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Thain Cut From Smartmoney Mags Power 30 List

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by Jeff Bercovici
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Oct 22 2008 1:08pm EDT

Thain Cut from 'SmartMoney' Mag's 'Power 30' List

The market's unpredictable gyrations have forced some long-lead magazines into calling audibles to avoid embarrassment. That's what happened at SmartMoney, where, I'm told, Merrill Lynch CEO John Thain was originally tabbed to appear on this year's edition of the annual "Power 30" list.

It was Thain, of course, who presided over the $50 billion sale of Merrill Lynch to Bank of America last month -- right around the time SmartMoney was putting its list to bed. While he has been praised in some quarters for preventing a complete evaporation of Merrill's value with decisive action, he's still the guy who sold the company for half of what it was worth when he took over.

So it's no surprise that Thain didn't make the final cut -- while Bank of America CEO Kenneth Lewis did.

SmartMoney's editor in chief, Jonathan Dahl, didn't respond to a request for comment. Update: Dahl says, "We did switch him out because we wanted to be as timely as possible."

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