Morningstar to Big Banks: Pound Sand

The Google IPO has given at least one company the courage to stand up to the Big Banks. Morningstar has selected WR Hambrecht over Morgan Stanley to be their lead underwriter. From Bizweek:

Morningstar is a marquee deal for Hambrecht, one that could potentially bring the auction process into the mainstream. Of course, Hambrecht may not want to start celebrating just yet. Wall Street will still have the last word

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