But the poor return on capital derives not from the lack of hits, but from the knee-deep pile of failures on the cutting-room floor.

FORBES: Are We The Problem? The Role Of Poor Decision-Making In Stifling Drug Development

It talks of more cost-cutting, but not if it threatens long-term deep mining of rich ores.

ECONOMIST: Tempers fray as a hostile bid rolls on

Cutting spending is, of course. a natural reaction to a deep recession caused by a debt-fueled binge.

WSJ: Signs Consumers Have Changed Spending Behavior