Merrill Lynch CEO John Thain will become president of global banking, securities and wealth management once Merrill merges with Bank of America. This suggests he may end up running the whole show once the bank's CEO, Ken Lewis, retires. Thain, reporter Greg Farrell tells us in the accompanying video, aggressively unloaded Merrill's "toxic" assets. "He distinguished himself as the one Wall Street executive who was smart enough to save his ship before it ran aground."
HTC, a Taiwanese company making Google's first phone, is the biggest mobile-phone maker you've never heard of. John Wang, the company's chief marketing officer, explains why it employs "magicians" and how it embraces failure.
You never have to type "http://www" again. Imagine the time savings. These are things you'll wish someone told you about years ago, like how to use Google as a quick calculator and a measurement converter. Or that if you press the space bar twice on your iPhone, you get a period, a space and the next letter capitalized.
Craig Mundie, Microsoft's chief research and strategy officer, explains the three dimensions of leading the company and the multiple focus points of the post-Gates era. "A lot of what we've done in terms of cloud services and what we've done to put our software into phones, cars, game consoles, televisions, watches and everything else, make us the only company today that has any chance to bring these things together in some unifying way," he said.
Even if the U.S. House passes the bailout package today, the world has plenty to fear from the financial contagion. The Economist says now is the time for global cooperation to save everyone's skin, not just the bankers'. "Governments need not just to communicate, but also to co-ordinate," this editorial says. "Past banking crises show that late, piecemeal rescues cost more and work less well."