$10M bonus by Merrill CEO for himself
The Merrill CEO, John Thain, is asking the company board that he deserves $10 million as bonus for 2008. This is the same Merrill Lynch which was saved from dying (bankruptcy) a day before Lehman Brothers filed for bankruptcy, thanks to the big Bank of America.
At least I don’t understand how this brazen demand to reward himself for failures came up in the mind of Thain.
This is not the first time that a CEO is pushing to enjoy big bucks even after his company is suffering big times losses.
Currently, Merrill board is not quite willing to accept the offer from Thain. Let’s see what is going to happen.
Any opinions?
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