The Billion Dollar Oil Bet That Nearly Killed Germany's Metallgesellschaft
In 1991, German business magazine named Heinz Schimmelbusch “Manager of the Year.” Two years later, he was fired for nearly destroying one of Germany’s oldest industrial companies. Chapter 15 of Torsten Dennin’s “From Tulips to Bitcoins” tells the story of Metallgesellschaft, and it is one of the most painful corporate implosions in the book.