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Steven Panagos, the court-appointed custodian of Le-Nature's Inc, searched in vain last November for proof that the water bottling company had US$275mil in annual sales. What he found were two sets of financial records, a trove of jewellery, diamonds, gold watches and toy trains, and as little as US$32mil in revenue.
Stan O'Neal, the beleaguered chief executive of Merrill Lynch Co., was reportedly close to resigning Sunday amid broad criticism for leading the world's largest brokerage to its biggest quarterly loss since it was founded 93 years ago.