The "deal toy" indicator has turned bullish on
Wall Street.
Deal toys (also known as tombstones) are small, relatively
inexpensive and typically Lucite, trophies that serve as a way to commemorate a
firm's noteworthy deals. A company may order 20 more of them for the employees
involved in the deal. As a result, they're a pretty good gauge of deal
activity.
In Wall Street's heyday, before the financial crisis,
companies ordered "toys" with abandon — not even worrying about how
much they cost. During the financial crisis, the business dried up
dramatically. And Wall Street remained rattled last year with the "fiscal
cliff" at the end of 2012, when tax increases and spending cuts were set
to kick in. Now, with that crisis averted, business is starting to roar back.
At GDN, a Manhattan-based deal-toy maker, orders doubled in
the first two months of 2013 from the same period a year earlier, President and
CEO Kim Russo said. Once the fiscal
cliff passed, "it was like somebody just turned the water on and the deals
were pouring in," Russo told CNBC
More? Check out http://www.cnbc.com/id/100523251
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