Bankrupt

Sorry for going offtrack, but could not help. From the day I started preparing for my B School Interviews in 2003, I was fascinated by the world of M&A's (Mergers & Acquisitions). There was a surge in M&A since 2003 an euphoria, what I call an urge to merge. I remember feeling elated and excited on reading the frenetic pace with which M&A activities were on, Sony buys MGM, AOL buys Time Warner. It made me proud to hear Ranbaxy buying a host of foreign drug companies and Tata buying Tetley and ofcourse the JLR (Jaguar Land Rover) deal was a crowning moment of India Inc. I would keep track of the different multi billion dollar deals, I would marvel at the way cash was produced on demand. As my interest in this area kept waxing, I started reading the different ways in which organizations would fund their acquisitions. It also brought me to a very interesting book by the name "Barbarians at the Gate" which detailed how RJR Nabisco was destroyed by a few greedy managers.
Today there is a lot of destruction in value; GM files for Bankruptcy, Lehman Brothers files for Bankruptcy, Meril lynch may be acquired. It is surprising that times change so fast. Lehman brothers, the favored destination for all the budding i bankers. The organization which only takes the best and the brightest of the Management graduates has failed to manage itself. Is it the subprime crisis, Is it an inability to weigh the risks? I am not sure, The euphoria has melted down and the only lesson that I take from this episode is to keep your feet firm on the ground as you try to reach for the stars, but do reach for the stars...