Bank of America Corp.
Will Bank of America (2011) continue to exist? The above logo is of the Bank of America in California when it was a well-managed….excellent bank. In the early 60’s, our bank was Bank of America (CA).
The Bank of America today is not the same….unfortunately. Bank of America has its origins in NCNB (North Carolina National Bank)….a pretty good regional bank in the 1980’s. As banks became more national….NCNB became Nations Bank and Nations Bank bought Bank of America (CA) and assumed that name….sadly tarnishing the original B 0f A.
Bank of America Corp. has been plagued by overambitious management and in some cases inept customer awareness. The recent $5 debit card fee being the most recent example.
G. D. Geraino wrote in a column for Business North Carolina (Nov 2011):
” In recent weeks, I’ve found myself returning to the idea that Bank of America will not survive. After a while it stopped sounding crazy.”
Is Bank of America Corp. too big to fail? At some point one would say yes. The real question: Will a bank or any business/organization that does not perform well….care about customers or understand its market….survive?
From Simon Sinek (11.04.11) :
“Saddest of all, this is not an article bashing Bank of America. They are just the latest example of a modern company that has replaced a person with a number and erroneously called that number a customer.”