Ken Lewis tossed out

Well, sort of. He stays on as Bank of America CEO, but shareholders narrowly voted to strip him of his chairman's title. The new chairman is Walter E. Massey, who has served as a non-executive director. Lewis, of course, has been under attack for the acquisitions of Merrill Lynch and Countrywide. Some shareholders have been especially peeved at his decision to keep quiet about Merrill's deteriorating condition before the deal was completed. (WSJ, Bloomberg)


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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