even as i nod along about the many ills of consolidation, i found the narrative not well-formed. it starts with a principle-agent type problem, and glides into a coordination type problem and lands somewhere around locus of control. these are all well-known/studied issues in management (and taught in mba programs). a little more structure and explicit elucidation of these issues would have made it better.

i do heartily agree with the concluding paragraph that the general public seems largely unaware of these issues, to our collective detriment.