Enron, Tyco, Sunbeam Global Crossings, Waste Management are but the tip of the iceberg, the symptoms at the surface that reveal what companies of the future have to do to keep the economy from going into a tailspin and crashing.
Luckily there are ways for individual investors to spot companies that are using smoke and mirrors and are in danger of becoming the next Enron. Larry Elliott and Richard Schroth explain what to look for - and what to look out for. They warn of:
The Mechanics of Mendacity
The Art of Artful Dodgers
Words Without Foundation
The Fog of Corporate Complexity
Dysfunctional Governance
Using Enron as the touchstone and bringing in examples of other companies such as Micro Strategy, 3Com and Abbott Laboratories, the authors show what needs to be done to save capitalism from the capitalists, and improve what has become history's greatest system of wealth creation so that it benefits not just a few greedy insiders, but all of us.
Enron, Tyco, Sunbeam Global Crossings, Waste Management are but the tip of the iceberg, the symptoms at the surface that reveal what companies of the future have to do to keep the economy from going into a tailspin and crashing.
Luckily there are ways for individual investors to spot companies that are using smoke and mirrors and are in danger of becoming the next Enron. Larry Elliott and Richard Schroth explain what to look for - and what to look out for. They warn of:
The Mechanics of Mendacity
The Art of Artful Dodgers
Words Without Foundation
The Fog of Corporate Complexity
Dysfunctional Governance
Using Enron as the touchstone and bringing in examples of other companies such as Micro Strategy, 3Com and Abbott Laboratories, the authors show what needs to be done to save capitalism from the capitalists, and improve what has become history's greatest system of wealth creation so that it benefits not just a few greedy insiders, but all of us.
Richard Schroth is founder, CEO and President of Executive Insights Ltd., and Executive Viewpoints Inc., private advisory and speaking services. He had been a personal advisor to CEOs of companies such as Pfeizer, KPMG, Bank One, Monsanto, Marriott, A&T and GE Capital. Larry Elliott is a senior partner with Heiderick and Struggles, a leading executive search firm.
"The markets, due to the lies of corporate leaders and those who surround them, are the casinos and dog tracks of the new century. The odds in Las Vegas and the odds of making money by investing in companies have one major difference. In Las Vegas, once can compute the odds and probabilities of winning or losing. These days, the way publicly traded companies are behaving, you cannot. The dealers in Las Vegas usually do not insert or remove a couple of aces during the game, but on Wall Street and among many of the publicly traded companies, they do. At least in Las Vegas you get a good meal and free drink." From the introduction of How Companies Lie
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