Photo: Brown Daily Herald
Brian Moynihan’s plans to appear on a conference call Wednesday with Fairholme Capital and Bruce Berkowitz are being called “unusual” and “eyebrow-raising.”All the more reason to listen in. UPDATE: Here’s what happened on the call.
After the stock tanked Monday and as Bank of America’s need for new capital is called into question, CEO Moynihan is taking big measures to instill confidence in his firm in the market.
Berkowitz is advertising tomorrow’s call by saying in a press release:
Bruce Berkowitz of Fairholme will ask the toughest questions submitted to [email protected] before opening the call to participants.
And Tuesday Moynihan appeared on CNBC to instill confidence in his firm’s stock. Instead Maria Bartiromo reminded him that the last time a bank exec appeared on conference call with a hedge fund manager, it was Lehman Brothers’ Erin Callan, who was fired soon after.
And many seem to remain sceptical of Bank of America’s need for new capital, based on a poll about his performance.
We’ll be live-blogging tomorrow’s conference call with Berkowitz, but in case you want to listen for yourself, here’s what you need to know:
Date & Time: Weds August 10th; 1:00 PM to 2:30 PM EST
Participant Dial-In Number(s):
Operator Assisted Toll-Free Dial-In Number: (877) 270-4101
Operator Assisted International Dial-In Number: (720) 398-0058