1. SCALE. ETC.

2. Sluggish + Obese + Unimaginative + More Sluggish + More Obese + More Unimaginative + Even More Sluggish + Even More Obese + Even More Unimaginative = Nissan + Renault + GM = Innovative Challenger for Toyota????

3. “I don’t believe in economies of scale
“I don’t believe in economies of scale. You don’t get better by being bigger. You get worse.” —Dick Kovacevich/Wells Fargo/Forbes/08.04 (ROA: Wells, 1.7%; Citi, 1.5%; BofA, 1.3%; J.P. Morgan Chase, 0.9%)

4. Last week’s “Invincibles”: Dell Microsoft Big Pharma

5. Scale. “Microsoft’s Struggle With Scale” —Headline, FT, 09
Scale? “Microsoft’s Struggle With Scale” —Headline, FT, “Troubling Exits at Microsoft” —Cover Story, BW, “Too Big to Move Fast?” —Headline, BW,

6. New Economy?! Genentech09, Amgen09 > Merck09 (70K-3/394B-5)

7. Walmart + Home Depot + Walt Disney + Intel + Microsoft + Pfizer = Flat Source: “Blue Chip Blues”, Cover, BW,

8. More than $$$$ #1 R&D spending, last 25 years?

9. GM

10. Line Extensions: 86 percent of new products. 62 percent of revenues.
39 percent of profit. Source: Blue Ocean Strategy, Chan Kim and Renée Mauborgne

11. I HEREBY PLEDGE … When asked, “What are some examples of companies stepping up to today’s challenges?” … I will … NEVER AGAIN … offer an example of a Giant Company; instead I’ll refer to Cirque du Soleil, Donnelly’s Weatherstrip Service, 3K tanning salons, 10.6M women-owned businesses (or the typically female recipients of micro-lending) …* *There is more to Biz Life than Giant Cos … LOTS MORE … that “hidden 99%”

12. “While many people big oil finds with big companies, over the years about 80 percent of the oil found in the United States has been brought in by wildcatters such as Mr Findley, says Larry Nation, spokesman for the American Association of Petroleum Geologists.” —WSJ, “Wildcat Producer Sparks Oil Boom in Montana,”

13. Market Share, Anyone? — 240 industries: Market share leader is ROA leader % of the time — Profit /ROA leaders: “aggressively weed out customers who generate low returns” Source: Donald V. Potter, Wall Street Journal

14. Sluggish + Obese + Unimaginative + More Sluggish + More Obese + More Unimaginative + Even More Sluggish + Even More Obese + Even More Unimaginative = Nissan + Renault + GM = Innovative Challenger for Toyota????

15. ?????????????? Crappy Management (GM) + Arrogant-Overstretched Management (Carlos G) = Great Management

16. Bacteria. (“Left tail” limits. ) Productivity of small
Bacteria. (“Left tail” limits.) Productivity of small. Failure rate of Big Mergers. Failure rate of Big Companies. Terrorists. Galbraith vs Hayek.