• 07 Sep 2011 at 11:48 AM

Dick Bové Looks Forward To Getting Back In The Ring With Sallie Krawcheck, Estimates Bank Of America Will Lay Off 30,000 Employees

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Earlier this morning, Rochdale analyst Dick Bové stopped by CNBC to chat about what’s been a’ poppin’ at Bank of America. First off, that report a few weeks ago about how the bank will be relieving 10,000 employees of their duties? According to Bové, that’s just the start. “You’re likely to see 30,000 people fired at Bank of America in the next 24 months,” he told the Squawk Box gang. Why the need for so many cuts? “The bank has made a policy decision to shift emphasis from the consumer bank to the commercial bank, because the regulations are more onerous on the consumer side, that’s why.” And what of yesterday’s unceremonious Krawcheck canning? Dick is sorry for his gal-pal but sees the firing as an opportunity from which they both stand to benefit.

“I think Sallie Krawcheck is fabulous. She was never in line to be the head of Bank of America. She was never in line to be the head of Citigroup. She’s just an extraordinarily talented person who has been moving into positions that maybe don’t fit with her talents as much as they should…I think she should be back in this business, analyzing banks, which is what she knows how to do. She was a fabulous competitor. She was smart, bright, she was innovative and she knew how to do this job properly.”

Comments (18)

  1. 1
    Posted by VonSloneker | September 7, 2011 at 12:24 PM

    Pshh, why don't you and Sally get a room Dick. Geez.

  2. 2
    Posted by geoffgeoffgeoff | September 7, 2011 at 12:25 PM

    Needs more miniature giraffe.

    -Guy That Prefers Minimal Lighting, Red Ties, And Two Screens

  3. 3
    Posted by Sally's crotch-check | September 7, 2011 at 12:26 PM

    like that roaming gnome has a snowball's chance in hell of even getting to whack off in her shadow

  4. 4
    Posted by slainwaxwing | September 7, 2011 at 12:38 PM

    Upon hearing that Dick Bove thought Krawcheck was never a good fit as head of BAC, BAC's board of directors immediately begged her to return as CEO.

  5. 5
    Posted by Tank the Frank | September 7, 2011 at 12:39 PM

    In other news Dick Bove is reported to be quite the manscape artist.

  6. 6
    Posted by AIG Quant via LEH | September 7, 2011 at 12:57 PM

    Hey Sally!

    -dick

  7. 7
    Posted by guy 2 cubes over | September 7, 2011 at 1:02 PM

    "She was smart, bright, she was innovative and she knew…"

    She was fired, not fired.

  8. 8
    Posted by Ron Jeremy | September 7, 2011 at 1:20 PM

    I hear it's Nudes-a-Popping over at BA

  9. 9
    Posted by Rachel Uchitel | September 7, 2011 at 1:39 PM

    Sally, if I may give you some advice as a peer. Dick is correct, a lot of times a significant loss like a job, a sugar-daddy, or fiance' can become a tremendous benefit in one's personal life. It should be viewed as an opportunity.

  10. 10
    Posted by nachocheese | September 7, 2011 at 2:03 PM

    OK—-let's see……guess I was taken in again….thought all this BAC stuff might be GOOD for the stock, but, since Dick(stay thirsty my friends), likes the call and thought the stock a while ago would hit the 60s,….guess BAC is screwed…how do they actually give this guy a check?

  11. 11
    Posted by Anonymous | September 7, 2011 at 2:28 PM

    Just pulled this job title off LinkedIn:
    Lead Strategist and Senior Enterprise Architect, CSBBTO Vice President Southeastern Region, Merrill Lynch Pierce Fenner & Smith a division of Bank of America Private Wealth Management.
    I don’t think lopping off fat is going to terribly difficult.

  12. 12
    Posted by Guest | September 7, 2011 at 2:47 PM

    Sje left to monetize the golden parachute before the conpany ran out of money to pay it. Why is he trying to make it out as a job performance thing. Pure economics.

  13. 13
    Posted by Polly Perkins | September 7, 2011 at 2:52 PM

    Can someone please provide a translation? I don't speak squirrel.

  14. 14
    Posted by early_hominid | September 7, 2011 at 3:36 PM

    Agreed.

    - Phil Davison, the gift that keeps on giving.

  15. 15
    Posted by Dick Bove | September 7, 2011 at 4:15 PM

    I loves me a woman with a thick veiny neck. I'd hit those Krawcheecks all night long.

  16. 16
    Posted by Ken Lewis | September 7, 2011 at 5:26 PM

    Dear Brian,

    If I was still CEO I would have fired your ass!

    Ken

  17. 17
    Posted by Jax | September 7, 2011 at 11:12 PM

    Dick is such a shmuck.. Doesn't know jack shit

  18. 18
    Posted by cle bundle | September 8, 2011 at 9:41 AM

    They need to start releasing so of that cash back into the economy!