Is Merrill to blame? Let’s try. From BAC’s internal website:
Changes to Recognition & Reward programs for 2009
Wed 17 Dec 2008
Bank of America remains strongly committed to recognizing the achievements of associates; however, in light of the current economic and business environment, the company will no longer offer its current Recognition & Reward programs beginning Jan. 1, 2009. This includes the Award of Excellence, Spirit Medallions, Spirit Rewards points, Spirit Cards and service anniversary gifts. Associates will continue to receive a lapel pin and desk memento to commemorate milestone anniversaries.
A new approach to recognition will be developed and introduced in the future for the combined Bank of America, Countrywide and Merrill Lynch organization, and information will be shared with associates as it becomes available.
Through Dec. 31, 2008, managers may continue to award Spirit Medallions and Spirit Rewards points, and all associates may continue to send Spirit Cards.
Associates will have through Feb. 28, 2009 to redeem Spirit Rewards points. Redemption requests made after that date will not be fulfilled.
I’m sure the Merrill folks are absolutely crushed that they won’t be getting their spirit points and lapel pins.
Anyone from BofA: what’s the bid on Spirit Rewards Points?
Thundering herd is going to shove those pins up their hick asses
jack sh!t bid on the Spirit Points, I used to get those things when I was there years ago…cashed them in for a nice set of flatware…yeah, pretty sh!tty, but at least I dumped all my options at 55
I believe it is called Flare
We got spirit yes we do, we got spirit, how ’bout you!!!???
We got spirit yes we do, we got spirit, how ’bout you!!!???
Forget spirit points. Have you seen Mike Tyson lately?
http://blogs.suntimes.com/sportsprose/2008/12/mike_tyson_has_put_on_quite_a.html
What are 1st year associate spirit point #’s?
did they really waste 247,000 pieces of paper to make that announcement? wtf! that’s almost as bad as the guy who made the song about the mbna merger…
http://www.youtube.com/watch?v=wmIObmv2t6M&feature=related
Can you short spirit points?
Quote me=
We are in a major depression.
There’s no other explanation for the retarded things companies are doing.
@cluzo– no, i think it was just announced on their internal website…
How much fly fishing gear can you get for Spirit Points, if you run into the right salesman>
What did the five fingers say to the face, again?
@13 – I thought they fired the guy that designs the overly complicated intranet. oh wait, that was their general counsel. I guess that makes sense…
“A PLEDGE PIN????!!! ON YOUR UNIFORM?”
Guess all the relatives of BofA tards are going to get crappy logo tote bags for Christmas this year. There is going to be a run on the spirit store.
@ 17 —- Awesome hahaha.
Someone finally got Kenny to understand that as long as they gave out spirit points, BAC was going to be the laughing stock of the industry.
Fuld, Cayne, Fishman all would get together and say “It could be worse, we could have instituted a spirit points policy”
What’s better than Spirit Fingers?
…
Spirit Fisting!
Is this a good sign or bad sign of the economy? On one hand they are getting rid of ridiculous programs which is a good thing, on the other hand they are one move away from pulling the batteries out of the clocks.
Great video Cluzo, do you know where I can find the “I love this Bank song”
Guys, this is no laughing matter. I was really looking forward to geting myself some spirit points after I exchange my bull for a flag, and before I exchange my paycheck for a severance check.
Guys, this is no laughing matter. I was really looking forward to getting myself some spirit points after I exchange my bull for a flag, and before I exchange my paycheck for a severance check.
The pay plan has always sucked at BOA. Then they decided to go with the spirit points….that’s supposed to keep us motivated? They’ve had a 2% cap on raises for a couple years…factor in inflation…I’m losing money. I’ve been thinking of looking for a new job for a couple years now. after 10 years of dedicated service, it looks like I’ll be looking for another company…this time one that appreciates me.
Heard on FBN’s “Happy Hour”
Rebecca: “Erik [Bolling] mmmmm…your street meat is delicious”
@22,
look at the Chrysler news to answer your question.
It’s like when Ultraman light started flashing….if he goes down, he may never rise again.
(99% have no idea)
you guys have to be kidding. esp @ 28.
I know that @ SEI (fund of funds) — they gave out an “Above and Beyond” award.
BoA bs is much gHeyer — good riddins.
This may be the greatest benefit of the financial contraction. Those that earn will no longer need to support these nonsense programs and the administrators behind them. It will be a fine day when business people no longer have to pretend to give a shit just to appease the hr department.
Now if they could just shit can all of HR, marketing, biz dev, and any other non-revenue department, life would be groovy, or at least less sucky.
I currently work in the wealth management area of BOA and can say that while spirit points does sound cheesy by name it goes hand in hand with the culture. BOA has a culture of recognition from entry level employee to executive, spirit cards are a quick and easy way to get some recognition out in an email style form. The spirit points while they may be called something different for other companies are shared by many. We are simply dropping the vendor that houses this point type system… and the points can be great to purchase all kinds of items in a catalog from appliances to trips and the shipping/taxes also paid with the points. General rule of thumb is every 1,000 points is about 100 dollars worth the merchandise. I’ll conclude by saying if you’re going to have “America” in your name you better have it in your veins… and we were are brand proudly whether it be via lapel pin or in any other fashion!
@32 – What a putz!
Just remember who almost went bankrupt….. not bank of america! The right words for the M. Lynch folks in this case should just be a simple thank you!
Just remember who almost went bankrupt….. not bank of america! The right words for the M. Lynch folks in this case should just be a simple thank you!
@32 – stop it, you’re embarrasing yourself. shouldn’t you be on the yahoo board? oh, and by the way, sometimes evoking the term “america” or “united states” doesn’t work so well…
http://en.wikipedia.org/wiki/New_York_Bank_of_the_United_States
sorry “embarrassing”…
32, go order me a new checkbook.
@36…. let me guess you don’t support the “United States” military or the troops either right? There is nothing wrong or embarrassing about calling on sources, even if by mere title that inspire pride! It doesn’t sound like you have much pride in working for the employer that you do but don’t hate on 32 for it! He/She merely answered the questions about the program from above…
@ 38, thank you for being a valued client of the bank!
@39 – you’re missing the point. putting “america” in the name is a marketing ploy that panders to people who don’t know any better. people that work at google are probably happier than the drones at bofa (35,000 of who are awaiting a pink slip). seriously, with the ax looming overhead, how can you have a sense of pride? your analogy is like comparing apples and lemons (or is it the other way around?). I’m not hating…
bofa will rule the street by this time next year
32 you’re a fucking clown.
Come hold a job down in New York City, bitch. It’s not as easy as stuffing your face full of bojangles and helping people open a checking account.
@43 Leave Bojangles out of this fight, it is purely a wonderfully delicious innocent neighbor of said BoA fanboy/girl? -32
@41, you nailed it.
@43
yeah it’s really hard to hold a job in nyc…because only really really smart people can get jobs at really smart banks, like the ones (left) in nyc
@32 – Bank of America started out as “Bank of Italy” by a bunch of guys in San Francisco. Moron.
> if you’re going to have “America” in your
> name you better have it in your veins..
@32 – How’s the kool-aid? You’re a complete idiot. Here’s your culture, from your bank’s hometown paper:
http://www.charlotteobserver.com/banking/story/87689.html
@32 you are a fucking idiot, and as much as i love america, this company cant be called bank of america anymore, that shit just wont fly overseas….also you fuckers in way over your heads and have no idea how to run an investment bank….there is gonna be a culture clash like no other
Wow. I’m just amazed at the fact that a compensation consultant was able to convince BofA that green-stamps = bonus. I’m in the wrong business.
http://en.wikipedia.org/wiki/S&H_Green_Stamps
48 = broker trainee from the newark office, pissed off that his “i work at merrill lynch” pickup line is gone. tell you what sport, wherever in merrill you work, try on a stock price at zero, and maybe your picture on the front page of the post as you walk out of your office, in shorts, with a cardboard box full of your belongings. b/c that’s EXACTLY where ML was headed – bankrupt – thanks to it’s great “culture.”
48 = broker trainee from the newark office, pissed off that his “i work at merrill lynch” pickup line is gone. tell you what sport, wherever in merrill you work, try on a stock price at zero, and maybe your picture on the front page of the post as you walk out of your office, in shorts, with a cardboard box full of your belongings. b/c that’s EXACTLY where ML was headed – bankrupt – thanks to its great “culture.”
always good for laughs: watching formerly dyed in the wool capitalist/free marketers explain why the rules of capitalism shouldn’t apply to them, just this once. just leave finance and cast your lot with the SEIU or the teachers union already, b/c we don’t need you.
@48 – is the right way to run an investment bank to lard up its balance sheet with worthless mortgage debt, then run it into the ground and destroy the equity and career prospects of your employees? if so, you’ve got BofA dead to rights. d bag.
Red Swingline stapler, Spirit Point Redemption catalog, Page 56 — 750 Points or 10 Year Service Anniversary
Hysterical posts, most of them accurate. I have to say the comments on bojangles were especially delicious. From NYC, moved to Charlotte to work at BAC. It doesn’t really matter where you work geographically (except that my taxes are 20% of what I paid in NY). Can I leverage my spirit points for a more robust severance package?
Hysterical posts, most of them accurate. I have to say the comments on bojangles were especially delicious. From NYC, moved to Charlotte to work at BAC. It doesn’t really matter where you work geographically (except that my taxes are 20% of what I paid in NY)… still sucks! Can I leverage my spirit points for a more robust severance package?
Hysterical posts, most of them accurate. I have to say the comments on bojangles were especially delicious. From NYC, moved to Charlotte to work at BAC. It doesn’t really matter where you work geographically (except that my taxes are 20% of what I paid in NY)… still sucks! Can I leverage my spirit points for a more robust severance package?
Trust me. Once you receive spirit points you’ll like them.
Trust me. Once you receive spirit points you’ll like them.
better than being a csfb md
Better then the current “Severance points” employee reward program going on…
This would never have happened at Quick & Reilly
@ 61…. no way are you taking your point to the old school Quick & Reilly the investment firm that didn’t know how to close a door let alone business and was thus consumed by the one and only BAC!
PS @ 43… in case you haven’t been to Time Square lately or anywhere else in the big apple for that matter… WE”RE there too “bitch.” Go ahead and serve yourself a nice big warm helping of that humble “apple” pie… brought to you special by the epicenter of the financial globe, yep that’s right Charlotte NC!
@ 46 – that’s right our orgins do include the former “Bank of Italy” just further proving equal opportunity in the melting pot of the world!
Since you seem to enjoy history, our orgins also include the following:
- some of our original signers include: John Hancock, Alexander Graham Bell, Francis Scott Key and the list goes on
-first bank to set up retirement fund for African American Teachers
- first bank to purchase bonds to build the Golden Gate bridge
- only bank to back up a little dream by a gentlemen name Walt Disney to fund his first animated film along with Disney Land
- inventor of the ATM and VISA
One in every five people that you pass on the street is a BAC customer… what does your company bring to the table?
@ 43…. I echo 62′s sentiments and I would get you a can of whip cream to go with the humble pie… but I’m fresh out of spirit points, spent them on a 52″ Plasma just yesterday, my bad!
@63 – They only are because the Bank of *ssholes has bought everything they can. You have created no value whatsoever. Look at your stock price since that hick Ken Lewis took over – you have a negative return – including dividends! As far as other stakeholders, how many jobs has the Mississippi Moron cut during his time at the helm? You create no value and you do nothing good for society. In short, the world would be a better place if your bank did not exist.
When you stop buying – which is pretty much now, I wonder how much business you’ll be able to pick up. No one will do business with you voluntarily.
Good luck destroying the Merrill culture as well. Merrill’s investment bank will be a shell of it former self in five years and your best retail brokers will be moving on to greener pastures.
I previously worked at LaSalle Bank and have since been bought by B of A. First thing they do- freeze promotions, cut back benefits and now I am just waiting to be laid off with a much $hittier severance plan than LaSalle had. B of A = no vision, no care for employees and are dead last in all categories that employees use to rate “happiness in job”. Anyone who tries to defend them is wasting their time, because everyone knows just where B of A ranks- dead last for employee care.
Does anybody really take these B of A defenders seriously? They are all way lower on the corporate totem pole than any other big name bank out there, so we should be feeling sad for them and how little they have. I’ve never heard anybody say “Oh B of A, theres a quality company. Let me jump ship from my company with better pay, better bonuses, better benefits, etc. to go work for crappy, red-necked B of A”.
I just quit working for this crappy company. I worked for the mortgage area and things are getting really suspicious. I am over the whole spirt point b.s. that they try to act is sooooo wonderful! Give me a break, they have virtually cut our monthly bonuses which was 1/3 of my monthly income.
Actually, about 2500 points equals about 100 bucks and you have the pay taxes on the merchandise, which is often at retail/over priced for what you can get by doing some bargain hunting. It is nice to get some recognition, but from manager to manager the recognition is inconsistent.