The Turnaround Kid
eBook - ePub

The Turnaround Kid

Steve Miller

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  1. 272 pages
  2. English
  3. ePUB (mobile friendly)
  4. Available on iOS & Android
eBook - ePub

The Turnaround Kid

Steve Miller

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About This Book

For the past thirty years, Steve Miller has done the messy, unpleasant work of salvaging America's lost companies with such success that the Wall Street Journal has dubbed him "U.S. Industry's Mr. Fix It." From his very first crisis assignment as point man for Lee Iaccoca's rescue team at Chrysler, Miller built an international reputation while fixing major problems in such varied industries as steel, construction, and health care. Most recently, as chairman and CEO of the bankrupt automotive parts manufacturer Delphi Corporation, he has confronted head-on the major issues threatening the survival of Detroit's Big Three.

A battle is being fought in the heart of industrial America—or what is left of it—Miller observes. In the auto industry as well as every manufacturing corporation, management and labor are at loggerheads over wages and the skyrocketing costs of employee benefits. The way out of this battle is often painful and Miller is deeply aware of the high price individual workers and many communities have had to pay as a result.

In this frank and unsparing memoir, Miller reveals a rarely seen side of American management. Miller recounts the inside story of the many turnaround jobs that have led to his renown as Mr. Fix It. But he also paints an intimate picture of his relationship with Maggie Miller, his wife of forty years, with whom Miller shares the credit for his success. Described by Miller as "my mentor and tormentor, " Maggie served as his most trusted adviser and kept him focused on what truly matters until her death from brain cancer in 2006.

A deeply moving personal story and timely snapshot of the state of American manufacturing and what it will take to restore it to profitability, The Turnaround Kid is Steve Miller's fascinating look at his education as an American executive.

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SEARCHABLE TERMS

Note: Entries in this index, carried over verbatim from the print edition of this title, are unlikely to correspond to the pagination of any given e-book reader. However, entries in this index, and other terms, may be easily located by using the search feature of your e-book reader.
Aetna. See also Rowe, John W.
acquisition of Prudential’s health care unit, 175
background of, 174–175
CEO contenders, 179
deal to sell businesses to ING, 178
hiring John W. Rowe, 179–180
job offer from, 174–175
offices, 176
public and professional perceptions, 177
replacing Richard Huber with William
Donaldson as CEO, 175–176
satisfaction at, 180
turnaround solution, 177–178
workforce issues, 178–179
Agee, William J. See also Morrison Knudsen
background of, 121–122
hiring and firing as Morrison
Knudsen CEO, 122–123
performance style, 122–123
relationship with Mary Cunningham, 121–122
Altman, Roger (Assistant Treasury Secretary), 45, 117–118
American Motors Corporation, 64–66
Appaloosa Management, 226
Arab oil embargo (1973), 26
auto industry
architecture, 206
crisis, 225
federal regulations on efficiency, 66
layoffs in 1980, 31
nature of, 85
restructuring, 225
2007 status, 148
U.S. versus Japanese, 66
Automotive News, The Long Arm of the Bean Counter, 70
Bandon (Oregon), 1–3
banking industry in 1980, 35–36
bankruptcies
author’s views on, 147–148
Bethlehem Steel, 188–189
Canary Wharf, 111
Collins & Aikman, 208
Delphi Corporation, 208–211, 222–227
Federal-Mogul Corporation, 143
Olympia & York Developments, Ltd., 111
process, 208
Ronald Gettelfinger’s views on, 215
threats of, 36–41, 207
Bartiromo, Maria, 172–173
Bethlehem Steel
accepting job at, 184
background of, 184–185
bankruptcy, 188–189
debtor-in-possession loans, 188–189
media interest, 194
merger talks with U.S. Steel, 189,...

Table of contents