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"The biggest thing that concerns me about when you have issues that ripple through the market is that we have a tendancy to overreact and panic and want to wait and see, and some of these market ripples become self-fulfilling prophecies," says [Kathleen Thomas]. "This cycle has nothing to do with the performances of the businesses in our space. People should take a much more measured approach on how they view it. Credit market problems have nothing to do with how the Pentons and Advanstars and Bobits of our market are performing. These companies remain as attractive as they ever have been. And the rationale for going after them is as strong as it's ever been. I'm going to remain optimistic about the market until I see real data that shows me otherwise. PE funds are still calling me to say they're open for business and looking for good deals." "If anything, there's a slight slowing down in the time taken to close transactions thanks to the banks, and the impact of their concerns," says [Richard Mead]. "Major transactions right now will probably struggle. The big deals, like VSS/Advanstar that closed earlier this year would take a bit more work at this point in time, and probably have some valuation repercussions. The medium and smaller businesses, the add-ons for strategics and private equity platforms, are in good supply and should transact within a normal time frame." "Some deals have been slowed down, and there have been busted transactions," says [David Levin]. "Vendors have to think twice before working with private equity on a transaction. Strategics can write a big check, and that could mean the difference between a successful sale and a busted auction, which is important." Levin notes that the crisis has not "yet trickled down to prices."