"It's becoming more common, though as far as we can tell, we are one of the few major banks doing it," Robert Strickler, senior vice president, tells GlobeSt.com. For almost a year, quarterly earning reports have gone out via the Web.
An invitation to the meeting scheduled to start at 10 a.m. EDT was distributed to shareholders in the company's proxy filed last week with the Securities and Exchange Commission.
The proxy includes four shareholder proposals, all of them opposed by the board, including adopting a policy of getting shareholder approval before granting senior executives large settlement packages.
Part of the meeting will involve the retirement of Hugh McColl Jr., as chairman and chief executive. Kenneth D. Lewis will replace McColl. James H. Hance Jr., vice chairman and CEO, will show a slide presentation reviewing the bank's 200 financial highlights and financial goals for 2001.
Bank of America Corporation has $642 billion in assets and revenues of about $34 billion. It has more than 140,000 employees. The bank is a dominant player in major commercial real estate developments in North Carolina as well as in national markets.
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David Wilkening
David Wilkening began his long journalism career as a police reporter for Chicago-area newspapers. He became a writer-editor for major newspapers in Chicago, Washington, Detroit and Florida. He has been a business editor, political editor and travel editor for newspapers and magazines. He tried for a while to be a political operative but did better as an adjunct college professor teaching English and journalism. He is the author of several books, both ghost-written and under his own name. He is also a widely published freelance writer who currently lives in Orlando.
