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...interviews were conducted via telephone by Opinion Research Corp. Sept. 14-16, 2008. The Florida, Indiana and North Carolina surveys have an error margin of 3.5 percentage points, while Ohio's and Wisconsin's is 3 percentage points...
Each state runs guarantee funds for insurance policies, similar to what the Federal Deposit Insurance Corp. does for bank deposits. Every state differs in what they guarantee, but most states set basic limits of $300,000 in life insurance death benefits, $100,000 in cash surrender or withdrawal value for life insurance, $100,000 in withdrawal and cash values for annuities, and $100,000 in health insurance policy benefits, according to the National Organization of Life and Health Insurance Guarantee Associations. The state where the policy was written determines the jurisdiction...
Before he became the President, CEO and Chairman of Bank of America Corp. - and the man whose $50 billion purchase of brokerage firm Merrill Lynch & Co. was some of the only good news on one of Wall Street's worst-ever days - Kenneth Lewis was a Mississippi boy who lived in a town so small he once joked that you had to go one town over "just to be born." He went to Georgia State University and then to work at North Carolina National Bank (NCNB) in Charlotte as a credit analyst - his first banking job. That was back...
...Bank of America expanded, Lewis continued up the corporate ladder, and when his mentor retired 2001, Lewis stepped into the CEO spot. He immediately cut 10,000 jobs and outsourced many others to India. In 2003, he spent $47 billion on his first major acquisition, FleetBoston Financial Corp., which gave North Carolina-based Bank of America a foothold in the northeast market. A series of other purchases - Chicago's LaSalle Bank, Charles Schwab's private banking program - earned him a reputation as a man with a penchant for savvy multi-billion dollar deals. This January, he bought Countrywide Financial Corp...
...Financial Corp. of America declared bankruptcy after a $2 billion federal bailout of its primary subsidiary, the American Savings and Loan Association, during the savings and loan crisis of the late 1980s...