Ken Lewis Joins Team No Bonus!


Bank of America CEO Kenneth Lewis decided he and his team would give up their bonuses this year, in advance of earnings that are expected to be below expectations and because taking in those relatives from up north has caused the bank a little hardship. “This was a difficult decision because we have worked hard and made progress on many projects that will create value for our company in future years,” he said in the e-mail that went out this afternoon. “Nonetheless, we are a pay for performance company.” [Charlotte Observer]