Gloating At John Thain’s Step Down
From The Atlantic Wire Business writers are happy John Thain’s second act is a step down. The CEO who engineered a fire sale of Merrill Lynch to Bank of America and earned fame as the financial Nero who bought a…
From The Atlantic Wire
Business writers are happy John Thain’s second act is a step down. The CEO who engineered a fire sale of Merrill Lynch to Bank of America and earned fame as the financial Nero who bought a $35,000 toilet while Wall Street burned has returned to life as the executive of CIT–a smaller, less-prestigious, more troubled firm. CIT is a lender to small businesses that went bankrupt in November, knocking out a $2.3 billion government investment. Thain is a wide-cheekboned Goldman alum who oversaw Merrill Lynch’s hemorrhaging final days. Do they hold the key to one another’s resurrection?
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.