THURSDAY OCTOBER 16
Merrill: Write-Offs, Layoffs, Clean-Ups

Last night, a Merrill banker told us a massive round of layoffs would begin today and likely persist into next week, as the company reported a steep third-quarter loss and another $9.5 billion of write-downs. As the bank prepares to be swallowed up by Bank of America, here’s the slash n’ burn it’s giving its balance sheet – who knows, you might find something worth buying.

October 2008

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