Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley [Bargain Price] [Paperback]

Patricia Beard (Author)

Book Description

Publication Date: October 21, 2008

In March 2005 the business world woke up to an unprecedented full-page ad in the Wall Street Journal calling for the removal of Morgan Stanley's CEO. Less than four months later, a group of eight retired, multimillionaire executives had orchestrated a stunning revolt within the most prestigious and—until recently—most successful financial-services firm on Wall Street. Now acclaimed journalist and historian Patricia Beard brings together the entire behind-the-scenes story, exposing the tale that shook high finance. This riveting real-life thriller is a must-read book for anyone who wants to understand the past, present, and future of American business.

Editorial Reviews

About the Author

Patricia Beard is the author of After the Ball and hundreds of national magazine articles. She has been an editor at Elle, Town & Country, and Mirabella. Beard lives in upstate New York.

Product Details

• Paperback: 464 pages
• Publisher: Harper Perennial; Reprint edition (October 21, 2008)
• Language: English
• ISBN-10: 0060881925
• ASIN: B002V1GZW8
• Product Dimensions: 7.9 x 5.3 x 1.2 inches
• Shipping Weight: 13.6 ounces (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (14 customer reviews)
• Amazon Best Sellers Rank: #769,805 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

23 of 26 people found the following review helpful:

5.0 out of 5 stars When class really counts, September 22, 2007

By 

G. Ware Cornell Jr. "anotherlawyer" (Weston FL) - See all my reviews
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This review is from: Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley (Hardcover)

Morgan Stanley like many old-line firms lost its soul at the hands of a CEO who never understood the value of the real enterprise. Phil Purcell tried to take what worked at Dean Witter and impose it on Morgan Stanley a much different institution. In doing so he acquired all of the perks of modern chairmen-the pay, the G-Vs, the compliant board while his firm's performance was tanking.

Eight "advisory directors," retired and respected former partners, set out to rescue Morgan Stanley and restore its name and culture. Called the "Group of Eight" and sometimes the "Eight Grumpy Old Men" they take a stand for old-fashioned business values.

Blue Blood and Mutiny reads like a novel. And it delivers an important message to business-ethical behavior, hard work and understanding of business fundamentals are more important and more beneficial than the gimmick-riden pursuit of a higher bottom line. This real life story will be the textbook case study in value driven management.

3 of 3 people found the following review helpful:

4.0 out of 5 stars Interesting account of the removal of an ineffective CEO, December 25, 2008

By 

Anya Sherwood "Mrs. Anya Sherwood" (MO) - See all my reviews
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This review is from: Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley (Paperback)

This book was interesting. It was very good at describing the differences between Morgan Stanley and Dean Witter Discover. These two companies merged and with the merger, like many before it, the combination did not make a successful chemistry. They had two heir apparent leaders to choose to become CEO. This books talks about wrong choice of CEO Phil Purcell for this new merged company. I enjoyed this book as it described the family-like atmosphere on the Morgan Stanley side and how when "outside" leadership determined to lead, and Phil Purcell stacked the board with his connections and "yes" people and the whole atmosphere changed for the worse. The book covers the long time retired Morgan Stanley leaders (G8) toppling this board and CEO, to put back the better choice of John Mack for Morgan Stanley. It was a very exciting book to read all the way to the end.

2 of 2 people found the following review helpful:

4.0 out of 5 stars Very well-written story, May 29, 2009

By 

A. Buhr - See all my reviews
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This review is from: Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley (Paperback)

The book tells the tale of the history of Morgan Stanley and the eventual coup in an easy to follow read. The language is easy to comprehend and the story flows in a clear path. There are only two issues I have with this book. You can't help but feel that there is an enormous bias towards one side, which is what a good writer should do I guess. You should also avoid reading the pictures area as it gives away a lot of information. The last few chapters drag after Purcell is ousted (not really a spoiler since you would have to know that already). All in all, if you're interested in the history of one of the great old-time firms, this book gives a very interesting and detailed account of the beginnings of the firm as well.