10Vote!
The Business Insider (Free subscription) | yesterday
TARP-embattled banks Citigroup (C) and Wells Fargo (WFC) are in a heated debate with the U.S. government over how much capital the banks will be required to raise in order to exit TARP relief: WSJ : Officials at Citigroup and Wells Fargo have prodded U.S. officials to let them proceed under similar terms, according to the people familiar with the matter. Bank officials are worried they could be at...
3Vote!
Choosing Democracy (Free subscription) | yesterday
Joint Legislative Committee on the Master Plan . Dec.7,2009. Education basics: Since 1990, the legislature and the state funding have failed to adequately fund k-12 education. For evidence, see the Williams case. The legislature and the governor have failed. The just published paper by PPIC notes that 40% of the California jobs will require a college education. We are not preparing these future professionals....
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The Hotline on Call (Free subscription) | yesterday
By Reid Wilson Ex-state Sen. Cal Cunningham (D) announced today he will run against Sen. Richard Burr (R-NC) next year, giving Dems a solid recruit against the GOP incumbent who tops their target list. "For years, while our families were watching their jobs disappear and their quality of life evaporate, Richard Burr was voting right down the party line with George Bush to bankrupt our country,...
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Charlotte Observer: Breaking News (Free subscription) | yesterday
(By Mark Johnson, mjohnson@charlotteobserver.com) Former state Sen. Cal Cunningham, of Lexington, officially entered the race for the U.S. Senate this morning. Cunningham faces two already-announced candidates for the Democratic nomination to challenge U.S. Sen. Richard Burr, a Republican. Both Secretary of State Elaine Marshall and Durham lawyer Kenneth Lewis have been campaigning for weeks.
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The Rothenberg Political Report (Free subscription) | yesterday
By Stuart Rothenberg Over the past few weeks, North Carolina Secretary of State Elaine Marshall (D), who is challenging Sen. Richard Burr (R-N.C.), has been on a public relations offensive. First, there was a Lake Research Partners memo on incumbent Burr’s standing with state voters. Then there was a “Senate Primary Analysis” from Thomas Mills, who runs a North Carolina-based communications...
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Charlotte Observer: Viewpoint (Free subscription) | 12/06/2009
From William Atwood, executive director of the Illinois State Board of Investment: Historically, management at Bank of America has tended to be inward looking and insular - dismissive of external inputs, including those from its own shareholders. As a result, the board was ill-prepared for proxy challenges this year from those same shareholders, and was caught flat-footed as the company was forced...
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The Huffington Post (Free subscription) | 12/05/2009
A leading bank analyst says the regulators who allowed Bank of America to repay its $45 billion in government bailout funds made a big mistake because the bank may well need that money soon to withstand the next wave of bad loans, the withdrawal of federal subsidies, and the possible reevaluation of assets. Wall Street celebrated the bank's liberation from onerous conditions that accompanied the bailout...
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DealBreaker (Free subscription) | 12/04/2009
When you owe the government so much money that they are basically calling the shots, it's not a good idea to be on their bad side. Hell may have furies worse than Tim Geithner scorned, but the little guy's ankle-biting was bad enough for Ken Lewis & Co. So the august wise men of Charlotte got together and came up with a new plan: Kiss more ass . In late August and early September, the bank made...
5Vote!
Bull City Rising (Free subscription) | 12/04/2009
DPD in-car cameras deal questioned; former mayor Gulley endorses Ken Lewis' Senate bid; Old Bull faces more foreclosure heat; and good financial news for the American Dance Festival and Quintiles. Visit http://www.bullcityrising.com for the full article.
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The Business Insider (Free subscription) | 12/04/2009
On March 18 of this year , Ken Lewis told the Charlotte Observer that his bank would likely pay back TARP in 2010, or perhaps even this year. When we read it, we really thought that he, frankly, sounded like he was on some illegal substance. Remember, March 18 was truly the pits, just a few days after the bottom, when the world was in the throes of AIG outrage, pundits were still talking about how...
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San Fransisco Chronicle (Free subscription) | 12/04/2009
Bank of America Corp. said Thursday it raised $19.29 billion in a complex share sale to help pay back $45 billion in government bailout funds. Repaying the money could help the ailing bank attract a new chief executive to replace Ken Lewis by removing the... Bank of America - Ken Lewis - Executive - Business - Bank
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Donklephant (Free subscription) | 12/04/2009
In Feb 2009, the company reported this… Bank of America Corp. expects to pay back U.S. Treasury relief funds within the next three years, and “categorically” does not need further government funding, Chief Executive Ken Lewis told CNBC’s Maria Bartiromo in a televised interview Friday. Bank of America has received up to $45 billion in funds [...]
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SeekingAlpha.com (Free subscription) | 12/04/2009
Felix Salmon submits: It’s December, which means it’s bonus season, and time for more than the usual amount of bellyaching about pay. Will Bank of America’s ( BAC ) TARP repayment give it a bit more wiggle room in terms of CEO compensation, thereby broadening the field of potential successors to Ken Lewis? Will General Motors be able to find a CEO when it’s state-owned and...
5Vote!
DealBreaker (Free subscription) | 12/03/2009
Wells Fargo doesn't much care what the government thinks. It heard about Bank of America paying its TARP money back, all $45 billion. But John Stumpf, Dick Kovacevich & Co. don't much care about that, either. They'll pay their TARP money back whenever they goddamn well please . They didn't want it in the first place , so they're going to take their sweet time, being careful to wrap each of the...
5Vote!
DealBreaker (Free subscription) | 12/03/2009
So! Now that the government doesn't have its foot up Bank of America's ass, is there anyone out there who'd like to run the place? Literally no one wanted the CEO job up until yesterday, but with the TARP repayment, some people are thinking this is now a dream gig any girl would kill for, and that the board really won't even have to go looking anymore-- just sit back with their arms behind their head...
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broadwillsmith2985 | 11/10/2009
Last year, Oprah Winfrey earned $275 million–more than those three Wall Street rogues Ken Lewis, Dick Fuld and John Thain combined–yet no one is calling for her head. Her TV show and O, her magazine, remain wildly popular. She moves entire industries. Twitter’s traffic surged 43% after she tweeted for the first time. A recommendation from her turns obscure authors and products into best-sellers
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