Tuesday, December 9, 2008
Merrill's Thain seeking 2008 bonus of $10 million: report
Merrill Lynch & Co Chief Executive John Thain has asked for a $10 million dollars annual bonus, Merrill Lynch's compesnation commitee has not responded to Thain's request but likely to reject it. Merrill Lynch almost went under until it merged with the bank of America Corp. an hour before Lehman Brothers Holdings Inc filed for bankruptcy. Thain's calm to the $10 million is that he allowed the merger and saved the company from a much larger loss.
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3 comments:
I would say he deserves some bonus but not $10 million as requested. That number is outrageous considering the situation we are in right now. Or else he could play cool like the Goldman Sach's execs who rejected all of their bonuses.
John THain Has given up his bonus after asking for a $10 million bonus which was sneered at.
http://hosted.ap.org/dynamic/stories/W/WALL_STREET_BONUSES?SITE=1010WINS&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2008-12-08-20-32-09
This is a bold move on Thain's part. Merrill is not doing very well right now in the market and asking for 10 million dollars in dire times is a bold move. I think that he should reconsider this for the better of his company. CEO's are getting too greedy.
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