The White Sharks of Wall Street

The White Sharks of Wall Street
Author: Diana B. Henriques
Publisher: Simon and Schuster
Total Pages: 392
Release: 2001-04-02
Genre: Biography & Autobiography
ISBN: 0743202678

It almost seems that Thomas Mellon Evans was a man so far ahead of his contemporaries that he had moved into the shadows before the full force of his business style had dawned on the rest of corporate America. At every step in his career, he was barging in where few would follow -- at first. But follow they did, at last." -- from the Prologue The first in-depth portrait of the life and times of the trailblazing financier Thomas Mellon Evans -- the man who pursued wealth and power in the 1950s with a brash ruthlessness that forever changed the face of corporate America. Long before Michael Milken was using junk bonds to finance corporate takeovers, Thomas Mellon Evans used debt, cash, and the tax code to obtain control of more than eighty American companies. Long before investors began to lobby for "shareholder's rights," Evans was demanding that public companies be run only for their shareholders -- not for their employees, their executives, or their surrounding communities. To some, Evans's merciless style presaged much that is wrong with corporate life today. To others, he intuitively knew what was needed to keep America competitive in the wake of a global war. In The White Sharks of Wall Street, New York Times investigative reporter Diana Henriques provides the first biography of this pivotal figure in American business history. She also portrays the other pioneering corporate raiders of the postwar period, such as Robert Young and Louis Wolfson, and shows how these men learned from one another and advanced one another's takeover tactics. She relates in dramatic detail a number of important early takeover fights -- Wolfson's challenge to Montgomery Ward, Young's move on the New York Central Railroad, the fight for Follansbee Steel -- and shows how they foreshadowed the desperate battle waged by Tom Evans's son, Ned Evans, to keep the British raider Robert Maxwell away from his Macmillan publishing empire during the 1980s. Henriques also reaches beyond the business arena to tally the tragic personal cost of Evans's pursuit of success and to show how the family dynasty shattered when his sons were driven by his own stubbornness and pride to become his rivals. In the end, the battling patriarch faced his youngest son in a poignant battle for control at the Crane Company, the once-famous Chicago plumbing and valve company that Tom Evans had himself seized in a brilliant takeover coup twenty-five years earlier. The White Sharks of Wall Street is a fascinating portrait of an extraordinary man, whose career blazed across the sky and then sank into obscurity -- but not before he had provided the template for how American business would operate for the next four decades.

The White Sharks of Wall Street

The White Sharks of Wall Street
Author: Diana B. Henriques
Publisher: Simon and Schuster
Total Pages: 392
Release: 2001-04-02
Genre: Biography & Autobiography
ISBN: 0743202678

It almost seems that Thomas Mellon Evans was a man so far ahead of his contemporaries that he had moved into the shadows before the full force of his business style had dawned on the rest of corporate America. At every step in his career, he was barging in where few would follow -- at first. But follow they did, at last." -- from the Prologue The first in-depth portrait of the life and times of the trailblazing financier Thomas Mellon Evans -- the man who pursued wealth and power in the 1950s with a brash ruthlessness that forever changed the face of corporate America. Long before Michael Milken was using junk bonds to finance corporate takeovers, Thomas Mellon Evans used debt, cash, and the tax code to obtain control of more than eighty American companies. Long before investors began to lobby for "shareholder's rights," Evans was demanding that public companies be run only for their shareholders -- not for their employees, their executives, or their surrounding communities. To some, Evans's merciless style presaged much that is wrong with corporate life today. To others, he intuitively knew what was needed to keep America competitive in the wake of a global war. In The White Sharks of Wall Street, New York Times investigative reporter Diana Henriques provides the first biography of this pivotal figure in American business history. She also portrays the other pioneering corporate raiders of the postwar period, such as Robert Young and Louis Wolfson, and shows how these men learned from one another and advanced one another's takeover tactics. She relates in dramatic detail a number of important early takeover fights -- Wolfson's challenge to Montgomery Ward, Young's move on the New York Central Railroad, the fight for Follansbee Steel -- and shows how they foreshadowed the desperate battle waged by Tom Evans's son, Ned Evans, to keep the British raider Robert Maxwell away from his Macmillan publishing empire during the 1980s. Henriques also reaches beyond the business arena to tally the tragic personal cost of Evans's pursuit of success and to show how the family dynasty shattered when his sons were driven by his own stubbornness and pride to become his rivals. In the end, the battling patriarch faced his youngest son in a poignant battle for control at the Crane Company, the once-famous Chicago plumbing and valve company that Tom Evans had himself seized in a brilliant takeover coup twenty-five years earlier. The White Sharks of Wall Street is a fascinating portrait of an extraordinary man, whose career blazed across the sky and then sank into obscurity -- but not before he had provided the template for how American business would operate for the next four decades.

Wall Street

Wall Street
Author: Charles R. Geisst
Publisher: Oxford University Press
Total Pages: 585
Release: 2018
Genre: Business & Economics
ISBN: 0190613548

A timely update of the authoritative, engaging history of Wall Street and its role in the economic history of the United States and the world.

Wall Street: A History

Wall Street: A History
Author: Charles R. Geisst
Publisher: Oxford University Press, USA
Total Pages: 450
Release: 2004-02-20
Genre: Business & Economics
ISBN: 0199883610

In the seven years since the publication of the first edition of Wall Street, America's financial industry has undergone a series of wrenching events that have dramatically changed the nation's economic landscape. The bull market of the 1990's came to a close, ushering in the end of the dot com boom, a record number of mergers occurred, and accounting scandals in companies like Enron and WorldCom shook the financial industry to its core. In this wide-ranging volume, financial historian Charles Geisst provides the first history of Wall Street, explaining how a small, concentrated pocket of lower Manhattan came to have such enormous influence in national and world affairs. In this updated edition, Geisst sums up the recent turbulence that has threatened America's financial industry. He shows how in 1997 thirty NASDAQ market makers paid a record $1.3 billion fine for price irregularities in stocks. He makes sense of the closing of the bull market, and explains a major change in the accounting rules for mergers that caused monumental losses for companies like AOL Time Warner. And he recounts how in the aftermath of the speculative fever that swept Wall Street in the 1990's, the scandals at Enron, Tyco, Worldcom, and Conseco represent a last gasp of mergermania and a fallout from a bubble-like market. Wall Street is at once the story of the street itself, from the days when the wall was merely a defensive barricade built by Peter Stuyvesant, to the modern billion-dollar computer-driven colossus of today. In a broader sense it is an engaging economic history of the United States, the role Wall Street played in making America the most powerful economy in the world, and the many challenges to that role it has faced in recent years.

Constructing Corporate America

Constructing Corporate America
Author: Kenneth Lipartito
Publisher: Oxford University Press, USA
Total Pages: 396
Release: 2004
Genre: Business & Economics
ISBN: 9780199251896

This collection of cutting-edge research reviews the evolution of the American corporation, the dominant trends in the way it has been studied, and at the same time introduces some new perspectives on the historical trajectory of the business organization as a social institution. The authors draw on cultural theory, anthropology, political theory and legal history to consider the place of the firm in nineteenth and twentieth-century American Society.

Wall Street Women

Wall Street Women
Author: Melissa S. Fisher
Publisher: Duke University Press
Total Pages: 242
Release: 2012-06-19
Genre: Business & Economics
ISBN: 0822353458

Wall Street Women tells the story of the first generation of women to establish themselves as professionals on Wall Street. Since these women, who began their careers in the 1960s, faced blatant discrimination and barriers to advancement, they created formal and informal associations to bolster one another's careers. In this important historical ethnography, Melissa S. Fisher draws on fieldwork, archival research, and extensive interviews with a very successful cohort of first-generation Wall Street women. She describes their professional and political associations, most notably the Financial Women's Association of New York City and the Women's Campaign Fund, a bipartisan group formed to promote the election of pro-choice women. Fisher charts the evolution of the women's careers, the growth of their political and economic clout, changes in their perspectives and the cultural climate on Wall Street, and their experiences of the 2008 financial collapse. While most of the pioneering subjects of Wall Street Women did not participate in the women's movement as it was happening in the 1960s and 1970s, Fisher argues that they did produce a "market feminism" which aligned liberal feminist ideals about meritocracy and gender equity with the logic of the market.

Taming the Octopus: The Long Battle for the Soul of the Corporation

Taming the Octopus: The Long Battle for the Soul of the Corporation
Author: Kyle Edward Williams
Publisher: W. W. Norton & Company
Total Pages: 190
Release: 2024-02-20
Genre: Business & Economics
ISBN: 0393867242

The untold story of how efforts to hold big business accountable changed American capitalism. Recent controversies around environmental, social, and governance (ESG) investing and “woke capital” evoke an old idea: the Progressive Era vision of a socially responsible corporation. By midcentury, the notion that big business should benefit society was a consensus view. But as Kyle Edward Williams’s brilliant history, Taming the Octopus, shows, the tools forged by New Deal liberals to hold business leaders accountable, such as the Securities and Exchange Commission, narrowly focused on the financial interests of shareholders. This inadvertently laid the groundwork for a set of fringe views to become dominant: that market forces should rule every facet of society. Along the way, American capitalism itself was reshaped, stripping businesses to their profit-making core. In this vivid and surprising history, we meet activists, investors, executives, and workers who fought over a simple question: Is the role of the corporation to deliver profits to shareholders, or something more? On one side were “business statesmen” who believed corporate largess could solve social problems. On the other were libertarian intellectuals such as Milton Friedman and his oft-forgotten contemporary, Henry Manne, whose theories justified the ruthless tactics of a growing class of corporate raiders. But Williams reveals that before the “activist investor” emerged as a capitalist archetype, Civil Rights groups used a similar playbook for different ends, buying shares to change a company from within. As a rising tide of activists pushed corporations to account for societal harms from napalm to environmental pollution to inequitable hiring, a new idea emerged: that managers could maximize value for society while still turning a maximal profit. This elusive ideal, “stakeholder capitalism,” still dominates our headlines today. Williams’s necessary history equips us to reconsider democracy’s tangled relationship with capitalism.

Black and White on Wall Street

Black and White on Wall Street
Author: Joseph Jett
Publisher:
Total Pages: 408
Release: 1999
Genre: Biography & Autobiography
ISBN:

The firsthand account of a black man's experiences on Wall Street by the person who was wrongly thrust into the center of its biggest scandal in years.

Encyclopedia of American Business History

Encyclopedia of American Business History
Author: Charles R. Geisst
Publisher: Infobase Publishing
Total Pages: 581
Release: 2014-05-14
Genre: Business & Economics
ISBN: 1438109873

Presents an alphabetically-arranged reference to the history of business and industry in the United States. Includes selected primary source documents.

Deals of the Century

Deals of the Century
Author: Charles R. Geisst
Publisher: John Wiley & Sons
Total Pages: 354
Release: 2004-03-31
Genre: Business & Economics
ISBN: 0471480851

DEALS OF THE CENTURY Throughout history, mergers and acquisitions have been the major game played on Wall Street. These deals have had far-reaching effects, on the worlds of finance and industry - more than most commentators or financiers are publicly willing to admit. Deals of the Century captures this dynamic moment in history by taking an in-depth look at the most notable merger and acquisition deals of the twentieth of Carnegie Steel in 1901 to the creation of the former AOL Time Warner, renowned business historian and bestselling author Charles Geisst traces the deals that have had the most dramatic impact on the worlds of both finance and industry over the past century. Decade by decade, you'll be introduced to the personalities behind each event, as industries are built, dismantled, and reorganized by "professionals" driven mainly by the profits extracted from the deals themselves. Engaging and informative, Deals of the Century paints an exciting portrait of the incredible M&A journey and illustrates how many of these deals changed the face of business, creating a modern capitalist society that continues to grow.