This one has absolutely nothing to do with currencies, but I just had to post this one...
Merrill Lynch's O'Neal Departs With $161.5 Million Plus Perks
By Miles Weiss
Oct. 30 (Bloomberg) -- Stan O'Neal, ousted from his job as chairman and chief executive officer of Merrill Lynch & Co., will depart with $161.5 million of securities and retirement funds, according to a regulatory filing.
Merrill announced today that O'Neal was ``retiring'' effective immediately, a form of departure that allows him to keep any prior stock bonuses that that might still be subject to forfeiture. He'll also get an office and executive assistant for up to three years, the filing said. He won't get a 2007 bonus, New York-based Merrill said.
Oh man! How's he ever going to make it on 161 million especially now that he's not going to get that 2007 bonus. I guess he's going to have to resort to eating peanut butter and jelly sandwiches now. haha!
Ya know...it would be great to be fired from some jobs huh? I think this is one of them. They get a ton of money for doing a crappy job.
It does have one implication to currencies....there's a ton of dollars going into his wallet.
Sean Hyman
Currency Director
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