Crash Landing: The Inside Story of How the World's Biggest Companies Survived an Economy on the Brink

A kaleidoscopic account of the financial carnage of the pandemic, revealing the fear, grit, and gambles that drove the economy's winners and losers--from a leading business reporter

"A true masterwork . . . perceptive, well researched, and captivating."--David M. Rubenstein, co-founder and co-chairman of The Carlyle Group, bestselling author of How to Invest

It was the ultimate test for CEOs, and almost none of them saw it coming. In early March 2020, with the Dow Jones flirting with 30,000, the world's biggest companies were riding an eleven-year economic high. By the end of the month, millions were out of work, iconic firms were begging for bailouts, and countless small businesses were in freefall. Slick consulting teams and country-club connections were suddenly of little use: Business leaders were fumbling in the dark, tossing out long-term strategy and making decisions on the fly--decisions that, they hoped, might just save them.

In Crash Landing, award-winning business journalist Liz Hoffman shows how the pandemic set the economy on fire--but if you look closely, the tinder was already there. After the global financial crisis in 2008, corporate leaders embraced cheap debt and growth at all costs. Wages flatlined. Millions were pushed into the gig economy. Companies crammed workers into offices, and airlines did the same with planes. Wall Street cheered on this relentless march toward efficiency, overlooking the collateral damage and the risks sowed in the process.

Based on astonishing access inside some of the world's biggest and most iconic companies, Crash Landing is a kaleidoscopic account of the most remarkable period in modern economic history, revealing--through gripping, fly-on-the-wall reporting--how CEOs battled an economic catastrophe for which there was no playbook: among them, Airbnb's Brian Chesky, blindsided by a virus in the middle of a high-stakes effort to go public; American Airlines' Doug Parker, shuttling between K Street and the White House, determined to secure a multibillion-dollar bailout; and Ford's Jim Hackett, as his assembly lines went from building cars to churning out ventilators.

In the tradition of Too Big to Fail and The Big Short, Crash Landing exposes the fear, grit, and gambles behind the pandemic economy, while probing its implications for the future of work, corporate leadership, and capitalism itself, asking: Will this remarkable time give rise to newfound resilience, or become just another costly mistake to be forgotten?

Author: Liz Hoffman
Publisher: Crown Publishing Group (NY)
Published: 03/07/2023
Pages: 304
Binding Type: Hardcover
Weight: 1.25lbs
ISBN: 9780593239018


Review Citation(s):
Library Journal Prepub Alert 11/01/2021 pg. 23
Library Journal Prepub Alert 10/01/2022 pg. 14
Publishers Weekly 01/02/2023
Kirkus Reviews 01/15/2023

About the Author
Liz Hoffman is a senior reporter for The Wall Street Journal, where she has covered financial markets, corporate dealmaking, and the machinations of Wall Street since 2013. A native of central Pennsylvania, she graduated from Tufts University and the Medill School of Journalism at Northwestern University and lives in Brooklyn.