Blue Blood and Mutiny

Blue Blood and Mutiny PDF Author: Patricia Beard
Publisher: William Morrow
ISBN: 9780060881917
Category : Business & Economics
Languages : en
Pages : 432

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Book Description
The inside story of the power struggle that rocked Wall Street's most prestigious financial institution What began with a shot over the bow ended in a shocking coup d'etat. In less than four months a group of eight retired executives orchestrated a stunning revolt within Morgan Stanley, the venerable and—until recently—most successful financial services firm on Wall Street. Now acclaimed journalist and historian Patricia Beard brings together the entire behind-the-scenes story in Blue Blood and Mutiny, a real-life business thriller exposing the tale that shook high finance. In March 2005 the business world woke up to an unprecedented full-page ad in the Wall Street Journal calling for the removal of Morgan Stanley's CEO. It was paid for by a cohort of eight former Morgan Stanley executives, including an ex-chairman and an ex-president, who soon would be dubbed the "Eight Grumpy Old Men." Their target was CEO Philip Purcell, a midwesterner who had come to power following Morgan Stanley's 1997 merger with Dean Witter Discover, where Purcell had been chief executive. In his eight years as CEO, Purcell had presided over a 50 percent decline in stock price since its peak in 2000 and a series of high-profile government and civil lawsuits that had tarnished the company's once-sterling reputation. Just a few months after the Journal ad, Purcell would retire under pressure, and former president John Mack, who had been pushed out by Purcell, was appointed CEO. The "Eight Grumpy Old Men" won the battle. The revolt of the Eight is about more than the stock price, or any bottom-line metrics: it signals a clash of cultures and a battle for the soul of American business. Since its founding, Morgan Stanley has been an elite enterprise guided by J. P. Morgan Jr.'s motto "A First Class Business in a First Class Way." The House of Morgan stood for something larger than success with honor; its ethos was unique—some would say sacred—and the eight retired executives believed this ideal had been undermined during Purcell's reign. Opening the long-closed doors of a bastion of Wall Street that has maintained the strictest privacy until now, Blue Blood and Mutiny weaves the history of Morgan Stanley with the inside story of the fight for dominance between two competing business cultures—one, the collegial meritocracy handed down from the days of J. P. Morgan, and the other, a cold, contemporary corporate model. Here is the season's must-read book for anyone who wants to understand the future of American business.

Blue Blood and Mutiny

Blue Blood and Mutiny PDF Author: Patricia Beard
Publisher: William Morrow
ISBN: 9780060881917
Category : Business & Economics
Languages : en
Pages : 432

Get Book Here

Book Description
The inside story of the power struggle that rocked Wall Street's most prestigious financial institution What began with a shot over the bow ended in a shocking coup d'etat. In less than four months a group of eight retired executives orchestrated a stunning revolt within Morgan Stanley, the venerable and—until recently—most successful financial services firm on Wall Street. Now acclaimed journalist and historian Patricia Beard brings together the entire behind-the-scenes story in Blue Blood and Mutiny, a real-life business thriller exposing the tale that shook high finance. In March 2005 the business world woke up to an unprecedented full-page ad in the Wall Street Journal calling for the removal of Morgan Stanley's CEO. It was paid for by a cohort of eight former Morgan Stanley executives, including an ex-chairman and an ex-president, who soon would be dubbed the "Eight Grumpy Old Men." Their target was CEO Philip Purcell, a midwesterner who had come to power following Morgan Stanley's 1997 merger with Dean Witter Discover, where Purcell had been chief executive. In his eight years as CEO, Purcell had presided over a 50 percent decline in stock price since its peak in 2000 and a series of high-profile government and civil lawsuits that had tarnished the company's once-sterling reputation. Just a few months after the Journal ad, Purcell would retire under pressure, and former president John Mack, who had been pushed out by Purcell, was appointed CEO. The "Eight Grumpy Old Men" won the battle. The revolt of the Eight is about more than the stock price, or any bottom-line metrics: it signals a clash of cultures and a battle for the soul of American business. Since its founding, Morgan Stanley has been an elite enterprise guided by J. P. Morgan Jr.'s motto "A First Class Business in a First Class Way." The House of Morgan stood for something larger than success with honor; its ethos was unique—some would say sacred—and the eight retired executives believed this ideal had been undermined during Purcell's reign. Opening the long-closed doors of a bastion of Wall Street that has maintained the strictest privacy until now, Blue Blood and Mutiny weaves the history of Morgan Stanley with the inside story of the fight for dominance between two competing business cultures—one, the collegial meritocracy handed down from the days of J. P. Morgan, and the other, a cold, contemporary corporate model. Here is the season's must-read book for anyone who wants to understand the future of American business.

Blue Blood & Mutiny

Blue Blood & Mutiny PDF Author: Patricia Beard
Publisher: Harper Collins
ISBN: 0061899143
Category : Business & Economics
Languages : en
Pages : 583

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Book Description
The behind the scenes story of the power struggle that rocked Wall Street's most prestigious financial institution. In March 2005 the business world woke up to an unprecedented full-page ad in the Wall Street Journal calling for the removal of Morgan Stanley's CEO. It was paid for by a cohort of eight former Morgan Stanley executives, including an ex-chairman and an ex-president, who soon would be dubbed the “Eight Grumpy Old Men.” Their target was CEO Philip Purcell, who had come to power following Morgan Stanley's 1997 merger with Dean Witter Discover. In his eight years as CEO, Purcell had presided over a 50 percent decline in stock price since its peak in 2000 and a series of high-profile government and civil lawsuits that had tarnished the company's once-sterling reputation. Just a few months after the Journal ad, Purcell would retire under pressure, and former president John Mack, who had been pushed out by Purcell, was appointed CEO. The “Eight Grumpy Old Men” won the battle. Opening the long-closed doors of a bastion of Wall Street that has maintained the strictest privacy until now, Blue Blood and Mutiny is real-life business thriller exposing the tale that shook high finance. Weaving the history of Morgan Stanley with the inside story of the fight for dominance between two competing business cultures—one, the collegial meritocracy handed down from the days of J. P. Morgan, and the other, a cold, contemporary corporate model, acclaimed journalist and historian Patricia Beard has written a must-read book for anyone who wants to understand the future of American business.

Paper Fortunes

Paper Fortunes PDF Author: Roy C. Smith
Publisher: St. Martin's Press
ISBN: 1429983574
Category : Business & Economics
Languages : en
Pages : 449

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Book Description
A LONG, WILD RIDE Paper Fortunes is the richly-detailed story of Wall Street from post-war heyday to present woes, from a player whose experiences, profiles of the colorful personalities involved and learned observations of the forces shaping the business make it insightful and timely. Smith, a long-time Goldman Sachs banker and now a distinguished NYU professor of finance, enables anyone working on the Street, investing with it, or just appalled by its worst shenanigans to understand how the industry has grown, changed and evolved, and what its future prospects are. From various Goldmans, Sachses, and Lehmans through to Richard Fuld, Henry Paulson and Tim Geithner, Paper Fortunes tells the ongoing story of the shifting U.S. market economy through the actions of the people who've shaped it for the last 60 years and will shape it for the next 60 years.

A Certain Summer

A Certain Summer PDF Author: Patricia Beard
Publisher: Xlibris Corporation
ISBN: 1664174982
Category : Fiction
Languages : en
Pages : 265

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Book Description
Nothing ever changes at Wauregan... That is the mystique of the idyllic island summer colony, the comforting belief its multi-generation families have lived by for half a century. But in 1948, after a world war has upended countless lives, it is not certain that the islanders will be able to return to “the old days”—and for Helen Wadsworth, the war is not over. Helen’s husband, Arthur was declared missing in action during an OSS operation in France, and she is unable to find out what happened, or whether he might, even now, be alive. Raising a teenage son, who, like his mother longs to know the truth, Helen turns to Frank Hartman, her husband’s best friend and his partner on the OSS mission on which Arthur was lost, while Frank escaped. But Frank seems more intent on filling the void in Helen’s life, which Arthur has left than in answering her questions. And then Peter Gavin, a young Marine who was captured and tortured by the Japanese returns to the island with his faithful war dog; and man and dog enter the lives of Helen and her son. Unsure of whom to trust, or what to believe, Helen takes matters into her own hands. As she seeks the truth, she makes a shocking discovery that will alter the course of her life, and change her perceptions of love and war. A mystery, a love story and an insider’s view of a private world, A Certain Summer resonates long after the last page is turned. “Equal parts novel of manners, historical fiction, and a quiet examination of social mores, A Certain Summer weaves important questions about class, gender, trauma and family through its seemingly simple narrative as artfully as an experienced hostess arranges the seating at a dinner table, so that conversations flow....But Ms. Beard shows that even magical retreats like Wauregan are subject to the vicissitudes of the modern world....In the end...it seems that Wauregan’s magic prevails in its very ability to change in a way that stays true to its origins, or even more precisely, that magic prevails as Wauregan learns it must change to stay true to its origins.” —The East Hampton Star “Woven into this tale of loss and romance are themes of intrigue, growth, betrayal, psychological trauma and a fulfilling healing process. Beard’s attention to historical details and understanding of the realities and shortfalls of privilege make a satisfying read.” —Publisher’s Weekly “A richly evocative debut novel.” —Goodreads “A really satisfying read...I’m crazy about A Certain Summer...a perfect summer book.” —Bookreporter.com

Up Close and All In

Up Close and All In PDF Author: John Mack
Publisher: Simon and Schuster
ISBN: 1982174285
Category : Business & Economics
Languages : en
Pages : 320

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Book Description
From John Mack, former CEO of Morgan Stanley, an intimate personal memoir and riveting business story, recounting how he helped grow the company from 300 to 50,000 employees over four decades, transformed a notoriously competitive culture into a successful and collaborative one, and lead the company through the 2008 financial crisis. During his thirty-four-year tenure at Morgan Stanley, John Mack’s goal was to build the strongest and most productive team on Wall Street. His ability to motivate his employees to do their best work, especially in times of crisis, was fostered by his willingness to slash through bureaucracy and stand up to powerful interests. A forceful personality, one journalist said Mack was “described as ‘charismatic’ so regularly that it could be part of his name.” In Up Close and All In, Mack traces his personal journey from a one-stoplight North Carolina mill town to a fortieth-floor corner office on Wall Street—and shares the life lessons he learned along the way. He developed a titanium-strength stomach for risk, stress, and competition while landing accounts early in his career, as investment banks fought like wolfpacks to take advantage of new deregulation, fielding business raids, booms, and busts. As he rose through the ranks, he never forgot where he came from, relying on his instincts, doing what was right, and listening to his people on the front lines. This culture of trust and collaboration helped Morgan Stanley anticipate future trends before other firms, adapt quickly, and achieve record profits. This gripping memoir includes both humbling lows—like when Mack made the difficult decision to leave Morgan Stanley in 2001—and exhilarating highs—such as when he made an eleventh-hour agreement with the Japanese bank Mitsubishi to save the company during the 2008 financial crisis, having refused to give in when top regulators pressured him to sell the firm for $2 per share. With humor and honesty, Mack shares advice on both business and life: how to create a culture of team players, how to keep perspective during crises, how to make difficult decisions when all eyes are on you, and more. From a singular man who’s as unafraid to cry publicly as he is to anger some of the most powerful people in the world, this is an indispensable guide to living and leading well.

Collaboration

Collaboration PDF Author: Morten Hansen
Publisher: Harvard Business Press
ISBN: 1422137279
Category : Business & Economics
Languages : en
Pages : 244

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Book Description
In Collaboration, author Morten Hansen takes aim at what many leaders inherently know: in today's competitive environment, companywide collaboration is an imperative for successful strategy execution, yet the sought-after synergies are rarely, if ever, realized. In fact, most cross-unit collaborative efforts end up wasting time, money, and resources. How can managers avoid the costly traps of collaboration and instead start getting the results they need? In this book, Hansen shows managers how to get collaboration right through "disciplined collaboration"-- a practical framework and set of tools managers can use to: · Assess when--and when not--to pursue collaboration across units to achieve goals · Identify and overcome the four barriers to collaboration · Get people to buy into the larger picture, even when they own only a small piece of it · Be a "T-Shaped Manager," collaborating across divisions while still working deeply in your own unit · Create networks across the organization that are not large, but nimble and effective Based on the author's long-running research, in-depth case studies, and company interviews, Collaboration delivers practical advice and tools to help your organization collaborate--for real results.

Resisting Corporate Corruption

Resisting Corporate Corruption PDF Author: Stephen V. Arbogast
Publisher: John Wiley & Sons
ISBN: 1119323746
Category : Business & Economics
Languages : en
Pages : 596

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Book Description
Presents real world case studies exploring the complex challenges that cause ethical failures and the means available to overcome them with integrity. Resisting Corporate Corruption teaches business ethics in a manner very different from the philosophical and legal frameworks that dominate graduate schools. The book offers twenty-eight case studies and nine essays that cover a full range of business practice, controls and ethics issues. The essays discuss the nature of sound financial controls, root causes of the Financial Crisis, and the evolving nature of whistleblower protections. The cases are framed to instruct students in early identification of ethics problems and how to work such issues within corporate organizations. They also provide would-be whistleblowers with instruction on the challenges they'd face, plus information on the legal protections, and outside supports available should they embark on that course. Some of the cases illustrate how 'The Young are the Most Vulnerable,' i.e. short service employees are most at risk of being sacrificed by an unethical firm. Other cases show the ethical dilemmas facing well-known CEOs and the alternatives they can employ to better combine ethical conduct and sound business strategy. Through these case studies, students should emerge with a practical toolkit that better enables them to follow their moral compass. "This third edition to Resisting Corporate Corruption is a must read for all students of American capitalism and specifically anyone considering a career on Wall Street or in public company finance and M&A." —Sherron Watkins, from the Foreword

The Man Who Captured Washington

The Man Who Captured Washington PDF Author: John McCavitt
Publisher: University of Oklahoma Press
ISBN: 0806155302
Category : History
Languages : en
Pages : 368

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Book Description
An Irish officer in the British Army, Major General Robert Ross (1766–1814) was a charismatic leader widely admired for his bravery in battle. Despite a military career that included distinguished service in Europe and North Africa, Ross is better known for his actions than his name: his 1814 campaign in the Chesapeake Bay resulted in the burning of the White House and Capitol and the unsuccessful assault on Baltimore, immortalized in “The Star Spangled Banner.” The Man Who Captured Washington is the first in-depth biography of this important but largely forgotten historical figure. Drawing from a broad range of sources, both British and American, military historians John McCavitt and Christopher T. George provide new insight into Ross’s career prior to his famous exploits at Washington, D.C. Educated in Dublin, Ross joined the British Army in 1789, earning steady promotion as he gained combat experience. The authors portray him as an ambitious but humane commanding officer who fought bravely against Napoleon’s forces on battlefields in Holland, southern Italy, Egypt, and the Iberian Peninsula. Following the end of the war in Europe, while still recovering from a near-fatal wound, Ross was designated to lead an “enterprise” to America, and in August 1814 he led a small army to victory in the Battle of Bladensburg. From there his forces moved to the city of Washington, where they burned public buildings. In detailing this campaign, McCavitt and George clear up a number of misconceptions, including the claim that the British burned the entire city of Washington. Finally, the authors shed new light on the long-debated circumstances surrounding Ross’s death on the eve of the Battle of North Point at Baltimore. Ross’s campaign on the shores of the Chesapeake lasted less than a month, but its military and political impact was enormous. Considered an officer and a gentleman by many on both sides of the Atlantic, the general who captured Washington would in time fade in public memory. Yet, as McCavitt and George show, Ross’s strategies and achievements during the final days of his career would shape American defense policy for decades to come.

Lead with a Story

Lead with a Story PDF Author: Paul Smith
Publisher: AMACOM Div American Mgmt Assn
ISBN: 0814420303
Category : Business & Economics
Languages : en
Pages : 290

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Book Description
Storytelling has come of age in the business world. Today, many of the most successful companies use storytelling as a leadership tool. At Nike, all senior executives are designated "corporate storytellers." 3M banned bullet points years ago and replaced them with a process of writing "strategic narratives." Procter Gamble hired Hollywood directors to teach its executives storytelling techniques. Some forward-thinking business schools have even added storytelling courses to their management curriculum. The reason for this is simple: Stories have the ability to engage an audience the way logic and bullet points alone never could. Whether you are trying to communicate a vision, sell an idea, or inspire commitment, storytelling is a powerful business tool that can mean the difference between mediocre results and phenomenal success. Lead with a Story contains both ready-to-use stories and how-to guidance for readers looking to craft their own. Designed for a wide variety of business challenges, the book shows how narrative can help: * Define culture and values * Engender creativity and innovation * Foster collaboration and build relationships * Provide coaching and feedback * Lead change * And more Whether in a speech or a memo, communicated to one person or a thousand, storytelling is an essential skill for success. Complete with examples from companies like Kellogg's, Merrill-Lynch, Procter Gamble, National Car Rental, Wal-Mart, Pizza Hut, and more, this practical resource gives readers the guidance they need to deliver stories to stunning effect.

A Financial History of the United States

A Financial History of the United States PDF Author: Jerry W Markham
Publisher: Routledge
ISBN: 1317478126
Category : Business & Economics
Languages : en
Pages : 839

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Book Description
This new reference by the author of the critically acclaimed A Financial History of the United States covers the aftermath of the Enron-era scandals and the extraordinary financial developments during the period