| Rank # of Fortune 500 Companies | |
|---|---|
| Texas | 58 |
| New York | 55 |
| California | 52 |
| Company | Rank |
|---|---|
| Valero Energy | 16 |
| Goldman Sachs | 20 |
| Microsoft | 44 |
 Get Quote: BAC
Financials: Latest Results
Rank: 9 (Previous rank: 9)
Compare tool: Bank of America Corp. vs. Top 10 CEO: Kenneth D. Lewis Address: 100 N. Tryon St. Charlotte, NC 28255 Phone: 704-386-5681 Website: www.bankofamerica.com Bank of America wasn't hit quite as hard by the credit crisis as other financial institutions in 2007. But it did have the misfortune of taking a $2 billion stake in Countrywide, the nation's biggest subprime lender, in August.
It also took more than $5.5 billion in writedowns on mortgage-backed securities in the second half of the year. This past January, CEO Ken Lewis agreed to buy Countrywide for $4 billion - although as the extent of Countrywide's woes becomes more apparent, it's not clear if the deal will be completed. If the companies do merge, they will control 25% of the U.S. loan market. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry: Commercial Banks
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