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The Turnaround Kid: What I Learned Rescuing America's Most Troubled Companies | [Steve Miller]

The Turnaround Kid: What I Learned Rescuing America's Most Troubled Companies

For 30 years - beginning with the legendary Chrysler bailout, which he negotiated as a key member of Lee Iacocca's team, to the revival of the U.S. steel industry - Miller has done the messy, unpleasant work of salvaging America's lost companies.
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Publisher's Summary

"Steve Miller has a knack for taking over companies just before they are about to smash into a wall," the Wall Street Journal observed. "In fact, it is his specialty." For 30 years - beginning with the legendary Chrysler bailout, which he negotiated as a key member of Lee Iacocca's team, to the revival of the U.S. steel industry - Miller has done the messy, unpleasant work of salvaging America's lost companies.

Though he has brought many companies back to life, Miller is deeply aware of the high price individual workers and many communities must pay to restore the health of American industry. That's why the Wall Street Journal said, "He has become Mr. Fix-It for American industry, stepping in to help large, once-dominant businesses confront and manage ugly realities."

The ugly reality is that there is a battle going on in the heart of industrial America, or what is left of it. Centered in the auto industry, but radiating out to every manufacturing corporation, management and labor are at loggerheads over wages and the cost of employee benefits. At the bankrupt Delphi Corporation, Miller is cutting costs and closing plants, but he's doing the job for $1. If anyone knows what it will take for American manufacturing to return to profitability, it's Miller.

In this frank memoir, Miller reveals a rarely seen side of American management. Known for his wry sense of humor, Miller talks about what it takes to be an executive. He shares the credit for his success with his "mentor and occasional tormentor" Margaret Kyger Miller, who was his wife and ally for 40 years. Her death opens the book and reminds the listeners that this will be a blunt and unsparing look at Miller's own education as an American executive.

©2008 Robert Stevens Miller; (P)2008 Tantor

What the Critics Say

"A gripping, understated story and an important business book." (Publishers Weekly)

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    Chris Reich Northern, CA 02-23-09
    Chris Reich Northern, CA 02-23-09 Member Since 2009

    Business Physicist and Astronomer

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    "Turn Around? Forget it."

    I hate to be unkind, but this book is padded with sympathy building with his wife's health. Put that aside...

    Turn around? Ok, if screwing the retirees in a "pre-packaged" chapter 11 is a turn around, you'll love this tripe. I didn't find a single original thought in this book. The perception that cut cut cut turns anything around is what is wrong with the base of our economy. This guy is very old-guard and you'll gain nothing from listening to this phony.

    I particularly resent that he hides behind his wife's death and a dabble of charity work to blur his turn around technique.

    You'll hear a few interesting anecdotes but you won't learn business technique.

    Next time you hear about a company whining to get out from under health care and pension benefits, remember that those funds should be protected and not considered part of a company's cash reserves.

    BTW---this guy makes the point that he started out wealthy so he never had to worry about actual results---he could walk away or be canned anytime without suffering lifestyle. Big deal. Wouldn't it be easier to "turn things around" if you didn't have to worry about your own economic status?

    Lastly, his final "turn around" was at Delphi. Take a look at how they're doing and you'll see what kind of turn around he brought them.

    9 of 12 people found this review helpful
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