Lawsuit-- Merrill/Bank of America retention plan

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Oct 28, 2008 12:18 pm

Bloomberg News

Bank of America Corp. and Merrill Lynch & Co., the brokerage firm it is acquiring for $50 billion, were sued by black and female Merrill brokers who claim they’ve been largely excluded from a retention-bonus plan.

George McReynolds, already the lead plaintiff in a racial discrimination lawsuit against New York-based Merrill, plus eight other men and women filed the new suit in Chicago federal court on Oct. 24, the day it was reported that the bank would pay to keep some of Merrill’s brokers.

“They put together a retention plan for white men,” plaintiffs’ lawyer Linda Friedman said in a phone interview.

Oct 28, 2008 12:22 pm

Welcome Barrack Obama!!  KICK THE WHITE MANS ASS! HE DESERVES IT!  Not because I decided not to work evenings and weekends to make it...but because I want what he has and Barrack will get that for me.....YAHOOOOOOO>....

Oct 28, 2008 1:03 pm

Oct 28, 2008 1:41 pm

“They put together a retention plan for white men,” plaintiffs’ lawyer Linda Friedman said in a phone interview.


 
And what would be a retention plan for black men?  Isn't a retention plan based on production numbers.  This is absurd.
Oct 28, 2008 2:48 pm

Welcome to the new U.S.S.A

Oct 28, 2008 4:17 pm

Disgusting, irritating, pointless, bogus BS...and yet humorous at the same time.

Oct 28, 2008 6:41 pm
Reggin:

“They put together a retention plan for white men,” plaintiffs’ lawyer Linda Friedman said in a phone interview.


 
And what would be a retention plan for black men?  Isn't a retention plan based on production numbers.  This is absurd.
 
Maybe they wrote the numbers in black ink... (poor attempt at humor)
 
Isn't her quote kind of like claiming the NBA is racist because there are a lot of tall black guys. 
 
Basically, if you can play ball on an elite level, you can be in the NBA regardless of height, skin color, language spoken, etc.  On the same hand, if you can produce $1,000,00+ at Merrill Lynch, you will get a retention bonus, regardless of height, skin color, language spoken, etc.
Oct 28, 2008 6:51 pm

I think the lawsuit has merit.  I find it believable that BOA sat down, looked at the racial profiles of brokers, and rewarded them according to race.  WTF!!!!!!!!!!!!!!!!!!!!!!!

Oct 28, 2008 9:18 pm

Has to be a joke. If its not, the F**KIN lawyer should be disbarred, and the brokers that are part of the class action should be suspended by FINRA

Oct 28, 2008 9:42 pm

Geez, I suppose with all of this being said, I would like to sue the NAACP for not giving me a helping hand.  And the United Negro College Fund for not helping with my college tuition.  After all, my daddy never came home from Vietnam, so who is there to help me? No one but mom... Oh, and also Ebony mag for not directing their publishings towards me.   Oh, and the inability for us po white foks not being able to have the NAAWP. Why can't we have White Entertainment Television? or things like the United Caucasian College Fund, Cloud Magazine, or Miss White America?   I am sick of all this "Political Correctness." I know a lot of black people, and not a single one of them was born in Africa ; so how can they be "African-Americans"? Besides, Africa is a continent. I don't go around saying I am a European - American because my great, great, great, great, great, great grandfather was from Europe. I am proud to be from America and nowhere else.  The low producing MER brokers are lucky to have jobs.  If you don't like what was offered, try working over here at WB, or the firm that used to be known as AGE, and see how ya like them apples ya bunch of babies that are crying about being left out or are joining the suit.   

 
Wow....that eliminates the need for sex tonite.....