Philip Whiteley's Blog

January 18, 2010

Filed under: Uncategorized — felipewh @ 5:34 pm

.

Advertisements

3 Comments »

  1. Spot on Phil. The takeover mania is fueled by a heady mix of cheap money, the result of quantitative easing, advisers need for fees and bonuses and the ego and vanity of executives such as Kraft’s Irene Rosenfeld. In today’s FT.com (25th Jan 2010) Peter Voser, head of Shell, ‘cast doubt on the merit of corporate takeovers, saying “those who buy normally lose”’. He’s right for the reasons you outline Phil.

    Comment by Chris Sands COA Solutions — January 25, 2010 @ 11:17 am | Reply

  2. Its all about ego’s for sure Phil. The M&A arena is the holy grail as its seen as the ultimate in talented business doing, where all the ‘big swinging dicks’ are. The journalists want in, and they know they wont get in if they criticise.

    Anyone who wants to know what was going on behind the scenes at KRAFT/Cadbury in the run up to the ill conceived (IMHO) deal, and to understand the fantasy of ‘integration savings’ should read ‘Barbarians at the Gate: The Fall of RJR Nabisco’.

    I was once fortunate to meet and talk such subjects with Greg Dyke and he recommended it to me. Its one of the best books i have ever read and exposes the vile underbelly of business.

    Considering its now 20 years old, nothing has really changed. No wonder we are in the smelly stuff up to our ears!

    Comment by garethmjones — January 25, 2010 @ 12:18 pm | Reply

  3. Chris, Gareth – thanks for your comments, and thanks for the book recommendation. It’s almost as if there are two worlds: the one of management theory and Harvard Business Review where this stuff is known; and the parallel world of the business pages where it’s all about bids and share price. More positively, this thread has been picked up by a columnist for the US site Daily Finance, which is widely read, (www.dailyfinance.com) so I’ll let you know as/when this is published.

    Comment by felipewh — January 25, 2010 @ 1:43 pm | Reply


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: