger, Perman's book just might inspire you to find a good reason to get yourself to Southern California and seek out an off-the-menu 3x3 with a side of Animal Style fries. --Brad Thomas Parsons

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Author Stacy Perman's Guide to In-N-Out Burger's "Secret Menu"
Except for the addition of 7-Up and Dr. Pepper, In-N-Out Burger's menu has remained much as it was when the chain opened its first drive-thru in Baldwin Park, California in 1948. However, at some point in time, a "secret menu" emerged. Something of an insider's code, it is an off-menu series of variations on the chain's standard fare (Double-Double, hamburger, cheeseburger, and french fries) that has been passed on entirely by word-of-mouth through the years.

Although the "secret menu's" origins remain a mystery, part of its existence can be explained by the fact that In-N-Out Burger has always insisted on cooking-to-order each individual burger any way a customer wanted it prepared. Over time, several of these variations gained traction and somewhere along the way a number of them were given their own names. While frequently steeped in rumor and apocryphal tales the "secret menu" is almost always used by those In-N-Out customers in the know.

These are the most popular "secret menu" items. In-N-Out Burger has listed them on their website (and even trademarked their names):
Double Meat: Two beef patties, lettuce, tomato, spread, (optional onions) on a toasted bun.
3x3: Three beef patties, lettuce, tomato, sauce, three slices of American cheese, (optional onions) on a toasted bun.
4x4: Four beef patties, lettuce, tomato, sauce, four slices of American cheese, (optional onions) on a toasted bun.
Grilled Cheese: Two slices of melted American cheese, lettuce, tomato, sauce, (optional onions) on a toasted bun.
Protein Style: Any burger served sans bun and wrapped in lettuce.
Animal Style: Any burger with mustard cooked beef, lettuce, tomato, extra sauce, pickle, and grilled onions on a toasted bun. (Note: the Grilled Cheese can also be prepared Animal Style)

A few more "secret" variations that have made the rounds for those in the know:
X x Y: Any number of beef patties with corresponding slices of American cheese (note on one memorable Halloween evening in Las Vegas a group of friends famously ordered and consumed a 100x100).
Flying Dutchman: beef patty or patties and American cheese slice(s) no vegetables or bun.
Veggie Burger (sometimes called a Wish Burger): no beef or cheese, just lettuce, tomato, or (optional) onions on a toasted bun.
Extra Everything: just like it sounds--extra sauce, tomato, lettuce, and onions served grilled or raw.
Chopped Chilies: mild chopped peppers are added to any burger.

The "secret menu" also extends to a variety of french fry variations:
Animal Style Fries: an order of fries slathered in melted American cheese, sauce, and grilled onions.
Fries Light: reduced cooking time resulting in softer, chewier french fries.
Fries Well-Done: increased cooking time resulting in crispier, browner french fries.
Cheese Fries: french fries bathed in melted American cheese.
Onion Variations:
The usual scenario is a whole slice of fresh onion cooked with the burger but In-N-Out will serve onions grilled, raw, and chopped if asked.

For those really in the know:
If you ask an associate at the counter they will give you a serving of yellow chili peppers.
Pickles are added only upon request.

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...

Authors: Bryan Burrough.
Hardcover, 480 pages
Publisher: Penguin Press HC, The
Publication Date: 2009-01-27


Reviews :

    In The Big Rich, bestselling author and Vanity Fair special correspondent Bryan Burrough chronicles the rise and fall of one of the great economic and political powerhouses of the twentieth century—Texas oil. By weaving together the epic sagas of the industry’s four greatest fortunes, Burrough has produced an enthralling tale of money, family, and power in the American century.

Known in their day as the Big Four, Roy Cullen, H. L. Hunt, Clint Murchison, and Sid Richardson were all from modest backgrounds, and all became patriarchs of the wealthiest oil families in Texas. As a class they came to be known as the Big Rich, and together they created a new legend in America—the swaggering Texas oilman who owns private islands, sprawling ranches and perhaps a football team or two, and mingles with presidents and Hollywood stars.

The truth more than lives up to the myth. Along with their peers, the Big Four shifted wealth and power in America away from the East Coast, sending three of their state’s native sons to the White House and largely bankrolling the rise of modern conservatism in America. H. L. Hunt became America’s richest man by grabbing Texas’s largest oilfield out from under the nose of the man who found it; he was also a lifelong bigamist. Clint Murchison entertained British royalty on his Mexican hacienda and bet on racehorses—and conducted dirty deals—with J. Edgar Hoover. Roy Cullen, an elementary school dropout, used his millions to revive the hapless Texas GOP. And Sid Richardson, the Big Four’s fun-loving bachelor, was a friend of several presidents, including, most fatefully, Lyndon Johnson.

The Big Four produced offspring who frequently made more headlines, and in some cases more millions, than they did. With few exceptions, however, their fortunes came to an end in a swirl of bitter family feuds, scandals, and bankruptcies, and by the late 1980s, the era of the Big Rich was over. But as Texas native Bryan Burrough reveals in this hugely entertaining account, the profound economic, political, and cultural influence of Texas oil is still keenly felt today....

Authors: Douglas Rushkoff.
Hardcover, 304 pages
Publisher: Random House
Publication Date: 2009-06-02


Reviews :

    This didn’t just happen.

In Life Inc., award-winning writer, documentary filmmaker, and scholar Douglas Rushkoff traces how corporations went from being convenient legal fictions to being the dominant fact of contemporary life. Indeed, as Rushkoff shows, most Americans have so willingly adopted the values of corporations that they’re no longer even aware of it.

This fascinating journey, from the late Middle Ages to today, reveals the roots of our debacle. From the founding of the first chartered monopoly to the branding of the self; from the invention of central currency to the privatization of banking; from the birth of the modern, self-interested individual to his exploitation through the false ideal of the single-family home; from the Victorian Great Exhibition to the solipsism of MySpace–the corporation has infiltrated all aspects of our daily lives. Life Inc. exposes why we see our homes as investments rather than places to live, our 401(k) plans as the ultimate measure of success, and the Internet as just another place to do business.

Most of all, Life Inc. shows how the current financial crisis is actually an opportunity to reverse this six-hundred-year-old trend and to begin to create, invest, and transact directly rather than outsource all this activity to institutions that exist solely for their own sakes.

Corporatism didn’t evolve naturally. The landscape on which we are living–the operating system on which we are now running our social software–was invented by people, sold to us as a better way of life, supported by myths, and ultimately allowed to develop into a self-sustaining reality. It is a map that has replaced the territory.

Rushkoff illuminates both how we’ve become disconnected from our world and how we can reconnect to our towns, to the value we can create, and, mostly, to one another. As the speculative economy collapses under its own weight, Life Inc. shows us how to build a real and human-scaled society to take its place....

Authors: Jeff Jarvis.
Hardcover, 272 pages
Publisher: Collins Business
Publication Date: 2009-02-01


Reviews :

   

A bold and vital book that asks and answers the most urgent question of today: What Would Google Do?

In a book that's one part prophecy, one part thought experiment, one part manifesto, and one part survival manual, internet impresario and blogging pioneer Jeff Jarvis reverse-engineers Google—the fastest-growing company in history—to discover forty clear and straightforward rules to manage and live by. At the same time, he illuminates the new worldview of the internet generation: how it challenges and destroys, but also opens up vast new opportunities. His findings are counterintuitive, imaginative, practical, and above all visionary, giving readers a glimpse of how everyone and everything—from corporations to governments, nations to individuals—must evolve in the Google era.

Along the way, he looks under the hood of a car designed by its drivers, ponders a worldwide university where the students design their curriculum, envisions an airline fueled by a social network, imagines the open-source restaurant, and examines a series of industries and institutions that will soon benefit from this book's central question.

The result is an astonishing, mind-opening book that, in the end, is not about Google. It's about you.

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