People magazine for the mutual-fund set.
A banker catalogues America’s wealthiest men and women.
Former Goldman Sachs partner Smith believes that the years 1980–2000 will mark the greatest period of wealth creation in American history. His analysis of the men and women who have generated that prosperity begins with the annual Forbes magazine list of the country’s 400 wealthiest people, all of whom are now worth over $600 million. Smith points out that remarkably few of the families on the list are “old money,” and he breaks down the nation’s super-rich into five general categories: entrepreneurs, dealmakers, investors, tycoons, and entertainers. He outlines how the members of each of these groups made their money, alternating short biographical sketches with easy-to-swallow explanations of such topics as the junk-bond market, the structure of the NFL, and Warren Buffett’s value-oriented style of investing. All in all, it reads like a research report written by a Wall Street investment bank for its retail customers, with individuals substituted for companies. Some financiers and executives are lionized in the glowing terms usually reserved for Intel and Cisco, while others are downgraded over concerns about recent market performance. (This point is driven home, somewhat ingeniously, by the cover design, which shows famous names coursing across the page like symbols on a stock ticker.) As is often the case with stock analysts’ reports, there are no shocking insights here, but the prose is compulsively readable and the analysis, though intentionally superficial, is rock solid. Analysis can have a short shelf-life, though, and the recent stock-market plummet has already made some of it obsolete. But Smith’s main point—that stakeholders almost always make more money than employees—transcends the market’s periodic mood swings.
People magazine for the mutual-fund set.Pub Date: Feb. 1, 2001
ISBN: 0-312-27259-6
Page Count: 368
Publisher: St. Martin's
Review Posted Online: June 24, 2010
Kirkus Reviews Issue: Dec. 15, 2000
Bernstein and Woodward, the two Washington Post journalists who broke the Big Story, tell how they did it by old fashioned seat-of-the-pants reporting — in other words, lots of intuition and a thick stack of phone numbers. They've saved a few scoops for the occasion, the biggest being the name of their early inside source, the "sacrificial lamb" H**h Sl**n. But Washingtonians who talked will be most surprised by the admission that their rumored contacts in the FBI and elsewhere never existed; many who were telephoned for "confirmation" were revealing more than they realized. The real drama, and there's plenty of it, lies in the private-eye tactics employed by Bernstein and Woodward (they refer to themselves in the third person, strictly on a last name basis). The centerpiece of their own covert operation was an unnamed high government source they call Deep Throat, with whom Woodward arranged secret meetings by positioning the potted palm on his balcony and through codes scribbled in his morning newspaper. Woodward's wee hours meetings with Deep Throat in an underground parking garage are sheer cinema: we can just see Robert Redford (it has to be Robert Redford) watching warily for muggers and stubbing out endless cigarettes while Deep Throat spills the inside dope about the plumbers. Then too, they amass enough seamy detail to fascinate even the most avid Watergate wallower — what a drunken and abusive Mitchell threatened to do to Post publisher Katherine Graham's tit, and more on the Segretti connection — including the activities of a USC campus political group known as the Ratfuckers whose former members served as a recruiting pool for the Nixon White House. As the scandal goes public and out of their hands Bernstein and Woodward seem as stunned as the rest of us at where their search for the "head ratfucker" has led. You have to agree with what their City Editor Barry Sussman realized way back in the beginning — "We've never had a story like this. Just never."
Pub Date: June 18, 1974
ISBN: 0671894412
Page Count: 372
Publisher: Simon & Schuster
Review Posted Online: Oct. 10, 2011
Kirkus Reviews Issue: June 1, 1974
Less a sequel than an addendum, the book offers a close-up view of the Oval Office in its darkest hour.
Four decades after Watergate shook America, journalist Woodward (The Price of Politics, 2012, etc.) returns to the scandal to profile Alexander Butterfield, the Richard Nixon aide who revealed the existence of the Oval Office tapes and effectively toppled the presidency.
Of all the candidates to work in the White House, Butterfield was a bizarre choice. He was an Air Force colonel and wanted to serve in Vietnam. By happenstance, his colleague H.R. Haldeman helped Butterfield land a job in the Nixon administration. For three years, Butterfield worked closely with the president, taking on high-level tasks and even supervising the installation of Nixon’s infamous recording system. The writing here is pure Woodward: a visual, dialogue-heavy, blow-by-blow account of Butterfield’s tenure. The author uses his long interviews with Butterfield to re-create detailed scenes, which reveal the petty power plays of America’s most powerful men. Yet the book is a surprisingly funny read. Butterfield is passive, sensitive, and dutiful, the very opposite of Nixon, who lets loose a constant stream of curses, insults, and nonsensical bluster. Years later, Butterfield seems conflicted about his role in such an eccentric presidency. “I’m not trying to be a Boy Scout and tell you I did it because it was the right thing to do,” Butterfield concedes. It is curious to see Woodward revisit an affair that now feels distantly historical, but the author does his best to make the story feel urgent and suspenseful. When Butterfield admitted to the Senate Select Committee that he knew about the listening devices, he felt its significance. “It seemed to Butterfield there was absolute silence and no one moved,” writes Woodward. “They were still and quiet as if they were witnessing a hinge of history slowly swinging open….It was as if a bare 10,000 volt cable was running through the room, and suddenly everyone touched it at once.”
Less a sequel than an addendum, the book offers a close-up view of the Oval Office in its darkest hour.Pub Date: Oct. 13, 2015
ISBN: 978-1-5011-1644-5
Page Count: 304
Publisher: Simon & Schuster
Review Posted Online: Oct. 20, 2015
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