Sunday, 3 May 2009

Bank chairman ousted after union campaign

“Hey hey, ho ho, Ken Lewis has got to go,” activists chanted outside the shareholder meeting of the Bank of America. And go he did. Shareholders voted to oust Lewis as chairman of the board, although he remains CEO of the company. The SEIU considers the move as a first step towards holding the bank accountable for its contribution to the economic crisis.
Incidentally, the Bank of America has apparently been funding the SEIU campaign against itself by lending the union close to 100 million dollar, the NY Daily News reported. The union would be short of cash as a result of its contribution to the election of Barack Obama.

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