He also said that Microsoft had an only "spotty" record with previous acquisitions.
The company also disclosed that it would write off $15 billion to $20 billion of good will from previous acquisitions.
Both developers have proved that with previous acquisitions.
McCaw still has $5 billion in debt from previous acquisitions.
The deal was twice as large as any previous corporate acquisition.
The results were hurt by charges related to two previous acquisitions, and from costs associated with layoffs and company restructuring.
They are now resorting to blackmailing other players in the industry to monetize some of their previous acquisitions.
After previous acquisitions, Columbia closed a number of hospitals in cities where it wound up with more than one.
Dr. Singer tended to buy a few pieces at a time, often selling previous acquisitions to finance new ones.
Smaller companies or companies not having made a previous acquisition will often ask us to act as intermediaries.