Gunpowder Chronicle posted on May 7, 2008 7:16 AM | Rating:
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AmericasBank Corp -- which runs Towson Community Bank and Annapolis Community Bank -- has ousted its President and CEO, Mark Anders, due to poor performance according to the Baltimore Business Journal.
Hard to believe that a small bank company would have the gumption to "do the right thing".
Sure, large investment houses started cutting bonuses last winter -- including Bear Stearns and Merrill Lynch. But what about salary reductions, elimination of golden parachutes -- and yes, even dismissal?
When do the top executives start to feel a little pain for using the companies as giant Texas Hold 'Em tournaments?
Good for AmericasBank. Let's hope more banks and investment houses start holding their executives accountable for bad business decisions.