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October 12, 2008 10:55:43 AM CDT


Stories related to: Kenneth Lewis

Stories

3 Stories

  • September 2008
    • Bank of America CEO Lands His Biggest Fish Yet

      Bank of America CEO Lands His Biggest Fish Yet

      (Newser) - Like predecessor Hugh McColl, Bank of America CEO Kenneth Lewis loves enormous deals. His 7-year reign has seen flashy conquests adding up to more than $150 billion, but never has he bagged a bigger trophy than Merrill Lynch, Reuters reports. The deal should fulfill Lewis’ oft-frustrated ambition to make BofA, already the country’s top retail bank, its top brokerage as well. More »

  • July 2008
  • April 2008
    • Bank of America Posts 77% Dive on $6B in Writedowns

      Bank of America Posts 77% Dive on $6B in Writedowns

      (Newser) - More than $6 billion in subprime writedowns sent Bank of America profits skidding for the third straight quarter today, as the nation's second-largest bank posted a 77% decline in net income for the first quarter. Earnings were $1.21 billion, down from $5.26 billion a year ago, reports Bloomberg. The losses exceeded analysts’ expectations by some 44% and sent market futures into a slide this morning. BofA—in the process of acquiring troubled home lender Countrywide Financial—said revenue slipped 6%. More »

      Tags

      mortgage crisis   Bank of America   corporate earnings   writedowns   Countrywide Financial   Kenneth Lewis

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