Monday, October 29, 2007
Merrill lynch CEO's missteps
--He didn't much engage in debate, kept his own counsel and had little use for the kind of strong-willed subordinates who might have helped him steer clear of the subprime troubles that brought him down.
--purged his rivals and allies after gaining power
--unilateral decision to ask Wachovia to buy Merrill
--roll his eys at the mention of Mr. McCann
--give even close allies a cold shoulder
--outster in July 2006 of three seasoned bond executives led by Jeffrey Kronthal
--stuck with 32.1 bil of CDOs and 8.8 bil of subprime mortgage securities
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment