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My first job out of college was with the Bank of America for the longest six months of my life. BA hadn’t yet had its first quarterly billion-dollar loss, but it was around the corner. I observed so many bizarre things happening at the bank, that I resigned after six months and typed out an eight page, single spaced letter to the CEO, Sam Armacost (Stanford MBA) outlining everything I saw as wrong with the bank from my 21 year old perspective having been there all of five months at the time…and he responded with a two page letter to me.
A few years later, BofA ignominiously sold its SF headquarters building and moved to North Carolina.
92-year-old Nissan Motoes just did the same thing, a sale and leaseback. Sad. They sold 1.6 million vehicles in America in 2017. By 2024, that number dropped 42% to 924,000.
Japanese auto giant sells own headquarters as $11.2B vanishes—20,000 workers face axe
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