Power Failure

The Rise and Fall of an American Icon

By: William D. Cohan

Narrated by: Eric Jason Martin

Length: 28 hrs and 17 mins

Publisher's summary

NEW YORK TIMES BESTSELLER

The New Yorker Best Books of 2022 • Financial Times Best Books of 2022 • The Economist Best Books of 2022

The dramatic rise—and unimaginable fall—of America's most iconic corporation by New York Times bestselling author and pre-eminent financial journalist William D. Cohan

No company embodied American ingenuity, innovation, and industrial power more spectacularly and more consistently than the General Electric Company. GE once developed and manufactured many of the inventions we take for granted today, nearly everything from the lightbulb to the jet engine. GE also built a cult of financial and leadership success envied across the globe and became the world’s most valuable and most admired company. But even at the height of its prestige and influence, cracks were forming in its formidable foundation.

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.

©2022 William D. Cohan (P)2022 Penguin Audio

Critic reviews

"An epic piece of work."—MIKE BARNICLE, MSNBC Morning Joe

"A riveting, magisterial work of business history."—FAST COMPANY

“A sweeping tale of ambition, arrogance, egos, and feuds—and how they brought down a once-great company.”—KIRKUS REVIEWS

Very vivid storytelling!

loved the book and how expansive it was. it was well written and vividly descriptive.

An electric read

A towering achievement fit for the subject itself. Illuminating and enlightening, a tragedy of modern capitalism

Been a shareholder since 93

Was along for the ride the whole time but the books brought a lot of insight to it.

Fantastic

I am impressed with this writing.
The story unfolded in such an unexpected manner, that I couldn’t stop listening. I just had to hear what happens next.

A nuanced exploration of GE

Well I am most definitely not a fan of Jack Welch, I appreciate this authors more nuanced discussion than some other biographies of Welch and GE. It was insightful and informative and there are elements that I will use from this book and coaching other executives.

A gem from start to finish

This excellently executed, wonderful account of Americas biggest business and the people that founded, grew, perfected, then crashed General Electric, is among my favorite books of any subject or genre. The writing and narration are absolutely wonderful. I have listened to this book many many times and It keeps me coming back. Well done. Really really well done.

Excellent Read

Sharply written, well balanced and wildly entertaining. Cohan’s book leaves no stone unturned in telling the tale of the rise and fall of GE.

A comprehensive and exciting account of GE’s journey through the decades

A very well written account of GE’s history, leading to it’s controversial journey through the last 2 decades.
The story is well researched though some facts quoted may be debatable. There is a distinct portrayal of Immelt as the cause of the company’s failure but more could have been said about the general apathy from the board and senior management if this in fact was true.
In summary, a great read with many lessons in good and bad leadership.

long threads are pulled together well

Long listen. But the long history and people and situations involved are brought together well and understandably. Particularly interesting if one has read other GE related stories and especially fascinating to binge 30Rock while reading GE stories.

Balanced Review

Enjoyed the recounting of an iconic American company. I felt like the author worked hard to provide a fair view of the rise and decline of GE. He provided ample opportunity for the executives to share their respective viewpoints. He corroborated or refuted the views based on publicly available research. I also enjoyed the narrator. It’s a long book. I never tired of his voice and presentation style. The author tried to get interviews with other individuals that would have been interesting to hear from. Too bad they wouldn’t participate.