The Deal
Monday, November 23, 
9:45 am

— Oct. 5, 2009 —

Cover story

Faceoff

On one side, Judge Jed Rakoff, defending shareholders' right to know. On the other, the SEC, Bank of America and some serious regulators, defending their actions in desperate times. This clash has everything but a smoking gun.

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Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


Regulatory

Of politics and pay

How to fix executive compensation rules without breaking the companies.


Industry Insight

Before the honeymoon ends

Thinking differently about conflict resolution.


Judgment Call

The price of R&D

FAS 141(R): A new source of shareholder litigation against innovation-driven companies?



Table of contents

Analysis

The scion and the radio man

For decades, one of the heirs of the founder of Allen & Co. has been funding the machinations of a smooth-talking dealmaker. Now, as bankruptcy looms, the question arises: Was this just a rich man's whim or a con job?


Movers and Shakers

Bringing PE to banks

Edwin del Hierro sees private equity opportunities for banks.


Movers and Shakers

Reading the Morgan tea leaves

Investment bank's moves raise questions about those named, those not.


Deal Diary

Vinson & Elkins draws on Dell

Dell's $3.9 billion purchase of Perot Systems represents the culmination of several long relationships with the computer maker.


Deal Diary

Affiliated makes good copy with Xerox

Darwin Deason finally gets his agreement to sell Affiliated Computer Services.


Deal Diary

Sepracor comes close to a club deal

Buyout shops attempted to employ an old strategy to put money to work in the Sepracor deal before a strategic swallowed the pharma.


Deal Diary

Intrigue marks Adobe's Omniture purchase

Omniture's new CEO arrived only months after selling his prior company.


Regulatory

And now for the main course

A year after the worst financial meltdown since the 1920s, capital markets are giving the country's banks a vote of confidence. Whether that turns out to have been a good idea or not, the surge in capital raising, combined with a stream of bank seizures and generous terms offered by the government to acquirers, is prompting a consolidation wave that could rival any on record.


Regulatory

Making sausage

Financial overhaul legislation will almost certainly be less ambitious than its drafters at the Treasury Department had intended, with a cobbled-together look and a lack of ideological cleanliness. In other words, it will have a fighting chance of passage.


Deals

Service, please

Xerox and Dell strike big acquisitions to expand their offerings beyond mere hardware. Now they must make these deals work.


Postmortem

Lucky losses

The old Lehman assets have given Barclays Capital a boost. How far can it go?


View from the City

Back talk

Ministers fancy themselves as high-powered investors. Are they too generous to banks or too intrusive?


Capital Calls

New plumbing

KKR has a long history with PIPEs, but it offered a few new twists with its stake in Kodak. It remains to be seen whether Kodak-style debt deals become the norm in PIPEs.


Dealmakers

Fast forward

Mohamad Ali has done plenty of deals, but helping transform Avaya ahead of an anticipated IPO is a new experience.


Dealmakers

Lost in the cloud

Like many new technologies, cloud computing generates hype, derision and, for some, revenue. How big is it going to get, and when will IT departments view it as a truly viable option?


Arbitrage

Risk arbitrage: Oct. 5, 2009

CF Industries steps up its plan to acquire Terra by taking a stake in the company in the open market.


Editor's Note

Editor's letter: Oct. 5, 2009

We look at Keynes and his lost age and wonder: Who lived a richer life?


Dealsense

America's top model

There's more than one way to cap your pommel. Find four investors willing to give you $250 million each so you have the time to figure out Twitter's business model.


Media Maneuvers

Svengali returns

First the media cheered a merger frenzy. Then it condemned M&A as a con job. Has it dawned on anyone that both notions might be wrong?


Safe Harbor

All too common

In Trados, Delaware signals that directors should think twice about striking a deal that leaves common shareholders with nothing.


Analysis

Last rites

As the Lehman remembrance festival ends, some former insiders offer thoughts on Dick Fuld, Henry Paulson and what went wrong.


Backstory

Sympathy for the mogul

A new book reveals the failings of the media giants, but its eager revisionism could use some updating.


Rules of the Road

An undiscovered country

Jonathan Leibowitz's call to expand a rarely used provision of the FTC Act sparks alarm among business leaders.


Analysis

Coming to America

Five questions you need to ask before investing in the U.S.


Industry Insight

Open source

In the nine years since its adoption by the SEC, Reg FD enforcement has offered many lessons.


Judgment Call

Power to the institutions

CEOs must accept the role of an active, informed board — or else be forced to by institutional investors.


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