Posted by Matt from CT on December 29, 2009 at 20:05:18 from (72.60.222.2):
In Reply to: O.T. Agway posted by alg on December 29, 2009 at 04:24:59:
Link has a 9 page PDF from Cornell answering your question :)
I think the short answer from reading that is the Executives liked to be the big men at cocktail parties, and ran a conglomerate business with a razor thin margin that kept taking on debt to buy more businesses they didn't understand, but they could convince a banker they knew how to pencil the loan to work out.
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