SEIU Calls on Bank of America to Oust CEO Over Executive Bonuses
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The SEIU wants Bank of America to kick CEO Ken Lewis to the curb because the company approved $4 billion in bonuses for Merrill Lynch executives after accepting $25 billion in bailout funds last October. Is there any wonder why Bank of America is bad for America? While the nation's largest bank was handing out hefty bonus checks, they were drawing up plans to layoff 35,000 of their 247,000 employees; investing billions in overseas banks and Washington lobbyists; flying executives around on corporate jets; foreclosing on homes; cutting credit to consumers; and refusing to pay employee health care. To top it off, they had the nerve to request $20 billion more from our Treasury.
But wait, there's more!
The SEIU's calls for Lewis's ouster come on the heels of the story today in the Huffington Post that Bank of America was involved in a conference call just three days after their first bailout, in which they urged conservative activists to make huge contributions to anti-union groups fighting the Employee Free Choice Act, as well as vulnerable Republican Senators like Norm Coleman, Gordon Smith and Elizabeth Dole. This was a desperate attempt to prevent Employee Free Choice from passing in the Senate, which will likely happen with President Obama and a Democratic majority in power.
ZP Heller is the editorial director of Brave New Films. He has written for The American Prospect, AlterNet, The Philadelphia Inquirer, and The Huffington Post, covering everything from politics to pop culture.