Ridiculous Item of the Day

Have these people been alive and breathing in recent days? Hilarious…

From the San Jose Business Journal:

Merrill Lynch & Co. Inc. shareholders have filed suit against the brokerage firm’s chief executive, John Thain, and its board over Bank of America’s proposed $50 billion buyout of the company. The lawsuit, filed in New York State Supreme Court, claims the deal is wrong, unfair and harmful to Merrill shareholders. The suit says the defendants have clear and material conflicts of interest and are acting to better their own interests at the expense of Merrill public shareholders.

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3 Thoughts on “Ridiculous Item of the Day

  1. shepherd on September 17, 2008 at 10:49 AM said:

    That made my day…it’s living proof of the much greater fool theory.

  2. Danielle on September 17, 2008 at 11:58 AM said:

    Chad, question for you – how healthy is GE Asset Management? Should we be worried about them too?

    And as always, thanks for all your insightful thoughts & advice!

  3. Chad Brand on September 17, 2008 at 12:31 PM said:


    My firm and I have been fortunate enough to avoid the landmines others have stepped on so far (AIG, FNM, FRE, WM, CFC, BSC, LEH, MS, GS, MER) — knock on wood — but of the companies Peridot is invested in, GE is the one that I am most worried about at this point.

    Hopefully GE’s disclosures will be in depth when they report Q3 earnings next month. I would put GE in the category of a company investors certainly need to keep a close eye on. It’s too early to say they are in trouble, but concern and close monitoring is certainly warranted given the scope of their financial services divisions.

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