DJ: What was the biggest challenge you faced last year?
Baxter: By far the greatest challenge was the sudden and dramatic change in the world credit markets on and after Sept. 15 and the consequent reduction in the amount of transactional activity of our clients. We dealt with it by realigning our resources to the changed market.
We reassigned people from areas where demand had declined to areas where we had more need. Part of it was the reduction in f...
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