INCOMPETENCE + GREED + A TOUCH OF EVIL = McKINSEY:  I just got through Walt Bogdanich and Mike Forsythe’s explosive new book, “When McKinsey Comes to Town.” Everyone I know (myself included) who has worked in a corporate environment in which McKinsey has operated usually comes to the conclusion that McKinsey has a racket going that beats even the legal profession for sheer sliminess.

In my first hand experience, McKinsey was hired (no doubt at great expense) to “review” and “improve” the faltering Bloomberg TV network. What did they do? First, the “consultants” asked all the employees what they did, and how things worked. Then they created mountains of PowerPoint presentations and simply repeated what they’d been told. Finally, they recommended a “reduction in forces” (corporate-speak for layoffs). This pattern is the modus operandi for McKinsey: “Teach me what you do, and then I’m going to tell you how to do it.” Another pattern is that often consultants convince clients that they ought to be hired “in-house.” McKinsey doesn’t mind that at all because it’s one more “in”, one more tentacle reaching into corporate America.

That’s where the deep investigative work of Bogdanich and Forsythe really makes its mark, by comparing the company’s vaunted “ethical values” with the real-world activities of the company:

“McKinsey’s clients included corrupt governments in Russia, South Africa and Malaysia. There were the Russian companies put under US sanctions to punish Putin for seizing Crimea. And state-owned Chinese companies that provide the economic and military support for it’s powerful ruler, Xi Jinping.”

Worse yet, the revelations show that McKinsey had a hand in helping create or exacerbate severe domestic problems:

‘The most shocking revelation, was McKinsey’s decision to help companies sell more opioids when the abuse of those drugs had already killed thousands of Americans. Two senior partners discussed possibly purging records, apparently to hide their involvement.” […] When best-selling business author Tom Peters was interviewed for the book, he said of McKinsey’s role in increased opioid sales: “It’s nauseating […] How do you do that and pretend you are a values-driven company? How do you have a Values Day and do that shit? It’s unbelievable.”

Oh, it’s believable, all right. And Bogdanich and Forsythe are just the reporters to show the world what’s behind the McKinsey curtain. Bogdanich has taken on huge industries before, including a story about Phillip Morris allegedly “adding” nicotine to its tobacco. That story resulted in an infamous libel suit in which accountants and money-driven executives at ABC News promoted settlement instead of a jury trial. Forsythe is also not one to shy away from offending very powerful interests. By way of disclosure, I worked with him closely on his shattering expose for Bloomberg News about “The Princelings,” a group of secretive, corrupt and litigious young Chinese ultra billionaires who had familial relations with members of the CCP, ranging from Chairman Mao’s cadre to Xi Jinping.

Both are solid reporters and this book tells you in a smooth and well-sourced way what’s at stake when powerful entities with deep political connections run amok.