SEIU To Call For Firing Of Bank Of America CEO Ken Lewis
The labor powerhouse Service Employees International Union will become the first union to call on Bank of America to fire embattled CEO Ken Lewis later this morning, union officials tell me.
What makes this move interesting and unusual is that the SEIU call for Lewis’ ouster isn’t part of any campaign to organize Bank of America’s workers. Instead, it’s the first shot in a broader public relations strategy that the big unions are devising to push for passage of the Employee Free Choice Act, a top labor priority.
The idea is to capitalize on the crisis-driven public relations woes suffered by major corporations as a kind of pre-emptive P.R. strike against what is expected to be an intense and well-funded effort by major corporations to defeat Employee Free Choice.
Lewis, who’s facing multiple calls to step down amid the public bailout of the company and charges he destroyed the Bank’s shareholder value, has become a high-profile symbol of corporate greed, excess, and ineptitude at a time when the financial crisis has ordinary workers struggling — symbolism that SEIU hopes to use to stoke populist anger in advance of the EFCA fight.
“Bank of America CEO Ken Lewis just doesn’t get it. The era of greed and irresponsibility is over,” SEIU will say in an email that will be blasted to members later this morning that was sent to me by officials. “Enough is enough. Bank of America must fire CEO Ken Lewis.”
SEIU will push this message hard to the media this morning. You can read SEIU’s full email here.
SEIU hopes to capitalize on the well-known story about John Thain, the ex-CEO of Merrill Lynch, acquired by Bank of America, who spent $1.2 million renovating his office. (My old pals at Talking Points Memo have some good video of Thain trying to explain himself right here.)
“Bank of America tellers make about $24,000 a year,” the SEIU email says. “That’s less than what the CEO of a company bought by Bank of America paid for his curtains during the $1.2 million redecoration of his personal office.”
More on this story later today.
Update: Bank of America spokesperson Scott Silvestri tells me the company will have no comment on SEIU’s call for Lewis’ ouster.
This is a very smart move and very in tune with the emerging paradigm shift. The era of lionizing these crooks and turning them into folk heroes (the worship directed at Jack Welch being the prime example) is rapidly coming to an end.
yeah, it’s an interesting move — class warfare from the left is back?
“yeah, it’s an interesting move — class warfare from the left is back?”
I sure hope so Greg. The right has been waging it since Reagan and any time the left points out the greed and power of those with the mega bucks, They start crying “Class Warfare”!! Well my response is ‘Yes, it is class warfare. You started it and we’re going to finish it.”
Because the only way America becomes healthy again is with a strong middleclass. Unions set the bar for our(non union workers) wages and labor laws, so even non union workers need to fight for stronger unions. It’s in their own self interest.
mike, also, the merits of the arguments aside, in purely political terms, if there ever were a good time for libs to engage in class warfare, it’s now.
Raise the Rabble, all you rabble raisers!!
Most world economies have gone from Manufacturing, Producing and Innovation to pushing money and paper around on Wallstreet and that in my opinion is why we are in the mess we are in today..
There are two exceptions to this rule in China and India who have continued to manufacture and produce product which they sell to the world which has forgotten about Manufacturing and Production of products..The only production left in the USA is the manufacture of Military weapons..Could it be that the USA is afraid of what would happen if they lost this production and that is why they continue their wars in Iraq and Afganistan..
Wallstreet and other world markets did very well until greed and corruption showed them for what they are..Crooks..
It was then that it was noticed that Manufacturing and Production had moved to China and India where the big corporations in order to help their bottom line on wallsteet had shipped them..
Now China and India are sitting pretty while we have a recession..
It looks to me that rather than us selling Democracy to the Arabs they have sold their corrupt method of government and doing business to us..
The Arab nations are built on corruption and bribery and have been for years..It is a normal way of doing business and running a government..Have you noticed that bribery and corruption have been creeping into our corporations and government lately..
If big corporations find that they have to use bribery and corruption in the Arab countries in order to do business don’t you think they will bring this method home and try to use it here in our socalled Democracy..
I think in Neocon no regulation Capitalism that we have at present is a great breeding ground to use methods that they find to work in the
Arab Countries..
Therefore rather than us selling Democracy to the Arabs they have sold us their method of doing things which is bribery and corruption..Have you noticed it..I have..
Necessary Socialism but not necessarily Socialism.Since Socialism is a dirty word here maybe we could call it” Regulated Capitalism”
It is about time! If Wallstreet, Banks etc.. want a bailout from the tapayers, then they have to disclose what they have spent the bailout money on! No Fancy Corprate Jets, or Offices, even the aig giving Bonuses! Then justifying by saying they needed to retain there people! What the Heck! Most company’s did not have holiday partys this year. My husband’s firm did not lose money the 4th Qtr, but still no bonues and why should there be in these hard times. One should just be glad to have a job. with unemployment in California at 7%. The Bush administration allowed the same unaccountablity as they did in handing out or money in Iraq! It has to stop last NOW!
Those who whine about class warfare fail to recognize that war has been waged against labor since Reagan. That is one reason the middle class is now sliding down into proverty. It is one reason that the top 10% got most all of the Bush tax cuts. It’s one reason that the top 1% owns most of the country. Stop your whining fat cats, and put your shoulder to the wheel.
JUST GET THE BONUS MONEY BACK!!!!!!!!!!!!!!
Whatever the larger strategies are – defeat or passage of the Orwellian-named Free Choice Act, out-and-out class warfare, closed shops or open shops – IF Lewis took $25 billion of taxpayer money and turned around to OK $4 billion in bonuses, he should be fired. Why it takes a union to make this demand rather than shareholders, taxpayers, and government officials, is beyond me.
get rid of all CEO who abuse their position
I will be so VERY VERY happy the day they FIRE that poor excuse for a human being.
I need your support of people to fire very lousy person Ken Lewis because he is unhuman. I was earning full salary and full time job but become no more salary to hourly but still pay holidays and vacation. What about become no salary and become hourly.
Enough is enough. Fire Ken Lewis for putting all employee down while we work very hard for nothing. FIRE KEN LEWIS NOW! I need you support to power to get rid Ken Lewis for hurting many employee.
We need your support to power to fire Ken Lewis because he is hurting all employee and get bail out from taxpayer. I paid tax for bail out for Bank of America!
Look at Update:
Update: Bank of America spokesperson Scott Silvestri tells me the company will have no comment on SEIU’s call for Lewis’ ouster.
It’s still so disgusting what these guys did to everyone but themselves. Lewis and his goons have destroyed BofA’s brand. I’d personally NEVER trust any ‘NA’ bank again. I’ll stick to State Chartered Banks thank you very much. If you’re reading this and you still have an account with BofA, what you’ll learn is that if you change banks to a credit union or State Chartered Bank, you’ll finally begin to see just what an abuse victim you’ve become. The recognition begins when tellers actually deposit your customer’s checks without randomly assigning 12 day holds, and when your credit cards actually have five day grace periods so they don’t charge you $39.00 and raise your blood pressure to appease their insatiable greed. Last one out of Bank of America . . . Please leave the light on for the army of FDIC agents.
Why Bank of America never fire Ken D. Lewis?
We want to fire lousy person Ken D. Lewis.
Thank you, I love to read articles that are informative and beneficial in nature.
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Wow! You know your stuff!!!
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