Word: settlements
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Dates: during 2000-2009
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Kenneth Lewis' days as chief executive of Bank of America may finally be numbered. Observers and investors say a settlement with the Securities and Exchange Commission may ultimately cost Lewis the top job at the nation's largest bank...
...Clearly, we think the SEC settlement is further evidence that Lewis should go," says Sevice Employees International Union Stephen Lerner, who heads SEIU's financial-reform campaign. "It is extraordinary that Lewis has remained this long under these circumstances...
...managers say that could take years - and it looks increasingly unlikely that Lewis will be able to hang on that long. In April, shareholders voted to strip Lewis of the title of chairman. Moreover, regulators have pushed the bank to replace a number of its corporate directors. The SEC settlement may be the final straw for Lewis...
...settlement demonstrates the lack of regard Lewis and the former Bank of America board has for shareholders," says Finger. "They were not as open as they should have been...
...Ross is the architect of the Administration's strategy for dealing with Iran. The U.S. has been pushing for the resumption of final-status talks between Israel and the Palestinians, which stalled early in 2001, and Ross and Jones are reinforcing Mitchell's efforts to broker an Israeli settlement freeze in exchange for Arab goodwill gestures. The Israelis see Iran as a higher priority than talks with the Palestinians. The White House officially views the two issues as being on separate tracks but says the Israeli-Palestinian conflict is a key issue whose impact on the region reinforces Iran...