Money. It's so last year
New York, NY (Vocus) December 17, 2008
The Deal today unveils its annual "Year in Review" issue offering a range of essays that weigh in on the continuing economic crisis, financial trends, key players and politics that defined the deal economy in 2008.
"Money. It's so last year" editor-in-chief Robert Teitelman writes in his introduction to the year-end package. He goes on to recite the verities that we once believed true but which have since blown away, from deregulation to risk management.
The "Year in review 2008" issue presents 18 essays, a Deal Life column on the how the financial crisis has tempered the overheated contemporary art market, plus the annual year-ender Deal Sense column by The Daily Deal editor Jeffrey Kanige, which takes a tongue and cheek look at the year to come.
As he has for a number of years now, well-known illustrator Arnold Roth depicts many of the characters, from Barack Obama to Henry Paulson, that starred in this tumultuous period in American financial history on The Deal's gatefold cover.
The following essays by The Deal's editors and writers collectively capture the core events, challenges, struggles, scandals and successes that made 2008 an unforgettable year:
Money: It's So Last Year, by Robert Teitelman, opens the package with some observations on the causes of the financial meltdown.
Demolition Derby, by Lou Whiteman, explains why the General Motors debacle has ended the company's days as an industrial powerhouse.
Lost Horizons, By Vyvyan Tenorio, reveals the some of the strategies major institutional investors are taking to offset their big allocations to alternative assets.
Insull's Ghost, by Claire Poole, describes how the economic downturn could force utility companies to consolidate.
Saving Lehman, by Matt Miller, assesses the collapse of America's fourth largest investment bank, describes what happened in the days surrounding its fall and portends what may have been different if Lehman had been saved.
Change Comes to Chancery, by David Marcus, describes the many appointment changes underway in the Delaware courts, namely Vice Chancellor Leo E. Strine's potential switch to a Washington post.
Why They Call it Risk Arb, by Scott Stuart, provides observations about where the risk arb hedge funds have been and where they could be heading with wide spreads and historic opportunities.
Happy Talk, by Paul Whitefield, delves into the veiled theories behind France's new sovereign wealth fund, designed to aid access to credit for small and medium-sized industry.
No Protection, by David Carey reviews the rocky year for private equity .
Less Brave New World, by Vipal Monga, contemplates the next era of Wall Street with the recent demise of five investment banks in 2008.
A Protean Partner, by Kenneth Klee, predicts the implications corporations will see from the many changes that lie ahead for the financial sector.
Redefining the Blob, by Chris Nolter, takes aim at the credit rating agencies, institutions that painted a rosy view of troubled securities and served as starting point of the economic crisis, and what's being done to change the way they operate in Washington.
Be careful What You Wish for, by Jonathan Braude, recounts how European bank CEOs called for state aid and had second thoughts when the strings were attached.
Lost in Transition, by Olaf de Senerpont Domis, gives analysis on the problems of mature tech companies that have not kept up with tech trends and the realities they face of either "change or die."
The Last Days of Moguls, by Richard Morgan, explains how consumers increasing use of digital media is revising the hierarchy of the media world and its moguls.
Fire in the Hole, by Alain Sherter, tells the many ways the financial crisis is seeping over to venture capital community as firms' investments have dropped to levels not seen since 2000.
Not Even a Trickle, by Nathaniel Baker, writes how middle market transactions have fallen off sharply and reports deals may not see a bump until consumer credit and spending habits resume.
Let's Look at the Numbers, by Bill McConnell, gives a detailed overview of where the several trillion dollars worth of commitments made by the Treasury Department and the programs Congress has approved have gone or are going.
The Year in Review is also featured on the magazine's online hub at: http://www.thedeal.com/newsweekly/dealmaker.php?slideshow=40.
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