Bank of America – “Ken Lewis is ARROGANT”

Pros

It beats working at McDonalds

Cons

Senior management is arrogant. Ken Lewis runs this place as if it were his personal empire instead of a shareholder-owned company that is successful because of its employees and not his "leadership". Many of us own stock in the company, and his personal hunger for Merrill-Lynch caused him to pay far too much for it. That has hurt our stock and this acquisition will probably hurt our compensation and possibly our positions.

Advice to Senior Management

Ken Lewis should resign. Senior management total compensation should also be limited to a 10x multiple of some conservative formula involving the average salary across the whole corp, and the median of the whole corp. More often than not, people get to those positions more through the "good ole boy" method than by talent and hard work. There are a lot of people out there who could do Ken Lewis' job for far less money and do it more effectively. Compensation should NOT be tied to stock price. We've seen horrible examples of the depths of corruption and deceipt executives will lower themselves to when stock price is tied to compensation.