Sunday, February 8, 2009

BusinessWeek Questions Bank of America's Survival

A current BusinessWeek article questions the survival of Bank of America, given its mounting financial challenges, investor discontent and flight of top talent. Here's a summary:
  • The bailout to-date for Bank of America: $138 billion
  • Since October 2008, the bank's share price has fallen 70%
  • Analysts estimate the bank has $500 billion of problem assets
  • Top talent is leaving the commercial bank, the newly-acquired Merrill brokerage and some employees are volunteering for layoffs
To read the entire BusinessWeek article, Click Here.

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