In what is sure to go down as a deft marketing move to garner some publicity (and virtually nothing more), Bank of America and Tesla have teamed up and announced that the megabank will start financing purchases of the Tesla Roadster to make them “much more affordable.”

I call BS.

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Women entrepreneurs, don’t miss the Keiretsu Forum’s 4th Annual Summer Solstice panel discussion tonight about “How Women Investors and Entrepreneurs Will Revive the California Economy.”

The event will bring together the Bay Area’s most talented minds to:

•          Foster a collaborative atmosphere between women and the angel community
•          Confront the critical issues facing women entrepreneurs and investors today
•          Drive the recovery of the California economy
•          Build businesses and invest in thought out ventures
•          Explore compelling investment opportunities

In addition to a networking reception, attendees will hear brief presentations and a panel discussion regarding the larger role women investors and entrepreneurs need to play in the California economy. More than ever, the angel community is eager to attract women investors. Women investors are considered a largely untapped market that is critical to “financial and mentoring support for new companies.”

REGISTRATION


Please register at http://summersolstice.eventbrite.com $25 by June 26, $40 thereafter.

PANELISTS AND KEYNOTE SPEAKERS

The Summer Solstice will feature a unique panel of business women who will discuss a myriad of issues confronting the entrepreneurial community today. The panel itself will be comprised of notable members and entrepreneurs from the Keiretsu Forum and Women’s Initiative.

Agenda

5:30-6:30pm     Registration, Networking, and Booth Exhibitors

6:45-6:50pm      Welcome and Opening Remarks

6:50-7:10pm     Key Note Speaker

7:10-7:20pm     Panelist introductions

7:20-8:00pm     Panel Discussion

About the Keynote Speakers

Amanda Wallis is the Managing Director, Market Executive for the Northern California and Nevada Regions of U.S. Trust, Bank of America Private Wealth Management.  Wallis is a member of Bank of America’s San Francisco Leadership Team, comprised of the company’s top executives in the market. The team manages the bank’s ongoing relationships with local community leaders and organizations and makes decisions about how to use Bank of America’s resources to support the San Francisco community.

With more than 30 years of financial services experience, Wallis joined U.S. Trust from American Express in London where she served as executive director, and Europe, Middle East, Africa Region Head of the American Express Private Bank. In that role she led a region with seven international locations.  Prior to her role at American Express, Wallis spent over 10 years at the legacy Private Bank of Bank of America. During this period Wallis served in several leadership roles in San Francisco and London.

Wallis earned her undergraduate degree from Smith College and completed the executive program in Leadership and Managing Change at Stanford Business School. In 2007 she was named one of the “20 Most Influential Women in European Wealth Management” by Global Investor Magazine.

Rashmi Sinha is co-founder and CEO for SlideShare, the world’s largest community for sharing presentations and documents. SlideShare is growing rapidly (more than 18 million monthly uniques) letting everyone from marketers, conference speakers and academicians share presentations and connect with others. Rashmi has a PhD in Cognitive Psychology from Brown University and did research on search engines and recommender systems at UC Berkeley. She is a frequent speaker at conferences such as Web 2.0 Expo and Future of Web Apps. She writes a blog at rashmisinha.com about running a startup.

Economist, James Galbraith, on bank stress tests

The results of bank stress tests released this week, do not bear good news. The bottom line is that at  total of $75 billion needs to be raised from 10 major banks to prop them up for losses that could come from a deepening recession.

Here is a Top 4 summary of who needs what in the next six months:

• Bank of America (BAC) will have to raise $33.9 billion;
• Wells Fargo (WFC), $13.7 billion;
• GMAC (GJM), $11.5 billion; and
• Citigroup (C), $5.5 billion

The question people are asking is whether this is the worst news yet? Or whether it is news that the worst is over?

There is no easy answer. The truth is that if unemployment continues to rise, housing prices continue to fall and the economy continues to shrink, then much more money might be needed as problem bank loans could be on the rise.

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Climate action group Rising Tide is joining forces with City Life/Vida Urbana, a housing justice organization, to announce a mass action against Bank of America. Instead of the usual sign holding and chanting (which has also been taking place), they are asking people across the country to close their bank accounts on February 14^th- Valentines Day.

Why?

Because Bank of America continues to kick poor families out of their foreclosed homes and finance the ecologically devastating practice of mountaintop removal. The two causes may seem unrelated, but house foreclosures affect primarily low income families- many of them minorities, and harmful coal extracting practices often take their biggest toll on poorer rural families. According to Rising Tide, the pollution from mountaintop removal poisons the water in Appalachia and has forced people to leave their homes.

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After significant pressure from the National Resources Defense Council, Rainforest Action Network and a whole host of other activist groups, Bank of America conceded to withdrawing financial support of multinational coal companies like Massey Energy, which is widely known as one of the worst perpetrators of environmental offenses in Appalachia. The bank’s official policy statement reads:

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