Freakonomics Radio 560. Is This “the Worst Job in Corporate America” — or Maybe the Best?
56 snips
Oct 5, 2023 John Ray, an experienced emergency CEO and bankruptcy expert, shares insights from his high-stakes career, including navigating the infamous FTX collapse. He discusses the challenges of taking over failing companies, emphasizing the critical need for financial accountability and leadership during crises. Ray reflects on his journey from Pittsfield to FTX, revealing how his experiences shaped his approach to corporate restructuring. He also explores the broader implications of failure in business, advocating for learning and growth amidst adversity.
AI Snips
Chapters
Books
Transcript
Episode notes
Ray's Roots
- John Ray grew up in Pittsfield, Massachusetts, a town dominated by General Electric.
- His father worked as a plumbing contractor, primarily serving the GE factory.
Kennedy Influence
- After graduating from UMass Amherst, Ray interned for Senator Ted Kennedy.
- He was inspired by Kennedy's genuine dedication to helping constituents, regardless of their voting power.
Choosing Mayer Brown
- Ray chose to work for Mayer Brown, a law firm facing challenges after the Penn Square Bank collapse, because he saw opportunity in their underdog status.
- A federal judge questioned his decision, highlighting the firm's perceived instability.
