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Feb 29, 1996

Flip-Flop

Case in point

Case One: You run a big conglomerate that isn't doing as well as it once did, partly because it seems to have lost its touch, partly because conglomerates are out of fashion - again. So you decide to split the group into its constituent parts. After all, that's what the market likes these days. To your great consternation, however, the market is unconvinced, demands all sorts of as yet unworked-out details, and marks your stock price down. Case Two: You run a big successful industrial holding

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