Business Adventures: Twelve Classic Tales from the World of Wall Street

Name: Business Adventures: Twelve Classic Tales from the World of Wall Street
SKU: 124305
Availability: InStock

4.2 | 5,348 ratings

Price: 17.72

Last update: 08-27-2024

About this item

From Wall Street to Main Street, John Brooks, longtime contributor to the New Yorker, brings to life in vivid fashion 12 classic and timeless tales of corporate and financial life in America

What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety; these notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.

Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. John Brooks’ insightful reportage is so full of personality and critical detail that whether he is looking at the astounding market crash of 1962, the collapse of a well-known brokerage firm, or the bold attempt by American bankers to save the British pound, one gets the sense that history repeats itself.

Five additional stories on equally fascinating subjects round out this wonderful collection that will both entertain and inform listeners... Business Adventures is truly financial journalism at its liveliest and best.

BookBob

Before "Greed was Good"

Reviewed in the United States on July 14, 2014

This is a glimpse into the Golden 60's when American Industry provided a good prospect and promise for the middle class. The 1960's saw US leadership in technology, winning with the Race to the Moon, and a revolution in Women & Civil rights. Mr. Brooks spot lighted a series of case studies featuring US companies and stock market events from that Era. It's interesting that a copy machine made by Xerox cost the price of a stately home, and required a skilled technician to operate it. Also a fire extinguisher was provided as a standby if it caught on fire. Yet Xerox was a top line growth company that made its investors big returns.

I like this book for the following reasons: it's speaks to America Innovation and investors who had the courage to hang in there and bear the up and downs. 2) It demonstrates the fact that leadership requires set- backs & those companies that accepted the risk will learn and succeed. 3) it gives me hope that stock market investors will learn from the in depth analysis Mr. Brooks brought forward that investing in truly motivated companies with the guts to innovate are worth putting forth your money & time to invest in. Finally it's a lesson into studying & seeking companies focused on producing leading edge products regardless of the quarterly bottom line, and weekly up & downs of global events.

The early printings of this book are impossible to find. Therefore, Mr. Buffet & Gates have come forth to reveal this lost treasure providing lessons from our past, and hopefully will instill a new (but old) way of thinking on how to seek and invest in top businesses. Reading this book has change my perspective on investing (maybe long term investing in the right companies is the way to go), and I truly feel it's worth the read if you plan to invest in the stock market. Also, it reads very well and is simply enjoyable.

A classic that presents useful lessons for today's business world.

Reviewed in the United States on April 26, 2016

While it would be easy to criticize Business Adventures, a book first published generations ago, for detailing business stories that took place generations ago, the book still gives some insight useful for today’s business world.

Strengths. This book covers many well-known companies that would probably be recognized by people who were baby boomers or older. The book covers a wide range of industries including automotive, aerospace, office equipment, and utilities.

While strategy books often cover the good decisions good companies make and the poor decisions that doom failing companies, Business Adventures also adds in some poor decisions good companies make. The Edsel chapter features Ford making a poor decision in releasing a new product. There is even a chapter about G.E., a very well known company, which is used to display how poor communication can having devastating effects on a company’s employees.

Business decisions are not made inside of a vacuum. Business Adventures provides useful information about the events leading up to decisions. When telling about the crash of ‘62, it tells how the delay in getting in orders precipitated panic that led to big sell offs.

In the Piggly Wiggly case, the author brings to light the idea of corners in the stock market and how they impact businesses. Personally, this was a very interesting topic to delve into and learn more about as the book reveals how one wealthy businessman was able to upheave the stock market for a period of time and go so far as to create his own little private stock market (which consisted entirely of stocks for his company). In this very same case, the author also explains how Piggly Wiggly was the first instance of what is known as the modern day supermarket, another fact which really stood out when reading this chapter.

Another great point to mention about Business Adventures is the fact that the stories are presented in a very casual and interesting way. When Piggly Wiggly’s owner is described as carrying wads of money in his pockets because his suitcase was too full, a slight sense of comedy arises. This is one of the better features of the book as it keeps the reader hooked by entertaining them rather than throwing a bunch of tedious factual information about various companies and their successes/failures.

Weaknesses. As mentioned earlier, most of the companies featured would be recognized by those who were baby boomers or older. Readers looking to learn about newer companies will need to look elsewhere. There are a few companies that are acknowledged in the text that do stand out even today. However, all of the information being provided about those companies is outdated.

At times the book can get bogged down into minute details that do not add to the development of the chapter. This happens quite a few times in the Edsel chapter when the author goes into details of the many key players in the Edsel’s development and failure. This can also be seen in the G.E. chapter where there is constant mention of the “wink” which represents how lax the company was about its corporate policy 20.5.

Some people may not appreciate the style of the book as it explores the successes and failures of many different corporations rather than sticking to just one specific case. However, the stories of this carry enough lessons that even readers today can gain insight from it. Evidence of this is that it is recommended by a founder of a tech company (Bill Gates) and holding company focusing on large cap companies (Warren Buffet).

Customer Review

Lessons that are more applicable today than ever. Required reading for any business leader.

Reviewed in the United States on July 14, 2014

This is an exceptionally well written work with lessons more applicable today than ever before. It is the product of an insightful, knowledgeable, and intelligent journalist. It provides a level of depth not found in the current crop of business books that are characterized by Jack Welch style self-aggrandizing or pithy catch phrases intended to magically transform you into a leader.

This book goes to the heart of what makes a company not only profitable, but great. It touches on issues too often forgotten, or simply given lip service to, in modern business. Things like tenacity, investing for the long term, fair distribution of wealth, R&D, customer care. and social responsibility.

I was particularly struck by a comment from the then CEO of Xerox who said,

"The whole matter of committing the company to taking stands on major public issues raises questions that make us examine ourselves all the time. It's a matter of balance. You can't just be bland, or you throw away your influence. But you can't take a stand on every major issue, either. We don't think it's a corporation's job to take stands on national elections, for example. ..."

In an age of inversions, private equity, greed is good, and the Koch brothers, there are many valuable lessons to be learned here. Many of those have to do with the business ethics which too many modern companies have forgotten.

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