Seems Bank of America's CEO Brian Moynihan is getting a little testy after weeks of Occupy Wall Street protests, and that has him on a mission to improve his corporation's tattered image.
From Bloomberg News:
Moynihan, 52, told employees in a global town hall meeting last week from the firm’s Charlotte, North Carolina, headquarters that the “place to win the battle” over the bank’s battered public image is at the state and municipal level.
Bank of America’s outreach campaign is part of Moynihan’s effort to turn around the lender since he took over as CEO in January 2010 following two taxpayer bailouts. His plan to charge some debit-card users a $5 monthly fee drew reprimands from President Barack Obama and lawmakers, including U.S. Senator Richard Durbin, the Illinois Democrat who said customers should withdraw their deposits in protest.
“I, like you, get a little incensed when you think about how much good all of you do, whether it’s volunteer hours, charitable giving we do, serving clients and customers well,” Moynihan said during the Oct. 18 gathering. To the bank’s critics, he said, “You ought to think a little about that before you start yelling at us.”
Not certain how well his plan to circumvent addressing Bank of America's real critics, those pesky protesters at Zucotti Park who have hurt his feelings. Also, too, I wonder if Monyihan's bank has spent $35 million on charitable donations in the past 10 years? Seems only right that donations total at least as much as the bank spent on federal political campaigns and lobbying congress on behalf of its' own corporate interests.
Monyihan did say to think about it a little, and so I did. I didn't bring up his charitable giving.
