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Summary: Everything you never knew about M&A
Review: Dead Bank Walking gives a very candid and sobering insight into the merging of two banking bohemoths: Security Pacific and Bank of America. People who choose to purchase this book will be thrust into a world of high stakes finance, replete with sometimes brutally honest depictions of the people involved in one the biggest banking mergers in history. Mr. Smith holds nothing back and does a brilliant job of placing the reader directly in the line of fire...basically, in his shoes! His narrative is very descriptive and positively enthralling. Although armed with a seemingly unending supply of wacky characters (including downright white-collar criminals, pompous executives and bloated know-it-all middle managers), Smith avoids the easy way out of making this a diatribe of how unfairly he was treated, rather he takes great pains to illustrate the personal sacrifices others were forced to make in the best interest of the shareholders. Unfortunately, this places the author in an extremely difficult position and what transpires is nothing short of miraculous.
This book is an absolute nail-biter that will surprise you. You definitely would not expect this from a book about "some bank merger that happened 10 years ago out in California." If you work in the business world, especially in the banking industry, you must read this work of passionate dedication and self-sacrifice. The book's in-your-face comments and insight, peppered with self-depricating wit, will make you forget you're reading a book about "business," making it read more like a Oliver Stone screenplay.
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Summary: A Good Quick Read for Current/Former Employees...
Review: Dead Bank Walking showcases the historic merger between Security Pacific and the Bank of America which combined to financial corporate giants and set in motion an avalanche of banking marriages and mergers which continues to the present time. In Dead Bank Walking, Robert Smith explains the causes and rationales of this mega-merger which is an exemplar of all corporate merger strategies, objectives, and hazards. Smith evokes the humor and frantic chaos surrounding the deal that is still considered as either a brilliant coup or a tragic error of judgement with lasting implications and effects on banking sovereignty and independence. Dead Bank Walking will prove informative, engaging, insightful, authoritative, explanatory reading of interest to students of economics, the banking system, and the phenomena of the mega-merger.
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Summary: A Unique Insider's Perspective
Review: Having read other books (Den of Thieves, Barbarians at the Gate, etc.) written on some of the other deals which took place in the late eighties and early nineties, I was looking forward to something similar with "Dead Bank Walking."While the book certainly delivers an informative account of Security Pacific's rise and eventual merger with Bank of America, it also offers the perspective of one of the deal's main decision makers. Instead of the 'Monday Morning Quarterback' approach of most business retrospectives, Smith offers the reader the opportunity to understand all of the factors which influenced this mega-merger and the eventual aftermath. I'd recommend this book to anyone involved in the financial services industry or considering a career in finance.
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Summary: A timely business book
Review: I bought this book because it looked like a people-book about big deals and mergers and I was surprised by how gripping it was. It is also extremely funny. It is not like any other business book I have ever read. I came away with a sense of the participants as people. It is also well written. The first half of the book is about how Security Pacific got into trouble with banking regulators and some famous dealers like Trump and Peter Uebberoth. This part of the book is fast and hilarious and fascinating. The second half is about the merger of Security Pacific and Bank of America,and here the story really took focus and became quite intense. I can't remember getting so emotionally involved in a story about business. I would recommend this book to anyone interested in business and banking--especially if you are sick of books promoting companies that masquerade as business stories.
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Summary: Courageous and Revealing
Review: I enjoyed the book thoroughly. The unique writing style helped. It reads like a novel but, contains research data that makes it "an education." I have no concept as to what it would be like to be on either side of the deal. However, I was impressed by Robert Smith's approach to objectivity and it took a great deal of courage to reveal some of the facts and make some of the statements which are part of the work. I have recommended the book to several of my clients and I look forward to receiving "feedback" from them. One more thing - despite the many intrigues and complexity of data, the book is remarkably easy to read.
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Summary: Compulsive Mandatory Reading
Review: I praise Smith's unrelenting candor. This compulsively readable book details the rise, fall and merger of Security Pacific Bank. Despite the humor, a melody of nostalgia underlies this important look at the underside of the mergers we take for granted. The anecdotal stories are not only humorous but convey important truths and contemporary lessons. I take issue with the reviewer who claimed Smith is in denial--Smith shoulders more responsibility than he bears. The language is vivacious, playful, powerful and evokes the flavor and feeling of the trauma he and his colleagues experienced during the course of this historic merger. I recommend it very highly to anyone contemplating a career in finance.
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Summary: Intriguing expose
Review: I was suprised at what an exciting and interesting read Dead Bank Walking was. It not only gives anyone interested in business and banking an insiders look at the problems inherent in mergers, it does so through the eyes of the people who were involved. This human element captivated my interest as much as the story itself.
Rating: 
Summary: Dead Bank Walking, but with a big limp
Review: I was there during the period of this book, at a lower level of Security Pacific. I found the book almost unbelievably exciting and scary. It explains much about what was happening to the "troops" that we could not understand. Smith did a good job of keeping the true problems away from all of us, including employees and the public, as he no doubt had to in order for the merger to succeed. All in all, anyone with any interest in banking and finance should find this an exciting and informative book.
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Summary: DEAD EXECUTIVE TALKING
Review: One-third an attempt at executive character rehabilitation in the best PR-spin fashion, one-third an attempt at "it wasn't our fault" based on the SODDI (Some Other Dude Did It) defense, and one-third "mea culpa" for the wrongs that we committed by others. Mildly amusing as an historical recollection of events during trying times, but even better as an insight into the "gentleman's club" that was banking. It's all here: the arrogance, the posturing and the inability to listen to those subordinates who clearly sounded the alarms before the iceberg was struck. Bottom-line: wait for the book's appearance on the remainder table at $1.99 and congratulate yourself on being fiscally responsible enought to evaluate the contents based on the reviews.
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Summary: To Speak the Unspeakable
Review: That "Dead Bank Walking" has re-ignited debate on mergers and, in some cases, reopened old wounds, is a testament to its penchant for paring close to the bone. It is almost sacrilege for the chairman of a huge corporation to confess that when the chips are down shareholders are more important than employees. I am by no means an apologist for mass layoffs, but as an attorney I appreciate how rare it is for an executive to state what is harsh but truthful: That executive management has a legal fiduciary obligation to the shareholders of a corporation, and that this factor plays the key role in any decision to merge. Mr. Smith resoundingly makes his argument that Security Pacific Bank had no serious alternative--an ugly truth, but a truth nonetheless. This is the first time I have seen a CEO admit the un-admittable with conviction, humility, and some measure of self-rapprochment. Mr. Smith obviously regrets that he and BofA Chair Richard Rosenberg had to lay off so many employees--I read between the lines and sensed he is haunted by it--but is honest and courageous enough to say it was the right solution to an insurmountable problem. Readers who prefer the sugar-coated version are advised to steer clear of "Dead Bank." But for those in search of authenticity and clarification, this book is quite simply a revelation. In my estimation Chairman Smith has little to gain and much to lose by writing this book; it is the type of book a CEO never writes. A CEO is supposed to go off quiety to his corner with his golden parachute and never be heard from again. The style and fecundity of the writing is evidence of how important it was to Smith to relate this story and engage readers without condescension. The prose is vital but comprehensible. Any literate individual will immediately understand the momentous issues at stake. Smith manages to find humor in unlikely places. I have read a number of CEO manuscripts that never made the cut to published works and I can attest not only to the fact that Smith is an unusually adept author, but how rare indeed it is for an executive to be able to express himself in words to the degree that they provoke a heartfelt emotional response in the reader. I applaud the writing of this book and hope that it inspires other high level executives to speak the unspeakable.
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