Title: Bloodsport: When Ruthless Dealmakers, Shrewd...
Book Condition: New
Num Pages: 432 pages. BIC Classification: BGB; KJMB; KJZ. Category: (G) General (US: Trade). Dimension: 170 x 285 x 42. Weight in Grams: 672. . 2016. Hardcover. . . . . Books ship from the US and Ireland. Bookseller Inventory # V9781610394130
Synopsis: The epic battle of the fascinating, flawed figures behind America's deal culture and their fight over who controls and who benefits from the immense wealth of American corporations.
Bloodsport is the story of how the mania for corporate deals and mergers all began. The riveting tale of how power lawyers Joe Flom and Marty Lipton, major Wall Street players Felix Rohatyn and Bruce Wasserstein, prominent jurists, and shrewd ideologues in academic garb provided the intellectual firepower, creativity, and energy that drove the corporate elite into a less cozy, Hobbesian world.
With total dollar volume in the trillions, the zeal for the deal continues unabated to this day. Underpinning this explosion in mergers and acquisitions—including hostile takeovers—are four questions that radically disrupted corporate ownership in the 1970s, whose force remains undiminished:
Are shareholders the sole “owners? of corporations and the legitimate source of power?
Should control be exercised by autonomous CEOs or is their assumption of power illegitimate and inefficient?
Is the primary purpose of the corporation to generate jobs and create prosperity for the masses and the nation?
Or is it simply to maximize the wealth of shareholders?
This battle of ideas became the “bloodsport? of American business. It set in motion the deal-making culture that led to the financialization of the economy and it is the backstory to ongoing debates over competitiveness, job losses, inequality, stratospheric executive pay, and who “owns? America's corporations.
Bloodsport is the story of the creation of America?s deal culture and the battle for control of America?s corporations. Told through the fascinating, complex, and often-flawed characters who created a new era, it begins as the ‘60s are ending with the rise of the conglomerates, those vast assemblages of corporate assets. It rolls through the crisis-wracked ‘70s and the birth of the hostile deal, then careens into the ‘80s when the deal culture of mergers and acquisitions is truly unleashed, producing a Hobbesian corporate landscape that threatened the most formidable of corporations. The ‘90s see backlash, retrenchment and rethinking. The new century brings bubbles and deregulation, ending in disaster. And following a quiet period after the financial crash of 2008, we are witnessing the full-throated battle once again as companies and peoples? lives are moved around as casually as piece on a Monopoly game board.
Since the first hostile deal in 1975, mergers and acquisitions have unleashed powerful forces and set off a revolution in who controls and governs American corporations. The rise of the deal raiders ushered in a world where literally no company was safe. Year after year, blockbuster deals unfolded, each more spectacular or predatory than the next. Many were hostile, most were complicated, the majority were dead on arrival. Together, they tell a story about money and power and the creation of a new era in business.
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