How managers can dam up credit flow

An abundance of loans can create a debt overhang that causes lenders to pull back—and the ensuing credit crunch can make it harder for businesses to grow, or even to repay their debts.

Why Merton Miller remains misunderstood

Merton H. Miller liked to tell a joke about Yogi Berra, the famous baseball catcher. Berra once told his trainer that he was particularly hungry, and he instructed him to cut his pizza into 12 pieces instead of six.