Since the merger, Alcatel-Lucent has reported six consecutive quarters of losses, and its market capitalization has been cut in half.
So, I guess we can count that one among the mergers that didn’t work out.
The New York Times revisits the collapse of IndyMac and at least makes this important point, if only in passing:
Analysts say the boom perpetuated an insatiable hunger for mortgages and a complacency about the risks they posed.
“The sales culture took over, and the sales division really drove the company,” said Paul J. Miller Jr., an analyst at Friedman, Billings, Ramsey.
For a much fuller account of what went on inside IndyMac, I recommend a report by the Center for Responsible Lending, which we discussed here: