BAC Shareholders Mobilize Against Lewis

Posted by Bess Levin, Feb 02, 2009, 9:14am

They're still banging out the specs but a group of BAC fractional owners, led by shareholder Jerry Finger, are planning on requesting that Ken Lewis hit the bricks, at the bank's upcoming annual meeting. Speaking on behalf of the Fingerers, Jerry told the Post that his people want the CEO and chairman role split, in addition to "various governance changes," meaning that while former Countrywide chief and current Bank of Amerillwide court jester Angelo Mozilo's job is probably safe, Lewis should be quaking in his boots. (Though sinisterly vague about what he's got in the hopper, Finger did reply "Yes, you could assume so," when asked if he was planning on proverbially sending KL home in a body bag, which would scare most CEOs, let alone the most effete among us, who maybe dye their hair.) Finger and his backup dancers, which he says include institutional investors, filed suit against BAC on January 22, on the claim that Lewis failed to protect shareholder interests when he signed them up for a tutorial in what it feels like to be ass-raped for an eternity, for the second time this year.

2Recommend this! 11Comments

Tags: Hear us roar!

Comments

1

Posted by guest , Feb 02, 2009 9:26AM

Kenny boy acquired all his skilzz from Paulson:

http://www.urbandictionary.com/define.php?term=paulson

2

Posted by guest , Feb 02, 2009 9:31AM

I have been piling up BAC stock over last few days. My vote is with you.

I want that retarded mother fucking asshole out of this company.

3

Posted by Revmachine21 , Feb 02, 2009 9:31AM

1/2 price Scotches all around when Lewis gets bounced.

4

Posted by guest , Feb 02, 2009 9:42AM

too mobile, no movement

5

Posted by guest , Feb 02, 2009 10:08AM

i agree, i'm going to load up on options for the ouster! The rest of the investing world hates this incompetent asshat as much as me, right? RIGHT?

6

Posted by guest , Feb 02, 2009 10:13AM

5 Like C, the shares are priced to take into account the likelihood of nationalization. Its beyond Lewis now.

7

Posted by guest , Feb 02, 2009 10:23AM

@ 5 - probably the only people in the world who don't hate Ken Lewis are the waitresses at Phil's Tavern and, let's face it, they only love his cash money.

http://profile.myspace.com/index.cfm?fuseaction=user.viewProfile&friendID=126960116

8

Posted by guest , Feb 02, 2009 10:58AM

BAC (like most corporations) has a drop dead date for shareholder proposals, and this deadline has passed. The dissidents can likely highjack some previously submitted proposal; but in my experience, the SEC will quietly concur (No Action Letter) if BAC excludes untmely submissions by shareholders.

Below is snipped from the 2008 DEF 14A Proxy ........

PROPOSALS FOR THE 2009 ANNUAL MEETING OF STOCKHOLDERS

If you would like to have a proposal considered for inclusion in the proxy statement for the 2009 Annual Meeting of Stockholders, you must submit your proposal no later than November 19, 2008.

If you wish to submit a proposal for consideration at the 2009 Annual Meeting, but which will not be included in the proxy statement for such meeting, you must submit your proposal no earlier than November 19, 2008 and no later than January 3, 2009.

Any stockholder who wishes to nominate a candidate for director at the 2009 Annual Meeting of Stockholders (and does not wish to have the nomination considered by the Corporate Governance Committee or included in the proxy statement for such meeting), must submit the nomination no earlier than November 19, 2008 and no later than January 3, 2009. The proposal must include the items listed on Page 10 of this proxy, and must state that the stockholder intends to appear in person or by proxy at the meeting to make the nomination.

You must submit proposals in writing to the attention of the Corporate Secretary at the following address: Bank of America Corporation, Attention: Corporate Secretary, 101 South Tryon Street, NC1-002-29-01, Charlotte, North Carolina 28255.

9

Posted by TheBlackstoneGroupie , Feb 02, 2009 11:12AM

Yesterday, I voted NO to re-election of all the board of directors of Starbucks...seems Howard Schultz would rather spend $$$ jetting to Hawaii in a private plane and spending time with Lance Armstrong than running his company with "corporate responsibility." I am so sick of all of this...and to Kenneth D. Lewis, throw him and all the board of directors of BAC out of there. "Wipe them out, all of them."~Darth Sidious

10

Posted by guest , Feb 02, 2009 11:40AM

Clip of Finger and his backup dancers practicing their routine for the shareholder meeting below:

http://www.southparkstudios.com/clips/75598

11

Posted by guest , Feb 02, 2009 12:13PM

Too finger, didn't bang.

Rosey Palm


and this peanut recall is still driving me nuts!


SPODE

Post Your Comment