Thursday, October 15, 2009

Internal BofA Emails Starting to Hit the Press (Contemporaneous to slashing s/h dividends to 1¢ per share)

Apart from the shareholder quip, I doubt this exchange is actionable, but given BofA's recent waive of privilege and subsequent (over)production of documents to various federal and state bodies, news reports like this are going to be rampant over the next several months. FWIW - enjoy!

Between BofA Directors Chad Gifford ("CG") and Thomas May ("TM") the day BofA cut dividends to 1¢ per share; emphasis in original.

CG: Concentrate on the phone!!!

TM: Screw You.

CG: Unfortunately, it's screw the shareholders!!

TM: No trail.

CG: Only stated in the context of a horrible economy!!! Will effect [sic] everyone ...

TM: Good comeback, [expletive].

CG: Amaaazing ...


Hat-tip: Boston Globe.

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