Bank of America is trying to block a shareholder motion that would limit ``white men'' to no more than half the nominations to its board.
The bank took steps to exclude the motion from the vote at the planned stockholders' meeting due to take place on April 27...
The bank, which last year acquired FleetBoston for $48 billion, has received outside recognition for its commitment to diversity.
Four years ago, it received the highest rating of any major bank in an NAACP survey based on minority employment and community reinvestment, among other measures.
Fortune magazine also rates BofA among America's top 50 employers for minorities.
Nick Rossi, the stockholder behind the motion, could not be reached for comment. He holds $31,000 worth of BofA shares.
Rossi is apparently a professional corporate gadfly who owns or co-owns a hardware store in Boonville, CA. He "described his politics as libertarian and fiscally conservative." Considering the information at the WSJ link, his proposal seems to be serious rather than a Swiftian satire.
MultiCultiCult · Thu, 01/13/2005 - 08:51 · Importance: 1