Stories tagged with Finance
Bear’s Cayne holds cards close to vest
By A. James Memmott | November 1, 2007 at 2:28pm | 1 
In a classic fiddling-while-Rome-burns story, the Wall Street Journal traced the activities of James Cayne, the CEO of Bear Stearns Cos. this summer.
While units of Bear Stearns, an investment and banking powerhouse, were collapsing because of the credit crisis in the subprime mortgage market, Cayne was out of reach for hours at a time, the Journal reported Thursday.
Not surprisingly – he’s a CEO after all – Cayne was incommunicado at times on the golf course.
But at other times he was, hold on to your hats, playing bridge.
Soft landings for Merrill’s O’Neal and other ex-chiefs
By A. James Memmott | October 31, 2007 at 1:49pm | 0
The cushioned exit of Stan O’Neal as CEO of Merrill Lynch & Co. this week was proof again that nothing succeeds at the top levels of business like not succeeding.
O’Neal is to receive a reported $161.5 million in stock options and retirement benefits. He was ushered out because he had lost favor with his board after announcing that the company had a $2.24 billion quarterly loss.
While $161.5 million seems like enough to get by on, it doesn’t equal amounts received by other dismissed executives.
