by Alan C. Greenberg
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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
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.
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Average Customer Review:
0 of 0 people found the following review helpful:
 Unique and Interesting Book, 2007-12-12
"Memos from the Chairman" is a unique and interesting publication. Unique in the sense that the vast majority of this book is in fact a compilation of Memorandas from Alan Greenberg, of Bear Stearns fame. Interesting from the perspective that a book can tell a story using, more or less, just a series of Memorandas.
Entertaining, amusing, insightful and educational, this is a book well worth reading. Add to that a Foreword penned by Warren Buffett, and the case for taking the time to read this book is just made stronger.
1 of 1 people found the following review helpful:
 Critical Insights & Common Sense, 2007-06-26
To begin with, an author, particularly of a business-related book could not receive a better endorsement than from Warren Buffett. For the informed reader, that could suffice for a review.
For those unfamiliar with Buffett, this book is a must read. Ace Greenberg is witty, humorous and on the money with each subject. Peter Drucker suggested that the most effective form of communication is the 1-page memo and Ace Greenberg shows uncanny mastery of that form of communication. Whether you work in a small or large organization, but particularly a large one, this book is must reading.
Enjoy.
2 of 2 people found the following review helpful:
Haimchinkel Malintz Anaynikal speaks!, 2007-04-07
Alan "Ace" Greenberg's pithy sayings apparently created a spirit of comradery which brought Bear Stearns through the tumultuous 1970s and 80s, to be the powerhouse it is today. In addition to his many talents with arbitrage, yoyo, and playing bridge, the Chairman is a funny guy. It's heartwarming to know he still has his finger in the game, and that his successor is cut of the same cloth. Save your paperclips and fix those rubber bands, people!
BTW, if you've ever been to Bear Stearns HQ on Madison avenue; the place still sizzles with elan and zeal. He's certainly built a corporate culture which has lasted. No slouchy people in jeans at the Bear; people there never got sloppy like the rest of america did. Of course, I'm an outsider looking in, but what I saw looks pretty impressive. Who would you trust with your money? The slob slouching around throwing paper clips in the trash, or the guys who are neat as pins who waste nothing? Check out their returns for the answer to that.
Edit Add: OK, maybe ties were not all that was needed. It's still a great book, even if the coda to the Bear story is a sad one.
0 of 0 people found the following review helpful:
Another former employee review, 2006-09-09
I see that a few of us formers have reviewed this book or the soft cover version. It was just last week that I was told of the book, and as one of the many who received some of the memos I found myself reminded of the important things in business ;) A real person should answer the phone - and before the 2nd ring! Don't waste electricity, paperclips or rubber bands. Don't go nuts purchasing things you don't really need in up times. Two head can purchase equipment at better prices than 1 head. The importance of catching mistakes, owning up to them, and not hiding things in the drawers. You don't have to do something just because others are doing it. You'll find great employees in downtimes. And... how determination is so much more important then some letters after your name (unless you're a DR of course). Great reminders... for all. Thanks for the memories and lessons.
1 of 1 people found the following review helpful:
Ahhhh...Corporate America!, 2006-02-11
As I was sifting through dust-ridden literature in my library, I came across this legendary book. I too am a former employee of Bear Stearns and remember meeting Mr. Greenberg during my frequent visits to the trading floor.
I enjoyed 'Memos from the Chairman' because it's from the real Alan Greenberg, the legend....
Five stars!!!
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