Brown can do a lot for you...but green is doing a whole lot more for bankers

United Parcel Service Inc raised its fourth-quarter profit forecast on Friday and said it would cut 1,800 management and administrative jobs. Its shares rose 5.7 percent. (NYT)

Investment bankers at Bank of America Corp. will likely get bonuses close to what they got in 2007 as the bank tries to retain key employees following its takeover of Merrill Lynch, The Wall Street Journal reported Thursday. Citing people familiar with the situation, the Journal reported that Bank of America bankers are expected to get 2009 bonuses equal to 2007 levels, with about 25 percent in cash and the rest as deferred payments of stock or cash tied to the company's performance. Merrill paid out $5.8 billion in year-end bonuses in 2007, the Journal said. It said the size of Bank of America's bonus outlay could not be determined.