Bank of America (BAC) said late Thursday that it plans to cut up to 35,000 jobs over the next three years

“We will find a solution in the not too distant future.”

CEO Mel Karmazin, addressing investors at Merrill Lynch’s 2008 Media Fall Preview conference in Marina del Ray, Calif., yesterday, said that the company does not have enough cash to pay off its debt but is confident that it will receive bank financing.

Already facing harsh criticism over 400 jobs cuts in Connecticut, AT&T Inc. now finds itself fighting efforts by state regulators to make it report executive compensation.

Whole Foods CEO John Mackey said Tuesday that the Federal Trade Commission’s pursuit of antitrust claims in his company’s acquisition of Wild Oats is “almost a vendetta” and is wasting time and money.

“I don’t think you will stay at that level very long because you are going to start shutting down a lot of projects,” he said at a press conference in New York. “It will be obvious we can’t sustain anything like that.”

Novellus Systems Inc. on Tuesday said it plans to cut 10% of its workforce and warned that its results for the current quarter will be “below the low end” of guidance due to weakening demand.

The online edition of The Wall Street Journal, citing unnamed sources, reported Monday that Morgan Stanley’s John Mack decided to forgo his bonus because it “would send the wrong message.”

Merrill announced late Monday that Thain will not get a bonus for 2008. In addition, Merrill’s other four top executives, including Gregory Fleming and Robert McCann, will also go without bonuses, the firm said in a statement.

Christopher Dodd, D-Conn., chairman of the Banking Committee, said GM CEO Rick Wagoner “has to move on”