Saturday, October 27, 2007

From The Good Work...

If You Can Get It Department: The Price of Any Departure Will Be at Least $159 Million - New York Times

Merrill Lynch’s directors may be weighing E. Stanley O’Neal’s future, but one thing is already guaranteed: a payday of at least $159 million if he steps down...

“I lay the blame at the foot of the board,” Frederick E. Rowe Jr., a money manager and president of Investors for Director Accountability. “He was paid a tremendous amount of money to create a loss that is mind-boggling, and he obviously took risks that should never have been taken...

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