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ANALYSIS

Dow jonesing for a makeover, critics contend
By Deepa Seetharaman
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
 
OpEd: Forget inflation, deflation is the real worrier
By Hans-Werner Sinn
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
 
Is Obama just bluffing on banks?
By Ronald Fink
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
 
For a change, some good news from the finance front
By Matthew Quinn
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
 
MORE ANALYSIS
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B of A had hand in Merrill's $4 billion payout: report

January 26, 2009 6:56 AM ET

(Reuters) — Bank of America played a role in Merrill Lynch’s controversial decision to pay $4 billion in bonuses in December, the Financial Times reported on Sunday.

Bank of America had said the payment of $4 billion in compensation in a fourth quarter in which Merrill suffered $15 billion in losses was sanctioned by John Thain, Merrill’s chief executive.

The FT reported that Mr. Thain, who left the firm last week, had at least two conversations with Banc of America’s chief administrative officer, J. Steele Alphin, before a December 8 board meeting at which Merrill’s bonus payments were approved.

Bank of America told the FT there were conversations about the bonus payments prior to the payouts.

“We never said we didn’t talk with them about it. But, in the end, it was their decision and they informed us of it,” the company said.

Bank of America could not be immediately reached for comment.

Write to the editors at fw_editor@financialweek.com.
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  Related Articles
» B of A splits corporate and investment bank, source says  February 14
» Merrill sped up bonus payments on the QT: Cuomo  February 11
» B of A not in danger of failing: Bove  February 6
» Angry employees sue B of A over Merrill  February 5
» Cuomo eyes return of Merrill's $4 billion stocking stuffer: report  January 30
» NY's Cuomo subpoenas Thain over Merrill bonuses  January 27
» Thain unlikely poster boy in Wall Street blame game  January 26
» Thain out at B of A—but will Lewis be next?  January 24
» Merrill's Thain out at Bank of America  January 22
» Merrill said to have paid $4b in bonuses before U.S.-backed rescue by B of A  January 22
» 'Crown jewel' Merrill tarnishing Lewis' rep  January 19

 
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