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Research Shows That Smaller M&A Deals Work Out Better

Harvard Business

Walter Thompson Company for $566 million in 1987 and Ogilvy for $864 million in 1989 — big acquisitions that stretched the company’s balance sheet. In 2004 PCC was in a poor position. After that, however, WPP practiced programmatic M&A, turning it into a strong muscle.

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BIS Slams the Fed; Ridiculous Question of the Day: "Is The Fed Going To Attempt A Controlled Collapse?"

MishTalk

This has been labelled the “second phase of global liquidity”, to differentiate it from the pre-crisis phase, which was largely centred on banks expanding their cross-border operations. Historical evidence shows that this rarely happens following a balance sheet recession.