Shortly after Bank of America shareholders voted to approve the bank’s acquisition of Merrill Lynch, Bank of America’s general counsel, Timothy J. Mayopoulos was unceremoniously fired by the chief risk officer. The dismissal, which was given no explanation, has now come under investigation by federal investigators, led by New York Attorney General Andrew Cuomo.
 
In particular, the timing of the firing, which occurred on the same day as Bank of America informing its board of directors that Merrill Lynch was losing money at a surprising pace, has come under scrutiny. Mayopoulous had just discussed Merrill Lynch’s financial situation with the bank’s …read more

Business owners have many rules to follow and some “laws” that should govern their decisions.  Here is one law every small business owner must be aware of.  It’s called Parkinson’s Law and it was developed by C. Northcote Parkinson.  The law:
‘WORK EXPANDS SO AS TO FILL THE TIME AVAILABLE FOR ITS COMPLETION’
The corollary of the law is the saying, “If you want something done, ask a busy person.”  We all know people who are busy and well-organized and who get lots done.  If you ask them to do something else, they easily fit it into their schedule.  If people are …read more