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| Tuesday, February 9, 2010 |
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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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January 22, 2009 9:02 AM ET
(Reuters) — Merrill Lynch paid billions of dollars of bonuses to its employees, three days before completing its life-saving sale to Bank of America, the Financial Times reported on its website on Wednesday. The money was paid as Merrill’s losses were mounting, forcing Bank of America CEO Kenneth Lewis last month to seek additional government support for the deal. Merrill’s compensation committee agreed to pay bonuses on December 29, at least one month earlier than usual, the paper said. Yet within days of that committee meeting, the FT said, B of A officials became aware Merrill’s fourth-quarter losses would be much greater than expected. Bank of America, in a statement, told the paper, “Merrill Lynch was an independent company until Jan 1. (Merrill CEO) John Thain decided to pay year-end incentives in December as opposed to their normal date in January. B of A was informed of his decision.” Last week, Bank of America said it would receive $20 billion in U.S. Treasury investment on top of $25 billion earmarked last fall for a combined B of A-Merrill. Bank of America said Merrill had a $21.5 billion operating loss in the fourth quarter. Despite the massive losses, Merrill set aside $15 billion for 2008 compensation, 6% lower than a year earlier. A person familiar with the matter told the FT about $3 billion to $4 billion of that compensation were annual bonuses. The bulk is comprised by salaries and benefits.
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Latest News
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CRAIN'S BENEFITS OUTLOOK 2009
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