Investor Bank of America will get a bonus
Bank February 12th, 2010
The investors (bankers) at Bank of America (BoA) seems to be an abundance of good fortune. They will gain another bonus in 2007 after the last day to get bonus. The bonuses are distributed after the company took over Merrill Lynch.
As reported by the AP, Friday (8/1/2010), the investors are hoping when the bonus will be distributed later with a bonus equal to 2007 yesterday. Where do they get the bonus in cash 25 per cent more than their salary, and the rest of the stock in cash payments for good corporate performance.
As is known, Merrill in 2007 and pay bonuses to employees BoA for USD518 billion. Nevertheless, said if the bonus will be given the BoA can not further specified.
BoA spokesperson Robert Strickler did not say much about it. “No one could be decided today (the amount of bonus),” he said, when asked about giving a bonus of company policy.
Meanwhile, the CEO of BoA who had just served to replace Ken Lewis who resigned, Brian Moymihan, admitted that if the employee was impressed with Merrill until these bonuses after the acquisition of Merrill by BoA.
As for the last month, a bank based in Charlotte, New York City United States has returned the loan funds from the government equal to USD45 billion. The loan is due to the global economic crisis in 2008.
At that time, the BoA has told the U.S. Bapepam if the company can not pay the bonus for its shareholders up to $ 5, 8 miliiar. The Company also agreed to pay to the government for USD33 million to fix the problem and will be brought to court on February 1 next.
For your information, BoA recorded a loss in the third quarter of 2009 more than $ 2, 2 billion because they have to pay interest on the loan fund raising.
