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RT @CNBCtopStories: CIT Group Picks John Thain, Ex-Merrill Boss, as New CEO http://cnbc.com/id/35287664 $BAC $CIT $IEM $MER #CEOsCFOs...
BAC
Great choice RT @CNBCtopStories: CIT Group Picks John Thain, Ex-Merrill Boss, as New CEO http://cnbc.com/id/35287664 $BAC $CIT $IEM $MER
BAC
http://chart.ly/4tt75d $BAC - hang man on 200 ma, should hold here at least temporarily
BAC
RT @CNBCtopStories: CIT Group Picks John Thain, Ex-Merrill Boss, as New CEO http://cnbc.com/id/35287664 $BAC $CIT $IEM $MER #CEOsCFOs #Bank
BAC
RT @JasonBGordon - please retweet... best post ever http://brokerz.com/_a14/ $SPY $UPRO $SPXU $FAS $FAZ $XLF $IWM $DELL $JPM $BAC $WFC...
BAC
RT @JasonBGordon - please retweet... best post ever http://brokerz.com/_a14/ $SPY $UPRO $SPXU $FAS $FAZ $XLF $IWM $DELL $JPM $BAC $WFC...
BAC
$BAC BofA / Merrill out with note saying Canada is the next central bank to hike interest rates. details: http://twitterurl.net/i/1ru $$
BAC
http://chart.ly/yh64c6 $BAC - Held within a base. Above avg volume hammer on friday. #worden
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RT @theback9: Bank of America Corp $BAC Credit Stabilizing and $3.00 Earnings Power – Reiterate BUY( I do not agree with this) http://bit.
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Bank of America Corp $BAC Credit Stabilizing and $3.00 Earnings Power – Reiterate BUY( I do not agree with this) http://bit.ly/cHwdRw $$
BAC
Bank of America Corporation $BAC Went Up Over 1%. 2/8: Insider Trading: http://bit.ly/9zqlPm
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@cwhite24 @Don_Datta_ I talked 2 the seller 4 them foams ystrday thr still not sure if thr gettin em dey said I cud wait or get my $bac
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RT @CGasparino: Good WSJ Op-Ed on NY AG vs former $BAC chief Ken Lewis; I've made of the same points re: Cuomo's role in housing crisis http
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RT @CGasparino: Good WSJ Op-Ed on NY AG vs former $BAC chief Ken Lewis; I've made of the same points re: Cuomo's role in housing crisis http
BAC
RT @CGasparino: Good WSJ Op-Ed on NY AG vs former $BAC chief Ken Lewis; I've made of the same points re: Cuomo's role in housing crisis http
BAC
Good WSJ Op-Ed on NY AG vs former $BAC chief Ken Lewis; I've made of the same points re: Cuomo's role in housing crisis http://bit.ly/bzLXUl
BAC
Bank of America Corporation $BAC Went Up Over 1%. Eastbrook vote raises ethics question for WHA board chairman: http://bit.ly/cv2gqB
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Bank of America Corporation $BAC Went Up Over 1%. Eastbrook vote raises ethics question for WHA board chairman: http://bit.ly/97ZRaX
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I put all my eggs into $CENX and $BAC today. If CENX goes to above $30, I am a millionaire!!
BAC
NYT Dealbook: Davidoff: "At Bank of America, a Settlement but No Closure" looks at #corpgov "reforms" at $BAC - http://n
BAC
RT @JasonBGordon - Post Market Analysis at http://brokerz.com/_vfE/ $SPY $DIA $XLF $IWM $QQQQ $UUP $GLD $UPRO $FAS $FAZ $BAC $JPM $GS ...
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@LaurenLaCapra $bac Merrill bankrupted Orange County, CA 1.5 times!
BAC
Bank of America-Merrill Suits Have Stacked Up Over Past Year http://bit.ly/dkrog8 $BAC
BAC
Couldn't resist to take some profit today sold $BAC @$15 gain $347.44 tried sell $AAPL but missed the $16 mark stupid reception on iPhone.
BAC
$AKS $BAC $X $PBR, and many more, your welcome... if you averaged down and had patience, you made a killing, congrats #stocks
BAC
$AKS $BAC $X $PBR, and many more, your welcome... if you averaged down and had patience, you made a killing, congrats #stocks
BAC
Been on road to Tahoe finally got reception to do some trades off iPhone. $BAC 11.5K @ $14.56. Might have hold this til Monday. Snowboard!!!
BAC
Haiku abt a "bank out of Charlotte / That considered investors their harlots" (not advocatng, just giggling at it) http://bit.ly/c
BAC
$BAC (Bank of America Corp) $14.49 crossed its 1st Pivot Point Support #emppv #stocks http://empirasign.com/l/k8he.htm
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Buzzy's thoughts on $BAC http://ow.ly/14jEG #stocks

Bank of America Corporation - BAC Insiders

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Bank of America Corporation - BAC information

Bank of America Corporation, a financial holding company, provides a range of banking and nonbanking financial services and products in the United States and internationally. Its Global Consumer and Small Business Banking segment offers savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, and checking accounts; U.S. Consumer and Business Card, unsecured lending, and international card; consumer real estate products, including mortgage products for home purchase and refinancing, reverse mortgage products, and home equity products; and insurance services. The company?s Global Corporate and Investment Banking segment provides commercial and corporate bank loans, indirect consumer loans, real estate lending products, and leasing and asset-based lending products for banking clients, middle market commercial clients, multinational corporate clients, public and private developers, homebuilders, and commercial real estate firms; advisory services, financing, and related products for institutional investor clients in support of their investing and trading activities; debt and equity underwriting, merger-related advisory services, and risk management solutions; and treasury management, trade finance, foreign exchange, short-term credit facilities, and short-term investing options for correspondent banks, commercial real estate firms, and governments. The company?s Global Wealth and Investment Management segment offers investment and brokerage services, estate management, financial planning services, fiduciary management, credit and banking expertise, and diversified asset management products to institutional clients and high-net-worth individuals. As of December 31, 2008, the company operated approximately 6,100 banking centers and 18,700 automated teller machines. It has a strategic alliance with Avjet Corporation. The company was founded in 1874 and is headquartered in Charlotte, North Carolina....
www.bankofamerica.com
283,717 Employees
Founded in 1874

BANK OF AMERICA CORP (BAC:NYSE)

LAST $15.37 USD
CHANGE TODAY +0.18 1.18%
VOLUME 232.9M
As of 8:04 PM 01/28/10 All times are local (Market data is delayed by at least 15 minutes).

Snapshot of BANK OF AMERICA CORP (BAC)

OPEN
$15.40
PREVIOUS CLOSE
$15.19
DAY HIGH
$15.59
DAY LOW
$15.01
52 WEEK HIGH
10/15/09 - $19.10
52 WEEK LOW
02/20/09 - $2.53
MARKET CAP
133.1B
AVERAGE VOLUME 10 D
269.6M
EPS TTM
$0.45
SHARES OUTSTANDING
8.7B
EX-DATE
03/3/10
P/E TTM
34.2x
DIVIDEND
$0.04
DIVIDEND YIELD
0.26%
K = Thousands  M = Millions  B = Billions

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Final Glance: Finance companies
Max Hopper: Modernized information technology at American Airlines [The Dallas Morning News]
Bank of America CEO Moynihan to get $950,000 salary [The Charlotte Observer, N.C.]
[addPosition2]

Key developments for BANK OF AMERICA CORP (BAC)

Bank of America Corporation Declares Quarterly Dividends on Common and Preferred Stock

Bank of America Corporation announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.01 per share, payable on March 26, 2010 to shareholders of record as of March 5, 2010. The board also declared a regular quarterly cash dividend of $1.75 per share on the 7% cumulative redeemable preferred stock, Series B. The dividend is payable on April 23, 2010 to shareholders of record as of April 9, 2010. In addition, the board declared an initial quarterly cash dividend on the common equivalent junior preferred stock, series S. To the extent that shares of the series S preferred stock are outstanding on March 5, 2010, the initial quarterly cash dividend will be payable on March 26, 2010 to shareholders of record as of March 5, 2010. The cash dividend on each of these shares will be payable in an amount equal to $0.01 multiplied by the number of shares of common stock into which a share of the Series S Preferred Stock is convertible on March 5, 2010.

Finkelstein & Krinsk LLP Files Class Action Lawsuit against Bank of America Corporation

Finkelstein & Krinsk LLP filed class action lawsuit against Bank of America Corporation. A class action securities lawsuit Montgomery v Bank of America Corporation, et. al., has been commenced in the United States District Court for the Southern District of New York on behalf of persons and entities that purchased certain Bank of America Corporation shares of fixed to floating rate non-cumulative preferred stock series K; shares of the BofA 7.25% non-cumulative perpetual convertible stock; or shares of the BofA 8.20% non-cumulative preferred stock series H pursuant or traceable to the Registration Statement and Prospectuses issued in connection with the securities offerings. The complaint alleges that BofA and certain of its officers, directors, underwriters and auditors violated the Securities Act of 1933. Specifically, on or about January 25, 2008, BofA consummated the Series K Offering selling 6 million shares of the Series K Securities for proceeds of $6 billion. On or about January 28, 2008, defendant consummated the Series L Offering selling 6.9 million shares of the Series L Securities for proceeds of $9.6 billion. On or about May 20, 2008, defendant consummated the Series H Offering selling 117 million shares of the Series H Securities for proceeds of $2.925 billion. On January 16, 2009, BofA issued a press release for the fourth quarter and full year 2008 reporting a net loss of $1.79 billion and reporting inter alia, CDO-related losses of $1.72 billion, an allowance of $2.99 billion for loan and lease losses during the quarter and write downs of commercial mortgage-backed securities and related transactions of $853 million. According to the complaint, the true facts omitted from the Registration Statement and Prospectuses were the company's loans, leases, CDOs, and commercial mortgages backed securities were impaired to a far greater extent than disclosed, defendants failed to properly record losses for impaired assets, the company's internal controls were inadequate to prevent the company from improperly reporting its impaired assets, and the company's capital base was inadequate relative to the magnitude of impaired assets. Plaintiff seeks to recover damages on behalf of all persons who acquired the Securities pursuant or traceable to the Registration Statement and Prospectuses issued in connection with the offerings. Plaintiff is represented by Finkelstein & Krinsk LLP and Klafter Olsen & Lesser LLP, highly experienced law firms litigating securities cases throughout the country. As a member of the Class described above, you may, not later than March 26, 2010, move the Court to serve as lead plaintiff for the Class.

Bank of America Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2009

Bank of America Corporation reported consolidated earnings results for the fourth quarter and year ended December 31, 2009. For the quarter, the company reported net loss applicable to common shareholders of $5,196 million or $0.60 per basic and diluted share compared to net loss applicable to common shareholders of $2,392 million or $0.48 per basic and diluted share a year ago. Net interest income was $11,559 million against $13,106 million a year ago. Total revenue, net of interest expense was $25,076 million against $15,680 million a year ago. Loss before income taxes was $1,419 million against $3,802 million a year ago. Net interest income declined from the year-ago quarter as a result of lower asset liability management portfolio levels and reduced loan demand. For the year, the company reported net loss applicable to common shareholders of $2,204 million or $0.29 per basic and diluted share compared to net income applicable to common shareholders of $2,556 million or $0.54 per basic and diluted share a year ago. Net interest income was $47,109 million against $45,360 million a year ago. Total revenue, net of interest expense was $119,643 million against $72,782 million a year ago. Income before income taxes was $4,360 million against $4,428 million a year ago. Return on average assets was 0.26% against 0.22% a year ago. Book value per share of common stock was $21.48 against $27.77 a year ago.

BAC Competitors

Company Last Change
American International Group Inc $24.16 USD -0.75
ING Groep NV €6.78 EUR +0.139
JPMorgan Chase & Co $39.48 USD +0.15
Wells Fargo & Co $28.45 USD 0.00
Zurich Financial Services AG SFr.225.20 CHF -2.10
Market data is delayed at least 15 minutes.
 

Industry Analysis

Valuation BAC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.8x
Price/Book 0.7x
Price/Cash Flow 21.0x
TEV/Sales NM Not Meaningful

BAC

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BAC transactions

Type
Date
Target
Bankruptcy
January 17, 2010
Amidee Capital Group LLC
Bankruptcy
January 15, 2010
Sherwood Farms Inc
Merger/Acquisition
January 8, 2010
Bank of America Corporation, The Floridian

Bank of America Corporation - BAC news

CIT Hires Former Merrill Head as CEO

Keywords: CIT,,emerging,from,bankruptcy,,hires,Thain,as,CEO
Quote: John Thain, who was ousted a year ago as head of Merrill Lynch, has been tapped as chairman and chief executive of small-businesslender CIT Group (CIT).Thain had been a front-runner for the job for months, but concerns over his exit at Merrill -- he resigned over a disputeabout an outsized price tag for his office renovation after the company's acquisition by Bank of America (BAC)-- gave some board members pause.In the end, though, Thain was chosen because he was "uniquely qualified to lead CIT ...
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CIT, emerging from bankruptcy, hires Thain as CEO

Keywords: Financials,United States of America,Banks (industry group),Fund management and asset allocation,Management issues/policy,Business activities,U.S. corporate debt,Debt,Loans,Mortgage-backed securities,Credit Market News,Corporate debt,Company News item,Econ
Quote: 1 at both NYSE Euronext (NYX.N) and Merrill Lynch, and was fired by Bank of America (BAC.N), which acquired Merrill in the midst of the mortgage-market inspired financial crisis. CIT is not concerned about Thain's reputation after his short but controversial stint at Bank of America, and the board performed the appropriate due diligence before hiring him, said a person familiar with the company's thinking. No specific terms of the contract were revealed.......
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CIT, emerging from bankruptcy, hires Thain as CEO

Quote: history.GSNewsNYXNewsBACNews), which acquired Merrill in the midst of the mortgage-market inspired financial crisis.CIT is not concerned about Thain's reputation after his short but controversial stint at Bank of America, and the board performed the appropriate due diligence before hiring him, said a person familiar with the company's thinking.No specific terms of the contract were revealed.Thain's compensation will be "in line with expectations in this day and age," John Ryan, CIT's lead direct...
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CIT names ex-Merrill CEO Thain as chairman, CEO

Quote: 15.As chairman and CEO of Merrill Lynch, Thain brokered the deal to sell the investment bank to Bank of America in what was considered a lifesaving move for the company at the height of the financial crisis. But he then came under fire for having paid out $3.6 billion in bonuses to Merrill employees just before the deal closed, and for spending more than $1 million to redecorate his office at Merrill, despite its massive losses.Thain resigned as head of global wealth management at the combined c...
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After Turmoil at Merrill, Thain Will Lead CIT Group

Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: Thain, 54, is seeking to leave behind the controversies that haunted his final days at Merrill after it was acquired by Bank of America, a deal he helped engineer to save the brokerage during the height of the financial crisis. As CIT’s new chairman and chief executive, he will try to rebuild a company whose bet on increasingly risky businesses led it to the brink of dissolution, only to be saved at the last minute by its creditors. CIT also bears the ignominy of being the first company i...
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Legal Broadsides Kick Off Air Products-Airgas Battle

Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: McCausland and the board had consulted with several advisers, including Goldman Sachs, Bank of AmericaMerrill Lynch and the law firm Wachtell, Lipton, Rosen & Katz. The answer each time was the same: now would be the wrong time to sell the company. Despite disappointing analysts and investors by lowering its fiscal year 2010 guidance, Airgas management still believes that as the economy recovers, so too will the company’s financial prospects. Representatives for Air Products and Airg...
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After Turmoil at Merrill, Thain Will Lead the Lender CIT

Keywords: Thain John A,Merrill Lynch & Co,Bank of America Corp,Hiring and Promotion,Financial Brokers,Executives and Management
Quote: Thain has risen to top executive positions at Goldman Sachs, the New York Stock Exchange and Merrill Lynch.a swift bankruptcy.his final days at MerrillBank of Americato save the brokeragefinancial crisis. As CIT’s new chairman and chief executive, he will try to rebuild a company whose bet on increasingly risky businesses led it to the brink of dissolution, only to be saved at the last minute by its creditors. $700 billion federal bailout program. Taxpayers’ $2.3 billion investment w...
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CIT Names Ex-Merrill Chief Thain as CEO

Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Joseph Woelfel ,Financial Services
Quote: 10.Thain was the architect of Merrill's sale to Bank of America (BAC Quote) in the fall of 2008. He left Merrill soon after the merger with Bank of America was completed."I am pleased to have the opportunity to lead the newly reorganized CIT," Thain said in a statement Sunday. "The company's numerous market-leading positions are evidence of the resiliency of the franchise and its unwavering commitment to its customers." CIT, one of the nation's largest lenders to small and mid-sized businesses, ...
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Cuomo charges BofA, ex-CEO with fraud; SEC settles

Quote: Securities and Exchange Commission separately said Bank of America agreed to pay a $150 million civil fine and bolster disclosure and governance practices to settle its two lawsuits alleging poor disclosure of Merrill's losses and $3.6 billion of bonus payouts. That accord requires court approval.Thursday's civil lawsuit by New York Attorney General Andrew Cuomo could complicate efforts by new Bank of America CEO Brian Moynihan to revive the largest U.S. bank.Moynihan replaced Lewis, who retired...
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Cuomo Sues BofA and Lewis; S.E.C. Proposes New Settlement

Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: Cuomo of New York on Thursday sued Bank of America and its former chief executive and chief financial officer over its failure to disclose a multibillion-dollar loss and big bonus payouts at Merrill Lynchthe lawsuit after the jump.) agreed to paySecurities and Exchange Commissionhere.) Mr. Cuomo, who is filing the civil lawsuit under New York’s Martin Act, said his office had coordinated its efforts with the S.E.C. and Neil Barofsky, the special inspector general for the Troubled Asset Rel...
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Cuomo Sues Bank of America, Even as It Settles With S.E.C.

Keywords: Bank of America Corp,Suits and Litigation,Cuomo Andrew M,Frauds and Swindling,Securities and Exchange Commission
Quote: The legal drama surrounding the controversial takeover of Merrill Lynch by Bank of America, one of the pivotal moments of the financial crisis, took a fresh turn on Thursday as the attorney general of New York leveled civil fraud charges against Kenneth D. Lewis, the former Bank of America chief who masterminded the deal. Securities and Exchange Commission announced that it had struck a new, $150 million deal with Bank of America to settle its own cases involving the merger. Moments later, North...
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Mystery Men of the Financial Crisis

Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote:
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US report: close lawyer loophole on tainted money

Keywords: Washington / US Government News,Regulation and enforcement,Management issues/policy,Legislation,Consumer electronics,Household durables,Germany,Western Europe,Europe,Banks (industry group),Financials,Real estate (industry),United States of America,Equator
Quote:
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[$$] How Banks Can Win From Being Second

Quote:
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Senate report: 'Dirty money' still entering US

Quote:
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Senate report: 'Dirty money' still entering US

Quote:
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UPDATE - BofA poaches real estate team in Australia

Keywords: Banks (industry group),Financials,Fund management and asset allocation,United States of America,Real estate (industry),Hong Kong,Asia,Emerging countries,Labour; Employment; Unemployment,Australia,New Zealand,China,Business activities,Company News item,Eco
Quote: UPDATE 1-BofA poaches real estate team in Australia (Adds names of other hires) HONG KONG, Feb 4 (Reuters) - Bank of America (BAC.N) has hired a five-person real estate team from Bell Potter Securities in Australia, according to a source familiar with the matter, adding to its growing list of major hires across Asia-Pacific. The source said among the hires was Simon Garing, who according to an August 2009 press release was head of Real Estate Equities Research at Bell Potter, a post he took aft...
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BofA to add 2,000 more brokers-FT

Keywords: Banks (industry group),Financials,Fund management and asset allocation,United States of America,Company News item,Economic news, EC, business/financial pages,
Quote: BofA to add 2,000 more brokers-FT NEW YORK, Feb 2 (Reuters) - Bank of America Merrill Lynch (BAC.N) will add as many as 2,000 more people to its global wealth management division this year, according to a report in the Financial Times. Bank of America Merrill Lynch will boost its numbers by training junior brokers rather than trying to lure more senior people from other firms, a move which will keep costs down, sources told the FT. Most of the growth will be in the U.S., with smaller additions i...
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UPDATE - BofA approved more than $4 bln for 2009 pay-WSJ

Keywords: United States of America,Major Breaking News,Asia,Europe,Banks (industry group),Financials,Debt,Fund management and asset allocation,General News,Management issues/policy,Business activities,Company News item,Economic news, EC, business/financial pages,
Quote: UPDATE 1-BofA approved more than $4 bln for 2009 pay-WSJ* BofA approved over $4 bln 2009 pay for bankers, traders * 2009 pay to average $300,000-$500,000 - WSJ * 2009 payout close to 2006 peak compensation levels - WSJ(Adds detail from paragraph 5) NEW YORK, Feb 2 (Reuters) - Bank of America Corp (BAC.N) has approved more than $4 billion in 2009 pay for its investment bankers and traders, according to the Wall Street Journal. The payout is about 19 percent of the $23 billion in revenue the compa...
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[$$] BofA's Banker-Pay Pool: $4 Billion

Quote: By DAN FITZPATRICKBank of America Corp.approved more than $4 billion in 2009 pay for its investment bankers and traders, meaning those workers will collect an average of $300,000 to $500,000 for the year, according to a person familiar with the matter. The payout represents about 19% of the roughly $23 billion in revenue generated by investment-banking and capital-markets activities, this person said. The 2009 average will be close to what the bank paid during its peak compensation year of 2006,...
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