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...chief executive of Bank of America, many said he got the job because no one else would take it. Just days before, Robert Kelly, the CEO of Bank of New York Mellon, had become the latest high-profile executive to turn down the post. But in the three months since Moynihan, 50, has taken over the reins at the nation's largest bank, he has used a mix of consumer-friendly initiatives, Washington face time and attention to detail to win over critics. Consumer advocates have applauded the bank's moves on debit cards and foreclosures. Washington officials...
...still has to turn around Bank of America's large credit-card business, which has consistently had higher loss rates than competitors. The bank has also been without a chief financial officer since mid-January, though people close to the search say Moynihan recently narrowed his choices down to three people. And Moynihan may have to answer recent claims that the bank used Lehman-like accounting maneuvers to hide assets. Bank of America has denied the allegations. (See the best business deals...
Maintaining a three-point lead, the Red Foxes continued to put the pressure on McCarthy, taking a 7-4 lead into the locker room at halftime...
...says he is now living on Wutai Mountain, the site of several dozen monasteries in China's central Shanxi province. But little more is known about whether he remains under some sort of detention or house arrest. "I talked to him on the phone for about two or three minutes," says Li Fangping, a lawyer in Beijing. "He wanted to hang up when we only talked for one or two minutes. He said his 'friends' were looking for him. He had to go. When asked about how he was and whether he was free, he said...
...work on the behalf of practitioners of the banned Falun Gong spiritual movement, and in 2005 he wrote an open letter to President Hu Jintao and Premier Wen Jiabao decrying the brutal treatment of Falun Gong followers at the hands of police. He was given a suspended three-year sentence for subversion in 2006, and then detained by state security officers a year later. They tortured him severely, which he detailed in a letter after his release, and threatened to kill him if he ever spoke about what happened...