The Man Who Broke Capitalism: How Jack Welch Gutted the Heartland and Crushed th

Description: The Man Who Broke Capitalism by David Gelles New York Times BestsellerNew York Times reporter and "Corner Office" columnist David Gelles reveals legendary GE CEO Jack Welch to be the root of all thats wrong with capitalism today and offers advice on how we might right those wrongs. FORMAT Paperback LANGUAGE English CONDITION Brand New Publisher Description New York Times Bestseller New York Times reporter and "Corner Office" columnist David Gelles reveals legendary GE CEO Jack Welch to be the root of all thats wrong with capitalism today and offers advice on how we might right those wrongs.In 1981, Jack Welch took over General Electric and quickly rose to fame as the first celebrity CEO. He golfed with presidents, mingled with movie stars, and was idolized for growing GE into the most valuable company in the world. But Welchs achievements didnt stem from some greater intelligence or business prowess. Rather, they were the result of a sustained effort to push GEs stock price ever higher, often at the expense of workers, consumers, and innovation. In this captivating, revelatory book, David Gelles argues that Welch single-handedly ushered in a new, cutthroat era of American capitalism that continues to this day. Gelles chronicles Welchs campaign to vaporize hundreds of thousands of jobs in a bid to boost profits, eviscerating the countrys manufacturing base, and destabilizing the middle class. Welchs obsession with downsizing—he eliminated 10% of employees every year—fundamentally altered GE and inspired generations of imitators who have employed his strategies at other companies around the globe. In his day, Welch was corporate Americas leading proponent of mergers and acquisitions, using deals to gobble up competitors and giving rise to an economy that is more concentrated and less dynamic. And Welch pioneered the dark arts of "financialization," transforming GE from an admired industrial manufacturer into what was effectively an unregulated bank. The finance business was hugely profitable in the short term and helped Welch keep GEs stock price ticking up. But ultimately, financialization undermined GE and dozens of other Fortune 500 companies. Gelles shows how Welchs celebrated emphasis on increasing shareholder value by any means necessary (layoffs, outsourcing, offshoring, acquisitions, and buybacks, to name but a few tactics) became the norm in American business generally. He demonstrates how that approach has led to the greatest socioeconomic inequality since the Great Depression and harmed many of the very companies that have embraced it. And he shows how a generation of Welch acolytes radically transformed companies like Boeing, Home Depot, Kraft Heinz, and more. Finally, Gelles chronicles the change that is now afoot in corporate America, highlighting companies and leaders who have abandoned Welchism and are proving that it is still possible to excel in the business world without destroying livelihoods, gutting communities, and spurning regulation. Author Biography David Gelles is the "Corner Office" columnist and a business reporter for the New York Times. Since joining the Times in 2013, he has written about CEOs, finance, technology, media, and more. He was part of the team that covered the fallout from the crashes of two Boeing 737 Max jets, work that won the 2020 Gerald Loeb Award for Breaking News Reporting. A student of Buddhism and a meditator for more than twenty years, David is an authority on the intersection of mindfulness and the business world. His 2015 book, Mindful Work: How Meditation is Changing Business from the Inside Out, was published by Houghton Mifflin Harcourt. Before joining the Times, he was a reporter for the Financial Times. Details ISBN1982176423 Author David Gelles Short Title The Man Who Broke Capitalism Publisher Simon & Schuster Language English Year 2023 ISBN-10 1982176423 ISBN-13 9781982176426 Format Paperback DEWEY 330.122092 Pages 288 NZ Release Date 2023-06-22 Imprint Simon & Schuster Place of Publication New York Country of Publication United States UK Release Date 2023-07-20 Subtitle How Jack Welch Gutted the Heartland and Crushed the Soul of Corporate America—and How to Undo His Legacy Alternative 9781982176440 Audience General AU Release Date 2023-08-15 Publication Date 2023-07-20 US Release Date 2023-07-20 We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:160748883;

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