Merrill Lynch boss seeks 10-million-dlr bonus: report

And a little bit of news from John Key’s former career and even his former employer.

The chief executive of troubled Wall Street firm Merrill Lynch is seeking a 10-million-dollar bonus this year in the midst of a financial crisis which plunged his company into dire straits, US media reported Monday.

John Thain, who took the reins of the securities firm one year ago, has suggested to its directors that he be payed the multi-million-dollar 2008 bonus but the company’s compensation committee is resisting, according to The Wall Street Journal.

Citing unnamed sources familiar with the situation, the newspaper said the committee and full board were to meet Monday to hear Thain’s bonus requests for himself and other top executives of the firm that suffered billions of dollars in losses this year and narrowly avoided collapse by selling itself to Bank of America.

Read more

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s