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Bank of America to Hold Shareholders Meeting

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    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:53
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This is -- Imus in the morning program on the fox -- Good morning everyone Bank of America will hold its annual shareholder meeting today there could be fireworks both inside and outside the event.

Fox Business is Robert -- is at Bank of America's headquarters in Charlotte, North Carolina with more on that Robert what are we expecting from -- Well -- India could be a lot of fireworks here at a sitting in front about bank of one Bank of America plaza right here one.

I could see right behind me that's where the shareholder meeting will again at 10 o'clock trains are running on schedule -- we'll see if the meeting does indeed.

In fact you'll remember Wells Fargo just last month had some 500 protesters outside prevented a lot of shareholders from getting inside the meeting.

There could be as many as a thousand protesters here's what they're calling the Wall Street of the south.

Here in the queen -- so we're expecting protesters outside and the chief executive Brian one and maybe facing the ire of its shareholders on the inside of the meeting.

Top of the charts of course of but top concern is gonna be executive compensation.

Brian wanna hand -- seven million dollars mostly in restricted stock units last year.

Pails in comparison to their dependence fifteen million but we'll see if he gets a thumbs down some -- at Citi dot group's chief executive which he got to -- shareholder meeting in the past couple of weeks also of course -- -- will be.

Front and center are among the protesters out here the protesters expected to range from.

Members of the Occupy Wall Street limit to environmentalists.

Environmentalists yesterday striking at the Bank of America Stadium -- -- -- home to the NFL's Carolina Panthers.

Unveiling a banner that said bank of coal of course protesting against some of the -- funding of the coal industry by Bank of America and of course the foreclosure process practices.

By the countrywide unit which Bank of America acquired a few years back for.

Just four billion dollars but it has cost shareholders and has cost the company some tens of billions of dollars in loan losses and of course in litigation to settled as bad practices including robo -- -- -- -- -- will be right about that plus.

The share price -- down about half of what it was when Brian -- a hand took over.

On New Year's Day in 2010.

It was at fifteen dollars around there when he took over now at closing last and it's 779.

-- vastly underperforming.

The worst performer the Dow Jones Industrial Average over the past year.

For that matter profits down significantly as well Diane ever call back in 2009.

Chairman and chief executive Ken Lewis was stripped of his chairman title at that annual meeting not quite sure we'll -- they got dramatic today but.

Want to latency will be on the inside we'll have it -- for you here today from Charlotte.

Back to you aren't deadly no shortage of topics than to tackle that they Robert looking checking in -- -- -- see what they discussed so part thanks so much.

Alright.

And are getting irritated from AOL the companies reporting a profit of 22 cents a share fifteen cents better than expected.

Revenue of 500.

-- nine million dollars also topped the estimates and with that let's take a look at the markets here in the US.

Futures have been down across the board Dow futures are down by 85 points now obvious to -- down almost twelve.

And the nasdaq's down about 23 over in Europe troubles facing Greece and the ripple of facts they might have are once again putting pressure on the markets their stocks there.

Are back in the red across the board we saw Frankfurt travel into Green territory for a little while there but it's back down now by about.

Trying four point let's -- a closer look now at what's moving those markets with -- dot com research director Kathleen Brooks.

Who joins us by phone from London Kathleen recent left wing bloc is apparently trying to form a coalition based on undoing the EU IMF bailout deal.

What kind of repercussions are the country in the region looking at that happens.

But I ain't going to be -- EO of the debt -- Eating your guy that was really -- pocket indicate hate to back that -- I Portugal -- Greek problem at.

Yet on the other Kenya the European Commission in Germany coming back saying countries must stick to budget cuts do they have any ability to enforce that anymore.

Well they they they got to be our capital -- -- is -- -- Greece is an uppity.

Very good secret that a lot of help funny -- -- we -- -- I'm not -- agreement.

How do you end and that -- -- -- get an extra added up and I don't talk about may have.

And capping -- a precedent does that set for future bailout deals does it will listen -- fact.

Investor confidence in in future agreements that are made.

I think he can't agree on that he didn't like that -- all right -- -- got all that.

It just a guarantee that it -- let it come Abbott and are not what we've seen repeat we debate if but how hard -- how it is that.

I they cut out the the -- that -- -- -- not just don't elect.

All right that's Kathy Brooks from Forex dot com thanks Kathleen.

And now let's take a quick look at commodities oil and gold -- both down Imus in the morning continues right now on Fox Business.

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