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Why is Bank of America 'scrambling' for a successor?

Posted Oct 2nd 2009 11:10AM by Zac Bissonnette (RSS feed)
Filed under: Management, Bank of America (BAC)

With Ken Lewis out as CEO of Bank of America (NYSE: BAC), the search for a successor isn't looking real good. The Wall Street Journal reports (subscription required) that the company's board of directors is having to "Scramble to lay a succession plan." The New York Times also chimes in that "The Dec. 31 departure of Kenneth D. Lewis has left the board at Bank of America scrambling for a successor."

Here's the problem: First, companies are always supposed to be working on succession plans because unpredictable things do happen.

Continue reading Why is Bank of America 'scrambling' for a successor?

More on Toilet Bowl of America's SEC settlement

Posted Aug 6th 2009 4:00PM by Zac Bissonnette (RSS feed)
Filed under: Law, Bank of America (BAC)

As Connie Madon reported earlier today on BloggingStocks, federal district court judge Judge Jed Ratkoff declined to sign off on Bank of America's (NYSE: BAC) settlement with the SEC.

Madon wrote that "The judge ruled that the $33 million fine did not give any specifics and did not specify whether or not any of the TARP monies were used in the $33 million figure."

Continue reading More on Toilet Bowl of America's SEC settlement