Business briefs: O'Neal retires

Stan O'Neal, the departing Merrill Lynch CEO, will walk away with $161.5 million in stock, options and benefits after announcing his retirement Tuesday. O’Neal, 56, was under pressure to leave after the investment bank reported a $2.24 billion quarterly loss — Merrill’s largest since being founded 93 years ago — and a $7.9 million writedown of revalued assets backed by shaky mortages.

CONSUMER CONFIDENCE

With Christmas only about eight weeks away, shoppers are feeling more forlorn about the economy than they have since Hurricanes Katrina and Rita. The New York-based Conference Board’s Consumer Confidence Index fell to 95.6 from a revised 99.5 in September. The report, which showed its third monthly decline in a row, heightens worries about the holiday shopping season.

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Navigation shelter resident tests positive for coronavirus

Homeless advocates repeatedly warned about an outbreak in congregate settings

CCSF taps first Asian American woman to lead as interim chancellor

City College reached a settlement with former Chancellor Mark Rocha after an abrupt departure

Plummeting Bay Area bridge traffic finally levels off

All told, weekday Bay Area traffic volumes are down by half, which has remained consistent from March 23 through this week.

Burger Boogaloo moved to Halloween weekend

Annual music festival hosted by John Waters to feature Bikini Kill, Circle Jerks

Newsom says face coverings can help, but California won’t mandate for now

Gov. Gavin Newsom said Thursday that face coverings are beneficial in grocery… Continue reading

Most Read