As Shareholders Bleed To Death, Bank Of America (BAC) Honored For Environmental Commitment

By Douglas A. McIntyre Updated Apr 27, 5:01PM EDT · Published Aug 19, 2:51PM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Fed_2 Why any bank which has undermined the value of its shares by poor management and taken billions of dollars in low-cost loans from the Fed would promote it environmental intiative is beyond imagining.

Bank of America (BAC) will be honored for its environmental commitment at a special reception on Monday, August 25, 2008 during the upcoming Democratic National Convention in Denver.

At least shareholders know the bank like Obama.

In March 2007, Bank of America announced $20 billion, 10-year environmental initiative to address global climate change by encouraging the development of environmentally sustainable business practices through innovative lending and investment strategies, the creation of new products and services, and operations.

Since March, the bank’s shares are down 40%.

Bank of America needs a new PR staff.

Douglas A. McIntrye

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.