Product Description

Introduction by Warren Buffett. Since taking over as chairman 18 years ago, Alan C. Greenberg--a cigar-smoking, shirt-sleeved trader from the old school--has transformed Bear Stearns into one of the most profitable investment banks in the financial industry. Many believe that periodic messages from the man who sits in the middle of the firm's trading floor set the tone at Bear Stearns. Now collected in Memos from the Chairman, here they are: humorous, sometimes biting, always inspiring memos that, taken together, comprise a unique--and uniquely simple--management philosophy. On bureaucracy: "Forget the chain of command! If you think somebody is going off the wall or his/her decision-making stinks, go around the person, and that includes me." On telephone manners: "Transferring a call seems to require more athletic ability than some of our associates possess. Be prepared for spot checks. . .those who flunk will get private lessons from me." On success: "Remember that the Green Bay Packers won because they executed the fundamentals better than their competition. Trick plays make headlines, but winners execute the basics." On arrogance: "Conceit and complacency are dangerous, particularly in our line of work. If I ever feel that the people at Bear Stearns start thinking their body odor is perfume and I cannot convince them otherwise--I will sell my stock." 66,000 copies in print

Product Details

• Amazon Sales Rank: #235344 in Books
• Published on: 1996-02-02
• Original language: English
• Binding: Hardcover
• 160 pages

From Amazon.com
In nearly two decades as chairman of the board, Alan "Ace" Greenberg has successfully guided Bear Stearns & Co. through the financial marketplace's dizzying highs and sickening lows. His management philosophy, often credited to "advisor and mentor" Haimchinkel Malintz Anaynikal, was articulated over the years in a series of witty and revealing memoranda. Grouped by era and prefaced briefly by the author in Memos from the Chairman, they now offer a front-seat look at a unique business style.

From Library Journal
When Greenberg became chair of the investment banking firm Bear Stearns in 1978, he began the practice of communicating to his staff via memos. While this is accepted practice in the business world, Greenberg's staff soon discovered that their boss wrote memos quite unlike the ones they were used to receiving. This collection of memos written between 1978 and 1995 covers topics ranging from conserving electricity to promptly answering telephones. All are written with gentleness and wit. It is comforting to read memos from an employer who communicates to employees with intelligence and compassion. For business collections.
Andrea C. Dragon, Coll. of St. Elizabeth, Convent Station, N.J.
Copyright 1996 Reed Business Information, Inc.

Mark Trumbull, The Christian Science Monitor
The one-page topics include simple things like answering telephones, not throwing away paper clips, not bad-mouthing competitors, and letting people know where you can be reached if you leave the office. More broadly, they commend sticking to the basics during hard times, staying humble in good times, and focusing on customers. Greenberg enlists the help of that 'dean of business philosophers,' Haimchinkel Malintz Anaynikal, . . . to make the book a fun read and avoid a preachy tone. The sage's reminders, which Greenberg passes along second-hand, include: 'Thou will do well in commerce as long as thou does not believe thine own odor is perfume.' Also enjoyable are the book's jabs at management trends and fads that, even when they have merit, often deserve a little ribbing.

Customer Reviews

Excrement
Insulting, board room drivel. I used to work at Bear Stearns and am deader inside for having done it.

Pithy sayings from a fertile imagination
If you can weather a few cultural references that not be cheered in these days of political correctness, you will be treated to a book full of "ACE" Greenberg's exhortation to keep your eye on the ball. Mr. Greenberg makes his points to the "troops" by focusing on the smallest detail. In one case this is paperclips, and so it goes on from there. Several mythical characters live in Greenberg's memos, and so keep the reader's interest. All this is window dressing for the main point, cut costs, even in good times, and you will keep the wolves at bay when things get soft.

An easy read, but worth the time.

Good Read
Good book, quick read. I finished it in about two days and thoroughly enjoyed it. Although it's a little repetetive on cutting costs, Greenberg, HAC, and Nookie make some very good points. At times they do seem quite greedy and money-centric but Greenberg says, "I hate throwing money out the door." The lesson I took away was to not waste rather than to be greedy.
P.S.: Keeping with the spirit of the book, save some money and buy it used although I have no plans of selling my copy anytime soon.