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The subject line on the analyst's note from David Small at BearStearns said it all, “Christmas comes early for MMC shareholders,”following the announcement today that Mike Cherkasky, the embattledpresident and CEO of Marsh & McLennan Companies, is on his wayout the door–a move I suggested was inevitable in my blog back onDec. 10.


While I very much doubt my blog was the last straw (especiallysince I suggested that Mike probably wouldn't be gracefully forcedout until mid-year 2008), comments like mine certainly reflected awidespread dissatisfaction within the investment community that MMCitself acknowledged today.

MMCs financial performance in 2007 has fallen far short of ourexpectations,” said Stephen R. Hardis, the company's non-executivechairman. “The Board has taken this performance into account, andlistened to concerns raised by some of the companys largestshareholders in recent quarters, in making this change.”

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