Sir Gregory doesnt answer to anyone.He just hangs around,waiting to disappear like nothing happened.But he did a disaster like all other inventors here and not only by this board.
Apr 8, 2006 12:33 PM EDT
Bank of New York, J.P. Morgan Swap Assets Bank of New York will trade its retail banking business for J.P. Morgan's corporate trust unit and some cash.
Under the terms of the agreement, Bank of New York will sell its retail and regional middle-market businesses to J.P. Morgan for $3.1 billion with a premium of $2.3 billion, according to a news release posted on Bank of New York¿s Web site. J.P. Morgan will sell its corporate trust business to Bank of New York for $2.8 billion with a premium of $2.15 billion. The difference in premiums results in a net cash payment of $150 million to Bank of New York. There is also a contingent payment of up to $50 million to Bank of New York tied to customer retention.
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