Amazing Tales of Scandals That Shocked the World and Shaped Modern BusinessBook - 2009
Greed, cupidity, corruption, and a kind of gluttony so outrageous that it's laughable have always been part of business. Consider, for example, the case of the Swedish match king. At one time, Ivar Kreuger, manufactured almost half of the world's matches, with monopolies in 16 countries. He had so much money that he was a reliable lender to many countries, becoming known as the "saviour of Europe" for his willingness to give aid to banks crippled by World War I. At the time of the 1929 market crash, his was the most widely held stock in the world. But when he killed himself three years later, the whole thing went up in flames. The company's debts exceeded those of the entire Swedish government, as it was based on a gigantic pyramid scheme. Other examples in this book will include the story of Enron, of which Fortune Magazine was the first to break the news, Orange County bankcruptcy, Sotheby's and AI Taubman, and many more.