Bartiromo: When you say you'll be back to profitability, when is that?
Thain: Well, we don't project, and we don't give guidance. But shortly. Shortly.
Bartiromo: Okay. 2008? Or...no guidance?
Thain: No guidance.
Attention, Merrill Shareholders: Be On The Lookout For Profitability Between Now And Whenever
Posted by Bess Levin, Aug 04, 2008, 5:20pm
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Posted by guest , Aug 04, 2008 5:31PM
Hi, I made a lot of money at Goldman Sachs. Now I get to run Merrill!
No guidance, no problem.
No earnings, no problem.
Did I mention I am filthy rich and will go to my yacht and cruise around until people forget I sunk Merrill Lynch?
Posted by guest , Aug 04, 2008 5:34PM
I thought O'Neill sunk Merrill?
Posted by Lowly Assistant , Aug 04, 2008 6:23PM
Yikes. Thain needs a gentlemanly game of bingo, 6 sea breezes on the esplanade, and a traditional American "thumbs up" to save that visit to CNBC. Either that or a good tan and a persona that can carry a grey suit and pink tie while balancing one's self on a table, pouring sugar down your gas tank, and fucking your poor, despondent grandmother...
Pardone - I can't keep my eyes off the Portfolio cover.
I want 2006 back.
Posted by guest , Aug 04, 2008 11:03PM
If Thain thought his appearance on CNBC would salvage some of his lost credibility, he's sadly mistaken.
I think we can all take Thain's reluctance to give guidance for the rest of the year as evidence that he does not have a clue of what's going to happen one month or six months down the track. I don't blame him, no one does. But this was from a man who told us five months ago that Merrill needed no further capital injections and the worst was behind us.....................
I was disappointed with Thain because he didn't thank Paulson, Cox, and Bernanke for saving his ass at the end of the interview.
Posted by guest , Aug 05, 2008 9:48AM
I don't know if his little chuckle meant:
a) "I can't believe you asked that follow-up question when I just told you I would say nothing" chuckle
-or-
b) "Merrill... Profitable... HAHAHAHAHAHAHA... are you f***ing serious? HAHAHAHAHA"