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12/09/2008 05:32 PM ID: 75401 Permalink   

CEO for Merrill Lynch Retracts Request for 10 Million Dollar Bonus

 

John Thain, CEO for Merrill Lynch, was reported on early Monday to have requested 10 million dollars in bonuses for his service to Merrill Lynch. Later that same day Thain withdrew his request for the bonus.

The annual salary earned by John Thain is an estimated $750,000. For signing with Merrill, he received a bonus of 15 million dollars and was also promised a pay package worth somewhere between 50 and 120 million dollars in a span of several years.

Merrill Lynch has sold itself to Bank of America for 50 billion dollars to prevent itself from collapsing, which would lead to further losses for the company. Many companies are doing away with year's-end bonuses due to a struggling economy.

 
  Source: news.yahoo.com  
    WebReporter: ToofDogger Show Calling Card      
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  9 Comments
  
  I guess he didn't want that bullet  
 
in the back of his head. Anybody here every made $750,000 in a year?
 
  by: valkyrie123     12/09/2008 06:22 PM     
  Don't be so harsh on the man Valk  
 
it's hard to make a living off his salary, he just needs some extra money to buy his kids Christmas presents is all... For the love of god think of the children
 
  by: ToofDogger     12/09/2008 06:42 PM     
  LOL!  
 
He must read SN.
 
  by: xlman   12/09/2008 07:08 PM     
  @ToofDogger  
 
Those aren't Zimbabwe dollars dude.
 
  by: VermiciousG     12/09/2008 07:20 PM     
  !  
 
He is still a rich bastard. People are loosing jobs left and right and a guy making millions wanted a $10 mil bonus wtf?
 
  by: greatwarrior1   12/09/2008 08:10 PM     
  @VermiciousG  
 
I know lol, there is another article that someone pointed out how you can get away with anything as long as it is in the name of childrens safety so I was just playing off that
 
  by: ToofDogger     12/09/2008 09:58 PM     
  Bugger  
 
I still like the bullet idea best. They should still shoot him for having the gall to ask in first place.
 
  by: BlackWidow   12/09/2008 10:39 PM     
  @val... Nope  
 
But I have in 20.


BB
 
  by: bbeljefe     12/09/2008 11:53 PM     
  He should have pulled a Dr. Evil.  
 
"I want a ONE HUNDRED BILLION dollar bonus this year!"

Only to retract it later. It would have gotten a lot of laughs with the kids.
 
  by: vash_the_stampede     12/10/2008 05:10 AM     
 
 
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