Are Corporate Boards Ruining American Businesses? This Book Says Yes

Are Corporate Boards Ruining American Businesses? This Book Says Yes

The new book Money for Nothing looks at corporate boards: how they’re frequently hand-picked and ruled by the CEOs they’re supposed to keep in check, how they’re sidelined by various conflicts of interest and lack of accountability, and how the worst ones have massively screwed shareholders. [More]

Bank Of America Names President Of Consumer Banking As New CEO

Bank Of America Names President Of Consumer Banking As New CEO

Update your EECB contact lists: Bank of America has named their new CEO. The new man in charge will be Brian T. Moynihan, who has been the president of president of Consumer and Small Business Banking since August. According to BusinessWeek, the board chose Moynihan after an external candidate dropped out of contention. [More]

Top 10 Crappiest CEOs (According To Their Employees)

Top 10 Crappiest CEOs (According To Their Employees)

Glassdoor released its report of the 50 lowest-rated CEOs as determined by employee reviews on its site. I scractched out all the companies you don’t care about and ended up with this list of the 10 Crappiest CEOs (of consumer-facing compaines) (according to their employees)…

Don't worry about former Bank of America CEO Ken Lewis, because he probably doesn't worry about you.

Soon-To-Be-Ex Bank Of America CEO Has $53 Million Pension

Ken Lewis is probably a little bummed out that he will no longer be the CEO of Bank of America — but how sad can he be with a $53 million pension?

BoA CEO Resigns

BoA CEO Resigns

Bank of America CEO Ken Lewis resigned yesterday after becoming a lightning rod for criticism after his controversial takeover of Merril Lynch. Even though BoA has appeared in our Worst Company in America contests each year, it’s kind of sad because his office had a good record of solving our reader’s problems they sent in to the executive office. Too bad that ethos couldn’t have flowed downhill more.

Airline Employees Call Police On Angry CEO Who Chewed Them Out

Airline Employees Call Police On Angry CEO Who Chewed Them Out

This story combines two immutable laws of nature in a surprising twist: that executives don’t always know what their front-line employees are doing, and that airline employees don’t give a f*ck who you are and will call the police if you annoy them.

Bank Of America Board Members Subpoenaed

Bank Of America Board Members Subpoenaed

New York Attorney General Andrew Cuomo’s office is gathering information in order to file fraud charges against some BoA executives over what they knew, and what they hid, when they acquired Merrill Lynch & Co. a year ago. Earlier this week, his office subpoenaed 5 board members to find out “what they knew regarding the mounting losses and bonus payments at Merrill before the deal closed on Jan. 1 and what role they played in deciding whether to disclose that information to shareholders,” according to the Associated Press.

Frontline Examines The Bank Of America/ Merrill Lynch Merger

Frontline Examines The Bank Of America/ Merrill Lynch Merger

The merger between Merrill Lynch and Bank of America was sold to us as a marriage made in heaven that would save the financial system. It wasn’t, and it didn’t. Now Frontline takes a closer look at the now-infamous debacle that cost tax payers billions — and CEO Ken Lewis his chairmanship.

Bank Of America CEO:  We Had To Acquire Merrill Lynch To Save The Economy

Bank Of America CEO: We Had To Acquire Merrill Lynch To Save The Economy

Are you a Bank of America shareholder who is angry at CEO, (and former chairman of the board) Ken Lewis for going ahead with the Merrill Lynch deal? Well, you’re just mean. It wasn’t his fault. At least, that’s what he’s just testified before the House Committee on Oversight and Government Reform.

Current And Former Walmart CEOs Shop At Target

Current And Former Walmart CEOs Shop At Target

Fortune has an interesting article about a Target that opened up in Walmart country. The store is located about seven minutes from “Wal-Mart No. 1″, the first Wal-Mart ever built, and 20 minutes from Walmart’s headquarters in Bentonville, AR. At first, Target was concerned that the Walmart faithful wouldn’t shop at their new store — but they worried needlessly. Apparently, former CEO Lee Scott and current CEO Mike Duke are regulars.

The CEO Of Delta Reveals His Secrets

The CEO Of Delta Reveals His Secrets

Richard Anderson, the CEO of Delta Air Lines, was interviewed by the New York Times and shared his tips on hiring (ask about their family life), running meetings (no Blackberries!), and dealing with customers: “I find myself, more and more, writing hand-written notes to people,” he says. “I must write a half a dozen a day.” These are apology notes, we’re guessing.

Home Depot Steps In When GE Gives You The Warranty Runaround

Home Depot Steps In When GE Gives You The Warranty Runaround

Reader Chris bought a GE hot water tank from Home Depot, only to find out that it was broken. He noticed a sticker on the back telling him to call a 1-800 number for warranty repair rather than returning the tank to the store. So he did. And he got the runaround.

Treasury Secretary Is Cool With Firing Bank CEOs

Treasury Secretary Is Cool With Firing Bank CEOs

Hey, bank CEOs! Need “exceptional” help from the U.S. Government? Get ready to be fired. Treasury Secretary Tim Geithner told “Face the Nation” that he was open to firing bank CEOs in much the same way that GM chief Rick Wagoner was recently shown the door.

56% Of MBA Students Cheat Regularly

56% Of MBA Students Cheat Regularly

“A study of cheating among graduate students, published in 2006 in the journal Academy of Management Learning & Education, found that 56 percent of all M.B.A. students cheated regularly – more than in any other discipline. The authors attributed that to “perceived peer behavior” – in other words, students believed everyone else was doing it.”

http://consumerist.com/2009/03/13/aol-has-a-new-ceo/

AOL Has A New CEO AOL has named Google Senior Vice President Tim Armstrong as its next chairman and chief executive officer. Current Chairman and CEO Randy Falco and Chief Operating Officer and President Ron Grant “plan to leave the company after a transition period,” Time Warner said in a statement. [UPI]

http://consumerist.com/2009/03/02/6-months-was-enough-for/

6 months was enough for Freddie Mac Chief Executive Officer David Moffett. He’s outta here. [Portfolio]

How A CEO Can Live On $500K A Year

How A CEO Can Live On $500K A Year

Private school: $32,000 a year per student. Mortgage: $96,000 a year. Co-op maintenance fee: $96,000 a year. Nanny: $45,000 a year. We are already at $269,000, and we haven’t even gotten to taxes yet.

http://consumerist.com/2009/01/21/update-your-address-books-best/

Update your address books: Best Buy’s CEO Brad Anderson will retire in June, and Operating Chief Brian Dunn will replace him. [Bloomberg]