The Bottom Line
Bank of America has agreed to pay Countrywide Financial president and chief operating officer David Sambol $28 million to stay on . . .
Bank of America has agreed to pay Countrywide Financial president and chief operating officer David Sambol $28 million to stay on as head of the combined firms’ consumer mortgage division. The combined $20 million signing bonus and $8 million in stock is 37 percent higher than what Bank of America CEO Kenneth Lewis earned last year. Sambol’s pay package was unveiled yesterday in an SEC filing that also valued the Countrywide merger at $4.1 billion. (Reuters)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
MOST POPULAR ON THE WEEK
- Why Mitt Romney is perfectly poised for a comeback in 2016
- Why is the West so afraid of Islam?
- 8 secrets to steal from power networkers
- The Nazi smart bomb that inspired China's most dangerous weapon
- Here's the schedule very successful people follow every day
- The best places to find love — and lust — according to science
- What would a U.S.-Russia war look like?
- Don't vote for Andrew Cuomo
- Why GOP reformers are bound to fail
- With the world in flames, why is the economic recovery still going strong?
Subscribe to the Week