Not exactly applicable today.įord’s introduction of the Edsel was a bust. Market fluctuations is about a three day dip in the market in 1962, of which was caused by the delay in information. I was still able to get the summary of each except one. These type of lessons are valuable to understand, but unfortunately not all were readable. John Brooks' perspective is firmly rooted in the past, when the book was written, and provides readers opportunity for a sense of omniscience since we can consider ramifications the author himself could not be aware of, at that time. The chapter on the federal income tax is particularly relevant, given the wide-spread debate about taxes and modern conversations about the 1%. I enjoyed the stories of Ford's Edsel, Piggly Wiggly, Xerox, Goodrich vs Latex.
It was refreshing not to be told what to think. His observations leave room for the reader to consider events, their connections, their parallels to today, the importance of character, and the question of morality in business. What held these stories together? Eventually, I realized that the author is not driving home a point, selling anything, or giving advice. This book makes me feel as though I'm sitting at the knee of my grandfather, listening to wise recollections.Ī writer of articles in the 1950's and 1960, many for the New Yorker, the author intelligently and thoughtfully steps through 12 events, one per chapter.Īt first I thought perhaps I was particularly dense and wasn't getting the message. I read the ebook, and I understand a print version will be forthcoming in September. I had heard, as I think everyone else has, that Business Adventures was a favorite book of Bill Gates and Warren Buffet.
John Brooks’s 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 really does repeat itself. Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. These notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened. 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.
This business classic written by longtime New Yorker contributor John Brooks is an insightful and engaging look into corporate and financial life in America.
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