The Savage Law Firm, PA Tampa, Florida

B of A shareholders voiced their view today by removing Ken Lewis as chairman of the board of directors. He remains as CEO. Time will tell if he stays as CEO given the resounding vote of ‘no confidence’ the shareholders gave him as chairman.  This is an interesting turn of events for a high-flyer who really seemed to have a chance to make B of A the next Citigroup (but is that a good thing or a bad thing?).
American business cycle includes periods of time when companies gather other businesses under their umbrella to gain ’synergies’ and create a whole more valuable than the sum of its parts and then when the synergies don’t show up on cue guess what? They break up the company because the parts are worth more than the whole.