Rail mega-deal holds ticket to runaway M&A train

December 29, 2015

Canadian Pacific’s $28 bln bid for Norfolk Southern involves an industrial buyer facing low growth and an aggressive investor. The offer is unsolicited, cross-border and legally messy. After a record year of mergers, this one transaction foretells much of what to expect in 2016.

The poorly performing, must-have 2012 investment

December 22, 2011

It’s hedge funds. The typical one has lost 4 pct so far in 2011, lagging stocks and bonds. Investors aren’t deterred, though. They want 8 pct annual returns but face low debt yields and dim prospects for stocks. If fundamentals again guide markets, hedgies could bridge the gap.

Soft power is priceless – and scarce

November 19, 2012

When the term was coined in 1990, the U.S. way of life still had broad appeal. But America is now equally distrusted and emulated. No nation has filled the soft power gap. Japan and the UK are powerless despite a new study that says otherwise, and China offers only soft weakness.