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Swiss banking giant UBS joined Merrill Lynch at the bottom of the credit related write-down pile with the release of its earnings Tuesday. The damage: $4.4 billion in credit-related write-downs, wiping out all of the fixed income divisions profits...
Merrill Lynch won’t be paying Stan O’Neal a bonus or severance package, the company announced in it’s Form 8-K filed today. But O’Neal, who “retired” today as CEO after a disastrous third quarter, will receive ...
They didn't get to "Talk to Chuck," but attendees of the 2007 Schwab IMPACT conference did get a chance to talk to Walt Bettinger, president and chief operating officer, as well as Charles Goldman, executive vice president of Schwab Institutional...
Stan O’Neal was allowed to retire it was announced today, after 21 years at the company, the last five as CEO. Alberto Cribiore, a member of the board and founder of Brera Capital, a global private equity firm, was named interim non...
Apparently Merrill Lynch has been gorging itself on risk. And, it may cost CEO Stan O’Neal his job, according to Charles Gasparino on CNBC’s website today. Gasparino says O’Neal expects to be fired in “days” for...
Wall Street bonuses and their effects on the sale of luxury apartments in Manhattan? Said to be like the moon and the tide. The Wall Street bonus season reached record heights in 2006 ($23.9 billion), while luxury apartment sales in Manhattan...
The Securities Industry and Financial Markets Association released a “white paper” today about how well the mandatory arbitration system works. The system, you’ll recall, was established 20 years ago and forces customers to...
Ameriprise Financial Services has long been accused of possessing a culture that’s more concerned with sales commissions than compliance. The latest allegations against the company from the New Hampshire Bureau of Securities Regulation...
Stan O’Neal opened Merrill Lynch’s earnings call by not beating around the bush: The firm had a net loss of $2.3 billion, due largely in part from $7.9 billion in write-downs related to exposure to sub-prime mortgages and...
Before filing an appeal on behalf of a trustee, carefully consider the state's law on this issue. In Kentucky, such an appeal might be a fine idea. The recent decision in Estate of DeMoisey v. River Downs Inv. Co., 231 S.W.3d 785 (Ky. App. Aug. 10...
