Gerstner On Why Investment Bankers Are Bad
from the stay-away-from-them dept
Like any big time CEO Lou Gerstner apparently felt it was time to write a book about the secret of his success. The book, Who Says Elephants Can't Dance?, apparently reveals a number of deals Gerstner decided not to make. He says they almost bought SAP, and also looked at buying Compaq, MCI, Nortel and others but decided against all of them. He points out that mergers usually fail, and apparently has a great dislike for investment bankers, saying that they try to make money by convincing companies to do expensive mergers, and then make even more money when they have to help spin off those same companies again a few years down the road. He claims that none of IBM's acquisitions were brought to them by an investment banker.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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