The 50 Best (and Worst) Business Deals of All Time: Michael Craig
Editorial Reviews
From Booklist
This book is where history and business informatively and entertainingly intersect. Craig, a former securities attorney, takes a broad sweep through history to find the “big business deals–the money, the strategy, the risks, the personalities.” During his research he saw patterns emerge, and from those patterns he established 10 rules “that should provide the basics of a deal maker’s handbook.” The rules include focusing on one’s strengths, taking advantage of the weaknesses of one’s adversary, innovation, and taking care of the little people. The real meat of his book is his discussions of 50 actual business deals from various times in history that illustrate the successful or unsuccessful application of these rules. These deals include the 1803 Louisiana Purchase, the “greatest real-estate deal in history”; Priscilla Presley’s 1982 assumption of control of Elvis Presley’s estate, by which Priscilla realized the value of Elvis as a brand name; and Sony’s 1989 acquisition of Columbia Pictures, which Sony has not thought out correctly. You don’t have to be a businessperson to appreciate this book. Brad Hooper
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The 50 Best (and Worst) Business Deals of All Time analyzes how and why these deals became bargains or busts (or both). From the purchase of Manhattan in 1624, to the merger of AOL and Time Warner in 2000, author Michael Craig presents examples illustrating how the outcome of mega-deals can depend on clear thinking and the adherence to simple guidelines.
Here’s just a sample of what you’ll learn:
- The U.S. government tried to buy the city of New Orleans from France and ended up with the entire 800,000-square-mile Louisiana Territory.
- Ray Kroc entered into a ruinous franchise agreement to give birth to McDonald’s and how a brilliant real-estate deal saved the business.
- Warren Buffett bet $1 billion on the strength of Coke’s brand name and made $10 billion.
- Michael Robertson paid $1,000 for the Internet domain name MP3.com and turned it into a nine-figure fortune.
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