BAC fractional owner Jerry Finger began banging out a plan at the beginning of the year to send Ken Lewis home in a body bag and late Friday a few more details were revealed. Having already filed suit against Bank of Amerrillwide on the grounds that KL failed to protect shareholder interest when he threw caution to the wind and got involved in a series of escalating dares that resulted in the acquisition of Merrill Lynch, Finger is now encouraging his fellow shareholders to put on their black ski masks and take Lewis out, asking the SEC "for permission to run a "vote no" campaign without formally soliciting other shareholders by proxy."
Finger and his cronies are also seeking to shutdown the reelection of lead outside director, O. Temple Sloan and chairwoman of the bank's asset-quality committee, Jackie Ward. Though some think Finger and Co. would be mollified by the creation of an independent chair position prior to the annual meeting, Finger's son Jonathan believes he and his father have the support of the bank's large institutional shareholders, and can get this thing done.
A spokesperson for BAC said that the firm has "met with (Jerry) Finger several times to hear his concerns and have attempted to address them," though obviously not that hard, since K to the L is still gainfully employed, despite trying his darndest to get fired.
BofA CEO Shouldn't Be Chairman, Big Investor Says [Reuters]