April 16, 2008

News & Opinion: A book that predicts the future of Delphi?

By: 800-CEO-READ @ 4:11 PM – Filed under: Management & Workplace Culture

There's a lot of controversy surrounding yesterday's release of Steve Miller's book, The Turnaround Kid: What I Learned Rescuing America's Most Troubled Companies. Miller is the former CEO of Delphi Corp., the auto-parts supplier; he was called in to help bail out the company. Miller was also the man Lee Iaccoca called to help with Chrysler's downturn. And Miller worked for Bethlehem Steel while they went bankrupt.
Miller began writing back in 2005 long before Delphi's fate had been determined. From the WSJ: "The book was intended to outline the wisdom he has gained over the years as a turnaround artist, and to tell the inside story of how he rushed into Delphi, used Chapter 11 to force tough medicine on its unions and whipped the giant auto supplier into shape."
The somewhat ironic and, imaginably, awkward situation is The Turnaround Kid was written from the perspective that Miller had already turned Delphi around. As it turns out, that prediction (and the book release) is a bit premature as presently Delphi is still fighting it's way through bankruptcy court.
Nonetheless, yesterday the 40,000 printed copies went out into the world for the public to buy.