Power Failure

Power Failure by William D. Cohan is a compelling narrative that explores the phenomenal rise and sudden downfall of General Electric, one of America's most significant corporations. This meticulously researched account takes readers through 130 years of GE's history, offering an intricate understanding of the company's storied past and the pivotal moments that shaped its trajectory.

Spanning a century and a half, Cohan's masterpiece narrates how General Electric, once a beacon of American ingenuity and industrial prowess, became synonymous with innovation and corporate excellence. The book delves into the leadership transitions, strategic decisions, and internal dynamics that governed GE from its inception to its zenith and, ultimately, its unexpected collapse.

Through rare interviews with key figures from GE's golden era, including the legendary Jack Welch, Cohan provides an intimate view of the corporate culture that led to both astonishing successes and hidden vulnerabilities. Welch’s tenure, marked by the transformation of GE into the most valuable company in the world, is scrutinised for the unsustainable legacy it left behind. Cohan argues that what Was perceived as an unmatched standard of success was, in part, a façade masking deeper institutional issues.

Welch's successor, Jeffrey Immelt, inherited this complex legacy, facing immense pressure to sustain the company's towering reputation while addressing underlying challenges. Cohan traces the stumbles and strategic missteps that marked Immelt's era, offering insights into the difficulty of maintaining long-term corporate dominance.

Power Failure is not merely a historical recounting; it is a nuanced analysis of the personalities and decisions that defined GE. Cohan punctuates the narrative with critical reflections on the nature of leadership, the sustainability of corporate success, and the broader implications for the financial world. By revisiting the myth of GE, Cohan invites readers to rethink what they know about the limits of corporate prowess and the precariousness of industrial fortune.

This book is both a paragon of detailed historical analysis and a cautionary tale for modern corporations, elucidating the lessons to be learnt from GE’s extraordinary journey. Power Failure offers a fresh perspective on the complexities of corporate achievement and decline, making it an essential read for anyone interested in business, history, and the intricate dynamics of the financial sector.