We Knew after a 8.4 billion dollar write down this quarter which stan oneal to the blame for would only lead to his demise from Merrill but we didn't know it would be announced in this fashion. Merrill Lynch announced that Stanley Oneal would retire immediately from Merrill, let me stress the word RETIRE. This announcement leaves the CEO position open and the company is in the process of searching both internal and external for a new CEO. They are many rumours that Oneal with receive a package as much as 160 million dollars.
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