1) Bank of America Corp, the biggest U.S. bank by deposits, will leave Chairman and Chief Executive Officer Ken Lewis in charge as the company tries to absorb the operations and losses of Merrill Lynch & Co.
“The board today during their regular meeting expressed support for Kenneth Lewis and the Bank of America management team, noting their experience in managing through challenging environments and in assimilating mergers,” said lead independent director Temple Sloan in a statement supplied by the bank.
I mean, come on - that CANNOT be real can it? BAC's board of directors actually thinks it's a good idea to leave Ken "I'll pay you $20 billion for that pile of shit" Lewis in charge? Really? Bad idea jeans!
2) CHICAGO—While a majority of the nation's top retailers have reported a decided slump in 2008, economists studying the declining consumer markets are still unable to determine if discount clothing store T.J. Maxx has been affected by widespread recession.
Financial analysts, observing more than 100 locations nationwide, cited large quantities of off-brand and wildly scattered merchandise as evidence that T.J. Maxx has either been devastated by the economic downturn, or is carrying on as usual in spite of it.
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