Although the board still has to approve recommendation by Ken Lewis at Bank of America (BAC); it was recently reported at the Wall Street Journal Online as recommending:
"... he and his top lieutenants receive no bonuses for 2008, saying he expects the bank's final results to be below expectations, according to an internal memo issued today."
I mean, let's face it. It's sort of a gimme. It's sort of common sense.
Strange though, that not all CEO's in the current environment are taking this common sense approach ...
Note: I hold an investment position with Bank of America (BAC)