In Against the Grain, Joel Stern shares for the first time, not only the story of how EVA swept the corporate world, but the story behind the story–the intellectual underpinnings of EVA, how he and his colleagues at Stern Stewart & Co. promoted the concept, won its initial acceptance by major corporations, and later turned the concept into a revolution. He has for good reason been called a one–man catalyst for change. In an engaging memoir, he has given us not only an account of his business strategy, but also provided fascinating anecdotes and vignettes of encounters with leading businessmen on four continents.
Joel M. Stern (New York, NY) has been the Managing Partner of Stern Stewart & Co. since its founding in 1982 and was coauthor of The EVA Challenge (Wiley: 0–471–40555–8). A recognized authority on financial economics, corporate performance measurement, corporate valuation, and incentive compensation, he is a leading advocate of the concept of shareholder value.
Irwin Ross (New York, NY) was retained to write The EVA Challenge with Joel Stern and John Shiely. He is a former roving editor of Reader′s Digest and over the years has written for Fortune and a variety of other magazines.
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he is above all, stimulating (Financial Times, 13 November 2003)
"Joel Stern has done at least as much for the world’s shareholders as any CEO you can name. Now more people will see how, through this inspiring story of intellectual courage."
Geoff Colvin
Senior Editor at Large, Fortune magazine
Co–Anchor, Wall Street Week with Fortune
"Against the Grain is a wonderful way to make the acquaintance of an interesting financial entrepreneur, and at the same time get a brief, authoritative exposure to the theory and practice of corporate finance."
Irving Kristol
Senior Fellow, American Enterprise Institute
"Against the Grain celebrates Joel Stern’s life and loves, his beliefs and his Thirty Years’ War against accounting fictions that abet shady managers and divert honest ones from creating wealth. It’s wise, radical, instructive, and entertaining in the telling, and Stern’s financial principles resonate more strongly than ever in this new century of scandals."
William S. Rukeyser
Editorial Director, Corporate Board Member magazine
"So how does a kid from the Bronx end up telling businessland how to run a business? Joel Stern’s story is a terrific read."
Dan Seligman
Contributing Editor, Forbes
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