Bank of America keeping Merrill CEO on

Filed in National by on October 6, 2008

Well, it must be nice. The CEO of Merrill ran his ship into the ground, but that’s ok, his pals over at Bank of America don’t mind that at all. He still will get a nice cushy job over at B of A. it is my understanding he won’t be runnning the same shop as the one that ruined his company and a few thousand employees lives.

No, he will get another area to possibly ruin….

Looks like they will have to lay off some more people to keep that Bastard on the pay roll.

• Stanley Neal, who steered Merrill Lynch (NYSE:MER) into financial collapse before being taken over by Bank of America, was given a package of $160 million when he left his post last year; That package makes current CEO John Thain was paid $17 million in salary, bonuses and stock options in 2007 look like a bargain.

• Bank of America (NYSE:BAC) is acquiring Merrill. BofA CEO Kenneth Davis brought home $25 million in 2007.

About the Author ()

hiding in the open

Comments (6)

Trackback URL | Comments RSS Feed

  1. anon says:

    You are just envious of success.

  2. Unstable Isotope says:

    When are we going to see some of these guys in jail instead of in cushy new jobs with million dollar salaries? We need Eliot Spitzer!

  3. pandora says:

    Ha! Screw a woman other than your wife and your political career is over. Screw an entire country and receive a promotion. Nice.

  4. Unstable Isotope says:

    That’s not true if you’re a Republican. David Vitter got a standing O from the Republican caucus when he returned after admitting an affair with a prostitute.

  5. h. says:

    The ovation was because the affair was with a woman.

  6. Phantom says:

    This is part of the Bush plan for leave no millionaire behind. I mean it is not like he could fend for himself after destroying the company that paid his huge salary. What do you expect, consequences for actions? That is not part of the republithug motto of “Bail out everyone except the little guy”.