Hints and tips:
When being one of America’s biggest banks becomes a millstone
...It’s not something that can be A-B tested,” says David Millstone, co-chief executive of Standard Industries, a private industrial conglomerate....
...Buying PD Ports for more than £1.5bn would risk turning it into a “millstone” around the company’s neck, according to a person familiar with Peel Port’s strategy....
...A person close to Peel Ports said any deal valuing PD Ports at between £1.5bn and £2bn would risk becoming a “millstone” around the group’s neck, and expressed wariness at the implications of the lawsuit...
...“Those factors are hindrances to progressing with the opportunity,” they said, and a deal valuing the company between £1.5bn and £2bn would risk becoming a “millstone” around the neck of the ports group....
...Instead, its two big acquisitions — Time Warner and DirecTV in 2014 for $67bn — proved to be millstones as first Netflix and now Disney came to dominate digital entertainment....
...Mr Millstone says....
As more people shop online, physical stores are becoming a millstone for brands
...A version of this article was first published by the Nikkei Asian Review on January 19. ©2018 Nikkei Inc. All rights reserved....
...David Millstone and David Winter, Standard’s co-chief executives, wrote to Braas’s chairman on December 5, and said: “The proposed actions have no business purpose, other than to frustrate the offer.”...
...Sharp’s weak performance, debts and political baggage may prove a millstone as well. Email the Lex team at lex@ft.com...
...For chief executives who head a company whose performance is supposed to be a guide to the state of the market, it is more like wearing a millstone than a bell....
...“That £55 price tag is going to be like a millstone round their necks,” says one person close to Pfizer....
...(WSJ) COMMENT ETC Strip private banks of their power to create money (Financial Times, Wolf) American state-backed mortgages are a $5tn millstone (Financial Times, Tett) The moment is right for housing...
...Oracle’s $8bn millstone, Sun Microsystems, has brought persistent double-digit revenue declines. Email the Lex team in confidence at lex@ft.com...
...While a weaker currency can be a blessing for exporters that have dollar-based revenues and costs in local currencies, it can be a millstone round the necks of those that don’t....
...These assets became costly, underused millstones when grain fell short. Now, the prospect of higher grain stocks will put them to the test....
...For utility groups such as RWE, some networks have become a millstone at a time when the companies are short of capital required to invest in new energy sources....
...The gauge’s exposures to natural resources and emerging markets have proven millstones more recently....
...Like Mr Clarke, though, Mr Roman can have no impact on the fortunes of AHL, Man’s flagship fund, once its source of huge profits, now a millstone....
...Another analyst referred to the phonemaker as Google’s “Motorola millstone”....
...Nasdaq 3,000 may sound like a milestone for technology bulls, but it could well be a millstone later this year. michael.mackenzie@ft.com...
...Tate is all the better for having sold last year the EU sugar business that was both a hallmark and a millstone....
...In other words, covered bonds can act as a giant asset-gobbling millstone around banks’ necks, right when you wouldn’t want one, as well as an additional source of diversified post-crisis funding....
...But it would be ironic if Mr Fernandes’ moment of recognition turned out to be a millstone round his neck. This is not an inconsiderable risk....
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