Word: thain
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Dates: during 2000-2009
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...time year-end payouts are made. Goldman Sachs reportedly plans to cut 10%, or 3,250 workers, from its payrolls. Barclays is expected to eliminate 3,000 jobs from the former investment-banking division of Lehman Brothers, which it acquired in September. And Merrill Lynch's John Thain recently said that he expects thousands of job cuts in the wake of his firm's acquisition. All told, Hintz expects Wall Street employment to fall 25%, which could mean a loss of 43,250 jobs in New York City alone and more than 200,000 jobs nationwide...
...into Merrill last December at $48 per share, but a downside protection clause meant the firm would make money even if the stock plunged to $24. It did - and then some. By late last week, Merrill traded at just over $17 a share, increasing the pressure on CEO John Thain to do a deal. Over the weekend, he sold the firm to Bank of America in an all-stock transaction worth about $29 per share for Merrill shareholders - which means Temasek could walk away with about a 20% return should it sell it shares. The Temasek deal last December, banking...
...bailout and the refusal of all potential purchasers (UK-based Barclays was reportedly the one that came closest to making an offer) to sign a deal without government backing. With Lehman headed for bankruptcy, Merrill Lynch was the next- most-vulnerable-looking Wall Street firm, so its CEO, John Thain, quickly inked a $29 a share sale to Bank of America that values Merrill at $50 billion. Meanwhile, AIG asked the Federal Reserve for a $40 billion loan to tide it over - a loan it seems unlikely...
Lionized as Wall Street’s most capable mop-up man, incoming Merrill Lynch CEO John A. Thain was known as a quiet, polite, and incisive Midwesterner during his days at Harvard Business School. On Saturday, Thain, a 1979 graduate of Harvard, will take charge of Merrill Lynch and attempt to rescue the brokerage firm from the biggest crisis in its 93-year history. In interviews with The Crimson, Thain’s former Business School classmates remembered his days across the Charles, where he attended school along with his Merrill Lynch predecessor E. Stanley O’Neal...
...NYSE have similar hurdles. But AIM's quality control is outsourced to 85 so-called Nominated Advisers, or Nomads. Generally accounting firms or financial management companies, Nomads scrutinize a firm's executive staff, business model and performance before deciding whether it can list. To a degree, NYSE's Thain is right: AIM has very few prescriptive requirements for listing - the Nomad's own judgment...