Alternative title: $%#tty-Group
Oh terrific: We are going to have two medium size piles, instead of one giant compost heap.
Is this going to be a good bank/bad bank split, or is it more accurate to say its a bad bank/worse bank ?
Serious question: Can you name any mega-mergers that have actually worked as advertised? Outside of Oil/commodity firms (Exxon Mobil, Conaco Phillips, BP Amoco are just piles of similar resources), has ANY massive M&A conglomerate actually worked out?
Monster firms all seem to have similar problems: Clash of egos, disparate business lines, frictional corporate cultures.
The one successful example I can think of is Oracle — but they have mostly bought firms started by former employees.
Have any jumbo mergers actually worked out for shareholders?
Citigroup Reports $8.3 Billion Loss, Splits Into Two
Bradley Keoun and Josh Fineman
Bloomberg Jan. 16 2009
Citigroup Reports Big Loss and a Breakup Plan
MATTHEW SALTMARSH and ERIC DASH
NYT, January 16, 2009
Citigroup posts $8.29B loss, splits up the company
AP, January 16, 2009
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.