Bank of America Turns A Profit


It's just under a million which might not seem like that much but I can think of a certain someone who wouldn't thumb his nose at a mill right about now. The Observerreports that Bank of America has sold its pad at the Time Warner Center, which will mean one of you will have to put Ken Lewis up for the night when he flies up to NYC for one last hurrah as CEO, which will take place the entire month of December.

On Friday, just after Bank of America announced a billion-dollar loss in the third quarter, a deed in city records showed that the massive firm had sold off its corporate apartment in the Time Warner Center for $7.2 million. On the bright side, it cost $6.35 million to buy three years ago.

Especially on a dark afternoon like this one, you stare up at the twin-towered, 53-story, 2,800,000-square-foot, sharp-edged, nefariously shiny Time Warner Center and wonder what really goes on in the multimillion-dollar condos. According to James B. Stewart's 19,148-word epic on the financial world's collapse, it was in this Bank of America sprawl--on the north tower's 57th floor--that chief Ken Lewis met Merrill Lynch's John Thain on Saturday, Sept. 13, 2008, to talk about a merger.