By Bob Benmosche
In 2009, on the height of the monetary drawback, AIG - the yank coverage behemoth - used to be sinking quick. It used to be the peg upon which the kingdom hung its ire and resentment throughout the monetary trouble: the top of Wall road vanity and greed. while Bob Benmosche climbed aboard as CEO, it was once generally assumed that he might move down along with his send. In mere months, he became issues round, pulling AIG from the edge of monetary cave in and restoring its profitability. earlier than 3 years have been up, AIG had totally repaid its outstanding debt to the U.S. executive - with interest.
Good for the money is an unyielding leader's memoir of a profession spent solving businesses via considerate, unconventional method. along with his brash, no-holds-barred method of the activity, Benmosche restored AIG's worker morale and reliable identify. His is a tale of perseverance, advised with fresh irreverence in unpretentious terms.
Called "an American hero" through Andrew Ross Sorkin, writer of Too tremendous to Fail, Benmosche was once a self-made guy who by no means forgot what existence is like for the nation's 99-percent; repeatedly, he driven again opposed to obstinate colleagues to salvage American jobs and undefined. Good for the Money offers you a front-row seat for Benmosche's heated battles with significant gamers from Geithner to Obama to Cuomo, and provides incomparable classes in management from the mythical CEO who replaced the way in which Wall highway does business.
Read or Download Good for the Money: My Fight to Pay Back America PDF
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I have learn Securities research entrance to again (yea, i do know. .. i am a faithful fan) and The clever Investor, between numerous different books on company company valuation - simply to set my credentials on the top.
And i need to say, this can be the most enjoyable i have had studying a publication shortly. if you might imagine Graham is horribly dry in his funding books--with his Victorian and impersonal English--here he does a good activity at writing an unique narrative of his lifestyles. i really discovered myself laughing-out-loud lovely not easy at a few of the strains in it.
The 30-page advent through Seymour Chatman is usually well-written. It does an exceptional activity of summarizing and highlighting the e-book. i might suggest you furthermore may learn it.
Even if you happen to do not care approximately Graham, you could deal with the booklet as an enjoyable piece of fiction, should you like. The ebook is that a lot enjoyable and the tales contained are sufficiently attention-grabbing via their very own advantage to maintain any reader guffawing, sobbing, and fortunately wanting to learn until eventually the belief.
There is not any e-book preview on amazon, so i'll use this assessment to give an explanation for the overall contents of the book:
Starting web page - bankruptcy title
vii - creation through Seymour Chatman (roughly 30 pages long)
1 - youth in New York
19 - relatives Tragedies and My Mother's Perseverance
37 - At Public School
55 - highschool Days: Brooklyn and the Bronx
73 - The Farmhand and The Mechanic
93 - the varsity Student
123 - My occupation Begins
141 - Early Years in Wall Street
163 - The Beginnings of actual Success
185 - the good Bull industry of the Nineteen Twenties: I turn into a close to Millionaire
199 - The Northern Pipeline Contest
217 - family members and different Affairs
247 - The Midpoint of Life's means: The Deluge Begins
267 - the line again, 1933-1940
279 - My "Career" as a Playwright
293 - The Commodity Reserve foreign money Plan
309 - Epilogue: Benjamin Graham's Self-Portrait at Sixty-Three and his 80th Birthday Speech
The submit script contains:
317 - Chronology
327 - Notes
337 - Bibliography of Writings via and approximately Benjamin Graham
343 - Index
You will see from the bankruptcy record that this ebook comprises NO funding recommendation. Please learn any version of "Securities research" (except the fifth variation isn't really co-authored through Graham, yet written solely by way of Dodd and some people) and "The clever Investor" for Graham's assistance and guide on funding research.
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Think brooding about your company's details expertise within the comparable approach that you simply take into consideration its funding portfolio: as a package of resources that - while controlled correct - will generate sales and discount rates. this is simply this type of framework for leveraging IT (technology, networks, info, and software program) - person who permits company managers to make the $64000 judgements in regards to the in all probability confounding mixture of high-technology that impacts close to- and long term making plans, impacts the facility to help consumers, and dictates the move of day-by-day operations.
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Extra resources for Good for the Money: My Fight to Pay Back America
And it’s time that the people in Congress stop talking about you as the problem. ” The attacks on AIG had gone beyond angry rhetoric to outright threats. The children of some workers in Connecticut were beaten up at school and some employees were being harassed online and confronted in person. I needed them to hear me loud and clear on the issue that is—let’s face it—foremost in the mind of every worker, everywhere. ” I also referred to the divestiture plan that had been worked out by departing CEO Liddy and his restructuring expert, Paula Reynolds, a plan I had absolutely no intention of following.
I would be CEO No. 5 in that line. Lucky me. Sure, I knew that wading into this situation would be messy. I just hadn’t fully calculated the magnitude of the mess. In fact, on Monday, August 3, 2009, my very first day in AIG’s offices in Manhattan’s Financial District, the groundwork was being laid for an attempt at neutering my leadership. I would soon find that a powerful faction within the company was opposed to the direction in which I planned to take it. Hanging in the balance was the fate of what was then the world’s largest insurance company, a firm with a trillion dollars in assets and dealings in 130 nations.
I don’t know why you want me,” I said to Summers. “I don’t think you guys can handle what needs to be done. ” Summers assured me that in the end Geithner’s reservations would not be an obstacle. I was “the guy”—a sentiment echoed by Feinberg, best known as the special master of the September 11th Victim Compensation Fund, and who had been named special master (or “pay czar”) for executive compensation under TARP. In that capacity, he would have to approve any salary I received from AIG—and unlike Liddy, I had no intention of being an unpaid volunteer.