Crash Landing

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A kaleidoscopic account of the financial carnage of the pandemic, revealing the fear, grit, and gambles that drove the economy’s winners and losers—from a leading business reporter. In early March 2020, the Dow Jones was near 30,000, and major companies were enjoying an economic high. By month’s end, millions were unemployed, iconic firms sought bailouts, and countless small businesses faced collapse. Business leaders, caught off guard, abandoned long-term strategies in hopes of survival. Award-winning journalist Liz Hoffman illustrates how the pandemic ignited existing economic vulnerabilities. Post-2008 financial crisis, corporate leaders embraced cheap debt and prioritized growth, leading to stagnant wages and a surge in gig economy jobs. Companies packed workers into offices, and airlines did the same with planes, while Wall Street cheered this relentless efficiency, ignoring the risks involved. With remarkable access to major companies, Hoffman reveals how CEOs confronted an unprecedented economic disaster. From Airbnb’s Brian Chesky navigating a public offering during a crisis, to American Airlines’ Doug Parker seeking a multibillion-dollar bailout, and Ford’s Jim Hackett shifting production from cars to ventilators, the narrative captures a pivotal moment in economic history. This account probes the future of work, corporate leadership, and capitalism, questioning whether this period will foster resilience or be forg