Word: thain
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...Monday, John Thain, who was Merrill's chief executive when the firm sold to BofA, got the top job at troubled lender CIT. Thain said he was interested in the opportunity to revitalize the small-business lender. "CIT can and will serve an important role in the recovery of the U.S. economy and the creation of jobs," Thain told reporters...
...lucrative jobs. Last June, top Merrill Lynch investment banker George Young was hired by Lazard to be a vice chairman of its U.S. investment bank. Lazard paid its employees an average of $505,000 in 2009, slightly more than Goldman Sachs. Young, most likely, got considerably more. Thain, for his new job, will be getting an annual salary of $6 million, of which $500,000 will be in cash and the rest in restricted stock...
...Toilet Organization to raise awareness for the 2.5 billion people around the world who live without proper sanitation. But even for those of us with access to modern plumbing, how often do we really think about our toilets? From outhouses to water closets - even former Merrill Lynch CEO John Thain's $35,000 "commode on legs" (technically a table, not a toilet) - humans have been devising creative ways to go to the bathroom since, well, the first person crossed his legs with an urgent need to go. (See the top 10 environmental ideas...
...weekend before Lehman Brothers' collapse, Merrill Lynch CEO John Thain turned to Lewis for help. Thain called Lewis to offer him 10% of his firm. Lewis said he wanted it all. By the end of the weekend, the deal was done. Lewis was hailed as a hero for saving Merrill on the same morning that Lehman was forced to file for bankruptcy. (See the top 10 bankruptcies...
...December 2003 he was named Goldman's chief operating officer and co-president after the departure of John Thain - Blankfein's rival to lead the firm - who left to become CEO of the New York Stock Exchange. By then, Blankfein had impressed Goldman's board of directors and especially Paulson, then the CEO, with his tenacity, ambition and hands-on management style. "Hank became increasingly concerned about whether [John] Thornton or Thain" - the co-presidents of Goldman before Blankfein - "would assume responsibility for the business units and show they could run things," says a former Goldman partner. "Lloyd showed...