Spread Bets on Individual Equities

231437 Resource 133538 120646 120646 1241101201716 1241101261021 Controlled Bank of America Shareholders Send Message to Ken Lewis

Lewis no longer chairman of the board

Until now, the CEO and Chairman positions at Bank of America have been combined into one job, done by one person. Recently, that one person has been Ken Lewis. That changed with the most recent vote at the BofA shareholder meeting. The shareholders voted to: <ol> <li>Split the job of CEO and Chairman into two jobs.</li> <li>Deprive Ken Lewis of the Chairman job, instead putting in Walter E. Massey.</li> </ol> Even though <a title="Ken Lewis, Bank of America, Merrill Lynch, stock market, spread bets individual equities, spread betting stock market" target="_blank" href="http://www.bloggingstocks.com/2009/04/30/ken-lewis-stripped-of-his-chairmanship/">Ken Lewis will remain CEO</a>, losing the chairmanship undercuts his authority. It also sends a clear message that shareholders are less than pleased with Lewis' performance over the past year. Especially concerning has been the scandal surrounding the acquisition of Merrill Lynch. Did Lewis mislead shareholders? And did he do it in response to pressure from then-Treasury Secretary Paulson? The news isn't hurting Bank of America stock at all; like the rest of the <a title="Ken Lewis, Bank of America, Merrill Lynch, stock market, spread bets individual equities, spread betting stock market" target="_blank" href="item/231431">U.S. stock market</a>, BofA is rising. 9 application/xml false Bank of America Ken Lewis Merrill Lynch spread bets individual equities spread betting stock market stock market Spread Bets on Individual Equities Spread betting on the stock market http://www.gftuk.com/land/index.asp?aid=53 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.0.10) Gecko/2009042315 Firefox/3.0.10 GTB5 127.0.0.1 127.0.0.1 mmarquit 66.182.66.2 false true false false true 133538 blog blogsite/GFTUK/web