The Charlotte, N.C.-based bank’s board still has to verify Lewis’ recommendation, the reports said.
Analysts polled by Thomson Reuters, on average, forecast fourth-quarter earnings of 15 cents per share on revenue of $20.9 billion, and 2008 earnings of $1.23 per share on revenue of nearly $78 billion. Bank of America is expected to report earnings Jan. 20.
Lewis confirmed the decision in an e-mail sent to his eight direct reports Tuesday afternoon. Bank of America spokesman Scott Silvestri confirmed Lewis’ actions and recommendation.
The move puts Lewis on a long list of CEOs in the U.S. financial services industry to decline bonuses this year.
Bank of America is among several financial institutions who have received financial assistance from the U.S. government...
Awesome...
-
-
-
-
- AwesomeJosh
- added this
- added January 07, 2009
- flag
-
Wow, you don't see that happen often. Chances are he already lives fairly well on what he is making right now.
-
-
-
-
- SHAWN_RITTIMAN
- 6 months ago
-
-
BFD... Steve Jobs is worth tens of millions and takes one dollar a year from Apple.
if those guys had any morals OR cojones, they'd do a $1/year for a year or two, with no bonuses or stock options or anything... any of them who'd been taking in over a Mil a year or has a net worth of more than 10-20 Mil.
imnsho.
just a matter of respect. -
seems commendable on the surface, but surely he's doing it more for the sake of future profits and his own reputation.
-
Whoa! How benevolent. No million dollar bonus (or more!) for people who already make millions! I guess a million doesn't go as far as it used to.
I think any company who has received government bailout money should be prosecuted if they hand out bonuses to executives. -
Ah shucks that was awfully nice of him
-
Bravo!! NOW more CEO's need to follow suits.
-
-
-
-
- unashamed_muse
- 6 months ago
-
-
Hey, I didn't get a bonus either! Small world.
-
How noble of them.
-
I have two things to say to some of you... saying "big deal" "He should take a $1 salary" "He already makes millions"... First off, when you can operate and grow a multi BILLION dollar company, then you can complain about how much they pay you. Second off, Bank of America is one of the only Banks that wasn't failing, and they were asked by the US government to buy Countrywide and Merrill Lynch to keep them from collapsing, and most likely curb even more failure by the financial sector... So on that note, get your nay saying, negative head out of your Ass and stop trolling. You don't know WTF you're talking about.
-
why is this news it should happen all the time!
