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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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.

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Comments

1

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?

2

Posted by guest , Aug 04, 2008 5:34PM

I thought O'Neill sunk Merrill?

3

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.

4

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.

5

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"

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