Word: chairman
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Dates: during 2000-2009
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Anger among Bank of America investors about the Merrill Lynch deal has been brewing for months. In April, shareholders voted to strip Lewis of the title of chairman. Even then, some people predicted Lewis was not long for the bank, but he managed to hold on to his CEO title for six more months...
...Became Bank of America's chief operating officer in 1999, CEO in 2001 and chairman...
...These ideas and others were addressed last month at a one-day conference exploring integrated lake-basin management for the Udaipur lakes, hosted by Mewar at his Fateh Prakash Hotel beside Lake Pichola. Masahisa Nakamura, director of the Center for Sustainability and Environment at Japan's Shiga University and chairman of the International Lake Environment Committee Foundation's scientific committee, identified several human factors that are to blame for the lakes' sorry state: deforestation, construction of new hotels and private homes too close to the lakes, sewage and waste dumping, and poor governance, bribes and corruption. Nakamura was particularly critical...
...That decision proved disastrous. For the 18 months ending in June, HSBC's U.S. personal-financial-services business posted pretax losses of $20 billion. In March, HSBC announced its consumer-finance operation wouldn't issue any more loans and would begin winding down its business (except for credit cards). Chairman Stephen Green said in a statement at the time that the Household purchase was one "we wish we had not undertaken." (See pictures of the global financial crisis...
...HSBC isn't completely turning its back on the West. Green, the chairman, will remain in London, as will HSBC's official world headquarters. Yet HSBC's return to Asia is still an important signal of where the bank and the world economy believes it will find new growth. "The self-styled 'world's local bank' is realizing some locales are more important than others," noted an editorial in the South China Morning Post, Hong Kong's largest English-language newspaper. "It has taken an extraordinary financial crisis for the bank to see that its future lies where its roots...