The Power Structure of American Business
Mintz and Schwartz offer a fascinating tour of the corporate world. Through an intensive study of interlocking corporate directorates, they show that for the first time in American history the loan making and stock purchasing and selling powers are concentrated in the same hands: the leadership of major financial firms. Their detailed descriptions of corporate case histories include the forced ouster of Howard Hughes from TWA in the late fifties as a result of lenders' pressure; the collapse of Chrysler in the late seventies owing to banks' refusal to provide further capital infusions; and the very different "rescues" of Pan American Airlines and Braniff Airlines by bank intervention in the seventies.
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Constraint Discretion and Intercorporate Power
The Structure and Functions of Unity among
Bank Intervention Institutional Stockholding and
The Texture of Financial Hegemony
Unity and the Division of
Financial Groups and Intracapitalist Competition
Interlocking Directorates among
Refinements in Centrality Analysis
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action activities American analysis argue bank control bankers bankruptcy become borrowers Business Week capital centrality changes chapter Chase Chemical Chicago chief executive clique competition connections Consider constraint coordination corporate created crisis debt decision dependency derived directional directors discretion discretionary discussion dominant economic evidence example existence financial institutions firms forced Fortune funds hegemony hubs important increase individual industrial industrial firms influence insurance companies intercorporate interest interlocks International intervention investment involved largest leadership lenders lending less loan maintained major manufacturers March million money market Morgan Mutual National Bank nonfinancial officer operate patterns peak period position produce profits ranked reflect regional relations relationships reported representatives resource role sectors sources Steel stockholding strategic structural suggests Table theory ties Trust United York