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9 of 9 people found the following review helpful:
4.0 out of 5 stars
Excellent review of corporate raiding strategies., July 28, 1998
By A Customer
This review is from: Storming the Magic Kingdom (Paperback)
This is an excellent book. It almost reads like fiction. The behind the scenes dealings that involved the attempted hostile take over of the Walt Disney Company reveal the inner workings of the corporate raiding frenzy in a way that even the novice can understand.
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7 of 7 people found the following review helpful:
4.0 out of 5 stars
Exciting tale of the transfer of power at Disney in the 80's, February 28, 2001
This review is from: Storming the Magic Kingdom (Paperback)
Here is a book that describes the corporate aspects of the Walt Disney Company, focusing on the changes that took place in the mid 1980's when the company was on the verge of being taken over by mega rich businessmen and split into 500 small companies. Ultimately, the company was preserved as one and Michael Eisner took over as CEO. When it comes to Disney, I am not normally interested in the details of big business and high finance, but I found this book quite interesting. It's hard to believe a company that "all began with a mouse" has grown into such a massive empire of million and sometimes billion dollar deals. I wish someone would write a comprehensive book on the deals that Roy and Walt Disney had to pull off in the early years. Although, less money was involved back then, I am sure their deals were no less heroic or risky. If you like Disney, it's worth a read. If you're a student or professional of finance, there is much to be learned therein.
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2 of 2 people found the following review helpful:
5.0 out of 5 stars
A Great Read, October 21, 2007
This review is from: Storming the Magic Kingdom (Paperback)
Hard to believe it has been over 20 years since the events John Taylor documents in "Storming the Magic Kingdom" took place. The 1980's saw a surge of takeovers (and almost takeovers) by corporate raiders whose analysis of certain organizations showed undervaluation of their stock relative to their asset value if broken up. Often these activities ended in "greenmail", with the corporation buying back the raider's stock holding at a premium-then being sued by the shareholders who were not given the same opportunity.
Taylor documents how Disney was greenmailed by financier Saul Steinberg in 1984. But once this threat was neutralized they realized that the financial situation that had attracted Steinberg would soon attract other raiders. The book details Disney's efforts to insure that they would no longer be so vulnerable; including replacing their top management with a new team modeled on the division of responsibility (creative and financial) so successful for Walt and his brother Roy.
This is quite simply the most interesting business book I have ever read. Taylor provides a detailed, conference-call-by-conference-call account of the internal decision making process. The book is interesting not just because of the subject company and the drama of a family divided, but because Taylor is a great storyteller and his account reads much like a novel. Although it is likely that some of Taylor's sources provided self-serving accounts of their activities, he had the cooperation of most of the principals involved and seems to have done a good job of sifting through any conflicting accounts and extracting the most likely version.
Then again, what do I know? I'm only a child.
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