With only hours to go before its annual meeting kicks off, all eyes are on Bank of America Corp. (NYSE:BAC), where plenty of important questions will be answered. Will Ken Lewis hold on to his board seat and job? Will the positions of chairman and CEO be split? Will brokers continue to vote management's way, or will they join the ranks of the disgruntled institutional investors?
But one of the key things on the minds of attendees will be what will be served at the meeting. While no one is expecting Ken Lewis to book U2 as entertainment for the meeting, management also walks a fine line in making a show of reining in costs. But how far should they go? Citigroup Inc.'s (NYSE:C) annual meeting was a bare bones affair as the (mostly angry) shareholders that showed up found even more reason to be annoyed as bank did not provide coffee, doughnuts or even water over the six hours it lasted. While Citi's CEO Vikram Pandit has learned something about belt-tightening in recent months, there were some things they didn't skimp on -- safety (mainly there own) as the meeting featured the presence of more than 50 security guards.
You can watch the BofA festivities at:
http://www.bankofamerica.com/investor. And read out BofA annual meeting previews
here for a run down of story up until now. -
George White See BofA annual meeting preview postSee Dealscape post on Citi's new frugality
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