"The frugal times forced [British Air] to focus on being profitable rather than big." —Economist, 04.28.07
"Despite a decade of banking mergers, there is no evidence that big banks are any more efficient or profitable than their smaller rivals."—Financial Times, on possible Barclays-ABN Amro merger (subscription required)
"When it comes to asking the stock market whether bigger banks are better, the current answer is a resounding 'no.'"—Citigroup analysis, 2006
Dick Kovacevich, Wells Fargo: "You don't get better by being bigger. You get worse."
NB: Saving grace, per TP, is that Royal Bank of Scotland counteroffer will likely result in breaking up ABN Amro.
#2: So why do we keep doing the same stupid stuff over and over and over?
Before blogging became all the rage, Tom was posting book reviews and Observations (essentially early blog posts) to this site. You can find the archives below.
What we're talking about
on the front page.