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Business Management Book Store > Business Management books beginning with T
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The Turnaround Kid: What I Learned Rescuing America's Most Troubled Companies |
Author: Steve Miller
Published: 2008-04-01 |
List price: $25.95
Our price: $17.13
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As of: November 21st, 2008 04:06:49 PM
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Customer comments on this selection.
 An unconventional career (and marriage.)
I generally liked this book and recommend it for those interested in the business world. Steve Miller has had something of an unconventional career. Mid-level auto executive, tucked away in a foreign sub away from the power center of his company, that rises to a challenge that his previous experience would not have seemingly prepared him for. From there, he builds a career as a leading turnaround manager and a guy that is generally thought of as a realist when dealing in very difficult situations. That part of the story reinforces the view that successful careers are a marathon and that sometimes the path that you didn't expect is the one that bears the most fruit. (How's that for buzzword laden sentence!)
In terms of those who are looking at this as a road map on how to execute a turnaround and value a business following a Chapter 11, do not pass go. It isn't that kind of book. If you're a novice looking to understand the Chapter 11 process, this is not the right book for you. (Try Distressed Debt Analysis by Stephen Moyer.) But, for those who are trying to run a business that needs a kickstart, there are some valuable comments on how to deal effectively with your employees, creditors, and customers. I think Mr. Miller comes across as honest and candid when he is involved in those situations.
What makes this book unique is the personal part of the story. By his own account, Mr. Miller's greatest asset and greatest source of concern. perhaps, was his spouse. I found his honesty on that subject to be refreshing and the sign of a man who is comfortable in his own skin.
The one knock I have are some inconsistencies in aspects of his career that did not go well. His efforts to explain why the Board at Waste Management failed in their duty to provide effective oversight of the company's management came across as a CYA answer to hold off plaintiff's attorney in a lawsuit.
Mr. Miller also completely bypasses what occurred at Chrysler's finance subsidiary within just a few months of leaving the company in 1992. He is candid about his attempt to unseat Lee Iacocca, but he makes no mention of the fact that the finance sub had a gun to their head with an expiring, and fully funded, bank deal in the summer of 1992. His lack of oversight with the folks at the American Center should have been noted, if for no other reason than as a cautionary tale.
Morality and Business Turnaround
The story line concentrates a lot on the personal side and, as described in the sub-title, the learning derived from human behaviour in crises. Mr. Miller does go into a lot of detail on the completed turnarounds, but as you might expect given that it is unfinished business the Delphi story is a bit open ended. There is a good but short postscript on the political impact of American corporate social security arrangements on national competitiveness in international markets. The book covers the moral issues of corporate cash crises and Mr. Miller's values from his childhood as they evolved with his turnaround experiences. Overall an easy and enjoyable read with the story line flowing fast and the book well written.
 The Turnaround Kid
Very interesting read--both the business as well as personal. I felt as though the author was speaking to me on a one to one.
An inspiring, enlightening account.
THE TURNAROUND KID: WHAT I LEARNED RESCUING AMERICA'S MOST TROUBLED COMPANIES recounts the high points of the author's career rescuing American business disasters - and in the process offers college-level business libraries the opportunity to understand the evolution of a business genius. Blending business management concepts with a memoir, THE TURNAROUND KID shows how the author turned around his own life as well as businesses, reshaping and restructuring the very foundations of big business procedures in the process. An inspiring, enlightening account.
Diane C. Donovan
California Bookwatch
 Boring!
I expected more. An exciting book that would provide insight on financial workouts. Well I didn't get, I wanted to close the book several times, but I hate leaving a book half read. If you are looking for a interesteing read, this isn't it.
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