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Good for the Money: My Fight to Pay Back America
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Format: Hardcover, 288pp.
Publisher: St. Martin's Press
Publication Date: April 12, 2016
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Item No: 9781250072184
Description and Reviews
From The Publisher:
In 2009, at the peak of the financial crisis, AIG - the American insurance behemoth - was sinking fast. It was the peg upon which the nation hung its ire and resentment during the financial crisis: the pinnacle of Wall Street arrogance and greed. When Bob Benmosche climbed aboard as CEO, it was widely assumed that he would go down with his ship. In mere months, he turned things around, pulling AIG from the brink of financial collapse and restoring its profitability. Before three years were up, AIG had fully repaid its staggering debt to the U.S. government - with interest.
Good for the Money is an unyielding leader's memoir of a career spent fixing companies through thoughtful, unconventional strategy. With his brash, no-holds-barred approach to the job, Benmosche restored AIG's employee morale and good name. His is a story of perseverance, told with refreshing irreverence in unpretentious terms.
Called "an American hero" by Andrew Ross Sorkin, author of Too Big to Fail, Benmosche was a self-made man who never forgot what life is like for the nation's 99-percent; again and again, he pushed back against obstinate colleagues to salvage American jobs and industry. Good for the Money affords you a front-row seat for Benmosche's heated battles with major players from Geithner to Obama to Cuomo, and offers incomparable lessons in leadership from the legendary CEO who changed the way Wall Street does business.
"In a country where business executives are afraid and and timid, and often undeserving of everything from their high pay to their credentials as "leaders" along came Bob Benmosche, a genuine person who simply believed in doing what was right for his employees, his shareholders and, most importantly, his country. I want this book read by all who want to know the truth of the Great Recession, because the legacy of that terrible era is a disgrace for all those who worked in the greedy world of finance, the proximate cause of so much pain for everyday Americans. Not true. This man was the lone hero of the era and Good for the Money, in Bob's own straight-shooting words, is proof positive of what happens when one man decides to make a difference. He was the Hercules of his time and his posterity is sealed by his masterful autobiography."
—Jim Cramer, Host of CNBC's Mad Money
“Bob Benmosche’s memoir is a highly informative and worthy read. Good for the Money: My Fight to Pay Back America is by turns candid, compelling and sometimes unconventional–-like the man himself. Bob’s indefatigable spirit, personal memories and fascinating career are all revealed here with unusual honesty and riveting action. Anyone can learn from the straightforward lessons he shares from his considerable experience running complex enterprises in challenging times.”
—Jamie Dimon, Chairman & CEO of JPMorgan Chase & Co.
"Bob Benmosche was the most effective negotiator I ever met and a man of great integrity. Good for the Money--both memoir and negotiation handbook--offers essential insight into the business philosophy of this legendary figure."
—Kenneth R. Feinberg, Treasury Department “Pay Czar” for TARP Executive Compensation
"Bob Benmosche was a titan in America--as a business leader, citizen, and patriot. This book is a must read for all who love America."
—Kenneth G. Langone, Co-Founder of the Home Depot
"In this no-holds-barred, captivating memoir, legendary CEO Benmosche recounts leading the remarkable turnaround of “too big to fail” insurance giant AIG and shares leadership lessons from a stellar career...his often irreverent look at the AIG turnaround is the most entertaining section, complete with skirmishes with the media, struggles to transform the corporate culture, and pitched battles with government appointees and Congress. This is a definite must-read for anyone who wants to learn about the financial crisis, turnarounds in business, or leadership."
—Publishers Weekly (Starred Review)
“Remarkably candid and compelling … Benmosche stuck to his beliefs and here shows readers what it means to be an authentic leader. ‘I am not a liquidator. I don’t liquidate things. I build them.’ Too bad there aren’t many of his ilk today. Pair this with the movie The Big Short to understand why Benmosche was a one-of-a-kind executive.”
—Booklist (Starred Review)
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About the Author
Bob Benmosche was President and CEO of AIG from 2009 to 2014 and pioneered policies that saved the company from bankruptcy, enabling it to repay its debts to the government within three years. He was instrumental in taking MetLife - where he worked for 11 years, as COO and CEO - public. Once a top executive at Paine Webber and at Chase Manhattan, Bob Benmosche was also a U.S. army veteran. Good for the Money is his first book.
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