Merrill Lynch
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For post-2008 purchase information please see Bank of America.
Merrill Lynch, purchased by Bank of America in 2008, was a large financial services company that had revenues of $70 billion and profits of $7 billion in 2006. It provided financial services for private, institutional, and government clients. It worked with mutual funds, insurance, annuities, trusts, clearing services as well as investment banking and brokerage. [1]
The company operated in the United States, Canada, Europe, the Middle East, Africa, the Pacific Rim, and Latin America. Headquartered in New York City, USA, it was founded in 1820. [2]
Contents
Coal investments
Merrill Lynch is a major financier of new coal plant construction. New coal-fired power plants being funded by the company include:
- Plum Point Energy Station (AR)
- Longleaf (GA)
- Sutherland Generating Station Unit 4 (IA)
- LS Power Elk Run Energy Station (IA)
- Smith Station (KY)
- Big Cajun II Unit 4 (LA)
- Midland Power Plant (MI)
- Ely Energy Center, Phase I (NV)
- Ely Energy Center, Phase II (NV)
- White Pine Energy Station (NV)
- Huntley Generating Station (NY)
- Sallisaw Project (OK)
- Cross Generating Station Unit 3 (SC)
- Cross Generating Station Unit 4 (SC)
- Pee Dee Generating Facility (SC)
- Marion City Project (SC)
- Big Brown 3 (TX)
- Lake Creek 3 (TX)
- Limestone 3 (TX)
- Martin Lake 4 (TX)
- Monticello 4 (TX)
- Morgan Creek 3 & 4 (TX)
- Morgan Creek 7 (TX)
- Oak Grove Plant (TX)
- Sandy Creek Plant (TX)
- Tradinghouse 3 & 4 (TX)
- Valley 4 (TX)
- Wise County Plant (VA)
- Nelson Dewey Generating Facility (WI)
Protests against coal investments
Apr. 13, 2007: Blockade of Asheville Merrill Lynch
On April 13, 2007, two people calling themselves members of the "Climate Justice League" entered a Merrill Lynch building in Asheville, North Carolina, dumped a sack of coal in the lobby, and used a bicycle lock to blockade the door. The activists demanded that Merrill Lynch stop funding mountaintop removal coal mining companies such as Massey Energy. No arrests were reported.[3]
Political contributions
E. Stanley O'Neal, then CEO of Merrill Lynch, was a Bush Ranger having raised at least $200,000 for Bush in the 2004 presidential election. [4]
Merrill Lynch gave $184,150 to federal candidates in the 2006 election through its political action committee - 47% to Democrats and 53% to Republicans. [5]
Lobbying
The company spent $3,952,760 for lobbying in 2006. $2,445,000 went to eight lobbying firms with the remainder being spent using in-house lobbyists. [6]
Contact details
4 World Financial Center
250 Vesey St.
New York, NY 10080
Phone: 212-449-1000
Fax: 212-449-9418
Web: http://www.merrilllynch.com
References
- ↑ Merrill Lynch Profile, Hoovers, accessed July 2007.
- ↑ Merrill Lynch Profile, Yahoo Finance, accessed July 2007.
- ↑ Climate Justice League Strikes Merrill Lynch, Infoshop News, April 13, 2007.
- ↑ Pioneers and Rangers, Texans for Public Justice, accessed July 2007.
- ↑ 2006 PAC Summary Data, Open Secrets, accessed July 2007.
- ↑ Merrill Lynch lobbying expenses, Open Secrets.
External links
- "Merrill Lynch Top Contributor to Bush After Third Quarter", Open Secrets, Oct. 17, 2003.
