This generally dismal summer for business has produced a few teachable moments — if only we are willing to pay attention.

In fact, most experts would tell you that there is more to be learned from failure than from success. Here are three management lessons, ripped from the headlines in recent weeks.

Lesson No. 1: Something like 70 percent of all mergers are not successful — but it can take decades before you really find out. Consider, then, the much-ballyhooed BP-Arco hookup of 1999.

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