TITLE

No Thain, No Gain

AUTHOR(S)
Fisher, Daniel
PUB. DATE
April 2008
SOURCE
Forbes Asia;4/7/2008, Vol. 4 Issue 6, p28
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article analyzes the capability of John Thain to address the problems of Merrill Lynch. Thain was able to save the New York Stock Exchange (NYSE) during a front-running scandal and the ouster of its chief executive. Merrill Lynch is facing similar troubles but was in far worse shape and even posted an $8 billion after-tax loss in 2007. The actions taken by Thain to save Merrill Lynch are highlighted.
ACCESSION #
31791218

 

Related Articles

  • GEORGE SOMMERFIELD. Sommerfeld, George; Olsen, Pat // On Wall Street;Nov2006, Vol. 16 Issue 11, p88 

    The article discusses the author's experience in working in the securities industry. He relates that he worked at Merrill Lynch in Manhattan, New York City in 1965. He was sent by the firm to the New York Stock Exchange to help update a book for managers called "Patterns of Supervision." He...

  • THE PROBLEM SOLVER.  // On Wall Street;Jan2008, Vol. 18 Issue 1, p36 

    The article features John Thain, chairman of Merrill Lynch, and included in the "On Wall Street's" list of the 2008 Movers & Shakers. His experience in Sachs, where he rose to co-presidenl and co-chief operating officer, was seen as a valuable skill when he was appointed chairman of Merrill in...

  • THAIN'S AMBITION. ENGEN, JOHN // American Banker Magazine;Apr2015, Vol. 125 Issue 3, p16 

    The article looks on the plans of John Thain, chairman and chief executive officer (CEO) at CIT Group Inc., to acquire OneWest Bank NA in 2015 as part of its efforts to transform the financial holding company, which declares bankruptcy in November 2009. Topics include Thain's opinion on the...

  • Merrill CEO Sees Quick Return to Black.  // American Banker;8/5/2008, Vol. 173 Issue 150, p20 

    The article reports on a 2008 announcement from John Thain, the chief executive officer of Merrill Lynch & Co. Inc. In the announcement Thain indicated that he expects the company, which is the third largest securities firm in the U.S., to return to profitability in the near future. A discussion...

  • Merrill Posts $5.15B Loss.  // American Banker;10/17/2008, Vol. 173 Issue 201, p7 

    The article reports that Merrill Lynch & Co. Inc., which is scheduled to sell itself to Bank of America Corp., posted its fifth straight quarterly loss in October, 2008, reporting another $9.5 billion in write-offs of troubled assets. John Thain, the firm's chief executive officer, is quoted...

  • Mortgage Pain Aside, Merrill Comfortable with Its Capital. Ackermann, Matt // American Banker;1/18/2008, Vol. 173 Issue 13, p7 

    The author reports that Merrill Lynch & Co. Inc. has raised the capital needed to recover losses which the company has incurred. The amount of capital which the company raised is mentioned. According to the article, the company's chief executive officer (CEO), John A. Thain, feels that the...

  • It's Thain's move. Agovino, Theresa // Crain's New York Business;12/10/2007, Vol. 23 Issue 50, p3 

    The article reports that John Thain, chief executive officer at Merrill Lynch & Co. is re-examining the decision to shift the company's downtown headquarters to the site of the Hotel Pennsylvania in midtown in Manhattan, New York City. Thain is also considering to extend the Merrill's lease at...

  • NYSE Socks Merrill Unit With $10 Million Fine. McDermott, Ryan // Money Management Executive;8/22/2005, Vol. 13 Issue 33, p4 

    Reports that the New York Stock Exchange has ordered Merrill Lynch & Co. Inc. to pay million dollar fine for failure to deliver prospectuses to customers in mutual fund transactions. Parameters included in the prospectus; Cause of the delivery problems encountered by Merrill Lynch.

  • A badly mauled Merrill faces further traumas. Elstein, Aaron // Crain's New York Business;11/19/2007, Vol. 23 Issue 47, p4 

    The article presents information on decision of John Thain, chief executive officer of Merrill Lynch & Co. on future write-down. Thain will have to take tought decision to survive as the company is facing immense mortgage-related losses in investment banking services. Merrill now has a total...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics