The Fall of the House of Forbes: The Inside Story of the Collapse of a Media Empire

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St. Martin's Publishing Group, Sep 27, 2011 - Business & Economics - 320 pages

Forbes: the legendary name in finance journalism. Synonymous with wealth, grand excess, glamour, and fun as well as style, insight, gossip, and hard-nosed reporting, the media empire and the family behind it form a remarkable story that has never been told. Now, in The Fall of the House of Forbes, veteran journalist Stewart Pinkerton reveals the hidden machinations, disastrous decisions, and personal foibles of a century-old dynasty that rose to glittering heights and crashed just as spectacularly.

Writing from an insider's perspective and first-hand sources developed over his twenty years as a writer and editor at Forbes, Pinkerton takes us to the ritualized formal lunches inside the mansion-like headquarters at 60 Fifth Avenue in Manhattan; the lavish advertiser parties on board the family yacht, The Highlander; the sybaritic private life of Malcolm Forbes and the family's increasing discomfort with its patriarch; and the glory days of the magazine, with its news-making stories, high-rolling expense accounts, and bar-setting standards for anyone who aspired to wealth and its trappings. But as the media business changed, Forbes was slow to react, and found itself burdened by Malcolm's immense personal expenses, Steve Forbes's bumbling, self-financed presidential campaigns, and the family's hubris and hesitation in the face of reality. A series of devastating business decisions and an internecine struggle for power forced the sale of the Faberge eggs, the vintage toy collection, the homes, the private island, the yacht, and finally the sale of 40% of the company itself to outside investors...a collapse of shocking speed after decades of unsurpassed success.

A compelling narrative account of a powerful family's dysfunction, The Fall of the House of Forbes is a parable of capitalism at its best and worst, and a metaphor for the current state of digital turmoil in media.

 

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THE FALL OF THE HOUSE OF FORBES: The Inside Story of the Collapse of a Media Empire

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A Forbes magazine insider explores the decline of the Forbes media brand and the family's wealth.Pinkerton, former Wall Street Journal deputy managing editor and Forbes managing editor, arrived at the ... Read full review

Contents

I See Rich People
Lets Really Stir Up the Animals
Fuck Were Going to Dinner
But What If Someone Really Good Comes Along?
The Death Star
World War I Was a Rough One
Stepchildren
Steve Versus

Why Is That Man Laughing?
Inside the Money
The Meltdown Begins
The Dismantling
Book II
Roots
Big Hat No Cattle
Enough Sacred Cows to Populate All of India
Who Ordered a 5 00 Lobster?
The Rising
Bully Egotist Tyrant Boor
Politics 101
Roots II
Im Going to Fire Somebody Today
Book III
The Prince of Darkness Part
Politics 102
Book IV
20 Somewhere
Thelma and Louise
Know Your Audience
Selma Without Hoses
The Prince of Darkness Part
Death by a Thousand Hacks
Hail Mary
Notes
Bibliography
Index
Copyright

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About the author (2011)

STEWART PINKERTON is former Managing Editor of Forbes Magazine and former Deputy Managing Editor of The Wall Street Journal.

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