Million more reasons that top off a bad year Bank of America Corp's much-maligned acquisition of Merrill Lynch has cost its chief executive Kenneth Lewis his peace of mind, his job ... and now his salary. The beleaguered 62-year-old agreed this week to forgo any compensation for this year on the suggestion of a government-appointed paymaster, and since he has already received about US$1 million in wages so far this year, he would write a cheque to Bank of America to pay that back, the bank's spokesman said. It has been a trying year for Lewis. In January he announced Bank of America's first quarterly loss in almost two decades and subsequently endured harsh scrutiny for not alerting shareholders that Merrill was bogged down with billions in losses before signing off on the takeover. He then lost his chairman's title in April after a shareholder vote and recently announced that he would retire by the end of this year amid intensifying investigations into his handling of the Merrill deal. Then yesterday, Bank of America announced a larger than expected third-quarter loss of US$1 billion, the lender's second quarterly loss in a year. Could things get any worse for the former banking titan? We will hold judgment on that until his US$1 million cheque has cleared. Beat goes on for CX boss Cathay Pacific Airways chief executive Tony Tyler (below) is doing his part to tackle global warming. He penned a South China Morning Post article last week on how the airline industry is taking steps to reduce its carbon footprint. Next month, he will let his guitar do the talking. Tyler is scheduled to perform with a new group called Hot Air in Lan Kwai Fong on November 28. An invitation said tickets cost HK$150 and 'will buy you a tonne of carbon and offset the gig'. Other bands include Thinking Out Loud, Absolut CraHK and Nightflight. Sounds great, but Lai See was even more interested to find out how the chief of one of Hong Kong's most celebrated blue-chip companies happened to join a rhythm 'n' blues band. A Cathay spokeswoman said Tyler had played the guitar for years and also sang. His usual band was actually Nightflight, which plays upbeat rock hits, and he was just helping out with Hot Air, she added. Other CX officials have also performed with Nightflight. Lai See has taken many night flights with CX, but given all the build-up over Tyler's virtuoso talents, perhaps none would be as entertaining as the Nightflight performance next month. Casual Friday Hong Kong investors seem to have taken the 'casual Friday' notion to heart recently. After a week of ups and downs in the market, the Hang Seng Index barely registered a pulse yesterday. This comes on the heels of last Friday's slog when the benchmark barely budged, eking up just 6.5 points or 0.03 per cent. Two Fridays before that it was down 0.1 per cent. Yesterday, it finished lower by 69.18 points or 0.31 per cent at 21,929.9, but that was only after a relative barrage of selling pressure sent the benchmark tumbling 95.8 points after the lunch break. So maybe we exaggerated, but who could blame us when the Hang Seng Index was only up 0.1 per cent by lunch?