Tuesday, June 10, 2008

The last gloat post

UPDATED 6/12: Word of more layoffs starts trickling out.

BAC Stock price when I left, June 2007: 49.19

BAC Stock Price when I cashed out my remaining shares, August 2007: 51.30

BAC Stock Price Today, June 2008: 29.66.

The best way to gloat?

ALWAYS go by the scoreboard.

I guess I got the last laugh after all - seeing that they have cut their earnings outlook, may cut their dividend, are selling a lot more preferred stock (and taking on more debt), cutting benefits as well as jobs, and are moving out of the Plaza in a couple years.

They've even fallen down to being the #3 bank behind JPMorgan Chase - which hasn't happened since 2001. Now, they are also saddled with Countrywide Mortgage.

On a more local level, the reorganization continues - to the point that my old department, in the end, had all duties moved to Chicago! It looks like anyone who remained was also either sacked or transferred as both business and debt (especially bad debt) expanded significantly.


You know, I think this picture is missing something...

That's better.

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