Lose Money, Win Big!

Discussion in 'The NAAFI Bar' started by Rocketeer, Oct 29, 2007.

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  1. what the hell am I doing wrong?

    Stan O'Neal, 56 CEO of Merrill Lynch, one of the world's biggest banks and brokerages, just made a big whoopsie by ' understating ' the losses on the last earnings statement. seems it was $ 2.24 billion.. a measley six times the amount the firm forecast.

    this little slip resulted in a 'decline' of 29 percent, the most of the biggest securities firms.

    so, because he screwed up big time, he only gets $30 million in 'retirement' benefits and $ 129 million in stock and option holdings [ based on Friday's price of $ 66.09 ]..that would be on top of the $ 160 million he got for five years orf running things into the ground.

    but what really frosts me is that, while the security guards watched him clean out his personal effects and made sure he didn't lift the pen and pencil set, the ' investors ', happy to see him go, bid up the stock price an additional $ 5.19 so that on his way out to the car park his stock and options gained another $ 16 million.

    geez, some guys...
     
  2. Give him a break will ya - He's 56 Fer Krisesakes - where's he gonna get another job at his age.!!
     
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