Happy
John Thain saved Merrill Lynch from collapse in 2008 through his adept maneuvers. He sold off the company to Bank of America in a Treasury-sponsored deal right before a run on its shares would have destroyed the firm.
He has now been appointed as the new CEO of CIT, the business lender that emerged from bankruptcy only recently. Thain might be the perfect choice to turn around the company.
I wonder where Bob Nardelli, Chrysler’s former boss, is going to end up.
