Very honored to work with the legendary on this deep dive investigation into McKinsey's debacle in South Africa. We found the roots of the crisis were sown decades ago.
South Africa has the world's worst income inequality, w/ youth unemployment above 50%. But McKinsey, an American firm whose partners drove Porsches and Ferraris, inked an illegal contract w/ the state-owned power company worth as much as $700 million.
South Africa’s state-owned power company was on the verge of insolvency, and McKinsey & Company, the godfather of management consulting, thought it could help. Here’s how it was the biggest mistake in its nine-decade history
How McKinsey Lost Its Way in South Africa via -confidentiality can become problematic when public money is involved, as in South Africa, or the United States, where McKinsey has advised more than 40 federal agencies.
McKinsey rolled the dice on South Africa and lost. Here’s the story behind the biggest mistake in the consulting firm’s 92-year history.
It has taken a while for McKinsey’s enablement of massive corruption in South Africa to get sustained attention in the US, but this story is going to sting. As it should.
It didn't take a Harvard MBA to understand why South Africans, beset by the world's worst income inequality and youth unemployment topping 50%, were angry at the massive payout going to McKinsey, whose senior partners can make millions of dollars a year
This is a pretty amazing story about and I'd be interested to know how company leaders square $20 million in contracts with to the company's commitment to diversity & inclusion.
McKinsey, the gold standard in management consulting, was lured into an irresistibly lucrative contract with a corrupt government. Spoiler alert: The gold got tarnished. Badly. Story by the stellar team of ⁦⁩ and ⁦
McKinsey is a keeper of secrets the world over. But in South Africa, its culture of confidentiality helped ensnare the firm in the worst crisis in its nine-decade history, a New York Times investigation found.
Astonishing, must-read NYT McKinsey exposé, even with the weird (and false) “McKinsey has undeniably been a force for good” phrasing in the to-be-sure graf.
I am quoted by in this piece on how McKinsey lost its way in South Africa
Over objections from at least three influential McKinsey partners, the firm signed on to what would become its biggest power contract ever in Africa, with a potential value of $700 million. Here's why it matters
How McKinsey Lost Its Way in South Africa
Blockbuster investigation from and —“You are betting the office,” one former partner recalled warning colleagues. If the final payout became public, that official added, “You are going to be slaughtered just for the size.”
Ouch "Mr. Skilling — who would become Enron’s chief executive and end up in federal prison after its vast accounting fraud was revealed — saw the ethical trap. A future generation of McKinsey partners came to a different conclusion."
How McKinsey Lost Its Way in South Africa When the godfather of management consulting landed its biggest contract ever in Africa, it made the worst mistake in its storied nine-decade history.
A famed consulting firm. A huge contract. We examine the roots of McKinsey’s disastrous gamble in South Africa.
McKinsey is a keeper of secrets the world over. But in South Africa, its culture of confidentiality helped ensnare the firm in the worst crisis in its nine-decade history, a New York Times investigation found.
Apparently at McKinsey hiring a private investigator is something people do before trying a quick Google search
How the world’s most prominent management consultancy — the storied — became midwife to a sordid South African corruption scandal. A riveting tale by &
Amazing! Unheard of: McKinsey chief Dominic "Barton has made six trips there to assess the damage and make amends, and McKinsey has asked its 2,000 global partners to repay South Africa, where it is under investigation."
南非有自由媒体。结果是,麦肯锡跟南非国营企业的非法合同已经被媒体透露。在中国,麦肯锡跟19多的央企有咨询关系。但是,中国没有自由媒体。
South Africa’s state-owned power company was on the verge of insolvency, and McKinsey & Company, the godfather of management consulting, thought it could help. Here’s how it was the biggest mistake in its nine-decade history
Prof. and students in his Investigative Project class contributed to this investigation with . A fascinating read about #McKinsey "the godfather of management consulting"
I tweeted this article yesterday but I really want to emphasize that it contains the information that Aleksandr Solzhenitsyn's oldest son is a senior partner at McKinsey
Say what? "Since President Trump took office, McKinsey has greatly expanded consulting for Immigration and Customs Enforcement through that agency’s office of “detention, compliance and removals.” Their contracts with the agency exceed $20 million."
Under Trump, McKinsey has greatly expanded consulting for ICE through that agency’s office of “detention, compliance and removals.”
Our is one of the main interlocutors in this story on how McKinsey Consulting got undone by running cover for corrupt new South African elites.
In South Africa, the world's most storied consulting company made the biggest mistake in its nine-decade history. A NYT investigation of McKinsey, by and me
In late 2015, McKinsey decided the risk was worth taking and signed on to what would become its biggest contract ever in Africa, with a potential value of $700m. | via
Good to see quoted in “how 21st-century global capitalism works” NYT piece >>
"McKinsey will now give state-owned companies the same scrutiny it would government agencies or ministries. That policy may have a major impact in China, where McKinsey has advised at least 19 of the biggest state-owned companies" & state planning agency
A McKinsey power contract turned out to be illegal, a violation of South African contracting law, with some of the payments channeled to an associate of an Indian-born family, the Guptas. Our reporters explain the latest
Given their South African track record, this seems par for the course, rather than a surprise.
How McKinsey lost its way in SA. A story of single source procurement, lack of transparency, insufficient local knowledge, $millions of public money. Lots of lessons to be learned for consultants/advisers to govts, esp in dev countries (h/t )
How McKinsey lost its way: ...”the scandal in South Africa, underscores the risks that arise as governments increasingly turn over responsibilities to consultants who operate mostly in secret, with little or no public accountability.”
When McKinsey, the godfather of management consulting, landed its biggest contract ever in Africa, it also made the worst mistake in its storied nine-decade history. By and
How McKinsey Lost Its Way in South Africa by with beautiful photographs by
Dr Chelwa makes an incisive (yet damning) observation
McKinsey's contract with South African state power company Eskom had a potential value of $700m, according to this NYT deep dive into one of the major players of the Guptas scandal
Looking for a bit of weekend reading? Try this. How Lost Its Way in #SouthAfrica
How McKinsey Lost Its Way in South Africa
A terrifically written and reported look at How McKinsey Lost Its Way in South Africa
Long story short: In what conventional economic logic would foreign consultants be paid 700 million USD for advice on reforming a state-owned company?
South Africa has the world's highest income inequality, according to the World Bank. Local McKinsey partners can make more than $1 million a year.
How McKinsey Lost Its Way in South Africa
How McKinsey Lost Its Way in South Africa
Collosal McKinsey snafu South Africa
How McKinsey Lost Its Way in South Africa
Do we need to revisit #FCPA or consider other law regulating US-based companies' activities abroad? Their doings can compromise & undermine US interests. Can anyone recommend scholars who've examined these issues fr theoretical &/or empirical perspective?
bookmarking this one -> How McKinsey Lost Its Way in South Africa
This is about how Lost Its Way in South Africa but most revealing fact in story is that McKinsey has $20M in US contracts with for #detention & removal. No non-profit should ever work with them again.
You know it's not a good day at McKinsey when the person who comes off the best and most principled in this feature on a South African deal gone very bad is Jeff Skilling.
Did ⁦ violate the Foreign Corrupt Practices Act? ⁩ via
How McKinsey Lost Its Way in South Africa via
How McKinsey lost its way: I used to feel proud to have worked there in the 90s. These days no so much
One of the random but interesting facts in this story is that Aleksandr Solzhenitsyn’s son works for McKinsey and was involved in this mess.
McKinsey really took to heart the lessons of its *last* giant scandal, in South Africa.
How McKinsey Lost Its Way in South Africa