Download or read book King of Capital written by David Carey and published by Crown Currency. This book was released on 2012-02-07 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The story of Steve Schwarzman, Blackstone, and a financial revolution, King of Capital is the greatest untold success story on Wall Street. In King of Capital, David Carey and John Morris show how Blackstone (and other private equity firms) transformed themselves from gamblers, hostile-takeover artists, and ‘barbarians at the gate’ into disciplined, risk-conscious investors while the financial establishment—banks and investment bankers such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, Morgan Stanley—were recklessly assuming risks, leveraging up to astronomical levels and driving the economy to the brink of disaster. Now, not only have Blackstone and a small coterie of competitors wrested control of corporations around the globe, but they have emerged as a major force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. Insightful and hard-hitting, filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Schwarzman and Peter Peterson, King of Capital shows how Blackstone and private equity will drive the economy and provide a model for how financing will work in the years to come.
Download or read book King of Capital written by Amey Stone and published by John Wiley & Sons. This book was released on 2004-03-17 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fascinating story of a legendary dealmaker who masterminded an unprecedented merger Citigroup CEO Sandy Weill orchestrated many deals over his legendary forty-five year career—none bigger than the 1998 epic merger of Travelers and Citibank to create the international conglomerate, Citigroup. King of Capital tells the compelling story of how this complex man revolutionized the banking world and transformed Citigroup through a combination of mergers and powerplays. Throughout his entire career Weill has created successful businesses out of smaller, seemingly unworkable pieces; filled product vacuums no one else even realized were void; and forced issues that no one else had the gumption to tackle. His daring dealmaking tactics were never more evident than while forming Citigroup, as he lobbied Congress to deregulate the financial services industry and ousted his co-CEO in a public power struggle. Through an engaging narrative by financial writers Amey Stone and Mike Brewster, King of Capital chronicles the legacy of Sandy Weill that began taking shape in 1970 with the creation of Shearson, was honed during his tenure at American Express, and continues as he leads one of the world's largest banks. Along with probing Weill's signature business deals, King of Capital traces the path this feared, envied, and admired man took to get to the top. Readers will gain valuable insight into the strategies and tactics of this admired dealmaker-including his ability to turn a workforce into a family, with all the love, loyalty, battles and heartbreaks. What distinguishes Weill from the run-of-the mill executive is a laser-like focus on what he wants, trust in his lieutenants, and incredible belief in himself-conviction that he did not always possess. Weill, cowed by Bensonhurst bullies as a child, hazed as a military school plebe, intimidated by the strong personalities of some his early partners, has defied all expectations to become a CEO whose deals have had lasting impact on global finance and the economy. Amey Stone (New York, NY) has more than ten years of experience as a financial writer. Currently, she is an Associate Editor at BusinessWeek Online, where she cowrites the daily "Street Wise" column, and is responsible for writing many of the site's lead stories on business trends, technology, and the economy, including several articles covering Citigroup and Sandy Weill. Mike Brewster (New York, NY) is an accomplished writer, editor and financial services professional. He recently launched a career magazine called Leaders Online.
Download or read book The Masters of Private Equity and Venture Capital written by Robert Finkel and published by McGraw Hill Professional. This book was released on 2009-12-21 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ten Leading private investors share their secrets to maximum profitability In The Masters of Private Equity and Venture Capital, the pioneers of the industry share the investing and management wisdom they have gained by investing in and transforming their portfolio companies. Based on original interviews conducted by the authors, this book is filled with colorful stories on the subjects that most matter to the high-level investor, such as selecting and working with management, pioneering new markets, adding value through operational improvements, applying private equity principles to non-profits, and much more.
Download or read book What It Takes written by Stephen A. Schwarzman and published by Avid Reader Press / Simon & Schuster. This book was released on 2019-09-17 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER From Blackstone chairman, CEO, and co-founder Stephen A. Schwarzman, a long-awaited book that uses impactful episodes from Schwarzman's life to show readers how to build, transform, and lead thriving organizations. Whether you are a student, entrepreneur, philanthropist, executive, or simply someone looking for ways to maximize your potential, the same lessons apply. People know who Stephen Schwarzman is—at least they think they do. He’s the man who took $400,000 and co-founded Blackstone, the investment firm that manages over $500 billion (as of January 2019). He’s the CEO whose views are sought by heads of state. He’s the billionaire philanthropist who founded Schwarzman Scholars, this century’s version of the Rhodes Scholarship, in China. But behind these achievements is a man who has spent his life learning and reflecting on what it takes to achieve excellence, make an impact, and live a life of consequence. Folding handkerchiefs in his father’s linen shop, Schwarzman dreamed of a larger life, filled with purpose and adventure. His grades and athleticism got him into Yale. After starting his career in finance with a short stint at a financial firm called DLJ, Schwarzman began working at Lehman Brothers where he ascended to run the mergers and acquisitions practice. He eventually partnered with his mentor and friend Pete Peterson to found Blackstone, vowing to create a new and different kind of financial institution. Building Blackstone into the leading global financial institution it is today didn’t come easy. Schwarzman focused intensely on culture, hiring great talent, and establishing processes that allow the firm to systematically analyze and evaluate risk. Schwarzman’s simple mantra “don’t lose money” has helped Blackstone become a leading private equity and real estate investor, and manager of alternative assets for institutional investors globally. Both he and the firm are known for the rigor of their investment process, their innovative approach to deal making, the diversification of their business lines, and a conviction to be the best at everything they do. Schwarzman is also an active philanthropist, having given away more than a billion dollars. In philanthropy, as in business, he is drawn to situations where his capital and energy can be applied to drive transformative solutions and change paradigms, notably in education. He uses the skills learned over a lifetime in finance to design, establish, and support impactful and innovative organizations and initiatives. His gifts have ranged from creating a new College of Computing at MIT for the study of artificial intelligence, to establishing a first-of-its-kind student and performing arts center at Yale, to enabling the renovation of the iconic New York Public Library, to founding the Schwarzman Scholars fellowship program at Tsinghua University in Beijing—the single largest philanthropic effort in China’s history from international donors. Schwarzman’s story is an empowering, entertaining, and informative guide for anyone striving for greater personal impact. From deal making to investing, leadership to entrepreneurship, philanthropy to diplomacy, Schwarzman has lessons for how to think about ambition and scale, risk and opportunities, and how to achieve success through the relentless pursuit of excellence. Schwarzman not only offers readers a thoughtful reflection on all his own experiences, but in doing so provides a practical blueprint for success.
Download or read book The Matter of Capital written by Christopher Nealon and published by Harvard University Press. This book was released on 2011-04 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Christopher Nealon’s reexamination of North America’s poetry in English, from Ezra Pound and W. H. Auden to younger poets of the present day, argues persuasively that the central literary project of the past century was to explore the relationship between poetry and capitalism—its impact on individuals, communities, and cultures.
Download or read book Lessons from Private Equity Any Company Can Use written by Orit Gadiesh and published by Harvard Business Press. This book was released on 2008-02-07 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms are snapping up brand-name companies and assembling portfolios that make them immense global conglomerates. They're often able to maximize investor value far more successfully than traditional public companies. How do PE firms become such powerhouses? Learn how, in Lessons from Private Equity Any Company Can Use. Bain chairman Orit Gadiesh and partner Hugh MacArthur use the concise, actionable format of a memo to lay out the five disciplines that PE firms use to attain their edge: · Invest with a thesis using a specific, appropriate 3-5-year goal · Create a blueprint for change--a road map for initiatives that will generate the most value for your company within that time frame · Measure only what matters--such as cash, key market intelligence, and critical operating data · Hire, motivate, and retain hungry managers--people who think like owners · Make equity sweat--by making cash scarce, and forcing managers to redeploy underperforming capital in productive directions This is the PE formulate for unleashing a company's true potential.
Download or read book Raising Capital written by Andrew J. Sherman and published by AMACOM Div American Mgmt Assn. This book was released on 2012 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive guide for growing companies in need of funds.
Download or read book Capital Consequences written by Rachel King and published by Rutgers University Press. This book was released on 2005 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Those who support capital punishment often claim that they do so because it provides justice and closure for the victims' families. In Capital Consequences, attorney Rachel King reminds us that there are other families and other victims who must be considered in the debate over the death penalty. Combining a narrative voice with vivid, passionate, and painful accounts of the families of death row inmates, the book demonstrates that crimes that lead to death sentences also devastate the families of those convicted. These families, King argues, are the unseen victims of capital punishment. King challenges readers to question the morality of a punishment that victimizes families of the condemned and ripples out through future generations. Chapters tell the stories of families that have lost life savings supporting an accused loved one, endured intense public scrutiny, been subjected to harassment by the media, and are struggling to live with the inhumane treatment that their loved ones receive on death row. The author also explores the unique nature of the grief that these families suffer. Because their pain tends to elicit less attention and empathy than that of the crime victims' families, King shows how it becomes much more desperate and isolating. On a human level, this book is a powerful reminder that tragic events have tragic consequences that far outreach their immediate victims. At the same time, the accounts illustrate many of the flaws inherent in the judicial system--racial and economic bias, incompetent counsel, prosecutorial misconduct, the execution of juveniles, and wrongful convictions, some of which are only now being overturned because of recent advances in DNA technology. Regardless of which side of the death penalty issue you are on, this book will lead you to pause and consider that all acts--criminal and retributive--have broader human implications than we are sometimes willing to realize.
Download or read book My Capital written by Robertson and published by Carson-Dellosa Publishing. This book was released on 2010-08-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Young Readers Learn About Washington, Dc Through Simple Text And Photos.
Download or read book Dream Big written by Cristiane Correa and published by Sextante. This book was released on 2014-04-24 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: “My friend – and now partner – Jorge Paulo and his team are among the best businessmen in the world. He is a fantastic person and his story should be an inspiration to everybody, as it is for me.” – Warren Buffett In just over forty years, Jorge Paulo Lemann, Marcel Telles and Beto Sicupira built the biggest empire in the history of Brazilian capitalism and launched themselves onto the world stage in an unprecedented way. Over the past five years, they have acquired no fewer than three globally-recognized American brands: Budweiser, Burger King and Heinz. This has been achieved as discreetly as possible and they have shunned any personal publicity. The management method they developed, which has been zealously followed by their employees, is based on meritocracy, simplicity and constant cost cutting. Their culture is as efficient as it is merciless and leaves no room for mediocre performances. On the other hand, those who bring in exceptional results have the chance to become company partners and make a fortune. Dream Big presents a detailed behind-the-scenes portrait of the meteoric rise of these three businessmen, from the founding of Banco Garantia in the 1970s to the present day. In 1971, when the Brazilian stock market was going through an euphoria, Harvard graduate, tennis champion and underwater fishing enthusiast from Rio de Janeiro Jorge Paulo Lemann decided to start a new business. He assembled some partners and put out a newspaper ad: “Brokerage wanted.” Days later, Lemann began running what would become the cornerstone of his fortune and those of over 200 other people. Its name was Garantia. The “Garantia model” was based on businesses that impressed Lemann, such as Goldman Sachs in finance and Walmart in retail. Its philosophy gave the best workers the opportunity to become shareholders.
Download or read book Capital Without Borders written by Brooke Harrington and published by Harvard University Press. This book was released on 2016-09-12 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A timely account of how the 1% holds on to their wealth...Ought to keep wealth managers awake at night.” —Wall Street Journal “Harrington advises governments seeking to address inequality to focus not only on the rich but also on the professionals who help them game the system.” —Richard Cooper, Foreign Affairs “An insight unlike any other into how wealth management works.” —Felix Martin, New Statesman “One of those rare books where you just have to stand back in awe and wonder at the author’s achievement...Harrington offers profound insights into the world of the professional people who dedicate their lives to meeting the perceived needs of the world’s ultra-wealthy.” —Times Higher Education How do the ultra-rich keep getting richer, despite taxes on income, capital gains, property, and inheritance? Capital without Borders tackles this tantalizing question through a groundbreaking multi-year investigation of the men and women who specialize in protecting the fortunes of the world’s richest people. Brooke Harrington followed the money to the eighteen most popular tax havens in the world, interviewing wealth managers to understand how they help their high-net-worth clients dodge taxes, creditors, and disgruntled heirs—all while staying just within the letter of the law. She even trained to become a wealth manager herself in her quest to penetrate the fascinating, shadowy world of the guardians of the one percent.
Download or read book Invisible Capital written by Chris Rabb and published by ReadHowYouWant.com. This book was released on 2011-08-18 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Writer, consultant and speaker Chris Rabb coined the term invisible capital to represent the unseen forces that dramatically impact entrepreneurial viability when a good attitude, a great idea, and hard work simply aren't enough. In his book, Invisible Capital: How Unseen Forces Shape Entrepreneurial Opportunity, Rabb puts forth concrete and...
Download or read book Natural Resources as Capital written by Larry Karp and published by MIT Press. This book was released on 2017-10-27 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to the concepts and tools of natural resource economics, including dynamic models, market failures, and institutional remedies. This introduction to natural resource economics treats resources as a type of capital; their management is an investment problem requiring forward-looking behavior within a dynamic setting. Market failures are widespread, often associated with incomplete or nonexistent property rights, complicated by policy failures. The book covers standard resource economics topics, including both the Hotelling model for nonrenewable resources and models for renewable resources. The book also includes some topics in environmental economics that overlap with natural resource economics, including climate change. The text emphasizes skills and intuition needed to think about dynamic models and institutional remedies in the presence of both market and policy failures. It presents the nuts and bolts of resource economics as applied to nonrenewable resources, including the two-period model, stock-dependent costs, and resource scarcity. The chapters on renewable resources cover such topics as property rights as an alternative to regulation, the growth function, steady states, and maximum sustainable yield, using fisheries as a concrete setting. Other, less standard, topics covered include microeconomic issues such as arbitrage and the use of discounting; policy problems including the “Green Paradox”; foundations for policy analysis when market failures are important; and taxation. Appendixes offer reviews of the relevant mathematics. The book is suitable for use by upper-level undergraduates or, with the appendixes, masters-level courses.
Download or read book Private Equity at Work written by Eileen Appelbaum and published by Russell Sage Foundation. This book was released on 2014-03-31 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.
Download or read book Capital in the Twenty First Century written by Thomas Piketty and published by Harvard University Press. This book was released on 2017-08-14 with total page 817 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Download or read book Race Capital written by Andrew M. Fearnley and published by Columbia University Press. This book was released on 2018-11-27 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: For close to a century, Harlem has been the iconic black neighborhood widely seen as the heart of African American life and culture, both celebrated as the vanguard of black self-determination and lamented as the face of segregation. But with Harlem’s demographic, physical, and commercial landscapes rapidly changing, the neighborhood’s status as a setting and symbol of black political and cultural life looks uncertain. As debate swirls around Harlem’s present and future, Race Capital? revisits a century of the area’s history, culture, and imagery, exploring how and why it achieved its distinctiveness and significance and offering new accounts of Harlem’s evolving symbolic power. In this book, leading scholars consider crucial aspects of Harlem’s social, political, and intellectual history; its artistic, cultural, and economic life; and its representation across an array of media and genres. Together they reveal a community at once local and transnational, coalescing and conflicted; one that articulated new visions of a cosmopolitan black modernity while clashing over distinctions of ethnicity, gender, class, and sexuality. Topics explored include Harlem as a literary phenomenon; recent critiques of Harlem exceptionalism; gambling and black business history; the neighborhood’s transnational character; its importance in the black freedom struggle; black queer spaces; and public policy and neighborhood change in historical context. Spanning a century, from the emergence of the Harlem Renaissance to present-day controversies over gentrification, Race Capital? models new Harlem scholarship that interrogates exceptionalism while taking seriously the importance of place and locality, offering vistas onto new directions for African American and diasporic studies.
Download or read book On the Future written by Martin Rees and published by Princeton University Press. This book was released on 2021-10-05 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: A provocative and inspiring look at the future of humanity and science from world-renowned scientist and bestselling author Martin Rees Humanity has reached a critical moment. Our world is unsettled and rapidly changing, and we face existential risks over the next century. Various outcomes—good and bad—are possible. Yet our approach to the future is characterized by short-term thinking, polarizing debates, alarmist rhetoric, and pessimism. In this short, exhilarating book, renowned scientist and bestselling author Martin Rees argues that humanity’s prospects depend on our taking a very different approach to planning for tomorrow. The future of humanity is bound to the future of science and hinges on how successfully we harness technological advances to address our challenges. If we are to use science to solve our problems while avoiding its dystopian risks, we must think rationally, globally, collectively, and optimistically about the long term. Advances in biotechnology, cybertechnology, robotics, and artificial intelligence—if pursued and applied wisely—could empower us to boost the developing and developed world and overcome the threats humanity faces on Earth, from climate change to nuclear war. At the same time, further advances in space science will allow humans to explore the solar system and beyond with robots and AI. But there is no “Plan B” for Earth—no viable alternative within reach if we do not care for our home planet. Rich with fascinating insights into cutting-edge science and technology, this accessible book will captivate anyone who wants to understand the critical issues that will define the future of humanity on Earth and beyond.
