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Bank Of America: John Thain To Have 'major Role' In Company

 
Michael Kitchen
MarketWatch Pulse
     

    NEW YORK -- Bank of America Chairman and Chief Executive Officer Ken Lewis said Thursday that John Thain, current chairman and CEO of Merrill Lynch , "will have a major role" in B of A as head of the Global Banking, Securities and Wealth Management unit after it completes its takeover of Merrill. "His experience and expertise will be invaluable," Lewis said. "Our company will look quite different after the merger," he said.

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    Same-Store Sales

    Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.

    So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.

    Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.