Merrill Chief Wants $10-Million Bonus For Presiding Over $11-Billion Loss

[babylonsister]

Merrill Chief Wants $10-Million Bonus For Presiding Over $11-Billion Loss
By Zachary Roth - December 8, 2008, 1:06PM


Talk about tone deaf!

Merrill Lynch chief John Thain wants a bonus of as much as $10 million, reports (sub. req.) the Wall Street Journal.

Merrill's compensation committee is, not surprisingly, said to be objecting, pointing out among other things that, due to the dire economic situation, other firms like Goldman Sachs -- which did better than Merrill -- are forgoing bonuses this year.

Merrill has lost almost $12 billion this year, and is about to be taken over by Bank of America. Its shares have fallen fom $50 when Thain took over late last year to $13.04 at close of trading Friday.

more...

http://tpmmuckraker.talkingpointsmemo.com/2008/12/merrill_chief_wants_10_million.php

[Double T]

1. Typical belief for a corrupt psychopathic corporate snake like Thain.

This is the type of CEO that needs to fired for incompetence; instead of rewarding incompetence.

[Vinca]

2. I'll gladly take the job and kill the business for half that amount.

Bonuses are supposed to be for success, not failure.

[Selatius]

3. His sense of entitlement is painful to watch. nt

[Idealism]

4. His math is off, he should be given $11 million

I guess its no wonder that he ran the company into the ground with math skills like that

[sattahipdeep]

5. crazy eyes

http://www.dealbreaker.com/images/entries/Thainscopesthemodels.bmp

[Ichingcarpenter]

6. They got $10 billion in the bailout so he gets 1/10 of that

as a finders fee. What's wrong with that?



He promised me 1/10 of his bonus for saying that.

[hobbit709]

7. I'll give him that bonus

In gasoline soaked $1 bills and I have a place to put them in him.

[Nye Bevan]

8. The CEO of AIG is working for $1 per year

Does Thain thinks he is 10 million times better?

[underpants]

9. Hey! It could have been $21 Billion

Oh....... with this it will be

[moondust]

10. Take a hike chump.

You're lucky to have a job at all. Now get down to Burger King and fill out an application.

[eilen]

11. that fucker owes me $8,000

and a big thanks asshole for destroying over 80% of my father's hard earned savings.