Likely ouster at Merrill Lynch won't hold others back

0 Comments | USA TODAY, October, 2007 | by Del Jones

If Merrill Lynch ousts Stanley O'Neal as expected, it will be seen as a standstill in the steps made by African-American CEOs over the last eight years, but the setback will only be temporary, say those who follow such progress.

Black Enterprise magazine tracks rising talent, and editor Alfred Edmond says that while dismissals might seem like "watershed events" because there are so few black CEOs, over time this will be seen as part of the "ebb and flow."

Although no announcement had been made as of Monday evening, The Wall Street Journal and The New York Times reported that O'Neal will be forced out following last week's bombshell that Merrill will write down $7.9 billion in subprime mortgage losses. USA TODAY could not confirm those reports, which were...