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US banking chairman is voted out
April 30, 2009
Bank of America shareholders have voted to oust Kenneth Lewis as the firm's chairman, following months of criticism over his running of the company.
The bank said the result of the vote at its annual general meeting had been narrow, and that Mr Lewis will continue in the chief executive position.
However, analysts said it was now the beginning of the end for Mr Lewis, 62.
He has been criticised for buying Merrill Lynch last year, and the bank's need to accept emergency state loans.
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Stocks Waffle On Banking And Flu Worries
April 30, 2009
Banking fears and international flu worries sent the Dow into the red Tuesday.
The Dow lost eight points, the Nasdaq dropped seven points and the S&P 500 fell two points.
Yahoo! BuzzShares of Bank of America ( BAC - news - people ) dropped by 8%, and Citigroup ( C - news - people ) closed down more than 6%.
According to The Wall Street Journal, U.S. regulators told Bank of America and Citigroup they may need to raise more capital.
IBM ( IBM - news - people ) was a bright spot. The company stock got a boost after its board approved a 10% dividend and a stock buyback. Shares rose nearly 2%.
Chrysler and Washington worked out a deal with banks and private equity firms to swap $6.9 billion in Chrysler's secured debt for $2 billion in cash and a small equity stake. While Chrysler is nearing a tie-up with Fiat ( FIA - news - people ), bankruptcy remains a possibility. Shares of competitor General Motors ( GM - news - people ) lost more than 11% after announcing Tuesday it will force more than 1,000 dealers to close as it attempts to stave off bankruptcy.
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Robert S. Coleman is a professor of chemistry at Ohio State University. He has been a member of the faculty in the Department of Chemistry since 1996, having moved to Ohio State as an Associate Professor from the University of South Carolina, after seven years at that institution. He was promoted to Full Professor in 2000. Professor Coleman is nationally and internationally recognized as a leading practitioner in the field of synthetic organic and medicinal chemistry, and as a collaborator in a number of multidisciplinary research programs. He received his Ph.D. degree working with Professor Dale L. Boger (then at Purdue), completing the first total synthesis of the antitumor agent CC-1065.He was subsequently an NIH postdoctoral fellow at Yale University with Professor Samuel J. Danishefsky, where he completed (with M. Paz Cabal), the first total synthesis of the aglycone of the antitumor agent calicheamicin.
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