Equity Deals Could Heat Up Rivalries By David Sterman About this article: For longer-term investors, the current downturn presented a fairly neat investment thesis: Stronger players would hold their own, applying competitive pressure on weaker rivals in a bid to force them into liquidation. Yes, you did detect a bit of gloating from Ford when the company noted the extreme distress of its domestic rivals: "Their loss is our gain" were the words Ford would have liked to have uttered. Although it's likely too late for General Motors to forestall an entry into bankruptcy, that is precisely what is happening in many other industries, as companies seek to line up fresh equity and debt. And as more and more distressed firms tap fresh funding, the ability for the stronger players to deal a hammer blow to rivals becomes more remote. Said another way, the chance for stronger players to pick off rivals on the cheap has just become... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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