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Charles Prince resigns - the domino theory of market meltdowns
in Sox First, on November 5, 2007
Last week, Merrill Lynch's Stanley O'Neal who "retired" after plunging his bank into an $8.4 billion third-quarter writedown that left it with a $2.2 billion loss - the biggest quarterly deficit in its 93-year history. Now, Citigroup's Charles Prince has fallen on his sword ...
Top exit payouts
in Sox First, on November 5, 2007
Last week, I talked about Merrill Lynch's appalling reward for failure when it sent former chief executive Stanley O'Neal with $160 million-plus in handouts after plunging the bank into its biggest loss for years. Now it turns out that payment is only the fifth biggest exit pay package...
O'Neal's $160 million parachute: Merrill Lynch's reward for failure
in Sox First, on October 31, 2007
Merrill Lynch has shown the world that it's possible to get rich from failure, at least on Wall Street, with its announcement yesterday that after a loss of $2.2 billion last quarter following an $8.4 billion write-down, its former CEO Stanley O'Neal is walking away with more than $160 ...