Merrill CEO Thain Seeking $10 million Bonus

Merrill CEO Thain Seeking $10 million Bonus

www.msnbc.msn.com

Merrill Lynch & Co Chief Executive John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million, but the battered company’s compensation committee is resisting his request, the Wall Street Journal said, citing people familiar with the situation.

The compensation committee has not reached a decision, but is leaning toward denying Thain and other senior executives bonuses for this year, the people told the paper.

(visit the link for the full news article)

I guess it never hurts to ask, but, what ARROGANCE!

Here's another one of those companies who are circling the drain and are probably ready to start asking for a bailout from the government, and this moron STILL wants a $10 million bonus!

It CAN'T just be greed that makes these CEO moron's think that they deserve millions of dollars in bonuses when the companies they are in charge of are falling apart!

There's just GOT to be more to it than GREED!

Some kind of "self important" or "I'm better than everybody else" mentality that drives these CEO's to keep pushing their companies to give them millions when their company is on the brink of disaster!

Oh, hears a reason why somebody close to Thain said that they believe is the reason why he thinks he deserves a $10 million bonus!

Thain has said he deserves a bonus because he helped avert what could have been a much larger crisis at the firm, people familiar with his thinking told the WSJ.

Ohhh! Geesh! I'm sorry! I never looked at it that way, He's a HERO!

I just think these CEO's have some sort of mental disorder.

At least there are some people at Merrill Lynch who seem to think that these bonuses are waaayyy out of line at the present.

www.msnbc.msn.com
(visit the link for the full news article)

[edit on 12/8/2008 by Keyhole]

This is a perfect example of the mentality of these people. They really are oblivious, arrogant a-holes who have no concept what so ever of the situation we're all in.

Is it still out of style to tar and feather people?

he has been denied, as have other top exec in the same industry.

what amuses me is it's only public outcry thats reigning them in. but they still have the nerve to ask and if the economy wasn't such a big focus at the moment they probably would have been paid out despite shoddy performance and we'd be none the wiser.

I have a better idea. Why does he not pay the company $10 million for his incompetence or give it to the people he helped to screw over.

But that is my idea; maybe the low level employees or American public could take the $10 million out of his hide.

Raist

For all intensive purposes in the society we have created,these CEO's are more important than you or me at the end of the day,tough luck. Plus im sure they got some form of payment...even if not in the public eye.

I think the last thing these executives are ignorant, they just know the Inevitable is comming for these financial firms...

Good luck god bless to America... they'll need that money to keep their greed happy for the next couple of years.

reply to post by FoxStriker


Yeah, they're not ignorant, they know that when the common citizen runs out of food they'll still have plenty of cake to eat.

Yeah, I was employed by these clowns in the subprime mortgage division until I think June of this year, then layed off. I am still mostly unemployed and getting unemployment compensation (which puts me in the "poor" category,so i must apply for assistance for my heating bills; not proud, but i gotta live). Is there any doubt Mr Thain will receive most of his 10 mil requested bonus? Will I be ale to eat and pay for heat . Thain, e'fim. I'd be happy to just pay my bill and stay warm and eat. Sorry, bit of a rant .

[edit on 12/8/08 by scooterstrats]

[edit on 12/8/08 by scooterstrats]

most of these CEO's and execs come from well-to-do backgrounds. Few and far between are the execs that started from the bottom and EARNED the position. Their sense of entitlement proceeds them and thier need to out earn thier millionaire daddies is thier drive. I definatley love the , " I may have run the company into the crapper but at least it wasn't as bad as it could have been. So pay me my bonus" mentality.

Thain's mentality, to totally paraphrase ( you can look it up) was " Well the company would have died/collapsed if I didn't broker the sale". Yep. That's it. Rather than save the company that he was hired to do, he sold it. So of course, he feels entitled to his 10 million bonus for essentially failing at his job. I dont expect 10 million. But in all fairness, they gave us free pizza every couple weeks. (uh, does anyone remember sarcasm?).

This filthy evil rotten pig has hundreds of millions of dollars.
And wants more while people are homeless and starving.
One day Justice will be done on creatures like this.
His daughter has already been robbed.
dealbreaker.com...