Bank of America...and Pay by Merit....

Discussion in 'Wall St. News' started by libertad, Sep 22, 2009.

  1. An ex-executive of Dupont....will now try to pull together
    BAC....under his leadership...Dupont lost 55% of its value....
    And to be sure ...the executive gained handsomely....
    BAC dropped by a third....but Lewis gained handsomely....

    ????????????????

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ac1jAfbVCUSw


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    New Board Member

    The bank added its sixth new board member this year, tapping DuPont Co. Chairman Charles “Chad” Holliday Jr. Bank of America will have 15 members on its board, down from 18, with all positions now filled.

    Holliday “will get the board to gel in the proper way,” said Ram Charan, an author, management consultant and former Harvard Business School professor who said he has known the DuPont executive for 25 years. “The board will do what is necessary to get the most out of a franchise that is the envy of the rest of the banking industry.”

    During Holliday’s 11 years as DuPont CEO, the shares of the third-biggest U.S. chemical maker declined 55 percent. Bank of America shares have dropped by more than a third since Lewis took over as CEO in April 2001. Holliday didn’t respond to a request for a comment through DuPont spokeswoman Lori Captain.