McKinsey does a relatively good job of staying out of the press.
But, a book called “The Firm: The Story of McKinsey and Its Secret Influence on American Business,” is being released today that may stir the pot a bit.
Early reviews indicate that the book dishes some serious smack at my former employer.
Here are some of the lowlights …
Ken’s Take: For years, Detroit has been a huge cash cow for consultants. Some things don’t change, I guess.
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The government will pay the Boston Consulting Group as much as $7 million to advise General Motors and Chrysler as they work to pare costs and overhaul operations, according to a federal award notice. G.M., which received $13.4 billion in federal money, is trying to avoid a potential June 1 bankruptcy. Chrysler, which received $4 billion, has an April 30 deadline to pare debt and complete an alliance with Fiat.
“A very significant portion” of Boston Consulting’s work will be to analyze G.M.’s restructuring plan and Chrysler’s proposed alliance with Fiat, according to the notice posted on a government procurement site.
Edit by DAF
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Excerpted from New York Times, “U.S. Hires Boston Consulting to Advise Carmakers”, from Bloomberg News, April 11, 2009
http://www.nytimes.com/2009/04/11/business/11bizbriefs-USHIRESBOSTO_BRF.html?ref=business&pagewanted=print
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