• 20 Apr 2009 at 2:06 PM

Are Ken Lewis’s Days Numbered?

By Equity Private

Sure, Bank of America beat the expectation they were going to report ‘bleeding out the ass’ level earnings for the first quarter but some people, like shareholder Jonathan Finger, are still banging on with their intent to throw Ken Lewis out on his ass. Ahead of the firm’s annual shareholder meeting on April 29, various groups are making various demands, among them a) separate the CEO and chairman role, and strip Lewis of the latter b) take Lewis out of the CEO seat c) some sort of elephant walk involving K to the L, his lieutenants and O. Temple Sloan. The Boone’s connoisseur has gone back and forth on whether we’ll have to drag his dead lifeless body out of the place or if he’ll go willingly, an inconsistency that can probably be best attributed to lack of sobriety during interviews (and business hours in general, which we have no problem with). Anyway, since we hate surprises, let’s just determine what’s going to happen now:

Comments (11)

  1. 1
    Posted by guest | April 20, 2009 at 2:21 PM

    I’ll definitely be there
    - john thain

  2. 2
    Posted by guest | April 20, 2009 at 2:32 PM

    If they want to punish him, they should force him to stay and take a $1.0000000 per year salary and clean up the pile of crap he pushed out. He probably would love it if they let him go right now…golf season starts soon…

  3. 3
    Posted by guest | April 20, 2009 at 2:56 PM

    The way you punish a banker is make him/her approve all signature loans with a smile and no golfing until 5:00 pm or later.

  4. 4
    Posted by guest | April 20, 2009 at 3:06 PM

    dffrtth

  5. 5
    Posted by guest | April 20, 2009 at 3:06 PM

    Its not over till Mike Mayo says its over. Oh and if there is any doubt, I’m being sarcastic.

  6. 6
    Posted by guest | April 20, 2009 at 3:11 PM

    I haven’t heard the term “elephant walk” used since I was a pledge.

  7. 7
    Posted by guest | April 20, 2009 at 4:41 PM

    Great question and it took me a minute to decide which is the most likely outcome. I suppose it depends on how much boone’s farm our man KL decides to guzzle before The Big Show (I suggest he move to TBird because it doesn’t leave such a nasty hangover).
    More booze = greater and greater fantastical stories. “I think Countrywide was one of the great acquisitions we have made.” or “the investment bankers are fittin’ right in with my Charlotte peeps.”

  8. 8
    Posted by guest | April 22, 2009 at 8:56 AM

    Ken Lewis must be ousted for his purchase of ML and for allowing the billions of bonus dollars awarded for people doing a terrible job. My BAC portfolio is down 75%.

  9. 9
    Posted by guest | April 22, 2009 at 8:57 AM

    Ken Lewis must be ousted for his purchase of ML and for allowing the billions of bonus dollars awarded for people doing a terrible job. My BAC portfolio is down 75%.

  10. 10
    Posted by guest | April 30, 2009 at 6:31 AM

    Countrywide was the only good move the guy made recently. It’s the real money maker over there in a parent company filled with no one who can make a decision, only people paid to sit around invent projects and think they’ve covered everying before they can act on anything! Time passes people like that by in leaps and bounds, ultimately. How’s Six Sigma working for ya now Ken…?

  11. 11
    Posted by guest | April 30, 2009 at 6:31 AM

    Countrywide was the only good move the guy made recently. It’s the real money maker over there in a parent company filled with no one who can make a decision, only people paid to sit around invent projects and think they’ve covered everying before they can act on anything! Time passes people like that by in leaps and bounds, ultimately. How’s Six Sigma working for ya now Ken…?

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