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Merrill Lynch now grades stocks on a curve
Following the ground-breaking 2003 "global settlement" of tainted research charges, top banks with large retail units tinkered with their stock rating systems. Merrill Lynch became the latest to Read more...
SPOTLIGHT: Morgan Stanley, Bank of America Job Cuts
Morgan Stanley says it will cut about 1,000 jobs (about 2 percent of its total), mainly from its brokerage unit. Back office and support jobs will be hit hardest. At Bank of America, the front Read more...
Ned Johnson not giving up yet
The big news out of fund and brokerage behemoth Fidelity Investments always seems to center on succession issues. Lost in all that talk is the fact that Ned Johnson, at 77, doesn't seem to be slowing Read more...
John Thain gets a warmer welcome at Merrill Lynch
John Thain, the new CEO of Merrill Lynch, has so far escaped the kind of criticism that is dogging Vikram Pandit before he even starts. MarketWatch puts it this way: "Most agree that Thain, 51, Read more...
Ghost of Enron still haunts Wall Street
Even the mere hint of Enron can really dog the top banks--even today. Merrill Lynch's battle to win a correction from the Wall Street Journal was over an article that accused the brokerage of using Read more...
Culture clash brewing at Merrill Lynch?
Stanley O'Neal, even as he took Merrill Lynch to new heights, was never really seen as a brokerage guy. He was more of a banker-trader guy. Of course Merrill Lynch's brokerage force has a long Read more...
ALSO NOTED: Inside at 130/30 hedge fund; Mini-rally in corporate debt?; and much more...
Company News:> Cold comfort: Mortgage rates ease. Article > Bank of America launches new mortgage with Read more...
SPOTLIGHT: TD Ameritrade
The heat is still on. Two hedge funds have stepped up their campaign to force the online brokerage to seek a merger. They have sent letters to execs demanding that Toronto Dominion be kept out of Read more...
Commerce to end some family ties
Commerce Bancorp has long been considered a pioneer in the retail banking sector. Its user-friendly branch Read more...
More specific fund offerings coming
We've been talking about more hedge fund management firms going public in some form. And you should fully expect this to pan out. At the same time, we may also see more management companies take Read more...