Autumn of the Moguls: My Misadventures with the Titans, Poseurs, and Money Guys who Mastered and Messed Up Big Media. Michael Wolff
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СКАЧАТЬ that invariably, rationality will emerge out of the current mess. If Martha Stewart goes to jail, the world will have been righted. It’s all ultimately part of a healthy process. After this period of resignations, terminations, investigations, and reorganizations, normalcy will return.

      The rules of reporting and analysis are that even if you have good reason to suspect that the end is near, that events are largely out of control, that very bad things will invariably happen to very bad companies, you’re not allowed to say it. There’s just no formula or model for applying any sort of chaos theory, or even gut sense, to business reporting or corporate analysis.

      You couldn’t say what seemed pretty obvious: that nobody knew how to run the superaggregated and radically transformed companies that came into being during the past decade. That these companies defied control, were too vast and far-flung and composed of too many recalcitrant people and inimical functions. This, together with the fact that the guys who ran these companies often clearly had no idea what they were doing.

      Everybody but the most literal-minded knew this.

      But to be a respectable business reporter, you have to pretend the world is a coherent, rational, by-the-numbers place. You can’t report that everything is up for grabs, that the greatest likelihood is that we’re deep into a process that will cause the reordering of most of the basic structures of the media business—that the sky is falling.

      Now, each of the management coups at AOL Time Warner, Vivendi, and Bertelsmann during the summer of 2002 was reported as a function of internal travails, and that is obviously the case—each enterprise was reporting its own variation on a looming cash crisis, which, in business terms, is the mother of all crises. On the other hand, three is a trend. Three indicates a mass movement, a systems issue, a rapidly spreading condition. It is not just a function of bad management but of larger, converging forces. History is turning against you—and is probably out to get you. And there’s no way to manage yourself out of the mess.

      But responsible reporters can’t say that.

      Which is why I started to wonder if I might have special powers.

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