I have a story for you.
Two CEOs lead two large public companies that start sinking, putting thousands out of work and toppling the American economy. Both CEOs accepted billions in taxpayer dollars to sustain their companies, but both failed to stop their companies' downward spirals.
One CEO -- GM's Rick Wagoner -- got his pink slip from President Obama this morning. The other -- Bank of America's Ken Lewis -- accepted bailout funds while continuing to fleece consumers and taxpayers.
It's time for the Obama Administration to show the door to CEO Ken Lewis in order for real reform to take hold at Bank of America.
http://action.seiu.org/page/s/firekenlewis
Firing GM's CEO is a positive step towards restructuring this critical American industry. But the Obama Administration needs to apply the same lesson to the financial sector: replace failed leadership and shepherd the industry into a new era.
Why should Ken Lewis be fired? Let's count the reasons.
- $45 billion bailout for more of the same. Ken Lewis' Bank of America has yet to change its core business practices that ran our economy into the ground in the first place.
- $5 billion in bonuses met with blind eye. CEO Ken Lewis turned a blind eye when one of his new acquisitions gave out an estimated $5 billion in bonuses right before the company got a $10 billion bailout.
- $120 million in CEO pay. Bank of America CEO Ken Lewis took home more than $120 million dollars in the last several years, more than 4,000 times what his average employee makes. The era of excess is over.
- 247,000 forgotten employees. Ken Lewis' Bank of America is actively fighting the Employee Free Choice Act, which would level the playing for its employees. In some states, Bank of America employees take up large portions of public health care because they don't earn enough money.
And that's not the half of it. Let's be clear, though: it's not enough to just fire Ken Lewis. He needs to be replaced by someone ready to reform Bank of America from top to bottom.
With $45 billion in taxpayer bailout funds still in its coffers, Bank of America needs new leadership and a new direction. CEO Ken Lewis has not shown he's up to the task. Send your note to the Treasury now.
RSS FEEDS
They should have been allowed to fail and go into bankruptcy.
TELL SEIU: FIX OUR UNION, FIRE PRESIDENT STERN!
I have a story for you too…
“AP Exclusive: Calendar shows key Ill. gov meetings
By JOHN O'CONNOR, Associated Press Writer
SPRINGFIELD, Ill. — Gov. Rod Blagojevich's official calendar shows he met with a top union official in his Chicago office the day before Barack Obama was elected president _ just as federal prosecutors say the governor was scheming to trade Obama's Senate seat, possibly for a cushy union job.”
http://www.foxnews.com/wires/2009Jan06/0,4670,IllinoisGovernorCalendar,00.html
So as I understand it, SEIU Bosses are planning to spend $150 million Union-member‘s dollars and mobilize tens of thousands of Union-members to throw any politician that doesn’t dance to SEIU’s tune out of office and calling it “Justice for All.”
This prompts me to ask the question, if we tolerate corruption and ‘Pay-for-Play’ politics from the SEIU elite like International Union President Andy Stern and Illinois chapter (which funneled $1.8 million Union-member’s dollars into Blagojevich’s two gubernatorial campaigns) President Tom Balanoff, how can we ever expect honest leadership from our elected leaders in the Government?
President Andy Stern’s actions are a stain on the reputation of our Union and it’s time we remind him and the other Union Bosses that the SEIU isn’t his personal goon-squad and political-piggy-bank, it is (or so we the proletariat are told by the Union Bosses) our Union and we won’t tolerate President Stern turning us into a criminal organization for his personal glory and power!
Verum Ad Potentia
Verum Ad Potentia is right, because it's none of SEIU's business! It's time for Stern to be replaced by a real leader!