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25 Oct, 2007 4:39 am
Merrill Lynch's admission Wednesday that it would take a $7.9 billion write-down, has, perhaps unsurprisingly, raised questions about the leadership of Merrill's chief, E.
Stanley O'Neal, and most crucially the ability of his top executives to manage the risky assets on the firm's balance sheet. The
recent credit problems are not the first Mr. O'Neal has [...]
27 Oct, 2007 11:00 pm
... for failed credit and mortgage-related investments generated a large number of comments from around the blogosphere on the future of Merrill's CEO, E. Stanley O'Neal, none of which were better than this one from The Epicurean Dealmaker: I cannot speculate what will happen next at Mother
Merrill, but I can guarantee you O'Neal's days at the helm are numbered. Being a CEO at an investment bank is not unlike crowd surfing at a mosh pit: it's a ...
26 Oct, 2007 4:02 pm
Sunday Update: The board of Merrill Lynch has reached a broad consensus that E. Stanley O'Neal, the chairman and chief
executive of the company, will not remain in his position, according to people briefed on the discussions, The New York Times reported early Sunday morning. That follows a report in The
New York Times earlier in [...]
26 Oct, 2007 9:00 am
A New York Times report that Merrill Lynch's embattled chief executive, E. Stanley O'Neal, reached out to his counterpart
at Wachovia about a possible merger created a stir Friday morning. Members of the company's board, who had not been consulted before the phone call, are said to be fuming and pressing
for Mr. O'Neal's ouster. But [...]
30 Oct, 2007 6:31 am
After five years atop one of Wall Street's best-known firms, E. Stanley O'Neal is gone. Merrill Lynch on Tuesday said that
Mr. O'Neal, its embattled chairman and chief executive, is retiring, effective immediately, marking the official announcement of a departure that the Street has been
expecting for days. Merrill said it had named a director, Alberto [...]
30 Oct, 2007 12:49 pm
The departure of E. Stanley O'Neal from Merrill Lynch can be read as a deal story of sorts. And as with any major
negotiation, both sides have hired high-powered lawyers to do the talking for them. And luckily for both parties, their legal representatives have plenty of experience in this kind of
matter. Representing Mr. O'Neal is [...]
17 Jul, 2008 10:05 pm
"First of all, I take exception to the 'you guys' comment. I did not create these C.D.O.'s." - John A. Thain, Merrill Lynch's chief executive, responding to an analyst comment
during the securities firm's conference call Thursday afternoon. He was referring to mortgage investments that Merrill made under his predecessor, E. Stanley O'Neal.
17 Jan, 2007 3:59 am
As Merrill Lynch prepares to announce Thursday what analysts expect will be its most profitable year ever, its chief executive will continue to spend those record-breaking profits to
make acquisitions to stay competitive, Bloomberg News said. In particular, E. Stanley O'Neal is expected to eye
investments in commodities and mortgage-bond trading, in efforts to catch [...]
7 Mar, 2008 7:24 am
In Washington on Friday, a House committee is taking a close and, in many cases, skeptical look at the departing paycheck and other perks bestowed on E. Stanley O'Neal. The former Merrill Lynch chairman and chief executive took home $161.5 million in cash, stock and stock options as he was forced
out of the ailing [...]
14 Nov, 2007 11:57 am
In ousting its chief executive and installing a new one from outside the firm, Merrill Lynch is sending Wall Street a signal that big changes are afoot. In some ways, though, the man
who is set to become Merrill's next boss, John Thain of NYSE Euronext, shares traits with the last one, E. Stanley [...]
7 Mar, 2008 9:52 am
"The reality is that I received no severance package." That was part of E. Stanley O'Neal's prepared testimony to a
Congressional inquiry into his exit payments, as the former Merrill Lynch chief executive and two other executives defended their pay packages. All three men called to testify - Mr.
O'Neal, Angelo R. Mozilo of Countrywide Financial [...]
12 Nov, 2007 4:40 am
Losses are mounting. Chief executives are quitting. Bonuses are plummeting. And amid all the mania, The Deal.com recaps up some of the weirder facts recently gleaned about Wall Street
bigwigs. Among them: Former Merrill Lynch C.E.O. E. Stanley O'Neal likes to play golf. Alone. He grew up in
a log cabin but now lives in the [...]
31 Oct, 2007 4:50 am
Could a love of southern Italian cuisine play a part in who succeeds E. Stanley O'Neal, the former chief executive and
chairman of Merrill Lynch who retired Tuesday after losing the support of his board? The New York Times notes that Alberto Cribiore, who was put in charge of finding a new chief
executive, and Laurence [...]
5 Nov, 2007 9:33 am
... second CEO victim. Less than a week after Merrill Lynch CEO E. Stanley O'Neal resigned, Citigroup CEO Charles Prince
announced his resignation. As ... his tenure and the company has lagged behind its peers. By contrast, last year, O'Neal was being celebrated. His admittedly risky
investment strategy appeared to be paying off as ... field. But this past success was not enough to overcome the most recent crisis, and O'Neal was shown the door. In the
end, one could offer a variety of different reasons for ...
11 Nov, 2007 12:13 pm
... . The govment gets a tongue-lashing too. Exhibits A and B consist of E. Stanley O'Neal and Charles O. Prince --
the departing chiefs of Merrill Lynch and Citigroup, respectively. The former's going-away gift came to about $160 million (on top of $100 million in regular compensation), ... system's
toughness on shareholder lawyers like him with its laxity towards Wall Street executives such as Messrs. O'Neal and Prince. Blawgletter can hardly blame him. But we note
that Mr. Lerach ...
2 May, 2008 8:30 am
... received less support at a number of financial companies this season, including Citigroup, Morgan Stanley, Wachovia and Merrill Lynch,
where many observers expected the measure would fare better ... retail shares voting drops from 30.1 percent to 23.3 percent with the e-proxy option. Those numbers are based on
an evaluation of 103 corporate issuers that have ... other corporate matters. While there was an outcry when Merrill Lynch's E. Stanley
O'Neal and Citigroup's Charles Prince received large exit ...
12 Oct, 2007 4:58 am
In July, Merrill Lynch reported a solid second quarter. Profit was up 31 percent over the previous year and essentially flat from the prior quarter. The chief executive, E.
Stanley O'Neal, sent a memorandum to employees outlining risks he saw in the economy and praising performance. "More than
anything else," Mr. O'Neal wrote, "the quarter reflected [...]
29 Oct, 2007 4:57 am
E. Stanley O'Neal's six-year reign at Merrill Lynch is coming to an end. After an $8.4 billion write-down and an
unauthorized merger approach to a rival bank, Wachovia, Mr. O'Neal has lost the confidence of his board and is expected to resign as chairman and chief executive as early
as Monday, The New York Times [...]
5 Nov, 2007 5:05 am
On Oct. 24, Merrill Lynch announced its biggest write-down ever, an $8.4 billion charge that also represents the biggest known loss in Wall Street history. Six days later, its chief
executive, E. Stanley O'Neal, retired from the company he had run since 2002. Mr. O'Neal's departure, many
analysts say, was a victory for accountability. But amid [...]
12 Nov, 2007 12:15 pm
James J. Cramer, co-founder of TheStreet.com and host of CNBC's "Mad Money," isn't getting weepy about the recent departures of E. Stanley O'Neal and Charles O. Prince III from their respective firms. On that subject, he says the mood on Wall Street is more like
goodbye, and good riddance. In a harshly worded column in this [...]
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