Bank of America Corp. (NYSE:BAC) to assist in restoration of Watts Towers

Posted by Chris Bell June 12, 2013 0 Comment 941 views


The bank holding company and the financial holding company, Bank of America Corp. (NYSE:BAC) has now moved on to focus on art conservation in an effort to preserve the heritage and tradition. The company had announced that it would extend its Art Conservation Project, 2013 by funding the restoration of Simon Rodia’s Watts Towers in Los Angeles.

With this funding from Bank of America Corp. (NYSE:BAC), the staff at the Los Angeles County Museum of Art would now gain time and expertise to analyze and process the repair works of the Watts towers, ensure that the tower is maintained on daily basis and create awareness of the heritage of the Watts towers to the public. The Simon Rodia’s Watts Towers was constructed during the period 1921 to 1954 and forms an iconic part of Los Angeles. However, owing to wear and tear, the tower is presently in need of high restoration efforts and had thereby been chosen by the County Museum of Art for renovation and maintenance.

The Art Conservation Project of Bank of America Corp. (NYSE:BAC) was introduced in 2010 in Africa, Europe and Middle East and in 2012, the bank had further extended it to Asia, the Americas and Australia. The bank identifies the grant recipients every under this project and by this year’s funding, the Art Conservation Project of Bank of America Corp. (NYSE:BAC) would have funded the conservation of 58 art and related projects in around 26 countries across the world.

Bank of America Corp. (NYSE:BAC) is thus aiming to preserve the tradition and culture through its project and is thereby involving the local communities into preservation of the same. The bank takes care to contribute to the advancement of future generation and enrichment of the culture through the wide range of funding allotted to diverse projects across the globe.

The shares of Bank of America Corp. (NYSE:BAC) had declined by 1.35 percent to close at $13.12 per share for the end of last trading session on Tuesday. The bank holding company had been trading in the range of $13.07 to $13.28 per share during the day.


About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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