GOOD DAY FOR: Good timing, as Merrill Lynch CEO John Thain and trading division chief Thomas Montag are eligible for more than $47 million in combined payouts if they leave or are given lesser positions after Bank of America completes its buyout of Merrill. Thain joined Merrill last December, and could get vested shares worth $11 million; Montag, hired last month, would get $36 million in stock and stock options. (Bloomberg)
BAD DAY FOR: Washington Mutual, after Standard & Poors cut its credit rating to junk, following the lead of the other two major rating agencies. Washington Mutual dropped almost 27 percent, closing at $2 a share yesterday, before S&P issued its downgrade. This will make it harder for WaMu to raise capital, if needed; S&P said the thrift has enough capital and liquidity to survive for a while. (CNNMoney.com)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 43 TV shows to watch in 2014
- What the Middle Ages can tell us about the GOP's big charity myth
- Why is the Pentagon stuffing caves in Norway full of tanks?
- The U.S. is about to sell weapons to Vietnam. That's bad news for China.
- 3 horrific inaccuracies in Homeland's depiction of Islamabad
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Did the media get Ferguson wrong?
- An open letter to #brands about Gamergate
- Gamergate has backfired spectacularly on its nincompoop perpetrators
- Let us now praise Billy Joel
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