Or he might keep his job. Who knows, really? What we do know is that the Bank of Amerillwide CEO is scheduled to meet with the board tomorrow, and 24 hours is more than enough time for *someone* to leak evidence of the scatological variety to Charlie Gasparino that says KL’s gotta go. According to NAB bank analyst Nancy Bush, who prognosticated Friday that Lewis would be gone by the end of the week, “We cannot rule out the possibility…that the roles of Chairman and CEO might be separated and a new CEO named in the near term, as we think that it is highly unlikely that large shareholders and other important constituencies are going to be happy with the preservation of the status quo.” Either way, you can be sure to find Lewis here post-meeting, with former Countrywide CEO and current BAC wingman-in-residence Angelo Mozilo.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Attorney General Cuomo subpoened Thain as regards the bonuses.
All the FA trainees got laid off yesterday at MER/BAC here.
#3,per Gasparino on CNBC, Breaking News.
And who will take the post? Any spec?
Memo to BofA board,
1)Check for testacles
2)If you answered yes on step one proceed to step 4
3)Resign
4)Fire Ken Lewis
Thank you,
couldn’t happen to a nicer or more incompetent individual.
does this qualify as rumor-mongering for chaz? what a baffoon!
@5 – I nominate john kanas or hugh mccoll, take your pick.
who’s getting fired at MER/BAC?
Can someone please tell Larry Kudlow that shouting down everyone else who tries to talk does not do anything to increase his relevance?
No complaints here…
@9 SHUT UP! EVERYTHING THAT I HAVE TO SAY IS IMPORTANT
@9 I think Kudlow is a little deaf with onset of senility. He is old old school where the loudest one wins the argument.
The Martin Act?
Did they know this was coming, hence, the boot?
Load up on BAC calls if they announce a Lewis ouster.
9 here – Jesus! Gasbag and Kudchew trying to have a shout-down match is going to make me switch to FoxBiz News. It’s like watching Peep Jousting – just waiting for one of them to pop and make a huge mess, and you know there’s no nutritional value in the result.
Tried and fired in the media by Gasbags?
Lewis should be fored
Do you think the board will reach out to Oprah for CEO?
@17 he should be fired too
12 Or maybe all that coke he snorted fried his brain.
“peep jousting”
Brilliant!
@9, he probably keeps a copy of “How to win friends and annoy the shit out of people” on his commode at home.
The comments this morning are absolutely sub-par. Amateur, unfunny. Who are you people.
@23 – that you kenny? perhaps you should have IT block db for the guys/girls still left…
If Lewis is gone, does that mean they’d get rid of that two-bit, hack used car salesman Mozillo as well and sell Countrywide in a fire sale? That right there might be worth a $3 or $4 a share increase.
@7
Yes, Lewis appears to an idiot for getting hosed by Thain. But you should reserve you comment on incompetence until Pandit and Parsons are finished blowing up C. Which should be somewhere in fourth quarter of 2009.
Hopefully someone mentions that the Sham-Wow won the CNBC As Seen on TV contest.
I haven’t seen this level of vicious and political corporate infighting since the days of John Gutfreund.I’m getting all misty eyed, as that shark got his just desserts, and was reduced to having lunch with Michael Lewis.
Seriously, people. Nobody in that board room has the guts to fire Ken Lewis. He rules by fear and has his back protected by his ex-marine cronies.
By the way, why was John Thain so surprised by his firing. Ken Lewis has acquired over 20 institutions since he headed Nations Bank. He has fired the CEO’s of all the acquired co’s within a very short time after completion of the merger. That’s his MO. (Mazillo might be an exception)
@28 he may just fire himself!
Seriously, people. Nobody in that board room has the guts to fire Ken Lewis. He rules by fear and has his back protected by his ex-marine cronies.
By the way, why was John Thain so surprised by his firing. Ken Lewis has acquired over 20 institutions since he headed Nations Bank. He has fired the CEO’s of all the acquired co’s within a very short time after completion of the merger. That’s his MO. (Mazillo might be an exception)
@25 – point taken, but there are others. I can’t wait to listen to wfc’s pre-recorded message tomorrow (they are too good to have a live call where you can actually ask questions of management). they have been hiding behind a veil of lies ever since the crisis started. they act like their books don’t stink just like everyone else.
riddle me this, how can you have the most exposure to two of the worst housing markets (ca and fl) and still maintain the lowest loan loss reserves relative to the the other big boys? at some point, the closet door won’t be able to close then all hell is going to break loose…even warren is limited in his ability to prop up this house of cards.
“Oh, Kenny, you won’t see him no more.”
Just in-
Mazillo spotted at Palm Beach Tan on Park Rd in Charlotte…developing
@33 – I thought the moz only went to west cost tan, do they not have a shop in char char?
@34 – closest thing to West Coast tan in CLT is Hollywood Tan. Apparently the PB Tan shop offers a full stand up spray tan, hence Moz’s patronage.
Lewis can lick my sack