Complaint Review: Bank of America - Chesapeake Virginia

Bank of America Plans Big Layoffs to Cut CostsBy NELSON D. SCHWARTZ

Published: August 19, 2011RECOMMENDTWITTERSIGN IN TO E-MAILPRINTREPRINTSSHAREBank of America is set to eliminate at least 3,500 jobs in the coming months, as the beleaguered financial giant seeks to cut costs and restructure amid deepening shareholder dissatisfaction.RelatedDealBook: Memo From Bank of Americas Chief Executive(August 19, 2011)Times Topic: Bank of America CorporationWith its stock down more than 50 percent since January, the job cuts by Bank of America may be only the start of a broader restructuring at the company, which is the nations largest bank. Brian T. Moynihan, the chief executive of the bank, has said that he hopes to trim quarterly expenses by $1.5 billion. Thousands more job cuts are likely in the months ahead.I know it is tough to have to manage through reductions, Mr. Moynihan wrote in a memo to the companys senior leadership late Thursday that outlined the cuts. But we owe it to our customers and our shareholders to remain competitive, efficient and manage our expenses carefully.In the memo, obtained by The New York Times, Mr. Moynihan said the companys broader revamping effort was nearing completion of its first phase, which examines the consumer business and support functions. A third and final review is set for early September.The company plans to announce the first results of that project next month, which could include further job cuts that would total more than 10,000.Mr. Moynihan said in the memo that the company had already begun to tell the 3,500 employees that their jobs were to be eliminated, and that the reductions would come throughout the company. Bank of America, which has roughly 280,000 employees, cut about 2,500 jobs in the first half of the year.Even more than its large rivals, Bank of America has been battered particularly hard by the bursting of the housing bubble and the surge in foreclosures. It has already suffered tens of billions in losses tied to its disastrous acquisition in 2008 of Countrywide Financial, the subprime lender that has come to epitomize the excesses of the housing boom of the last decade.Investors are also pressing the bank to buy back billions of dollars in securities it assembled from mortgages that later soured. In June, it agreed to pay a group of investors including Pimco, BlackRock and the Federal Reserve Bank of New York $8.5 billion to settle a portion of these claims.While the settlement represented the culmination of months of negotiations and was seen as an attempt by Mr. Moynihan to finally put Countrywides disastrous legacy behind the company, investors  remain skeptical.Earlier this month, American International Group, the giant insurer, filed suit against the company over mortgage backed securities it assembled, and investors fear the June settlement may actually spur more litigation, rather than resolve it.The latest job cuts, which were first reported on the Wall Street Journals Web site late Thursday, will also hit the companys Merrill Lynch unit. Bank of America agreed to acquire the firm at the height of the financial crisis in 2008. While Merrill has proved profitable more recently, trading volumes and the flow of deals have slowed substantially in recent months, making it vulnerable to further job reductions.Despite the huge settlements and other write-downs, Mr. Moynihan has said that he does not plan to issue more stock to raise new capital. Instead, the company has been engaged in the corporate version of a yard sale in recent weeks, raising billions of dollars as it offloads everything from its Canadian credit card business to several commercial real estate properties.In the recent market downturn, Bank of America shares have been especially hard hit.  Since the beginning of the year, Bank of America shares have fallen from $15 to a closing price of $7.01 on Thursday.While the markets reflect many economic factors we cannot control, we must stay focused on what we can control, Mr. Moynihan said in the memo.

My son goes to great Bridge high School and plays ball with the Dudley's kid. I just spoke with one of Mrs. Dudley's Bank of America friends (a mutual one I have known for more that 30 years.)

There's more to this story than meets the eye. Mrs. Dudley according to the police department is out on bond currently for an assault case. In a post from what looks like from her posting under an assumed fake name admits adultery. She has lied to her husband and the community and cheated in her marriage. Whys would she not do the same regarding anything else?

In all, I don't believe she can be taken trusted . In her own words on a post on this site she says, " Are you someone whose husband or boyfriend had and/or is having an affair with Elizabeth Jones Dudley?

Are you the estranged husband or boyfriend of Elizabeth Jones-Dudley, herself, trying to cause her problems because she has or is in the process of terminating the relationship with you?

Did she somehow get you fired from your place of employment or cause you some other sort of problem, perhaps because she rejected your advances or didn't promote you in a timely manner?"

This gives a very bad taste for the Great bridge area.

worried parent

This woman hasn't done anything wrong, hasn't done drugs, etc...  The only thing she's done is to stir up the ire of one person posting under multiple identities.  Eddie is right; court is one option, but your multiple logins and erratic postings pretending you're a lawyer, a concerned parent (I mean...really??), etc... have pretty much destroyed any chance of anyone taking you seriously.  By the time someone sees this posting, they'll recognize this for the stupidity it is.

A background check?  Not only would this not show up on a criminal background check for this specific person.... if this person is really a VP or SVP,  it doesn't even affect or threaten her employment in the past, the present, and/or the future.  Even if you conduct annual checks - which is an absolute waste of resources, this whole thing doesn't mean squat because none of it applies to her.  Nobody cares.

I will say this:  if she really is a VP or SVP, she's got more game than you.....

OMG , My Son goes to school with their son... I've heard the rumors of the infidelity and some drug activity in their neighborhood. My husband said he once smoke pot with Mike Dudley...

This is crazy!

Worried parent

OMG , My Son goes to school with their son... I've heard the rumors of the infidelity and some drug activity in their neighborhood. My husband said he once smoke pot with Mike Dudley...

This is crazy!

Worried parent

You'd know it's against the law to impersonate an attorney.  I can assure you, I have no idea who the person who you seem to be harassing, is.  It's very clear, however, that this has very little to do with a legitimate rip-off and that you're upset for another reason which you feel cannot be disclosed.  But keep posting.  I'm sure your victim will appreciate it, in court.

Cyberstalking is the use of the Internet or other electronic means to stalk or harass an individual  by false accusations , a group of individuals, by false accusations, monitoring, making threats, identity theft, damage to data or equipment, the solicitation of minors for sex, or gathering information in order to harass. The definition of "harassment" must meet the criterion that areasonable person, in possession of the same information, would regard it as sufficient to cause another reasonable person.

Harassment  the act of systematic threats and demands.

The above complaint (if True) and of public and legal knowledge is legal.

As a Corporate attorney for 30 years this looks like the individual make claims of  STALKING or Harassment is covering the fact that this she is related to a person that was (from public online documents) that was federally convicted. 

Banks need to do yearly background checks on their SVP and here is a perfect case of one bank that did not.

There is nothing in the content that says Miss Dudley did anything wrong , just that she is related to someone who did. This post makes Bank of America look bad in their attention to possible hiring practices. 

Louis Davidson III, attorney

However you've been aggrieved by her, continuing to make duplicate posts showing different pictures of her, isn't helping your completely indiscernible cause.  The only cause that I can discern is that you're trying to harass her, using Rip-Off Report to insinuate she has taken part in illegal activity while disclosing a collection of pictures you've either taken, yourself, or appropriated from another source.  You're also polluting the report table with a ton of duplicate threads that make it harder to read.  Quite clearly, you want some attention.  I can't say that I'm impressed enough to sympathize with you, let alone dislike Ms. Jones.

Miss Jones's father did prison time for money laundering  and she is a SVP works with the largest bank in the country -- 

It really does seem like you're trying to associate this person with news reports of other people committing crimes.  You seem to have an awful lot of photographs of (presumably) Ms. Jones.  You've definitely wasted no effort posting duplicate text you would have us think pertains to her.

   That was quite an interesting report, but failed to mention anything about how Bank of America or Elizabeth Jones Dudley were involved in a ripoff.   Since they are in the title of your report, I would expect them to make an appearance in the report.   Get with the program!