Customer Reviews

Everybody Wins! A Life in Free Enterprise

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We need more business leaders and managers who embrace and practice Mr. Cain's brand of business and general living. very pragmatic, down-to-earth, no-frills, seeing things for what they are -- Very ZEN.

Mr. Cain is a hero, not so much for the wealth he created for himself and many others, but the way he lived his life when he did not have alot of money.

Involved in a number of his transactions from the banker's role, Mr. Cain has set an example for all of us who call ourselves capitalists. Unfortunately, the corporate scandals of the day get the headlines whereas the true successes that create value for everyone, including the employees get little or no attention.

Integrity, Accountibility and Maximizing Long-Term share-holder Value -- not going for the quick buck at the expense of others is what is all about -- it allows us to discover, explore, educate, entertain and enjoy the life before us -- society progresses as a result. Everyone Wins.

High recommend this read to everyone -- whether or not you have an interest in business becasue it is the true story of one man's journey who just happened to become a successful businessman through a series of "happy accidents.

The late Gordon Cain was a legend in the chemical industry, first as a successful engineer and manager for various multi-national petrochemical and fertilizer firms and then as a very successful LBO architect and entrepreneur. Mr. Cain bought unwanted plants and divisions from chemical giants such as Dupont, Conoco, and Monsanto, and made them stand alone success stories. His strategy was simple, buy at the bottom of the cycle, find unwanted but well run plants, eliminate corporate overhead, and make sure that everyone shares in the gains.

Mr. Cain wrote this book to let everyone, especially his grandchildren, know that one does not need to be a ruthless raider like the boys at Apollo or Drexel to succeed in business and there is nothing inherently wrong with debt or leverage. Some deals even require subordinated debt, unfortunately called junk bonds. Mr. Cain's deals were all successful, mostly because of his keen sense of the cycles of the industry, and all participants went home happy. His biggest problem was managing the success, dealing with issues like whether an LBO should be re-leveraged or go to IPO in order to get liquidity for the participants.

An interesting lesson for Mr. Cain was that it is easier to do a large deal than a small one, since in the large deal, one can negotiate directly with a motivated and empowered seller. A key point for us is that Mr. Cain never became an owner until he was in his 70's. An early attempt at entrepreneurship in his 30's failed miserably, mostly because he went into it for the wrong reasons. Cain in his 80's continued to look for new business opportunities, stretching into airlines and biotechnology.

As a chemical industry veteran myself, I know some of these plants and people, but wanted to hear Cain's story from the man himself. While some of these companies have not done well in the last 10 years, there are plenty of people who paid their mortgages and sent kids to college with Cain's help. Mr. Cain is no longer with us, but has made an impact on our business and has done much good with his charitable work, especially at his alma mater LSU.

Gordon Cain tells his impressive story in a modest and matter of fact way. This book paints the broad strokes of his life. He shows some detailed financial data for his transactions but doesn't delve too much into the story. I think the book is most useful when combined with some additional research, you need to spend the time looking up information about the individuals and companies he references.

I had the pleasure and blessing financially to work for two all two short years for Gordon Cain, back in the 1980s. The man was both a gentleman and a genius. The title of the book sums up how he lived his fascinating life. As Gordon gracefully recounts his story, he leaves the business reader with wisdom of great value. His precepts are simple: Manage rationally with a human hand, make everyone an owner and a potential winner, engineer your product and processes to meet customer needs that are more important than your own, leave office politics behind. This stuff really worked, as deal after deal recounted in this book showed. It is a great mystery to this reviewer why american business rarely follows these precepts; since they always work. Post note to the book: Gordon shared the financial benefits with thousands of people and gave all his money away to build rural hospitals before he died.

Further the book is well written in Gordon's plain style of speaking. It shows how one man took the cards he was dealt with in life and played them not only well, but with dignity over the course of a long and interesting life.

Gordon Cain led a fascinating and exemplary life. This book is well written and comprehensive. Well worth reading.

Indeed, this work is a thoroughly enjoyable and fascinating autobiography of a remarkable visionary.

A true story an ethical businessman who is in fact a gentleman