Power Failure: The Inside Story of the Collapse of Enron
Mimi Swartz - 2003
. . It quoted [CFO] Jeff McMahon addressing the company’s creditors and cautioning them against a rash judgment. “Don’t assume that there is a smoking gun.”Sherron knew Enron well enough to know that the company was in extreme spin mode…Power Failure is the electrifying behind-the-scenes story of the collapse of Enron, the high-flying gas and energy company touted as the poster child of the New Economy that, in its hubris, had aspired to be “The World’s Leading Company,” and had briefly been the seventh largest corporation in America.Written by prizewinning journalist Mimi Swartz, and substantially based on the never-before-published revelations of former Enron vice-president Sherron Watkins, as well as hundreds of other interviews, Power Failure shows the human face beyond the greed, arrogance, and raw ambition that fueled the company’s meteoric rise in the late 1990s. At the dawn of the new century, Ken Lay’s and Jeff Skilling's faces graced the covers of business magazines, and Enron’s money oiled the political machinery behind George W. Bush’s election campaign. But as Wall Street analysts sang Enron’s praises, and its stock spiraled dizzyingly into the stratosphere, the company’s leaders were madly scrambling to manufacture illusory profits, hide its ballooning debt, and bully Wall Street into buying its fictional accounting and off-balance-sheet investment vehicles. The story of Enron’s fall is a morality tale writ large, performed on a stage with an unforgettable array of props and side plots, from parking lots overflowing with Boxsters and BMWs to hot-house office affairs and executive tantrums. Among the cast of characters Mimi Swartz and Sherron Watkins observe with shrewd Texas eyes and an insider’s perspective are: CEO Ken Lay, Enron’s “outside face,” who was more interested in playing diplomat and paving the road to a political career than in managing Enron’s high-testosterone, anything-goes culture; Jeff Skilling, the mastermind behind Enron’s mercenary trading culture, who transformed himself from a nerdy executive into the personification of millennial cool; Rebecca Mark, the savvy and seductive head of Enron’s international division, who was Skilling’s sole rival to take over the company; and Andy Fastow, whose childish pranks early in his career gave way to something far more destructive. Desperate to be a player in Enron’s deal-making, trader-oriented culture, Fastow transformed Enron’s finance department into a “profit center,” creating a honeycomb of financial entities to bolster Enron’s “profits,” while diverting tens of millions of dollars into his own pocketsAn unprecedented chronicle of Enron’s shocking collapse, Power Failure should take its place alongside the classics of previous decades – Barbarians at the Gate and Liar’s Poker – as one of the cautionary tales of our times.From the Hardcover edition.
The End of America: Letter of Warning to a Young Patriot
Naomi Wolf - 2007
In authoritative research and documentation Wolf explains how events of the last six years parallel steps taken in the early years of the 20th century's worst dictatorships such as Germany, Russia, China, and Chile. The book cuts across political parties and ideologies and speaks directly to those among us who are concerned about the ever-tightening noose being placed around our liberties. In this timely call to arms, Naomi Wolf compels us to face the way our free America is under assault. She warns us-with the straight-to-fellow-citizens urgency of one of Thomas Paine's revolutionary pamphlets-that we have little time to lose if our children are to live in real freedom. -Recent history has profound lessons for us in the U.S. today about how fascist, totalitarian, and other repressive leaders seize and maintain power, especially in what were once democracies. The secret is that these leaders all tend to take very similar, parallel steps. The Founders of this nation were so deeply familiar with tyranny and the habits and practices of tyrants that they set up our checks and balances precisely out of fear of what is unfolding today. We are seeing these same kinds of tactics now closing down freedoms in America, turning our nation into something that in the near future could be quite other than the open society in which we grew up and learned to love liberty, - states Wolf. Wolf is taking her message directly to the American people in the most accessible form and as part of a large national campaign to reach out to ordinary Americans about the dangers we face today. This includes a lecture and speaking tour, and being part of the nascent American Freedom Campaign, a grassroots effort to ensure that presidential candidates pledge to uphold the constitution and protect our liberties from further erosion. The End of America will shock, enrage, and motivate-spurring us to act, as the Founders would have counted on us to do in a time such as this, as rebels and patriots-to save our liberty and defend our nation.
Buffett: The Making of an American Capitalist
Roger Lowenstein - 1995
His awesome investment record has made him a cult figure popularly known for his seeming contradictions: a billionaire who has a modest lifestyle, a phenomenally successful investor who eschews the revolving-door trading of modern Wall Street, a brilliant dealmaker who cultivates a homespun aura.Journalist Roger Lowenstein draws on three years of unprecedented access to Buffett’s family, friends, and colleagues to provide the first definitive, inside account of the life and career of this American original. Buffett explains Buffett’s investment strategy—a long-term philosophy grounded in buying stock in companies that are undervalued on the market and hanging on until their worth invariably surfaces—and shows how it is a reflection of his inner self.
The Fourth Industrial Revolution
Klaus Schwab - 2016
Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human.Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials.The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress.
The American Way of Eating: Undercover at Walmart, Applebee's, Farm Fields and the Dinner Table
Tracie McMillan - 2012
Reporting from California fields, a Walmart produce aisle outside of Detroit, and the kitchen of a New York City Applebee's, McMillan examines the reality of our country's food industry in this "clear and essential" (The Boston Globe) work of reportage. Chronicling her own experience and that of the Mexican garlic crews, Midwestern produce managers, and Caribbean line cooks with whom she works, McMillan goes beyond the food on her plate to explore the national priorities that put it there. Fearlessly reported and beautifully written, The American Way of Eating goes beyond statistics and culture wars to deliver a book that is fiercely honest, strikingly intelligent, and compulsively readable. In making the simple case that - city or country, rich or poor - everyone wants good food, McMillan guarantees that talking about dinner will never be the same again.
The Spirit Level: Why More Equal Societies Almost Always Do Better
Richard G. Wilkinson - 2009
Why do we mistrust people more in the UK than in Japan? Why do Americans have higher rates of teenage pregnancy than the French? What makes the Swedish thinner than the Greeks? The answer: inequality. This groundbreaking book, based on years of research, provides hard evidence to show how almost everything—-from life expectancy to depression levels, violence to illiteracy-—is affected not by how wealthy a society is, but how equal it is. Urgent, provocative and genuinely uplifting, The Spirit Level has been heralded as providing a new way of thinking about ourselves and our communities, and could change the way you see the world.
The New Digital Age: Reshaping the Future of People, Nations and Business
Eric Schmidt - 2013
And, the Director of Google Ideas, Jared Cohen, formerly an advisor to both Secretaries of State Condoleezza Rice and Hillary Clinton.Never before has the future been so vividly and transparently imagined. From technologies that will change lives (information systems that greatly increase productivity, safety and our quality of life, thought controlled motion technology that can revolutionize medical procedures, and near-perfect translation technology that allows us to have more diversified interactions) to our most important future considerations (curating our online identity and fighting those who would do harm with it) to the widespread political change that will transform the globe (through transformations in conflict, increasingly active and global citizenries, a new wave of cyber-terrorism and states operating simultaneously in the physical and virtual realms) to the ever present threats to our privacy and security, Schmidt and Cohen outline in great detail and scope all the promise and peril awaiting us in the coming decades.
Small Is Beautiful: Economics as if People Mattered
Ernst F. Schumacher - 1973
Schumacher's riveting, richly researched statement on sustainability has become more relevant and vital with each year since its initial groundbreaking publication during the 1973 energy crisis. A landmark statement against "bigger is better" industrialism, Schumacher's Small Is Beautiful paved the way for twenty-first century books on environmentalism and economics, like Jeffrey Sachs's The End of Poverty, Paul Hawken's Natural Capitalism, Mohammad Yunis's Banker to the Poor, and Bill McKibben's Deep Economy. This timely reissue offers a crucial message for the modern world struggling to balance economic growth with the human costs of globalization.
Force of Nature: The Unlikely Story of Wal-Mart's Green Revolution
Edward Humes - 2011
Lee Scott and white-water expert turned sustainability consultant Jib Ellison, the result is nothing less than a green business revolution.Wal-Mart—long the target of local businesses, labor advocates, and environmentalists who deplore its outsourced, big-box methods—has embraced an unprecedented green makeover, which is now spreading worldwide. The retail giant that rose from Sam Walton's Ozarks dime store is leveraging the power of 200 million weekly customers to drive waste, toxics, and carbon emissions out of its stores and products. Neither an act of charity nor an empty greenwash, Wal-Mart's green move reflects its river guide's simple, compelling philosophy: that the most sustainable, clean, energy-efficient, and waste-free company will beat its competitors every time. Not just in some distant, utopian future but today.From energy conservation, recycling, and hybrid trucks to reduced packaging and partnerships with environmentalists it once met only in court, Wal-Mart has used sustainability to boost its bottom line even in a tough economy—belying the age-old claim that going green kills jobs and profits. Now the global apparel business, the American dairy industry, big agriculture, and even Wall Street are following Wal-Mart's lead, along with the 100,000 manufacturers whose products must become more sustainable to remain on Wal-Mart's shelves. Here Pulitzer Prize winner and bestselling author Edward Humes charts the course of this unlikely second industrial revolution, in which corporate titans who once believed profit and planet must be at odds are learning that the best business just may be a force of nature.
Fearless Leadership: High-Performance Lessons from the Flight Deck
Carey D. Lohrenz - 2014
Lohrenz learned what fearless leadership means in some of the most demanding and extreme environments imaginable: the cockpit of an F-14 and the flight deck of an aircraft carrier. Here, her teams had to perform at their peak—or lives were on the line. Faltering leadership was simply unacceptable. Through these experiences, Lohrenz identified a fundamental truth: high-performing teams require fearless leaders.Since leaving the Navy, she’s translated that lesson into a new field, helping top business leaders, from Fortune 500 executives to middle managers, supercharge performance in today’s competitive business environments. In Fearless Leadership, Lohrenz walks you through the three fundamentals of real fearlessness—courage, tenacity, and integrity—and then reveals fearless leadership in action, offering advice on how to set a bold vision, bring the team together (as wingmen, not Top Gun mavericks), execute effectively, and stay resilient through hard times.Whether you’re stepping into your first leadership role or looking to get out of a longstanding rut, Fearless Leadership will act like your afterburner—rocketing you to ever-higher levels of performance.
Catch and Kill: Lies, Spies, and a Conspiracy to Protect Predators
Ronan Farrow - 2019
As Farrow drew closer to the truth, shadowy operatives, from high-priced lawyers to elite war-hardened spies, mounted a secret campaign of intimidation, threatening his career, following his every move and weaponizing an account of abuse in his own family.All the while, Farrow and his producer faced a degree of resistance that could not be explained - until now. And a trail of clues revealed corruption and cover-ups from Hollywood, to Washington, and beyond.This is the untold story of the exotic tactics of surveillance and intimidation deployed by wealthy and connected men to threaten journalists, evade accountability and silence victims of abuse - and it's the story of the women who risked everything to expose the truth and spark a global movement.Both a spy thriller and a meticulous work of investigative journalism, Catch and Kill breaks devastating new stories about the rampant abuse of power - and sheds far-reaching light on investigations that shook the culture.In a dramatic account of violence and espionage, Pulitzer Prize-winning investigative reporter Ronan Farrow exposes serial abusers and a cabal of powerful interests hell-bent on covering up the truth, at any cost.
No Rules Rules: Netflix and the Culture of Reinvention
Reed Hastings - 2020
It has led nothing short of a revolution in the entertainment industries, generating billions of dollars in annual revenue while capturing the imaginations of hundreds of millions of people in over 190 countries. But to reach these great heights, Netflix, which launched in 1998 as an online DVD rental service, has had to reinvent itself over and over again. This type of unprecedented flexibility would have been impossible without the counterintuitive and radical management principles that cofounder Reed Hastings established from the very beginning. Hastings rejected the conventional wisdom under which other companies operate and defied tradition to instead build a culture focused on freedom and responsibility, one that has allowed Netflix to adapt and innovate as the needs of its members and the world have simultaneously transformed.Hastings set new standards, valuing people over process, emphasizing innovation over efficiency, and giving employees context, not controls. At Netflix, there are no vacation or expense policies. At Netflix, adequate performance gets a generous severance, and hard work is irrel-evant. At Netflix, you don't try to please your boss, you give candid feedback instead. At Netflix, employees don't need approval, and the company pays top of market. When Hastings and his team first devised these unorthodox principles, the implications were unknown and untested. But in just a short period, their methods led to unparalleled speed and boldness, as Netflix quickly became one of the most loved brands in the world.Here for the first time, Hastings and Erin Meyer, bestselling author of The Culture Map and one of the world's most influential business thinkers, dive deep into the controversial ideologies at the heart of the Netflix psyche, which have generated results that are the envy of the business world. Drawing on hundreds of interviews with current and past Netflix employees from around the globe and never-before-told stories of trial and error from Hastings's own career, No Rules Rules is the fascinating and untold account of the philosophy behind one of the world's most innovative, imaginative, and successful companies.
The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger
Marc Levinson - 2006
From that modest beginning, container shipping developed into a huge industry that made the boom in global trade possible. "The Box" tells the dramatic story of the container's creation, the decade of struggle before it was widely adopted, and the sweeping economic consequences of the sharp fall in transportation costs that containerization brought about.Published on the fiftieth anniversary of the first container voyage, this is the first comprehensive history of the shipping container. It recounts how the drive and imagination of an iconoclastic entrepreneur, Malcom McLean, turned containerization from an impractical idea into a massive industry that slashed the cost of transporting goods around the world and made the boom in global trade possible.But the container didn't just happen. Its adoption required huge sums of money, both from private investors and from ports that aspired to be on the leading edge of a new technology. It required years of high-stakes bargaining with two of the titans of organized labor, Harry Bridges and Teddy Gleason, as well as delicate negotiations on standards that made it possible for almost any container to travel on any truck or train or ship. Ultimately, it took McLean's success in supplying U.S. forces in Vietnam to persuade the world of the container's potential.Drawing on previously neglected sources, economist Marc Levinson shows how the container transformed economic geography, devastating traditional ports such as New York and London and fueling the growth of previously obscure ones, such as Oakland. By making shipping so cheap that industry could locate factories far from its customers, the container paved the way for Asia to become the world's workshop and brought consumers a previously unimaginable variety of low-cost products from around the globe.
No Future Without Forgiveness
Desmond Tutu - 1999
Never had any country sought to move forward from despotism to democracy both by exposing the atrocities committed in the past and achieving reconciliation with its former oppressors. At the center of this unprecedented attempt at healing a nation has been Archbishop Desmond Tutu, whom President Nelson Mandela named as Chairman of the Truth and Reconciliation Commission. With the final report of the Commission just published, Archbishop Tutu offers his reflections on the profound wisdom he has gained by helping usher South Africa through this painful experience.In No Future Without Forgiveness, Tutu argues that true reconciliation cannot be achieved by denying the past. But nor is it easy to reconcile when a nation "looks the beast in the eye." Rather than repeat platitudes about forgiveness, he presents a bold spirituality that recognizes the horrors people can inflict upon one another, and yet retains a sense of idealism about reconciliation. With a clarity of pitch born out of decades of experience, Tutu shows readers how to move forward with honesty and compassion to build a newer and more humane world.
The Economics of Just About Everything
Andrew Leigh - 2014
Economics has things to say about AC/DC and Arthur Boyd, dating and dieting, Grange and Geelong, murder and poverty. Incentives matter, often in surprising ways, and seemingly simple everyday activities can have unexpected outcomes. Insights from behavioural economics can also help us make better decisions.If you like fresh facts and provocative ideas, this is great train and weekend reading. You'll soon see the world and the people around you in a new light.'Essential reading for the 21st century' - Karl Kruszelnicki'Economics isn't the only thing, but Andrew Leigh reminds us that it can explain almost everything.' - George Megalogenis'What do you get when you cross a politician with an economist? A captivating, charming, and nicely-written book. Who knew?' - Annabel CrabbAndrew Leigh is the federal member for Fraser, ACT. He has a PhD from Harvard, was a Professor of Economics at the Australian National University, appears regularly in the media, and is author of several books, including Battlers and Billionaires.