What a stupid question. One person's decision to "retire" from a major company has no financial or any other kind of impact on a city. Did this town or any other surrounding towns fold up and collapse when Hugh McColl retired. Absolutely not!! One other thing......everything doesn't revolve around the State of Charlotte. There are 99 other counties in the State of North Carolina.
How can BofA award Lewis with $72,000,000 as he walks away. I am a capitalist through and through, but making BofA his personal piggy bank has nothing to do with capitalism. If he was an owner, of BofA, I would not have a problem with it, but he invested nothing. He was just an employee for God's sake! Any ownership equity he has was awarded to him in stock grants and options. In other words he actually had no dog in the fight! The more that these directors and officers of large corporations award themselves these huge bonuses, salaries and retirement plans the greater the outcry from the masses about let's tax the rich.
Bill Gates may be the richest man in the world, but I begrudge him none of his wealth. He started Microsoft and built it into the worlds leading software company. He deserves every dime he gets! But Lewis, 15 years ago was a second rate employee at BofA and by all accounts, although he rose to become CEO and Chairman, he was still a second rate employee.
Well said TonyC.
Who gives a rats rear what happens to Charlotte. This city is so stuck on itself that its sickening.
When you can't do and you have no marketable skills you can always be a Banker
Bad for the city, bad for Charlotteans, bad for property values. I can see the HQ being moved to NY, or wherever, within the next few years, and maybe not that long. With it will go how many tens of thousands of jobs? I was hoping to get out of Charlotte myself in the next year, looks like the time to sell is now.
Wonder who Obama will pick to replace him, and how much the Compensation Czar will allow this (doubtless) superior individual to be paid. Maybe the headquarters will be moving to Chicago!
Maybe the Charlotte City Council will use this as a reason to suspend any street cars or the University line of the light rail and curb back spending in case Charlotte loses a lot of Bank of America jobs........Nah, never happen.
Whatcha waiting for Jack? Don't let the door hit ya where the good lord split ya.
Good riddance! Now, if the Bank could only get a real CEO like Jamie Dimon, that would be great.
Here is the reason Kathy is high on Jaime:
Dimon is a Democrat and worked in President Obama's town of Chicago, and after Obama took office and JPMorgan Chase repaid its bailout money more quickly than most, he became influential in the White House. (from Wikipedia)
As you can see no political slant in her!
My guess is that Dimon might be running the Treasury Dept. at some point under the Obama administration. I guess he could be CEO of BOA at the same time though. What does any of this mean for Charlotte? I have no clue.
May be a hidden good in this. Maybe BofA will move its HQ to New York. That means all of the implants here from NY and PA and NJ and MD and the northeast in general that are trying to move the South and its values and atmosphere northerly, WILL GO WITH IT!!!!
orccim, I care little about what people are, but it is important to me what people do. I have been a Jamie Dimon fan since his days at Citi, and you need only to read up on his career to realize how talented he is. I have no idea if he is a Democrat or Republican.
I have sat back and considered just how much the retirement of Ken Lewis is going to affect me. I have, after much consideration, have come up with the answer. Not one iota!
Chris, trust me, we'll be out of here as soon as we can get the house sold. Charlotte/Mecklenburg and NC state taxes are driving a lot of people out of the state. Which, on the whole is too bad. It was a good state 20 years ago when I got here, but there are places to live with reasonable tax levels and better quality of life.
Me above...seriously poor typist. lol
The Panters coach and quarterback should follow Ken's lead.
Kathy: you don't care what someone is--HA HA HA if they are not a democrat liberal like you, you have nothing good to say about them. If they are a democrat liberal like you, you think they walk on water. Stick to spell check.
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