America for Sale: How the Foreign Pack Circled and Devoured Esmark

I thought that America for Sale: How the Foreign Pack Circled and Devoured Esmark was an amazing story of Wall Street and Steel.

This book is what the world needs - what has happened and what is likely to happen in a concise easy to read way. I found the economic and financial analysis in the first half of the book very informative. There are also many actionable items for those of us who are in the "market."The second half is the amazing story of Esmark - the unknown Berkshire Hathaway. The Bouchards ought to be renamed Midas's for their golden (or shall we say steel) touch - the vision to see steel in 2003 as the place where the next leg of fortunes to be made - who would have thought? I loved the real life drama the intrigue the cast of characters (some of whom are now senior Obama administrative officials) the Russians the Indians - move over James Bond - we have got the Bouchards.Must read - unlike many books that once you put it down you cannot pick it up this one you want all your friends and family to read immediately.Not Steely Dan - Steely Bouchard!!!!

AMERICA FOR SALE by Craig Bouchard and James KochBouchard and Koch have put together a concise, but thorough, overview of the recent economic crisis, with their forecast for the global economy going into 2010.In addition, the authors explain the past and current situation with regards to the U.S. Steel industry, with a detailed description of Bouchard's personal experience in acquiring his own steel company with his brother, Jim, its reorganization, and eventual sale to a Russian concern.This book is a must read for anyone interested in the global economy, the steel industry, and the potential threats to the American economy in the coming years.Current, up to date, interesting and inciteful...

I won't get into the ridiculous public statements and the shady dealings. All I will say is this: it seems rather asinine to harp about the dangers of domestic steel asset purchases by foreign companies when you are, in fact, the guy who initiated and closed the deal.End of sermon.

Some may recall the Esmark name from another famous business book, Barbarians at the Gate. While that book features the KKR buy-out of RJR Nabisco, it also mentions Esmark as it was involved in the largest leveraged buy-out deal until the Nabisco deal was struck in the mid-1980s. At that time Esmark was a diversified consumer products company... flash forward to 2003 and the rebirth of Esmark, the steel company.America For Sale: How the Foreign Pack Circled and Devoured Esmark documents how two Brothers, Craig (the money guy) and Jim (the steel guy) Bouchard, revived the Esmark name by acquiring a string of companies in the fragmented steel service center industry (13 acquisitions in total). With an initial investment of $2.4 million, the Bouchard brothers grew Esmark to an enterprise value of $1.3 billion in approximately four years to become the 4th largest American steel company when the company was sold to the Russian steel and mining giant, OAO Severstal. In between these events is the equivalent of a corporate finance Harlequin romance with an insiders view of a highly publicized proxy battle, reverse hostile merger (the first ever to close), clandestine meetings with titans of industry, and the often unpredictable negotiations with unions.However, this book is more than just a documentary of the events leading to the sale of Esmark to Severstal. While the Esmark story is key to the narrative, it is merely a framework for the reader to contemplate larger economic issues such as foreign ownership of US assets, the role of CFUIUS (the government oversight group responsible for approving foreign acquisitions), exchange rates and the weakening US dollar and current economic policy (sub prime, federal stimulus, rise of national debt, etc.).American For Sale makes the complexities of current public policy accessible to the layman and is a must read for anyone interested in keeping the America Dream alive.