BAC share prices has lagged JPM since its "Merrill weekend"...
The Merrill Board, who haven't missed a full dividend payment throughout the entire Merrill saga, are wimps for not giving Thain his due. He should have gotten "Grasso money", afterall. He got BAC to overpay by maybe $15/shr (if not more). If Thain recovered 2.5% of that in compensation, it would be $600 million.
The Merrill Board should have paid him, just to send a reinforcing message to Lewis how things are done downtown, right?
Meanwhile, the real question is how much CEO Lewis is going to get this year (and next), eh? Have a look at how he's arguably trashed his shareholders, in the chart above, by bending too far to scoop up toxins... while keeping an eye on how much the top-heavy riches of Merrill's magically endless sugar plums will come his way?
Someone (Nassim Taleb?) forgot to tell him the gold is cursed, maybe...
Tuesday, December 9, 2008
Thain and the Gravy Train
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