Merrill (MER) Goes To Wachovia (WB) About Merger

The New York Times reports that Stan O’Neal, the CEO of Merrill Lynch (MER) approached Wachovia (WB) about a potential merger of the firms.

The board of Merrill was upset because it was not consulted.

Still, given the broker’s current position, it seems like a sensible thing to have done.

Douglas A. McIntyre

  • Featured Article:

    The 15 CEOs Who Should Be Paid $1 A Year

    Lee Iacocca, Chrysler’s CEO in 1979, worked for $1 a year while his company paid back taxpayers $1.2 billion in loan guarantees. Edward Liddy, former CEO of Allstate (ALL) was paid $1 a year when he stepped in to run the crumbling AIG (AIG) as the request of Henry Paulson, who was Treasury Secretary at [...]

    Read Full Story »