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BAC finally wins some litigation w/o settling!


Olmsted
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Not sure if this will move the stock, but for what its worth:

 

http://www.cnbc.com/id/48915269

 

:)

 

Selch burst into a conference room where executives from Columbia were meeting to give them a piece of his mind. He wound up giving them a piece of something else as well.

 

First Selch asked if he had a non-compete agreement, which on Wall Street is usually a way of threatening to quit and go to work for a competitor.

 

After the executives said he didn't have a non-compete, Selch mooned them, told one of the New York-based executives never to return to Chicago, and left the meeting.

 

Extraordinarily, Selch wasn't fired. Instead he was issued a formal warning. Selch’s boss testified that while 99 percent of employees would have been immediately fired, Selch was one of the one percent who could be granted a one free mooning reprieve. The executive actually fought for Selch to keep his job.

 

When Columbia CEO Brian Banks found out about this incident, he insisted that Selch be fired. The behavior was too “egregious” to allow Selch to continue at Columbia. No free mooning at Bank of America, Banks decided—even if you are in the one percent.

 

...

The trial court granted summary judgment to the defendants in the suit. Last Wednesday, a three-judge appeals panel upheld the trial court, describing the mooning as “insubordinate, disruptive, unruly and abusive.”

 

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