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Sponsored by Accenture Strategy. Several companies we studied show the value of programmatic M&A strategies. Walter Thompson Company for $566 million in 1987 and Ogilvy for $864 million in 1989 — big acquisitions that stretched the company’s balancesheet. In 2004 PCC was in a poor position.
Historical evidence shows that this rarely happens following a balancesheet recession. Such episodes often coincide with banking crises, which in turn tend to go hand in hand with much deeper recessions – balancesheet recessions – than those that characterise the average business cycle.
If China isn't going to expand its balancesheet anymore, that means it has to stop buying treasuries. When China stops expanding its balancesheet, that also means that the Chinese currency is going to appreciate, and China said it will allow that appreciation to happen. Now what does that mean?
The modern browser wars began in earnest in 2004, when Mozilla Firefox challenged Internet Explorer''s complete and utter market dominance, successfully growing from zero to several hundred million users in less than five years. The strategy seems to be working. According to Net Applications, Chrome was in use on 20.6
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