Books
Power Failure
The Rise and Fall of an American Icon
William D. Cohan | 2022
In a masterful re-appraisal of a company that once claimed to “bring good things to life,” pre-eminent financial journalist William D. Cohan argues that the incredible story of GE’s rise and fall is not only a paragon, but also a prism through which we can better understand American capitalism. Beginning with its founding, innovations, and exponential growth through acquisitions and mergers, Cohan plumbs the depths of GE’s storied management culture, its pioneering doctrine of shareholder value, and its seemingly hidden blind spots, to reveal that GE wasn’t immune from the hubris and avoidable mistakes suffered by many other corporations.
In Power Failure, Cohan punctures the myth of GE, exploring in a rich narrative how a once-great company wound up broken and in tatters—a cautionary tale for the ages.
Publisher: Penguin Random House
Book Reviews
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.
– 2022 Best Business Books Long List, Financial Times
In “Power Failure: The Rise and Fall of an American Icon,” William Cohan delivers a sometimes meandering, often-engrossing account of the unraveling of General Electric Co.—a destruction of corporate and shareholder wealth the likes of which we have never seen before and hope never to see again.
– Charles Gasparino, The Wall Street Journal
Author Book Discussions
About the Author
William D. Cohan is a founding partner of Puck, a daily digital news and opinion publication. Prior to journalism, he was a senior Wall Street M&A investment banker for 17 years at Lazard Frères & Co., Merrill Lynch and JPMorganChase.
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