Word: merger
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...According to The New York Times, "The deal would not only create a pharmaceutical behemoth but would be a rarity in the current financial tumult: a big acquisition that is not a desperate merger of two banks orchestrated by the government...
...large number of other industries are facing similar problems. The retail industry is the most obvious. Beyond that, airlines are back in trouble. All of the merger plans that carriers were looking at last summer can be dusted off. Traffic is falling sharply as consumers and businesses cut back on travel. In a related sector, the hospitality industry is in it worst period in decades. Some hotels are nearly empty...
...business and government organizations, taking care of your own is basic protocol. Following every merger - even a distressed one, and Merrill was clearly the weaker entity - bosses on both sides start building the trench lines to protect as many of their people as possible. Are sacrifices made? Sure, that's expected, but you don't give up your guys easily. (See the worst business deals...
...Pfizer is now in merger negotiations with its one of its big pharm peers, Wyeth (WYE). The transaction would be done as a $60 billion buyout of Wyeth. According to The Wall Street Journal, "If completed, a deal could create billions in cost savings through the combination of back-office operations, research and development, sales and manufacturing...
...know the rest of that story. Citi is now on life support, owing its continued survival to $45 billion--so far--in federal aid. Its beleaguered top-management team is trying to undo most of the 1998 merger with Travelers. And the new Obama Administration is faced with the somewhat conflicting priorities of trying to avert a depression, nurse Citi and other banks back to health and prevent a repeat of the excesses that led to today's troubles--all while taking care that the U.S. government doesn't dig its own financial grave in the process...