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$ 5 Billion Loss At Merrill Lynch : Business Banking in Trouble ?
- By Didier Delmer
- Published 6/10/2007
- Economy, Markets
- Unrated
Didier Delmer
"Who are we ?"
Company Profile :
Entrepreneurs and CO Ltd
145-157 St John Street - London EC1V 4PY
Chartered Accountants & Business Advisers, at Entrepreneurs & Co (ENC), we appreciate the value of working together as a team.
Because the flow of ideas is encouraged at ENC and everyone feels free to express their opinion with regard to work related matters it has by the very nature of being, created a dynamic work environment. As a team we all recognise our responsibility in making Entrepreneurs and Co what it is.
The reputation of the whole firm is in the hands of each individual and we are proud of being part of such a strong team. Together we encourage and motivate each other in a dynamic environment so that as a team we can provide innovative and profitable solutions for individuals and businesses.
Services
Every client is unique and deserves a unique service. Our philosophy is to put our clients first - to understand their situation and provide a first class service tailored to their specific needs.
Because we establish a one-to-one relationship with each client we are able to offer timely, individual advice on how to improve your business or personal finances.
As leading edge accountants we have developed the traditional bookkeeping, auditing, and accounting services into innovative client-focused services that provide not only all the reliable background support you would expect from a professional firm but also forward-thinking advice on how to improve your situation.
We have also developed a new range of accounting services to meet the needs of modern businesses, including a comprehensive business advisory service. Whether you need help with growing your business or advice on optimising your personal or family finances, we are here to help you get the best results.
Since becoming chief executive of Merrill Lynch in 2002, E. Stanley O'Neal has been credited with making the investment bank leaner and more disciplined.
Yet analysts raised questions Friday about the extent of that discipline after Merrill announced that it would take its first loss since the end of the technology boom and would write down $5 billion primarily in its fixed-income sector: subprime loans, complex debt instruments and leveraged, or risky, loans. 
Merrill said it expected to lose up to 50 cents a share for the quarter, compared with a profit of $3.17 a share, or $3 billion, for the quarter a year ago. The size of the write-down was second only to one for $5.9 billion taken by Citigroup, which is three and a half times the size of Merrill.