Hi Michelle, I have just read the following comment about the book:

In this frank memoir, Miller reveals a rarely seen side of American management. Known for his wry sense of humor, Miller talks about what it takes to be an executive, and shares the credit for his success with his "mentor and occasional tormentor"--his wife and ally of 40 years.

But Michelle, I wonder if Steve also wrote in his book about his and other company saviors whiz kids failures while driving the companies, its employees, its shareholders, and others, into the ground? Here is one of them:

Chainsaw Al

http://www.businessweek.com/1999/99_42/b3651099.htm

Notice that Al also was writing a book, and yes, I lost money here via the Mutual Series funds holding Sunbeam's stocks.

As to your question: Hello, Steve. What was your goal in writing this book, and what can brokers take from it? 

My answer: to write a book,  make some money and also brag about yourself! Reminding you that many stockbrokers often brag about themselves and the markets.

However, good company business turnover specialists are indispensable . Here is one like that but is deceased:

Harvey "Chet" Krentzman.

http://www.boston.com/news/globe/obituaries/articles/2005/12/25/harvey_krentzman_at_79_entrepreneur_and_mentor/

Chet, I miss you even if you used to brag somewhat.  You're a super good business savior!

Chainsaw Al is a key character in my book.  I had a personal confrontation with him, when he wanted to take over Waste Management.  I declined to let him, for the very reasons you mention: I had no confidence that he could build a long term successful business model for the benefit of all stakeholders.

Writing a book is not the way to wealth.  It cost me more than what I got paid.

Had I just wanted to brag about myself, I would not have so explicitly talked about my misjudgments and failures.  One merger I characterized as 'my biggest ever Corporate belly-flop.'  I suggest you read the book before attributing a brag motive to it.

Steve Miller

Hi Steve, by " bragging " I meant  " writing about yourself " and not necessarily " shvitzing " (boasting). Bragging this way, could be regarded as  positive or negative, but the reader will decide.
But as you said Steve that I should first read the book.

Best regards.

My goal in writing the book was simply to provide the reader (whether business savvy or not) with an interesting personal journey, a portrait of the many heroes and scoundrels I met along the way, and perhaps a few lessons about how to improve a troubled enterprise.

While brokers may learn a few pointers about what trouble signs to look for in a potential investment, I would also hope that this makes an engaging read during a summer holiday at the beach.

Hello, Steve,

Hope you enjoyed the 4th.

When we spoke for the podcast, you mentioned that your book is for business men and women, but for their spouses. How so?
 
Thank you,

Michelle Lodge
onwallstreet.com

What I said was that I wanted a book that could be equally enjoyed by the spouse of the businessperson that buys the book.
I believe that goal was achieved, based on the reactions of people I have heard from.

The 'business' part of the book is mostly about the colorful characters I encountered.  And the text is more about human events, rather than dry theoretic business concepts.

And overlaid to the business part is a deeply personal description of the ups and downs of my forty-year marriage to Maggie.

Steve

Steve,

When a company is in trouble, what are the warning signs?

Best,

Michelle Lodge
onwallstreet.com

The warning signs are very different from company to company. Typically, however, common signs are:

• Missing guideline earnings numbers
  
• Turnover in senior executive ranks
  
• Cashless earnings (inadequate cash flow compared to reported earnings)
  
• Executives cashing out options or stock holdings
  
• Declining market share
  

Steve

On the flipside, how can financial advisors, tell when a company is coming back after most investors have written it off?

Very hard to generalize an answer, since every situation is different.  But things may have bottomed out if there is either a new leader, or a new strategy in place, plus a couple months where the bad news stops coming out.  That often means that the worst is over, and that the new strategy is starting to take hold.