The Final Days Of Elders Finance Group Merrill,Cargill Slash, But Stuff Some Pockets
NON-BANKS
As the last employee gets set to turn off the lights at Elders Finance Group (EFG), a subsidiary of Australian-based Elders IXL, the reports of large severance packages and even more sizable lay-offs surface.
Although a number of senior staffers at EFG, including Gene Donney, president of the firm, reportedly fought up until the end to find a buyer who would keep the crew together, that attempt failed and as a result heads have been lopped.
Merrill Lynch & Co., the proud new owner of most of EFG
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