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Join us as we attempt to paint a digestible picture of Mckinsey's role in the "Too big to fail" moniker and the collapse of 08! Our main source for this series has been the brilliant book "When Mckinsey Comes to Town" by Walt Bogdanich and Michael Forsythe Have comments? Check out our Subreddit, https://www.reddit.com/r/profiteersvsthepeople/ Have a request for a future episode? Have comments? Drop us a line at profitvspeeps@gmail.com
Dit keer bespreken we het boek De Consultancy Industry (The Big Con) van Mariana Mazzucato en Rosie Collington. Ondertitel: Hoe consultants bedrijven verzwakken, overheden uithollen, economieen schaden. Mariana hebben we eerder boeken van besproken Rosie werkt met Mazzucato samen bij het IIPP en ze onderzoek de politieke economie van klimaatbeleid voor haar promotie. De Engelse titel vind ik sterker The Big Con: How the consulting industry weakens our businesses, infantilizes our governments and warps our economy. Een interessant boek over de enorme groei van de consultancy wereld economisch en invloed in de afgelopen decennia onder invloed van het neo libearilsme. Hoe ze zoveel geld kunnen verdienen en wat het werkelijke effect is van wat ze doen en de belangenverstrengelingen. Ze houden zichzelf aan het werk. Ik ben geschrokken van wat ze laten zien in dit boek met voorbeelden. Uiteraard vindt de consultancy wereld dit boek niet fijn en ondermijnen ze o.a. de kennis van de auteurs. Een vergelijkbaar boek dat recent uitkwam na een uitgebreid onderzoek van McKinsey. When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm Inhoud Inleiding: De Big Con: misbruik van vertrouwen Wat de consultancy sector? Hoe consultancy onstond: een korte geschiedenis. De omslag naar outsourcing: regeren via consultancy en de Derde Weg De Big Confidence-truc: consultologie en economische rents Risico's vermijden, beloning opstrijken: het verdienmodel Organities uithollen: als kennisvorming bij overheid en bedrijfsleven ondermijnd wordt Botsende belangen: consultancybureaus en democratie Klimaatconsultancy: een existentiele bedreiging? Conclusie - een overheid die roeit om te kunnen sturen Partnerships en uit het onderlinge de leider kiezen - een veel langere termijn visie dan beursgenoteerde bedrijven. Opvallende lessen uit het boek voor mij: 00:00 Inleiding 08:10 Hoe de consultancy organisaties naast bedrijven hun weg hebben gevonden naar de overheid mede door het neoliberale gedachten, dat de overheid zich moet gedragen als bedrijf, met klanten. 10:40 De big four (advies) en de big three (accountants). Het begon met McKinsey die een kans bij de overheid zag. De geschiedenis hoe de consultants zich over de wereld in de overheid verspreiden. 16:00 onderscheid van kleine adviseurs met specialistische kennis en de grote consultancy bedrijven in het onderzoek en boek was beter geweest. 17:15 Het problematisch is wanneer er belangenverstellingen zijn, die niet zichtbaar zijn. 23:00 Zo komen de consultancy bedrijven binnen. 26:00 Voorbeeld van verschillen tussen geprivatiseerde structuren en niet geprivatiseerd, zoals openbaar vervoer in het het Verenigd Koninkrijk (geprivatiseerd), NL (er tussen in) en Zwitserland (overheid). 26:30 Het boek heeft een sterke focus op de Amerikaanse en Engelse voorbeelden. 29:15 Kritiek, het boek kan minder veroordelend en meer oplossingsgericht. 30:50 Waar begint de verantwoordelijkheid, bij de overheid die besluit om te privatiseren of bij de commerciële bedrijven die dan daar op springen? 40:25 Klimaat en het belang van het bedrijfsleven. 42:45 De vier stappen begint met een duidelijke visie. 44:00 De overheid is een waarde scheppende kracht in de economie. 47:15 Competitieve beloning en attractieve werkomgeving. 48:45 Transparantie over de opdrachtgevers en projecten. 51:45 Conclusie, wat is de rol van overheid. Ligt de bron bij de consultancy en andere commerciële partijen of daarvoor al bij de overheid in structurele keuzes met visie. 54:15 Het is nog niet te laat. Bronnen die we genoemd hebben De waarde van alles #boekencast afl 8 - Mazzucato Mission Economy #boekencast afl 29 - Mazzucato Sander en de brug #boekencast afl 76 - Schimmelpenninck Luister naar deze aflevering Beluister hier ons gesprek over het boek De consultancy i...
Michael Forsythe, co-author with Walt Bogdanich of “When McKinsey Comes to Town”, joins the podcast to talk about McKinsey's work in support of autocratic regimes, its rampant conflicts of interest and the distance between its stated values and its work on the ground. Originally Posted on Jan. 18, 2023
When I started business school at Columbia, I hadn't heard of McKinsey. The Firm recruited heavily there, so I found out about them, but little, since they were so secretive. I learned more from my classmates, that the business world held them in high regard. People wanted to work there.I interviewed and learned I got high reviews there, but I had entered business school to improve as an entrepreneur and stayed on my path. Several friends worked there and at its peers Boston Consulting Group and Bain, as well as other consulting firms like Deloitte.I heard about Michael's book while I was reading books on colonialism, especially Heart of Darkness and King Leopold's Ghost. Leopold crafted a public persona of a benevolent philanthropist helping end the Arab slave trade in the Congo while creating a huge, cruel slave state he profited from. Given what I knew about McKinsey, I read several reviews and watched videos of the authors. They showed a company crafting a benevolent philanthropic image while profiting from others' suffering---promoting tobacco, opiates, dictatorships, and, most relevant to sustainability, oil and petroleum states.Maybe I was looking for patterns that weren't there, but they made me wonder how much McKinsey and its peers had become a modern King Leopold. The book presents some devastating finds. It's well researched, as you can imagine how anything it revealed wrongly could prompt lawsuits. Beyond McKinsey's work with the world's most polluting corporations and nations, many McKinsey people transitioned to help run some of the world's most polluting companies, including previous guest and three-time Global Managing Director Dominic Barton.In our conversation, Michael reviews some of the book and shares back stories into how he and his coauthor Walt worked. We treated many areas of McKinsey's work, but focused on sustainability-related ones.Michael's column at the New York TimesHis book When McKinsey Comes to TownIts review in the Times: Book Review: “When McKinsey Comes to Town,” by Walt Bogdanich and Michael Forsythe Hosted on Acast. See acast.com/privacy for more information.
In 2019, in the magazine Current Affairs, a former McKinsey consultant wrote, “There is no secret society shaping every major decision and determining the direction of human history. There is, however, McKinsey & Company.” My guest on the program today has spent years doing a deep-dive into the prestigious consulting company — and he's here to talk about what he's learned about its influence around the world, including here in Canada.Michael Forsythe is an investigative reporter for The New York Times, and co-author of When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm, which is out in paperback next week. You can read McKinsey & Company's response to the book here.You can find Tara Henley on Twitter at @TaraRHenley, and on Substack at tarahenley.substack.com
It's too simplistic to call it an evil company. There are certainly a lot of very good people that work there. It's just the system itself and the corporation itself and the system that it's embedded in is what causes the problems.Michael ForsytheAccess Bonus Episodes on PatreonMake a one-time Donation to Democracy Paradox.A full transcript is available at www.democracyparadox.com.Michael Forsythe is a reporter on the investigations team at The New York Times. Until February 2017 he was a correspondent in the Hong Kong office, focusing on the intersection of money and politics in China. He is the author (along with Walt Bogdanich) of When McKinsey Comes to Town: the Hidden Influence of the World's Most Powerful Consulting Firm.Key HighlightsIntroduction - 0:35Who is McKinsey & Company? - 3:14Is it Anti-Democratic? - 17:55Working with Autocrats - 34:17Can it Change? - 44:33Key LinksWhen McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm by Walt Bogdanich and Michael Forsythe"How McKinsey Lost Its Way in South Africa" in The New York Times by Walt Bogdanich and Michael ForsytheFollow Michael Forsythe on Twitter @PekingMikeDemocracy Paradox PodcastAnne Applebaum on Autocracy, IncSamuel Woolley on Bots, Artificial Intelligence, and Digital PropagandaMore Episodes from the PodcastMore InformationDemocracy GroupApes of the State created all MusicEmail the show at jkempf@democracyparadox.comFollow on Twitter @DemParadox, Facebook, Instagram @democracyparadoxpodcast100 Books on DemocracyThe Realists UncensoredHey future listeners, it's Checkers and MJ here and we are two American men that are...Listen on: Apple Podcasts SpotifySupport the show
An interview with Walt Bogdanich, co-author of the new book, When McKinsey Comes to Town. The book offers a portrait of a company whose work has often made the world more unequal, more corrupt, and more dangerous.
You've been hearing a lot about McKinsey in the headlines. This company received over $100 million in contracts from the Trudeau Liberals, and has been the subject of various controversies here in Canada and around the world. But behind the headlines, who is this company, what do they do, and why do people hire them? On today's episode of Resuming Debate, I interview Duff McDonald, author of The Firm: The Story of McKinsey and its Secret Influence on American Business. How has McKinsey continued to sign up clients in spite of their track record of scandals? What is this company really all about? On this episode we also talk about a few books. You can find Duff's book on McKinsey here: https://www.amazon.ca/Firm-McKinsey-Influence-American-Business/dp/1439190984. You might also be interested in “When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm” (https://www.amazon.ca/When-McKinsey-Comes-Town-Consulting/dp/0385546238/ref=sr_1_1?keywords=when+mckinsey+comes+to+town&qid=1677607822&s=books&sprefix=when+mckin%2Cstripbooks%2C222&sr=1-1) or Duff's other book “Tickled: A Commonsense Guide to the Present Moment” (https://www.amazon.ca/Tickled-Commonsense-Guide-Present-Moment/dp/0063036894/ref=sr_1_1?crid=VTLAF6YQIWQ4&keywords=Tickled%3A+A+Commonsense+Guide+to+the+Present+Moment&qid=1677607899&s=books&sprefix=tickled+a+commonsense+guide+to+the+present+moment%2Cstripbooks%2C281&sr=1-1). To never miss another episode, like, share, and follow Resuming Debate on Spotify, Apple Music, and other platforms. Don't forget to leave a review!
In this thought-provoking interview series from the RSA, Matthew Taylor, puts a range of leading thinkers on the spot - from writers to business leaders, politicians to journalists - by asking for big ideas to help build effective bridges to our new future. McKinsey & Co is one of the biggest names in the global consulting business. Established in 1926, it employs 30,000 people, has offices in more than 130 locations and earns billions of dollars in fees. But what exactly does the company do? And how much power does it have in shaping the way corporations and governments are run? Matthew is joined by two New York Times investigative reporters, Walt Bogdanich and Michael Forsythe, whose latest book, When McKinsey Comes to Town, shines a spotlight on the influential firm. Walt Bogdanich is an investigative reporter for The New YorkTimes. He has been awarded three Pulitzer Prizes for his investigative journalism. He previously produced stories for “60 Minutes,” ABC News and TheWall Street Journal in New York and Washington. He has a B.A. in political science from the University of Wisconsin and a master's degree in journalism from Ohio State University. He lives in Port Washington, NY.Michael Forsythe is an investigative reporter for The New York Times. At Bloomberg was part of a team that won the George Polk Award in 2013. Mr. Forsythe is a veteran of the U.S. Navy. He has a B.A. in international economics from Georgetown University and a Master's degree in East Asian Studies from Harvard University. He lives in New York City.Michael and Walt's book, 'When McKinsey Comes to Town,' is available now. A Tempo & Talker production for the RSA. In this time of global change, strong communities and initiatives that bring people together are more invaluable than ever before. The RSA Fellowship is a global network of problem solvers. We invite you to join our community today to stay connected, inspired and motivated in the months ahead. You can learn more about the Fellowship or start an application by clicking here.
What if you could pull back the curtain on the world's most powerful consulting firm? In their new book, When McKinsey Comes to Town, two investigative reporters for The New York Times take a close look at McKinsey & Company, an international consulting firm that advises governments and corporations. By gathering tens of thousands of documents and conducting hundreds of interviews, Walt Bogdanich and Michael Forsythe outline how McKinsey's public image as a prestigious company sits in stark contrast to the work it does behind closed doors.rnrnHas this work made the world more unequal, more corrupt, and more dangerous? Shielded by NDAs, the authors expose how McKinsey has escaped public scrutiny despite its role in advising tobacco and vaping companies, purveyors of opioids, repressive governments, oil companies, and more.rnrnWalt Bogdanich joined The New York Times in 2001. He is the recipient of three Pulitzer Prizes for specialized reporting, national reporting, and investigative reporting. Michael Forsythe joined the Times in 2014 after more than a decade Bloomberg News. He is a veteran of the U.S. Navy.rnrnJoin the City Club as we hear from these two authors on the consequences of increased power and unchecked influence from one of the world's largest consulting firms.
What Canadians should know about McKinsey and other consulting firms and the work they are doing for Ottawa and provincial governments. Mike Forsythe, investigative reporter, New York Times and co-author of When McKinsey Comes to Town But wait, there's more: K-Tel past and present. Samantha Kives, President of K-Tel Australia is removing British monarchy from its banknotes. Cindy McCreery, historian, senior lecturer, University of Sydney
A House of Commons committee is probing the federal government's decisions to grant multimillion-dollar contracts to the consulting firm McKinsey & Company. Matt Galloway talks to Amanda Clarke, an associate professor of public administration at Carleton University; and Michael Forsythe, an investigative reporter with the New York Times and co-author of When Mckinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm.
Global consulting firm McKinsey works all over the world, but in South Africa, it faces criminal charges for corruption. The case centers on its role in the country's biggest post-apartheid scandal, known as state capture. The firm has also consulted on everything from looking at privatizing the UK National Health Service to researching Saudi Arabian dissidents. So what exactly does McKinsey do, and why? In this episode: Walt Bogdanich, investigative reporter at the New York Times and co-author of ‘When McKinsey Comes to Town' Episode credits: This episode was produced by Negin Owliaei with our host, Halla Mohieddeen. Ruby Zaman fact-checked this episode. Our production team includes Chloe K. Li, Miranda Lin, Ashish Malhotra, Negin Owliaei, and Amy Walters. Our sound designer is Alex Roldan. Aya Elmileik and Adam Abou-Gad are our engagement producers. Alexandra Locke is The Take's executive producer, and Ney Alvarez is Al Jazeera's head of audio. Connect with us: @AJEPodcasts on Twitter, Instagram, and Facebook
Michael Forsythe, co-author with Walt Bogdanich of “When McKinsey Comes to Town”, joins the podcast to talk about McKinsey's work in support of autocratic regimes, its rampant conflicts of interest and the distance between its stated values and its work on the ground.
The notoriously tight-lipped global consulting firm McKinsey claims to be values-driven and purpose-led. But do their deeds back up their words? Or does their value of “serving the client first” mean every other value comes second? Can we really trust any company to be purpose-led when they operate in almost total secrecy? Show Notes: Buy a copy of When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm by Mike Forsythe and Walt Bogdanich. Learn more about Erik Edstrom and his work here. Connect with Rizwan Naveed and read about his current role at Google. See omnystudio.com/listener for privacy information.
Grand by Noelle McCarthy. The Bookseller at the End of the World by Ruth Shaw. When McKinsey Comes to Town by Walt Bogdanich and Michael Forsyth. Freezing Order by Bill Browder. Readme.Txt by Chelsea Manning. LISTEN ABOVESee omnystudio.com/listener for privacy information.
One of the most powerful private companies in the world is also one of the most secretive. Michael Forsythe is an investigative reporter for The New York Times and co-author of the new book “When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm.” Forsythe joined Ricky Mulvey to discuss: - Why Fortune 500 companies pay millions of dollars for the firm's advice - What “The Carnegie Way” meant for US Steel - McKinsey's relationship with the FDA and what it means for drugmakers Companies mentioned: X, BIIB, ALL, DIS, WMT, PNGAY Host: Ricky Mulvey Guest: Michael Forsythe Engineer: Dan Boyd
Walt Bogdanich and Michael Forsythe, Investigative Reporters at the New York Times, discuss their book When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Walt Bogdanich and Michael Forsythe, Investigative Reporters at the New York Times, discuss their book When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
In this episode of the Spectrum Podcast, Walt Bogdanich, a three-time Pulitzer Prize winning reporter, emphasizes the importance of investigative reporting while explaining his new book: When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm. Bogdanich and his co-author Michael Forsythe have unveiled the secrets behind one of the world's most powerful consulting firms, McKinsey and Company. They show how the firms tentacles ensnare and entangle almost all aspects of American life from our largest cities to our smallest town. For example, the firm has worked with companies to promote opioids while at the same time representing the Food and Drug Administration assigned to regulate the industry. McKinsey also represented cigarette manufacturers long after cigarettes were targeted as a major health hazard. Until Bogdanich and Forsythe started digging, the company had been cloaked in secrecy since its inception in 1926. No one knew the firm's clients or their fees until these investigative reporters started peeling back the layers of secrecy. In the interview, Bogdanich also touts the need for good investigative reporting in the 21st century. He notes that with all the social media and political news silos, investigative reporting is more important than ever to look deeply and factually into issues. Bogdanich, now with the New York Times, won his first Pulitzer in 1988 while at the Wall Street Journal for a series about substandard medical laboratories. His second was for the Times in 2005 for a series about the safety record of American Railroads called “Death on the Tracks.” His most recent Pulitzer was in 2008 called “Toxic Pipeline,” a series about dangerous pharmaceutical ingredients coming into American from China.
Today on Mountain Money, (00:03) authors Walt Bog-Danich and Michael Forsythe discuss their book When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting FirmThen, (22:55) Maggie Heile, Founder and General Manager of Vin 7000 shares how it is now possible to join a wine club in Utah.Mountain Money ends the hour speaking with (36:08) Matt Irvin with Adventourage Heber Valley's newest outfitter at the Homestead Resort.
Watergate lawyer John O'Connor tells Shaun how our enemies have benefitted from Biden being in the White House. PLUS, New York Times investigative journalist Walt Bogdanich details the corruption of a very powerful consulting firm, McKinsey, in his new book "When McKinsey Comes to Town".See omnystudio.com/listener for privacy information.
The image of management consultants has taken a pounding in recent years, giving the industry a reputation for unscrupulousness on par with investment bankers. And a recent difficulties and controversies at the three most prestigious firms - McKinsey, Bain and Boston Consulting Group (BCG), known collectively as MBB - hasn't exactly helped the perception that they serve mostly to bamboozle CEOs while collecting fat fees. Can the industry be reformed?On this week's episode, hosts Mike Bird, Alice Fulwood and Soumaya Keynes are joined by our global business correspondent Thomas Lee Devlin to find out more about the booming business for advice, and the problems that bedevilling the industrry. They also speak with New York Times journalists Michael Forsythe and Walt Bogdanich about their newly-published book, “When McKinsey Comes to Town”, looking at failures at the most prestigious consultancy, McKinsey - failures that McKinsey says misrepresent its business. Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.
The image of management consultants has taken a pounding in recent years, giving the industry a reputation for unscrupulousness on par with investment bankers. And a recent difficulties and controversies at the three most prestigious firms - McKinsey, Bain and Boston Consulting Group (BCG), known collectively as MBB - hasn't exactly helped the perception that they serve mostly to bamboozle CEOs while collecting fat fees. Can the industry be reformed?On this week's episode, hosts Mike Bird, Alice Fulwood and Soumaya Keynes are joined by our global business correspondent Thomas Lee Devlin to find out more about the booming business for advice, and the problems that bedevilling the industrry. They also speak with New York Times journalists Michael Forsythe and Walt Bogdanich about their newly-published book, “When McKinsey Comes to Town”, looking at failures at the most prestigious consultancy, McKinsey - failures that McKinsey says misrepresent its business. Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.
What do the Houston Astros, the Saudi state-owned oil company Aramco, the makers of OxyContin and the Quebec government all have in common? They've all hired McKinsey & Company, a prestigious management consulting firm that has been around for nearly a hundred years. It's a firm with a client list as long and rich as its history and has a lot of power. McKinsey promotes itself as a values-driven organization, but it's also highly secretive. Today on Front Burner, host Jayme Poisson speaks with Walt Bogdanich and Michael Forsythe, the authors of a new book, called “When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm.”
When McKinsey Comes to Town authors Walt Bogdanich and Michael Forsythe say the consulting firm helped companies boost tobacco and opioid sales — while at the same time working for the FDA. "McKinsey's working for the companies and also the regulators that regulate them," Forsythe says. "I think most reasonable people would look at that and say, 'I think that's a problem.'"John Powers reviews the latest season of Ramy on Hulu.
When McKinsey Comes to Town authors Walt Bogdanich and Michael Forsythe say the consulting firm helped companies boost tobacco and opioid sales — while at the same time working for the FDA. "McKinsey's working for the companies and also the regulators that regulate them," Forsythe says. "I think most reasonable people would look at that and say, 'I think that's a problem.'"John Powers reviews the latest season of Ramy on Hulu.