Items Tagged with 'Kenneth Lewis'


  • Lewis Stripped of BofA Chair

    The Bank of America [stock BAC][/stock] shareholders voted to strip president and CEO, Kenneth Lewis of his position on the board of directors. Lewis is being replaced by Walter Massey, president emeritus at Morehouse College in Atlanta. Massey served as a director of BankAmerica Corporation from 1993 to 1998 and currently also works as a director of McDonald's Corporation. A total of 18 directors are now elected to the board and, vote-wise, all won by comfortable margins, according to a statement released by BofA.
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  • BofA Earnings Dive 95% in Q4

    Bank of America Corp. [stock BAC][/stock], the largest U.S. bank by assets, reported a fourth-quarter net loss of $1.79 billion, or 48 cents a share, Friday morning --  compared with net income of $268 million, or 5 cents a share, in the fourth-quarter last year. Results included Countrywide Financial, which Bank of America purchased on July 1, but not Merrill Lynch & Co., which was acquired on Jan. 1, 2009.
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  • BofA: Countrywide to Add to Earnings This Year

    Bank of America Corp. [stock BAC][/stock] kept this quarter's earnings streak going, reporting a sizeable drop in earnings that yet managed to be better than analysts had anticipated -- which has been all it's taken for investors to rally as of late. The nation's second-largest bank by assets said Monday before market open that net income declined 41 percent to $3.41 billion, or 72 cents a share, from $5.76 billion, or $1.28, a year earlier.
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  • The Changing Ethic of Homeowership?

    The Wall Street Journal has a thoughtful look at how the creative lending boom has perhaps fundamentally altered the way many Americans view homeownership. It's a change that has caught even Bank of America's CEO Kenneth Lewis off-guard to some extent:
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