Word: ceo
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...based on the profits. If you lose, you lose someone else's money rather than your own, and you move on to the next job. If you're especially smart - like Lehman chief executive Dick Fuld - you take a lot of money off the table. During his tenure as CEO, Fuld made $490 million (before taxes) cashing in stock options and stock he received as compensation. A lot of employees, whose wealth was tied to the company's stock, were financially eviscerated when Lehman bombed. But Fuld is unlikely to show up applying for food stamps...
When a company's stock gets beaten down in the market, its CEO often clamors about how short sellers and unjustifiably negative market sentiment are to blame. That's not always the case, but on Sept. 17, John Mack may have had a point...
...also, at least in the minds of many angry investment bank CEOs, a long time coming. In the months leading up to the current market chaos, the short sellers have been on the prowl. But now the witch hunt has begun. The shorts nailed Lehman and Bear Stearns by betting that their shares would continue to fall. And now they have Morgan Stanley and Goldman Sachs in their sights, sparking speculation that the last two remaining go-it-alone investment banking giants may have to find a deep-pocketed commercial bank to partner up with. "What's happening out there...
...million fans worldwide now based in Asia, the investment by AIG - keen to build their business in the region - made good business sense. When quizzed by a shareholder why he was pouring so much into the U.K., a modest part of AIG's empire, the insurer's then-CEO Martin Sullivan explained: "I am not buying the U.K. I am buying Asia...
...still have one; and with the same name. Merrill Lynch has nearly 17,000 financial advisors between its retail brokerage and wealth management units. That's part of what attracted Bank of America - B of A CEO Ken Lewis called it "the crown jewel of Merrill Lynch" - so chances are, your broker isn't going anywhere, and he or she will try to make sure that you don't either. B of A plans to keep the Merrill name and organization intact...