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Money for Nothing

Money for Nothing

How CEOs and Boards Enrich Themselves While Bankrupting America

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The world of CEOs and boards has become an entitled insiders’ club—virtually free of accountability—and the abject failure of our corporate leaders to police themselves is costing Americans trillions and seriously undermining the strength of our economy. Whereas boards are supposed to act as watchdogs, guarding shareholders’ interests, they have become enabling lapdogs to CEOs, who are aided and abetted in their pursuit of outrageous pay and unfettered power by a bevy of supporting players, including compensation consultants who justify exorbitant pay packages and accountants and attorneys who see no evil.

Based on extensive original reporting and interviews with high-level insiders at a host of leading companies, John Gillespie and David Zweig—both Harvard MBAs with thirtyplus years of Fortune 100 experience—reveal the inner workings of this dysfunctional culture and the many methods CEOs and boards use to shut shareholders out, entrench themselves, and fight reforms with shareholders' own money. Money for Nothing is a vital exposé of how the game is played and a powerful call for change, laying out the specific reforms that are needed to fix the glaring dysfunctions that are imperiling the health of American business.
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  • Free Press | 
  • 336 pages | 
  • ISBN 9781416597704 | 
  • January 2011
List Price $20.99
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Get the straight talk on corporate boards from author John Gillespie

Demand real change in a badly broken system, and see how the game is played in author John Gillespie's MONEY FOR NOTHING.

Read an Excerpt

1
Out of Control


THIS IS WHAT HAPPENS when a corporate giant collapses and dies.

All eyes are on the CEO, who has gone without sleep for several days while desperately scrambling to pull a rabbit out of an empty hat. Staffers, lawyers, advisors, accountants, and consultants scurry around the company headquarters with news and rumors: the stock price fell 20 percent in the last hour, another of the private equity firms considering a bid has pulled out, stock traders are passing on obscene jokes about the company’s impending death, the sovereign wealth fund that agreed to put in $1 billion last fall is screaming at... see more

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