by glooperoo » Thu Jun 30, 2005 12:43 pm
Here's an interesting sidenote to the MBNA helicopter crash: Bank of America just announced they're buying MBNA for $35 billion. Not surprisingly, the new BoA management <!--EZCODE LINK START--><a href="http://news.yahoo.com/s/ap/20050630/ap_on_bi_ge/bank_of_america_mbna">will be drawing from the ranks of MBNA's exec</a><!--EZCODE LINK END-->:<br> <!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr><br>CHARLOTTE, N.C. - Bank of America Corp. on Thursday said it will acquire MBNA Corp. in a $35 billion cash and stock deal that will result in 6,000 jobs cuts but transform the nation's third-largest bank into one of the world's largest credit card issuers.<br>ADVERTISEMENT<br><br>MBNA President and CEO Bruce L. Hammonds, 57, will become CEO and president of Bank of America Card Services and report to Liam E. McGee, 50, president of Bank of America global consumer and small business banking. Hammonds will remain in Wilmington, Del., where MBNA is headquartered, and be part of Bank of America's risk and capital committee.<br><br>Frank P. Bramble, Sr., a vice chairman of MBNA, will be appointed to the Bank of America's board of directors.<br><br>Bank of America said the acquisition is an opportunity to grow a business that has proven to be one of its fastest growing segments.<br><hr></blockquote><!--EZCODE QUOTE END--><br><br>Both Mr. Hammond and Mr. Bramble and <!--EZCODE LINK START--><a href="http://www.baltimoresun.com/news/local/bal-md.copter20jun20,1,7708040.story?page=1&ctrack=1&cset=true&coll=bal-local-headlines">happened to be ing that helicopter crash</a><!--EZCODE LINK END-->, so I guess we have a new possible motive for the crash. Maybe someone jockying for the position of CEO of the world's largest credit card issuer was jealous. Who knows? Paging the FBI...maybe you guys should investigate this...Hello FBI? Oh wait, never mind, something tells me <!--EZCODE LINK START--><a href="http://www.highbeam.com/library/doc0.asp?docid=1G1:76483843&refid=ink_tptd_np&skeyword=&teaser=">the FBI ain't going anywhere near this incident</a><!--EZCODE LINK END-->:<br><!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr><br> WILMINGTON, Del., July 12 /PRNewswire/ --<br><br>MBNA Corporation (NYSE: KRB) announced today that Louis J. Freeh, former director of the Federal Bureau of Investigation, will join the company as senior vice chairman for Administration and will be a member of its Executive Group.<br><br>Mr. Freeh comes to MBNA after 8 years as director of the FBI. Previously, Mr. Freeh served in the U.S. Attorney's Office as a Deputy and Associate U.S. Attorney and also was a United States District Court Judge for the Southern District of New York. Throughout his career, he has been recognized for his ...<br><br><hr></blockquote><!--EZCODE QUOTE END--><br><br>Sigh...<br><br><br> <p></p><i></i>