EAN: 9780241408780

POWER FAILURE - WILLIAM D COHAN GEBUNDEN

A magisterial history of the astounding rise - and unimaginable fall - of America's most iconic
corporation Perhaps no company reflects American ingenuity  innovation  and industrial fortunes
as well as the iconic General Electric Company. Producing storied leaders and almost every
product imaginable  GE built a cult of success that hid cracks in its foundation. In this
masterful history  William D. Cohan  one of America's most pre-eminent financial journalists 
argues that GE's legacy is both a paragon and a cautionary tale through which to understand
twentieth-century America. Power Failure limns the eventful 130-year history of GE  bringing
fresh analysis drawn from rare interviews with key figures of the company's golden era 
including Jack Welch himself. As Cohan recounts  Welch traded on a sterling legacy to make GE
the most valuable and respected company in the world  while cloaking its vulnerabilities. What
he handed to his successor Jeffrey Immelt was  Cohan argues  both an impossible standard and a
more troubled reality. Tracing the company's leaps and stumbles through the personalities that
defined it  Power Failure offers a surprising retelling of the GE story  puncturing the myth we
think we know for a fresh look at its legacy - and what it tells us about the state of the
financial world.

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