Monday, December 08, 2008

Thain Denied King's Ransom.

As we posted earlier, The Wall Street Journal and others reported today that Merrill CEO Thain was asking for a $10 million bonus that was later denied by Merrill. The Journal has a strict policy of reporting so I really doubt Merrill's denial. More likely damage control when the major wires went crazy over this story. Kudos to New York AG Cuomo for scaring the bejesus out of Merrill - probably a(the) major factor in Merrill's decision.
posted by TimingLogic at 8:07 PM