“A Natural Disaster”

Just when you had gotten over your addiction to daily tracking polls, CNN goes and releases a new poll which finds that 79% of Americans approve of Obama’s handling of the transition.   …

Capano Finally Gives Up.

Convicted murderer Tom Capano has instructed his attorney to let the deadline to file an appeal with the U.S. Supreme Court pass without any action. That means his 1999 conviction…

What Republicans Like: The Down-Low

The Down-Low first originated in the African-American community to name the activity of married black men who have sexual relationships with the other men in a hidden, clandestine way. The…

Deep Thought – Memories

Even More Memories: Remember about a month ago when we gave Bank of America billions so they could keep lending money to businesses and they stopped lending money anyway? Fool…

Requiem for Old School Capitalism

Winthrop Smith — son of one of the original partners of Merrill Lynch Pearce Fenner and Smith — gave an occasionally angry eulogy for Merrill Lynch at the shareholders meeting that was to approve ML being sold to Bank of America:

Today did not have to come. In the past it was Merrill Lynch that came to the rescue of Goodbody, White Weld and Becker. It was Merrill Lynch that strong and successful firms like Fenner & Beane, CJ Devine, Smith New Court, DSP in India, Midland Walwyn in Canada and Mercury Asset Management wanted to join. Merrill always thrived in times of turmoil and grew market share. Today did not have to come.

Today is not the result of the sub-prime mess or synthetic CDOs. They are the symptoms. This is the story of failed leadership and the failure of a Board of Directors to understand what was happening to this great company, and its failure to take action soon enough.

I stand here today and say shame to both the current as well as the former Directors who allowed this former CEO to wreak havoc on this great company.
Shame on them for allowing this former CEO to consciously and openly disparage Mother Merrill, throw our founding principles down a flight of stairs and tear out the soul of the firm.

Star Wars on Christmas.

Luckily, I was only 2 years old in 1978, and fortunately did not witness the Star Wars Holiday Special, or if I did, I don't remember it.   I wonder, though,…

Irony…example # 2,300,204.5B

The U.S. Army is looking to private contractors to provide armed security guards to protect Forward Operating Bases in seven provinces in southern Afghanistan.