Questions abound over the impact of Morgan Stanley CEO Philip Purcell's recent strategic reversal of his opposition to a spin-off of the firm's Discover credit-card unit.
Will it delay the arrival of the "tipping point" - at which time his supportive board folds under pressure from the dissident group led by ex-president Robert Scott and cuts bait? The media consensus seems to be that it might buy Purcell some time, but the firm can't be managed with this ongoing turmoil. And without solid management, it will be hard for Purcell to stay on top.
Most frequent messages
1. Purcell is under extreme pressure to boost the company's lagging stock price
2. A dissident group of former executives accuses Purcell of mismanagement
3. Several traders and top investment bankers have resigned
4. The departures raise questions about whether the firm can remain independent
5. The emergence of a white knight deal for the entire firm is unlikely
Based on analysis of major-market news coverage appearing from March 1-April 20, 2005
Evaluation and analysis by Delahaye - a division of Bacon's Information.