Comment Wow! An honest investment banker!?! (Score 1) 307
When two companies begin negotiations for one to buy the other, each has its own investment banker. The bankers only make money if the deal goes through. Even if the bankers know that the deal is stupid (like Time-Warner and AOL), they'll push it no matter how much value they know they'll destroy because otherwise, they get nothing. Even companies themselves will sometimes go through with a transaction that everyone begins to realize is bad the deeper they get into it, if only because they already put so much time and sunk costs into it. They ignore the rule: "if you're in a hole, stop digging" because they protest, "but we've already dug so much, let's dig ourselves a little deeper!"
Who was Apple's investment banker who effectively killed the deal? That's who I'd want to hire as my own banker if I ever had to sell my company or buy another one.