Is this okay to do without alerting the board? Obviously several members of the board don't think so.
Merrill’s Chief Is Said to Consider a Bid to Merge - New York Times. "Facing billions of dollars in losses from the subprime mortgage crisis, Merrill Lynch chairman and chief executive, E. Stanley O’Neal, floated the idea of a merger with a large bank, a foray that angered Merrill’s board and could cost him his job, according to people close to the beleaguered Wall Street firm."
ML is going through some hard times right now, but I hope they don't do what a lot of companies do and try to make it seem like its all Stanley, so everything he does seems to be wrong.
