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Bank of America’s gift to former MBNA CEO…
footnoted.org - 3/2/2009
Bank of America’s gift to former MBNA CEO…
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Late Friday, Bank of America (BAC) filed its 10K and while there were lots of interesting things in the filing, the thing that jumped out at me was this agreement with former MBNA CEO Bruce Hammonds. Hammonds, whose retirement from Bank of America was announced in December, received $6.8 ...
baselinescenario.com - 2/26/2009
No, Wait! You Got It Backwards!
— baselinescenario.com — There is nothing inherently wrong with convertible preferred stock. In Silicon Valley, for example, venture capitalists almost... always invest by buying convertible preferred. The idea is that in the case of a bad outcome, the VCs are protected, because their shares have priority over the common ... (more) No, Wait! You Got It Backwards!

Comments vote down jamesykwak jamesykwak posted 2/26/2009posted this
Pimco Said to Advise Bank of America as It Raises Debt Funds
bloomberg.com - 3/2/2009
Pimco Said to Advise Bank of America as It Raises Debt Funds
— bloomberg.com — March 2 (Bloomberg) -- Pacific Investment Management Co. was hired to advise the U.S. government on the... value of $118 billion of assets guaranteed in the bailout of Bank of America Corp. , said two people with knowledge of the decision. Pimco will ... (more) Pimco Said to Advise Bank of America as It Raises Debt Funds

Comments vote down Yahoo! Finance: Tech Ticker found this 3/2/2009found this
reuters.com - 2/27/2009
Top N.Y. legal officer demands bonus list from BofA CEO
— reuters.com — NEW YORK (Reuters) - New York's top legal officer on Thursday demanded Bank of America Corp Chief... Executive Kenneth Lewis provide names of Merrill Lynch executives who received 2008 bonuses, and how much they got, before the bank's takeover of the ... (more) Top N.Y. legal officer demands bonus list from BofA ...

Comments vote down FT Alphaville found this 2/27/2009found this

Blog Reactions

Dealbreaker:  Pretty Sneaky, Sis

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Blog Reactions

Pretty Sneaky, Sis
Dealbreaker — ... to another top executive. Certainly, these terms were negotiated long ago, and the changes to what was originally a retention agreement are related to the retirement of Hammonds in December, but this looks like trouble. (After all, the cancellation agreement contains the dreaded phrase "...the Executive shall have access to aircraft for personal travel under specified guidelines for a limited period of time in order to transition from MBNA practices....") Bank of America's gift to former MBNA CEO... [Footnoted.org] ...

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