Search for: "John A. Thain"
Results 1 - 20 of 155
Sorted by Relevance | Sort by Date
23 Jan 8:01 am
Yesterday, pretty much everyone was a-flutter over the the story that Merrill's John Thain had spent
$1.2 million on redecorating his office when he joined ... officer or director who stands to benefit from the merger. Please include a discussion regarding Mr. Thain's continued employment arrangement with Bank of America and any similar arrangements ... Wachtell Lipton sent another letter in response to SEC
questions, including this one on Thain's compensation once he joined Bank of America. We note the 8 ...
27 Jan 6:43 am
... , despite my efforts to persuade him otherwise. My recent arch-nemesis appears to agree: "Folks like John Thain are perfect candidates for public shaming on billboards and in the press," Professor Calandrillo said. "Their good name is ... notes with greater
specificity the dangers of even the privately-instigated shaming punishments, alerting us to the fact that shaming the Thains of the world can be "particularly potent in our
networked age: online and offline shaming can ruin reputations, produce ...
22 Jan 1:49 pm
... have discussed the bonuses paid to the prior chief at ML before, Mr. $160 Million. Now, we find out that John Thain spent $1.3 million on himself. The Daily Beast reports that Thain spent foolish amounts of money on
ego-stroking items like "relamping wall sconces" for $3,000 and a rug for $87,000. I wonder how many people had to be laid off so that Mr. Thain could have a professional decorator make him feel better about himself. Give me a break. No surprise that ML ...
26 Jan 12:00 pm
We wrote earlier today about John Thain's remodeling of his office. Our post raised fewer questions
about his behavior and more about the board's. We note that he has issued a memorandum where he has agreed to repay the expenses associated with the remodeling. Here is the full version
of what the memo said on the subject: The final topic is the expenses related to my office. The $1.2 million reported in the press was for the renovation of my office, two ...
19 Dec, 2007 5:34 am
... of fiduciary duty claim against the New York Stock Exchange and its Chief Executive Officer John Thain - Hyman v New York Stock Exch., Inc., 2007 NY Slip Op 09909. The case arose when certain plaintiffs sold their Exchange memberships before an ... the
announced merger, the value of Exchange memberships dramatically increased. The plaintiffs alleged that the Exchange and Thain breached their
respective duties to disclose, prior to the sales of their Exchange memberships, the existence ...
26 Jan 9:00 am
By now, everyone is aware of John Thain's dismissal from B of A last week, at least in part,
according to the press, because of "poor communications" about Merrill's unexpectedly large losses in December. As he departs, it's safe to say that his press is ... ,967 Roman Shades
$7,315 Coffee Table $5,852 Commode on Legs $35,115 CNBC also noted that some who work for Thain did very well. His driver received $230,000 for
one year's work, "which included the driver's $85 ...
14 Apr, 2008 8:56 am
You can take John Thain out of Goldman Sachs, but you can't take the Goldman Sachs out of
John Thain. That seemed to be a main message in Portfolio magazine's long profile of Mr.
Thain, who has become chief executive of Merrill Lynch during one of Merrill's most challenging times. The story covers many aspects of [...]
23 Jan 1:06 am
When John Thain became Merrill Lynch's CEO in early 2008, he hired Michael S. Smith Design to revamp
his office suite, spending approximately $1.22 million. The following ... $10,967 Roman Shades $7,315 Coffee Table $5,852 Commode on Legs $35,115 Thain also paid his driver $230,000 for one years work, which included the driver's ... salary and bonus of $18,000, and another $128,000 in over-time pay.
Yesterday Thain lost his job after having used taxpayer money to pay $4 billion in bonuses and ...
8 Oct 3:50 pm
... this economic state ...I will admit: apart from a guess based on threshold derivative knowledge of what a collateralized debt obligation ("CDO") is, I have no functioning knowledge
of what a "CDO[s]-squared" is. But former Merrill CEO John Thain does, and he had some things to say
about it earlier this week. These instruments were so complicated. One of these - I'm talking now about ABS CDOs, and actually the CDOs-squared are even worse. ...
18 Jan, 2008 7:46 am
Thursday's 10 percent decline in Merrill Lynch's shares took a toll on the big gift basket of Merrill stock and stock options that Mr. Thain
received when he came on board as the securities firm's chief executive in December. Mr. Thain's restricted Merrill stock - he got about
546,000 shares, according to regulatory filings - [...]
11 Nov, 2006 9:08 pm
For a Wall Street guy, he sounds pretty outspoken: Thain also cited competition between state and federal regulators as another reason why some
companies list their shares abroad and sounded relieved that New York Attorney General Eliot Spitzer was moving...
16 Jun, 2008 2:37 pm
The economy is stalling and corporate earnings are off, but the paychecks for chief executives at the largest companies generally got fatter last year. The Associated Press did an
analysis of the total compensation packages for the heads of companies in the Standard & Poor's 500 index, and it found that the median compensation package [...]
22 Jan 1:31 pm
... Lynch, it's latest acquisition, were larger than expected. Fallout A: Former Merrill CEO John Thain resigned today from BofA. A source told The Journal that BofA had lost confidence in Thain, after the bank's
CEO, Ken Lewis, learned of mounting fourth-quarter losses at Merrill from ... Thain described as one of the worse months in Wall Street
history. Despite the size of these losses, Thain told Merrill's board the losses were in line with BOA's estimates. Neither BOA nor ...
30 Jan 5:00 am
... have received TARP funds, my Office issued subpoenas seeking the testimony of former Merrill Lynch CEO John Thain, as well as the testimony of Bank of America Chief Administrative Officer J. Steele Alphin. These subpoenas are ... the least and warrants further
investigation. His focus is on the bonuses and, according to the WSJ, Cuomo is looking into what Thain told the directors at Merrill about the
losses. As the article noted: According to the person familiar with the situation, Mr. Cuomo also ...
23 Jan 3:01 am
... , just three days after shareholders voted to approve the merger, on December 8, 2008, Merrill's CEO John Thain addressed a meeting of Merrill's Board of Directors. ... as one of the worse months in Wall Street history. Despite the size of these losses,
Thain told Merrill's board the losses were in line with BOA's estimates. ... . December 5 -- Special meeting of shareholders, who vote to
approve the deal. December 8 -- Thain tells ML board of significant losses in November, losses "in line with BOA's ...
27 Jan 12:14 pm
The last several days haven't been good for John Thain. Last week the former head of Merrill Lynch
resigned from Merrill's new owner, Bank of America, ... received U.S. government financial aid amid the credit crisis. In December Cuomo blasted Thain after WSJ reported that he asked for a 2008 bonus of up to $10 million. Thain ... committee resisted his
request. Earlier today Cuomo said he was seeking testimony from Thain and BofA's chief administrative officer. He said the eleventh-hour
bonuses by ...
8 Dec, 2008 5:46 pm
Update: John Thain will not receive a bonus from Merrill. Andrew M. Cuomo is watching Merrill Lynch
very closely. On the day that the investment bank was reported to be weighing a $10 million bonus payment to its chief executive, John
A. Thain, the New York attorney general weighed in. It wasn't hard to guess on which [...]
14 Nov, 2007 12:01 pm
John Thain. Robert E. Rubin. Henry M. Paulson. With the impending appointment of Mr. Thain as the new chief executive of Merrill Lynch, one fact becomes more and more apparent: Goldman Sachs is increasingly inescapable. What is it about the
investment bank at 85 Broad St.? The firm apparently avoided the woes besetting its rivals by deftly [...]
15 Nov, 2007 7:35 am
John Thain isn't just moving to a new company. He's moving to a whole new pay scale. While his
previous position as the head of the New York Stock Exchange - now NYSE Euronext - was prestigious and high profile, Mr. Thain's paycheck was a
bit light by Wall Street standards. (Understandably so, since it was [...]
8 Apr, 2008 4:46 am
Merrill Lynch does not plan to raise more capital and will continue to shrink its balance sheet amid the global credit crunch, the investment bank's chief executive, John Thain, said on Tuesday. Mr. Thain, who met with reporters on a visit
to Merrill's Tokyo offices, declined to lay out plans for job cuts but said it [...]
Search on: Blawgs.FM | BlawgSearch Google Co-op | Blawg.com | Bloglines | Feedster | Google Blog Search | Technorati | Google | MSN | Yahoo!