M&I adopts Fitzgeralds' Rules of Order to railroad annual meeting, moved to NYC | Wis.Community

M&I adopts Fitzgeralds' Rules of Order to railroad annual meeting, moved to NYC

M&I Bank takes its meeting to NYC to escape Wisconsin protesters and embarrassing questions, but -- surprise! -- 700, including New York and Wisconsin firefighters, rally in Times Square.

The bank adopts the same tactics as Wisconsin GOP legislators in railroading its annual meeting, refusing to answer questions and adjourning in five minutes. Mary Bottari reports:

[CEO Mark] Furlong fled to New York to get away from the Wisconsinites who had been badgering him with uncomfortable questions. Questions about those embarrassing bonuses, the $1.3 billion in unpaid TARP bailout funds, and the even more embarrassing $54,000 in campaign contributions to Wisconsin's newly elected governor. Recently, the bank posted its 10th consecutive quarterly loss of $142 million. The bonuses alone would cover half this loss if they were retained.

Read it here.

Published

May 18, 2011 - 10:56am

Author

randomness