16 Nov 2009
As Bank of America continues its search for a new CEO, one of the nation’s most powerful unions is giving it some unsolicited help: Since last week, the Service Employees International Union has been running online ads announcing a CEO vacancy at a “big bank” that may “reward failure with big $” and does not require a “basic understanding of the economy.”
Protestors gather during a rally against Goldman Sachs, demanding they redirect bonuses, Monday, Nov. 16, 2009, in Washington. (Manuel Balce Ceneta/AP Photo)
The ads, which the union says have attracted more than 300,000 clicks since Friday, are designed to pop up on some Google search results pages when the user searches the terms “Bank of America” and “BAC.”
“What we’re saying is they don’t just need a new CEO,” said Stephen Lerner, who directs the SEIU’s finance reform campaign. “They need a new business model that isn’t based on excessive risk, massive compensation for a few people and ripping off consumers.”
Bank of America declined to comment on the ads, but accused the union of having “misrepresented Bank of America’s relationship with its customers and its associates” in the past.