The Deal
Tuesday, November 24, 
7:37 am

— Sept. 14, 2009 —

Cover story

Ten years after

The Daily Deal launched on Sept. 15, 1999, as an experiment in covering what we (hopefully) called the deal economy. Now, two bubbles and a terrorist attack later, we're still at it.

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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

Deals

Nice work if you can get it

As deal volumes surged, so did the ability of corporations to handle M&A transactions all by themselves. What's an adviser to do?


Private Equity

Between reality and the mirage

Some of the most sophisticated minds in finance operate in private equity. Still, over the past decades, they've been drawn to overheated markets as easily as your Average Joe.


Private Equity

Paul Levy on private equity's fee habit

The JLL Partners managing director Paul Levy says PE is now dominated by assets under management.


Venture Capital

Bubble, trouble, toil and muddle

In the late '90s, venture capital generated extraordinary returns on high-risk companies. Then came the collapse, and the industry has struggled to find its way since.


Venture Capital

NEA and the power of perseverance

Richard Kramlich believes his firm's style of investing is the key to its success.


Bankruptcy

From liquidity to liquidation

Bankruptcy has undergone a rapid evolution in the past decade, shaped by a financial system of tooth-rattling extremes.


Co-founder Tony Alvarez says his firm was 'in the right place at the right time' when Lehman came calling the night before it filed for bankruptcy.


The veteran Kirkland & Ellis bankruptcy lawyer says 'we've never seen a cycle like this before.'


Investment bankers Henry Miller and Kenneth Buckfire say preperation is the best way to avoid the worst-case scenario.


Deal Diary

Marvel advisers are no comics

Some advisers on Disney's $4 billion acquisition of Marvel have long ties to the buyer and seller.


Deal Diary

Baker Hughes lawyers beat the clock

Akin Gump lawyers were up against it to close the Baker Hughes transaction.


Deal Diary

Flaum's tech team retains eBay

Keith Flaum and other Cooley expatriates represent eBay for Dewey & LeBoeuf in the Skype deal.


Movers and Shakers

About Schmidt

Asarco judge Richard S. Schmidt likes dealing with different issues, plays keyboard in a rock band and stays in shape.


Deals

Marvel's logic

Disney paid a hefty premium for the comic book and movie house. But it's a complex deal with about 5,000 potential cash-flow-rich characters.


Regulatory

Pulp fiction

In the wake of the last banking crisis, regulators won a tough-sounding power, but "prompt corrective action" hasn't lived up to its name.


Deals

Lehman's European wrangle

London administrator PricewaterhouseCoopers refuses to cooperate with its international counterparts.


View from the City

Sweet tooth

Quaker George Cadbury was a rare beacon of industrial decency in Victorian Britain. His namesake company is vulnerable to an unwelcome bid from Kraft.


Analysis

In praise of failure

Spare a thought for all the dealmakers who have messed up over the years — and in so doing, helped to keep you out of similar trouble.


Venture Capital

Pocketful of Silver

Foundation Capital believes it has a rare winner in smart grid company Silver Spring Networks.


Follow the Money

Jazzed on junk

Issuance of high-yield is rising. That's good, but refinancings still outstrip new money by a wide margin.


Arbitrage

Risk arbitrage: Sept. 14, 2009

A look at the spreads of CF Industries-Agrium and Verenex Energy-Libyan National.


Editor's Note

Editor's note: Sept. 14, 2009

Once again, my wayward friends, we are going through one of those paranoid episodes Richard Hofsteader described so acutely.


Dealsense

Don't look back

The Daily Deal's story begins long before the publication of the first issue on Sept. 15, 1999.


Media Maneuvers

Irresistible glam

For 10 years, we have watched the media swing wildly in its view of Wall Street. With Oliver Stone back in town, it's clear nothing ever changes.


Backstory

Family's value

Why did Lamar Advertising's stock suddenly shoot up? Check the gussied-up balance sheet.


Safe Harbor

Life after Lyondell

In two decisions this summer, Chancery grappled with a higher court's ruling in a controversial buyout case.


Rules of the Road

Fuzzy logic

American dealmakers hope for a bit more certainty in U.K. merger review guidelines.


Analysis

By the numbers

An accountant's perspective on the M&A outlook.


Industry Insight

Dealer's choice

Forecasting the short-term outlook for M&A transactions.


Judgment Call

Rethinking dealcraft

Wait for a return to the boom times for cookie-cutter deal production factories and you'll end up in a different line of work.


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