TABLE OF CONTENTS Murphy's Law: "If anything can go wrong, it will."
O'Toole's Commentary on Murphy's Law: "Murphy was an optimist."
Watch the evening news or read the business section of any major city newspaper and it's not hard to be swept up in merger mania. Chief executive officers (CEOs) confidently communicate their visions for the combined businesses to assure shareholders that the transaction is in their best interests. The infectious camaraderie of the CEOs of the companies involved in the transaction radiates from the podium as they, sometimes almost giddily, announce the emergence of the latest behemoth. The CEOs seem to revel in the limelight, as they are asked how it feels to be running the largest firm in the industry. Egos and flamboyant personalities often dominate the stage. The CEOs are courting the support of their shareholders, Wall Street analysts, employees, and customers. They promise that projected synergies will be realized, customers will benefit from higher product quality and an expanded product offering, jobs in the long run will be more secure, and investors will prosper.
The press loves the big story. It gives them an opportunity to once again give mainstream America a glimpse of the arcane world of high finance. Wall Street, never inclined to ignore an oncoming gravy train, nods approvingly. The surrealistic surroundings often seem more appropriate for a Hollywood movie set than for the trappings of a...
