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The Last Tycoons
- The Secret History of Lazard Freres & Co.
- Narrated by: Robertson Dean
- Length: 32 hrs and 46 mins
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Publisher's Summary
Discretion, secrecy, and subtle strategy were its weapons of choice. For more than a century, the mystique and reputation of the "Great Men" who worked there allowed the firm to garner unimaginable profits, social cachet, and outsized influence in the halls of power. But in the mid-1980s, their titanic egos started getting in the way, and the Great Men of Lazard jeopardized all they had built.
Cohan follows Felix, the consummate adviser, as he reshapes corporate America in the 1970s and 1980s, saves New York City from bankruptcy, and positions himself in New York society and in Washington. Felix's dreams are dashed after the arrival of Steve, a formidable and ambitious former newspaper reporter. By the mid-1990s, as Lazard neared its 150th anniversary, Steve and Felix were feuding openly.
The internal strife caused by their arguments could not be solved by the imperious Michel, whose manipulative tendencies served only to exacerbate the trouble within the firm. Increasingly desperate, Michel took the unprecedented step of relinquishing operational control of Lazard to one of the few Great Men still around, Bruce Wasserstein, then fresh from selling his own M&A boutique for $1.4 billion. Bruce's take: more than $600 million. But as it turned out, Great Man Bruce snookered Great Man Michel when the Frenchman was at his most vulnerable.
Critic Reviews
“Cohan’s portrayal of the firm's dominant partners - whose gargantuan appetites and mercurial habits provide the unifying force behind the book’s operatic melodramas - makes this an epic . . . In fact, The Last Tycoons bears a striking resemblance to F. Scott Fitzgerald’s The Last Tycoon.” (New York Times Book Review)
“Breezy and highly readable . . . For those of us who enjoy high-level gossip (most people) and an inside look at the machinations, triumphs, failures, and foibles of some of Wall Street’s and America’s most exalted personages, Cohan’s book is entertaining and seductively engrossing.” (Chicago Tribune)
“Cohan's thoroughness - he interviewed over 100 current and former bankers and assorted bigwigs - unearths a trove of colourful titbits, many quite racy . . . Illuminating are Mr. Cohan’s descriptions of the scheming, politicking, and general dysfunction that was Lazard.” (Economist)