Update: John Thain reverses bonus request
Reuters is reporting that Merrill Lynch CEO, John Thain, has withdrawn his request for a $10 million bonus. Was this a selfless desire on Mr. Thain’s part to “do the right thing”, or was it caving in to the public outcry? The mere fact that he asked for that kind of bonus in this economic environment, leads me to believe that he caved. Regardless, he is apparently not going to receive $10 million as a reward for losing only $11 billion for the company.
I have to wonder if this had happened before the internet’s existence if Mr. Thain would still be asking for the money.
OneMom
I sincerely hope that the government will make sure that all of this bailout money will be tracked extremely well. AIG got away with some really stupid and very insensitive things and as far as I know have not been demanded to return the money. I wish I could have the opportunity to spend and spend. I can not, as I have lost appx. $100,000.00 in my IRA Account.
Pingback: Remember John Thain? « One Mom