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Merrill Lynch’s Thain to Remain with Bank of America
After executing a preemptive sale of investment bank Merrill Lynch & Co. Inc. (MER), Chief Executive John A. Thain will remain with Bank of America Corp. (BAC) after the merger, the Charlotte-based bank announced yesterday (Thursday).
"I am delighted that John has agreed to join Bank of America," Kenneth D. Lewis, Bank of America’s chairman and chief executive, said in a statement, The New York Times reported. "His experience and expertise will be invaluable as we put our two companies together and move forward as the premier financial services company in the world."
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Commodities Trading: Aluminum’s Alcoa bribes (maybe) and buys
Despite record-breaking commodities prices, aluminum giant Alcoa (AA: NYSE) is not having the best of times right now.
The U.S. Justice Department just asked a judge in Pittsburgh to hold off on a lawsuit against the company.
The government of Bahrain is suing Alcoa for what it says was a 15-year pattern of bribing government officials and overcharging to Aluminum Bahrain BSC, a long-time Alcoa customer.
But don’t get too excited. The DOJ is asking the civil court to take a break while it investigates a possible criminal case against Alcoa. Ouch.
The news hasn’t had too bad an effect on the company’s stock, but…
24Mar2008 | Stephanie Grimmett | Comments Off | Continued
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