Merrill Lynch CEO Stan O'Neal is being forced out. The only thing up for negotiation is the terms of his departure. The firm logged a $2.3 billion loss in the third quarter and an $8.4 billion write off largely due to the subprime credit debacle. He also made overtures on the potential sale of the business without alerting the board.
Sam Hayes, professor in Investment Banking at the Harvard Business School, speaks with Renee Montagne.
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