Monday, March 30, 2009

Proxy vulture firms: a sad sign of the New American Economy?

As a sign of the times (or, the Times), Thursday's special NYTimes Dealbook section featured only four (4) ads, all full page. Very notably, three of them were from firms specializing in the business of protecting negligent boards from proxy fights. Hmmmmm.

On page three: Mackenzie Partners: "Have the winning team on your side!"
Page five: Georgeson: "What forces could crash down on your deal?"
Page seven: Innisfree: ""Still trying harder"

(As an aside, all three ads are about as poor creative executions as I've ever seen - clumsy, ugly, sophomoric, don't communicate, poorly branded, etc)

Anyhooooo, this would seem to signal that:
  1. The Times is desperate for any ad revenue from anyone
  2. Proxy vultures sense a huge bull market in protecting incompetent Boards as outraged investors demand action.

#1 above is exhibit 500,000 in the decline of American media

#2 above is exhibit number five million in the decline of American capitalism

Alas and alack

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