$50,000 from Levi S.
Frederic T. Harned (FTHARN01@ULKYVM.LOUISVILLE.EDU)
Thu, 3 Feb 1994 16:40:33 EST
quoting Steve Souza (76703.633@Compuserve.com:
> ... BofA is also headquartered in CA and owned by TransAmerica Corp.
It's not really on point and may even be nitpicky, but my banker half (which
emerges when I'm not Scouting) constrains me to comment. BofA is owned by
BankAmerica Corp. and has no ownership connection with TransAmerica Corp. They
are quite separate. BankAmerica Corp had an excellent year in 1993 - profits
up 30% to $1.954 Billion. It need not have been an actual outflow of deposits
that led to the change of policy. Sometimes a personal phone call to the CEO
(or other key exec) from a corporate buddy can lead to such changes. I have
no info of my own on what the facts actually were, but there is more than one
plausible hypothesis. It is quite possible that the first decision was made
by an underling and didn't get the full attention of top management.
**Frederic T. Harned
**Lecturer in Political Science
**Tel. (502) 581-7961
Terry Howerton Sakima Group, Inc. SCOUTER Magazine Kansas City