© 2025 WFAE

Mailing Address:
WFAE 90.7
P.O. Box 896890
Charlotte, NC 28289-6890
Tax ID: 56-1803808
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Here are some of the other stories catching our attention.

Largest state retirement system in US wants Lewis, entire board out of BofA

http://66.225.205.104/SO20090428.mp3

The California Public Employees Retirement System or CalPERS plans to vote against board Chairman Ken Lewis and all of the board of directors. CalPERS spokesman Clark McKinley says the bank's board did not disclose Merrill Lynch's financial troubles before shareholders approved the deal to acquire it in early December. "This was a pretty flagrant breach of their responsibility of their duty to shareowners and because of that all of those people were on watch when that happened. So we're voting to remove them."

The system holds 23 million shares of Bank of America. McKinley says CalPERS is a long-term investor and doesn't intend to pull its shares any time soon.

Last week the Connecticut state treasurer said its retirement system would vote against Lewis and several board members.