Peak Performances
Forbes.com - Wed Mar 17, 6:46 PM ET J.P. Morgan Chase's plan to buy Bank One has won lots of praise. The price, $58 billion, was a mere 14% above the target's market value. But we can't help but notice that J.P. Morgan boss William Harrison has an uncanny tendency to buy companies when their underlying businesses are near their peak. Now he's buying a big consumer lender. How long will that business stay hot given the rise in bankruptcies? |