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9th Grader Holds Brian Moynihan's Feet To The Fire

Natalie Clark v Bri-Moy, Round 2.
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Life hasn't been so easy for Brian Moynihan since he took over as Bank of America's CEO in 2010. The abuse is constant, fellow CEOs are constantly giving him sh*t, not even his IT team shows him respect, no one can show him how to pass a stress test, and tasks as simple as getting his parking validated feel like hand-to-hand combat. But none of that compares to the now yearly ritual he undergoes of having his ass handed to him by a 9th grader named Natalie in front of a bunch of shareholders.

The teenager said she has given more thought to the stock price recently, since she has begun considering whether her shares could help pay for college. At the meeting, Miss Clarke rose to ask the CEO what the bank is doing to become more efficient, a metric where it lags behind its peers.....Miss Clarke, who lives in Harrisburg, N.C., with her parents and schnauzer-terrier mix pet dog, says she doesn’t understand why more shareholders don’t take an active interest in the companies they own. “There’s a lot of people who own stock in Bank of America,“ Miss Clarke said, but at the annual meeting, “there’s barely enough to fill half a ballroom at a hotel.” About 100 to 150 people attended the meeting. In 2002, around the time that Miss Clarke received her shares, Bank of America’s shares traded at an average of nearly $34. They fell seven cents Wednesday to $15.02. “You and I are both looking at some pretty bad numbers,” Miss Clarke told Mr. Moynihan.

The Latest Activist Investor at Bank of America: A Ninth Grader [WSJ]


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