The Power Structure of American Business

Download or read book The Power Structure of American Business written by Beth A. Mintz and published by University of Chicago Press. This book was released on 1987-06-30 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mintz and Schwartz offer a fascinating tour of the corporate world. Through an intensive study of interlocking corporate directorates, they show that for the first time in American history the loan making and stock purchasing and selling powers are concentrated in the same hands: the leadership of major financial firms. Their detailed descriptions of corporate case histories include the forced ouster of Howard Hughes from TWA in the late fifties as a result of lenders' pressure; the collapse of Chrysler in the late seventies owing to banks' refusal to provide further capital infusions; and the very different "rescues" of Pan American Airlines and Braniff Airlines by bank intervention in the seventies.