A year ago, I
- We saw a 3.25% yield on the 10-year Treasury note. There was further deterioration in AOL's ( TWX) subscriber base, and Steve Case was ousted. The European economy was moribund during 2003's first half. The New Jersey Nets basketball team enjoyed surprising success. General Electric ( GE) had lower earnings guidance. Democratic aspirant Al Gore bowed out of the presidential race. There were no major terrorist acts in the U.S. U.N. inspectors found no evidence of a weapon buildup in Iraq.
- Merck ( MRK) acquires Schering-Plough ( SGP). Fidelity acquires Janus ( JNS). News Corp. ( NWS) and MGM Mirage ( MGG) acquire a loss-ridden DreamWorks. J.P. Morgan ( JPM) acquires Countrywide Credit. Fifth Third Banks ( FITB) acquires National Commerce Financial ( NCF). Wachovia ( WB) acquires First Tennessee ( FTN). GrupoTelevisa ( TV) acquires Univision ( UVN). Wells Fargo ( WFC) acquires Capital One ( COF). Tyco ( TYC) acquires Toll Brothers ( TOL). Citigroup ( C) acquires Alliance Capital ( AC). Polo Ralph Lauren ( RL) is acquired in a leveraged buyout. Nike ( NKE) acquires Gap Stores ( GPS).