Merging Resurging

In this week's USNews.com article on the current resurgence of the corporate merger, Jodie T. Allen quotes Tom as the "naysayer." Tom's reaction to last fall's merger and acquisition fever was a warning that merger is too often "what you do when you run out of other ideas ... At best, 50 percent work, and the pessimists say 20 percent." Tom does praise the "carefully built conglomerates" that benefit both stockholders and consumers, but cites the motivation for agglomeration in one word: "Ego."