Bank of America posts $1B third quarter loss, sells luxe Time Warner Center apartment
October 16, 2009 03:30PM
Bank of America chief executive Ken Lewis
It appears that Bank of America is taking its substantial third-quarter losses to heart. Yesterday, before the bank revealed its quarterly earnings -- a $1 billion loss before accounting for dividends to preferred shareholders -- the bank announced that CEO Ken Lewis, who will step down at the year's close, would forego his 2009 paycheck. Today, the New York Observer revealed that the bank has also sold its luxe corporate apartment at the Time Warner Center for $7.2 million. The company bought the 57th floor condo for $6.35 million in 2006, and it was there that the infamous Bank of America-Merrill Lynch merger was reportedly first discussed. City records show the buyer as Tata Real Property, though it was not clear whether the apartment had ever been listed on the market. [NYO] and [NYT]
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Comments
Anonymous
they were smart to get out at a profit
Comment #1 Posted By: Anonymous 10/17/09
Anonymous
These bozos are blowing short sales across the country turning down legit offers and forcing un-necessarily forcing homes into foreclosure and owners into bankruptcy all on taxpayer money. THIS STORY NEEDS TO BE TOLD!
Comment #2 Posted By: Anonymous 10/19/09