The Rain on Macy's Parade

by Jeffrey A. Trachtenberg

one of the Wall Street Journal's best reporters gives readers a fly-on-the-wall account that details one of the more vicious high-stakes power struggle in the history of Seventh Avenue and Wall Street. Set against a backdrop of avarice, egotism, and boardroom battles, The Rain on Macy's Parade is the inside story of how Macy's executives launched the largest leveraged buyout in retail history and brought the company to its knees.

Genres: Nonfiction

274 pages, Hardcover

First published January 15, 1996

Reviews

[Donna · Rating 5 out of 5]

After reading Barmash's Macy's for Sale, I read Trachtenberg's book. I should have read this right after Macy's for Sale. This book tells the entire story of Finkelstein's buyout and its after-effects. Barmash's book focused on Finkelstein, and Trachtenberg covers all the players, including The Limited's Leslie Wexner. The author includes an epilogue explaining the physical changes Macy's underwent after Finkelstein was forced out. He also includes a 'what happened to' of the major players.

As I read this book, written in 1996, I couldn't help but feel a pang of nostalgia for the days when the word 'merchandising' was a staple in the few department stores that still exist. I am a relic of those pre-mall days when small department stores ruled in cities. They were so special, the wrapped packages, the shiny be-ribboned boxes with the store's logo emblazoned on the lid. It is a shame how much retail has changed. Strolling through a store, admiring the displays, chatting with the salespeople, and handling the merchandise was an enjoyable pastime. Online shopping doesn't do it for me.

Although Finkelstein did a good job of building up Macy's (that story is in Macy's for Sale), I have to admit I did cheer when he was forced out. Big-headed people who never admit mistakes or blame always get it in the end.

[Hectaizani · Rating 3 out of 5]

The story of the rise and fall of Macy's department store from the time it privatized through its Chapter 11 bankruptcy and eventual purchase by Federated. An interesting look inside big business. The author obviously did an enormous amount of research including talking to many of the key players. A small slice of history.