John Thain

John Thain

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BofA, execs owe "billions" in lawsuit, Ohio says

NEW YORK (Reuters) - Investors in a class-action lawsuit against Bank of America Corp <BAC.N> over the Merrill Lynch & Co takeover are trying to collect "billions of dollars" in damages, Ohio's attorney general said on Monday. Attorney General Richard Cordray spoke after filing a 155-page complaint in Manhattan federal court that accuses Bank of America of fraudulently concealing Merrill's soaring losses even as it let Merrill award $3.6 billion of bonuses in 2008. Cordray is leading the case on behalf of five pension funds. Investors also want to recover from Bank of America Chief Executive Kenneth Lewis, Chief Financial Officer Joe Price, Chief ... Read Full Story

U.S. judge wary of BofA bonus settlement with SEC

NEW YORK (Reuters) - A federal judge criticized on Monday a proposed settlement between the U.S. Securities and Exchange Commission and Bank of America Corp <BAC.N> over the payment of bonuses to Merrill Lynch & Co executives. The largest U.S. bank agreed on August 3 to pay $33 million to resolve an SEC civil lawsuit accusing it of misleading shareholders by not disclosing it authorized the payment of up to $5.8 billion of bonuses to Merrill employees. About $3.6 billion was ultimately awarded and the bank did not admit wrongdoing. Judge Jed Rakoff of the federal court in Manhattan put the settlement on hold, ... Read Full Story

BoA to pay 33 mln dlrs to settle Merrill accusations

From:   www.afp.com
Bank of America agreed to pay 33 million dollars to settle a government lawsuit alleging it deceived shareholders on bonuses at Merrill Lynch bonuses as it was buying the nearly bankrupt firm, officials said Monday. The US Securities and Exchange Commission said it sued Bank of America in a New York federal court "for misleading investors about billions of dollars in bonuses" being paid to Merrill executives at the time of the takeover. Bank of America agreed to settle the SEC's charges and pay a penalty of 33 million dollars, without admitting or denying the allegations, the SEC said. The SEC alleged that Bank ... Read Full Story

Stop CEOs Flagrant Hedonistic Spending

Written by BossKitty on
BossKitty, still sick, but could not resist this denouncing another demonstration of detachment from reality. I am tired of the clueless, narcissistic, self-important, CEO mentality. These Corporate Icons, who pose as leaders of industry, are nothing more than overpaid elitist, Oedipus complexes in over priced underwear. Hired for their ability to run a corporate ship into seas of profit, the outrageous salaries and perks they receive could fund a small country. This leads my thoughts into the dark realm of profits … what exactly is the profit margin and product mark up? It must also be outrageous, for a company to afford such extravagant ... Read Full Story

Thain Campbell Brown | Commentary: CEO buys fancy curtains as the walls crumble

Written by franksheung on
Commentary: CEO buys fancy curtains as the walls crumble John Thain, the former CEO of Merrill Lynch, resigned Thursday from the company that bought Merrill out, Bank of America. As far as we can tell, his departure couldn’t come soon enough. Not long ago, Thain was credited with keeping Merrill alive long enough to be rescued. Now we learn the man who asked for, then quickly withdrew, his request for a $10 million bonus still managed to live large while Merrill teetered on the brink and workers paid the price. See more here Commentary: CEO buys fancy curtains as the walls crumble - CNN.com ... Read Full Story
 
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Ingersoll Rand to Present at the Bank of America Merrill Lynch 2009 Global...
SWORDS, Ireland--(BUSINESS WIRE)--Ingersoll-Rand plc (NYSE:IR) announced today that Herbert L. Henkel, chairman and chief executive officer of Ingersoll Rand, will discuss the company's long-term strategy, starting at 9:40 a.m. EST, Thursday, December 10, at the Bank of America Merrill Lynch 2009 Global Industries Conference in New York. The presentation will be accessible via live webcast on the Ingersoll Rand web site at http://www...  
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Massey Energy CFO to Speak at Bank of America Merrill Lynch Global Industries...
RICHMOND, Va., Dec. 7 -- Massey Energy Company (NYSE: MEE) Vice President and Chief Financial Officer Eric Tolbert will be speaking at the Bank of America Merrill Lynch Global Industries Conference at 1:40 p.m. eastern time on December 8, 2009 in New York City. M...  
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SPX to Participate at Bank of America Merrill Lynch 2009 Global Industries...
CHARLOTTE, N.C., Dec. 7 /PRNewswire-FirstCall/ -- SPX Corporation (NYSE: SPW) today announced that Patrick O'Leary, Executive Vice President and CFO, will participate at the Bank of America Merrill Lynch 2009 Global Industries Conference in New York City on Wednesday, December 9, 2009 at 10:35 a.m. Eastern Time.  
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Merrill Bull Returns to Business Cards
Merrill Bull Returns to Business CardsWall Street JournalFormer Merrill Lynch investment bankers won a major concession from Bank of America Corp., as it agreed to reverse a ...Bank of America (NYSE: BAC) Stock Sale Largest Since 2000American Banking NewsBoA Merrill raises equity to repay TarpFinanceAsiaall 6 news articles »  
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Cliffs Natural Resources Inc. to Present at Bank of America Merrill Lynch...
CLEVELAND - Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced that Executive Vice President and Chief Financial Officer Laurie Brlas is scheduled to present at the Bank of America Merrill Lynch Global Industries Conference being held at Crowne Plaza  
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Forestar Group to Present at Bank of America Merrill Lynch 2009 Basic...
AUSTIN, Texas--(BUSINESS WIRE)--Forestar Group Inc. (NYSE: FOR) today announced that Jim DeCosmo, president and chief executive officer, will be presenting at the Bank of America Merrill Lynch Global Industries Conference in New York City on Tuesday December 8, 2009 at 2:30 pm EST. The live presentation may be accessed through Forestar Group’s Internet site, www.forestargroup.com, by clicking on "Investor Relations – Investor Events." Replays...  
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Merrill Lynch SA UK Regulatory Announcement: Amendment to Final Terms
LONDON--(BUSINESS WIRE)--Notice of Amendment Merrill Lynch S.A. Series No. 489 USD 31,000,000 Floating Rate Credit-Linked Notes due 2011 linked to NJSC Naftogaz of Ukraine (ISIN: XS0275571395) (the "Notes") Merrill Lynch S.A. (the "Issuer") and the holder of all of the Notes have agreed to make certain amendments to the Final Terms dated 1 December 2006 (the "Original Final Terms") relating to the Notes. Accordingly it has been agreed that the...  
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John Thain - Wikipedia, the free encyclopedia
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John A.Thain
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John A. Thain Named Chairman and Chief Executive Officer of Mer
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Merrill CEO stands to collect $9.7 mln payout - Reuters
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