The Jordan, Edmiston Group put on a good show Thursday at the Four Seasons with their Annual JEGI Business Information Forum. The highlight was Paul Steiger, Editor-In-Chief of the Wall Street Journal, moderating a panel on the State of the Capital Markets. Responding to a question from Wilma Jordan about the election, Steiger said that Bush and Rove ran a fantastic campaign and that even the Kerry people acknowledged that for every move they made, the Bush team had a response. Two memorable quotes: “Bush is just so energized by people…much more energized than he is by the issues.” “What are the democrats happy about? They don’t have to run against Bush again.”
Quick summary of the conference:
Panel 1 was “Innovating for Growth: How Large Companies are Responding to Market Conditions.” Everyone (execs from Thomson, McGraw-Hill, McKinsey and Reuters) agreed – acquisitions are critical.
Panel 2 was “Fueling Growth: The State of the Capital Markets.” Bottom line – there’s too much money in every class – VC, private equity, debt – chasing too few deals. Multiples are going up.
Panel 3 was “New Information Business Models.” Good panel moderated by Lee Greenhouse but really, there are not too many new business models. I am interested in checking out one of the companies whose CEO was on the panel – Pharmetrics.
Ted Meisel, CEO of Overture, was the keynote; it was too much of a sales pitch. Joe Mansueto of Morningstar closed the conference; it was a nice talk about a great company.