Saks Global's near bankruptcy is the result of risky dealmaking—and a neglect of business basics | Fortune

In today’s CEO Daily: Fortune‘s Phil Wahba chronicles the risky dealmaking behind Saks Global’s woes.

The big story: How will the U.S. get Venezuelan oil?

The markets: Down globally.

Plus: All the news and watercooler chat from Fortune.

Good morning. The current travails of Saks Global, the one-year-old holding company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, are a reminder that the key to success in business is often quite simple: focus on your core business, not on financial engineering.