The Number: How the Drive for Quarterly Earnings Corrupted Wall Street and Corporate America (Paperback)

By Alex Berenson, Mark Cuban (Foreword by)
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Description


With a new Afterword by the author and a new Foreword by Mark Cuban

In this commanding big-picture analysis of what went wrong in corporate America, Alex Berenson, a top financial investigative reporter for The New York Times, examines the common thread connecting Enron, Worldcom, Halliburton, Computer Associates, Tyco, and other recent corporate scandals: the cult of the number.

Every three months, 14,000 publicly traded companies report sales and profits to their shareholders. Nothing is more important in these quarterly announcements than earnings per share, the lodestar that investors—and these days, that’s most of us—use to judge the health of corporate America. earnings per share is the number for which all other numbers are sacrificed. It is the distilled truth of a company’s health.

Too bad it’s often a lie.

Alex Berenson’s The Number provides a comprehensiv, brutally factual overview of how Wall Street and corporate America lost their way during the great bull market that began in 1982. With wit and a broad historical perspective, Berenson puts recent corporate accounting (or accountability) disasters in their proper context. He explains how the wheels came off the wagon, giving readers the information and analysis they need to understand Enron, Tyco, WorldCom, Halliburton, and the rest of the corporate calamities of our times.

About the Author


As a reporter for The New York Times, ALEX BERENSON covered topics ranging from the occupation of Iraq to the crimes of Bernie Madoff. His six previous John Wells novels include "The Faithful Spy", winner of the 2007 Edgar Award for best first novel. He lives in New York City.

Mark Cuban is an American entrepreneur and owner of the NBA s Dallas Mavericks. A pioneer of the dot-com revolution, Cuban first arrived in Dallas in the early 1980s where he immediately became a fan of the then-brand new franchise. Cuban s purchased the team in 2000 and heralded a new age of success for a franchise now considered the sixth most valuable team in the NBA.

Praise For…


“Alex Berenson, a whip-smart New York Times business reporter, is [a] wisecracking play-by-play commentator. In The Number, he offers a compelling account of how many large-number corporations went astray in the late 1990s. . . . Berenson knows this material cold, and he has a way with a phrase.”
The Washington Post

“Berenson’s book is about far more than one financial concept or dictionary definition. It is a well-written, informative, fact-filled review of how we got into this mess. More, it’s the sort of book those of us who plan to be around the financial-services industry for a long time can take down from our bookshelves years from now, during the next bubble, and say to the younger folks, ‘Let me tell you something, this has happened before.’”
The Mercury News

“If you’re still trying to get a handle on what happened in the stock market for the last five years,[The Number] serves as a concise and readablecrash course.”
The New York Times Book Review

Product Details
ISBN: 9780812966251
ISBN-10: 0812966252
Publisher: Random House Trade
Publication Date: April 13th, 2004
Pages: 328
Language: English